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Strategies & Market Trends : The Final Frontier - Online Remote Trading -- Ignore unavailable to you. Want to Upgrade?

To: steve goldman who wrote (3879)	4/25/1998 6:41:00 PM
From: cool	Read Replies (3) \| Respond to of 12617

I am new to daytrading and want to play the gap up on MDIX monday. Could someone more experienced give me some ideas at what point to sell, when to rebuy at fill the gap time. I see normally the gap will peak about 10:00 and reverse for a half hour. Can I put multiple sell, buy, sell orders in at Datek say current price: 3/4, sell limit 1 1/16, buy limit 7/8? and sit back and watch, or must I enters the orders real time and wait for confirmation?

To: steve goldman who wrote (3879)	4/25/1998 7:18:00 PM
From: funk	Respond to of 12617

I fix my own brakes.... call me a dinosaur. LOL funk

To: steve goldman who wrote (3879)	4/25/1998 7:37:00 PM
From: Zeuspaul	Read Replies (1) \| Respond to of 12617

>>There are several components to "successful" trading, one is picking the security (a timing issue) and then the next is execution quality.<< I am with you on the execution quality. I want to know about picking the security (a timing issue). Would this be a mutual choice? How are recommendations made? How is the timing issue addressed? What time frame are we concerned with 1 minute? 5 minutes? an hour? Thanks Zeuspaul ps I do my own brakes too, saves me a lot of money. The pro's always want to turn the drums/rotors and it is rarely necessary.

To: steve goldman who wrote (3879)	4/25/1998 8:23:00 PM
From: TFF	Read Replies (1) \| Respond to of 12617

Steve: I do anywhere from 2 - 10 trades a day but I would not consider phoning orders for the simple reason that if the market starts to tank there just isn't time to phone in orders before you incur huge losses. Don't get me wrong - I would love to phone in orders. I just think logistically it's not feasible. Daytraders don't have the luxury of time that positions traders have. Unfortunately I HAD to phone the order in when I got caught short on SEEK because my system was reading my positions incorrectly. And yes I got killed on the fill, getting 3 points higher by the time I had gotten through to the trader! p.s. I think we had this discussion before didn't we;)...oh well

To: steve goldman who wrote (3879)	4/25/1998 8:39:00 PM
From: funk	Respond to of 12617

Steve, when its convenient for you could you elaborate on a few of your points? Unless you are doing more than 10 trades a day, I dont think that direct order entry offers the best breadth of executin systems and quality. How do you arrive at 10 trades per day? There are so many different approaches, there are plenty of days I don't do that many trades. Is that round trips? or is it five round trips? I assume that was more than an arbitrary number, but I don't see clearly the import that you lend to that particular number of trades. Premise of this argument is NOT that individuals trading from home don't have the "skill" or knowledge of the systems to be great traders, as many as some of the sharpest I know, but that these individuals are the exception and again, in my opinion, that such systems do NOT offer the highest quality executions, and that there exists alternatives for top notch executions for marginally higher cmmissions that your direct order systems, that $10 or $15 bucks on a $50,000 transaction is meaningless if price improvements can be obtained on occassion and guidance, freedback, and execution quality is substantial for the alternative. huh? Premise of this argument is NOT that individuals trading from home don't have the "skill" or knowledge of the systems to be great traders, as many as some of the sharpest I know, but lol When making a concession, make sure it is believable. Of course most of us DON'T have the "skill" or knowledge of the systems.. when starting out... unless one actually worked as a professional trader, or was lucky enough to get direct teaching from a pro, then there is no way on earth one can have the knowledge of the systems, it takes, obviously, a lot of time and a lot of trades. Furthermore they keep changing the rules on Soes anyway, so the learning will never stop. Most online traders don't understnad the idiosyncracies? of SOES, superdot, raes, pace, SNET Ecns, other systems and processes, mms, how mms work, how institutions buy and sell, how trading desks operate Totally agree, I'm in the learning curve right now and loving it. What is raes and pace? is that for listed stocks? All in all, I'm glad you are willing to be there to save guys like me from ourselves. It is a true comfort. <ggg> Having said that, I would submit that you will be on these threads before the end of the year, describing the internet product that Yamner is offering to daytraders. I think you already mentioned it once. Right or wrong, best executions, or stupid Seven dollar order flow web based rip-offs, either way, people want to make there own trades. Give the people what they want. I think you guys are going to drag your feet just long enough, that by the time you offer a product, I'll be ready to spin off a second trading account. No hurry! Of course you may want to check with Ross first, you may not want me. <ggg> funk