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Strategies & Market Trends : SOES Trading -- Ignore unavailable to you. Want to Upgrade?

To: txx who wrote (1364)	3/22/1998 12:57:00 PM
From: Silicon Trader	Read Replies (1) \| Respond to of 1618

LOL!!! >>>> till youve done it you are in the dark JMO GO NRAG MBA

To: txx who wrote (1364)	3/22/1998 2:00:00 PM
From: Dave O.	Read Replies (1) \| Respond to of 1618

< SOES $25 commissions when I can trade (I know, not as easily) upto 5000 shares through Waterhouse discount brokerage for $12. > If you are an occasional trader Waterhouse or other discounters may be fine. But if you're trying to make money day trading the discounters commissions aren't all they appear. Can you get in (or out) of fast moving stocks instantaneously with Waterhouse? Can you buy at the bid (via an ECN) and immediately sell at the ask, again via an ECN? I saw an individual interested in Level II and "good" executions visit a trading office last Thursday. They had an order to sell 2000 NETA at 70 3/16 for a nice profit. It started pulling back from 70. They had to call their broker and ask to adjust price to 69 3/4. By then it was at 69 5/8. With Level II they could have gotten out at 70 instead of 69 5/8. That's a $750 difference (2000 x 3/8). In this case paying $25 or even $50 commission where you can work your trade doesn't look so expensive. Dave