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Non-Tech : CYBERTRADER -- Ignore unavailable to you. Want to Upgrade?

To: Bill Fischofer who wrote (612)	5/15/1998 5:13:00 PM
From: William W. Dwyer, Jr.	Read Replies (1) \| Respond to of 3216

Bill, I haven't traded in the past few days, but I can comment on your question. Generally, most orders on CyberTrader have been executed for me in seconds, often 1-2 seconds, usually within 10 seconds, if market order or marketable limit order. However, on a few really fast stocks I traded recently, a couple of weeks ago, I was stuck, found it impossible to get filled with limit orders and finally used SOES market order, but on a few occasions it seemed like 1-2 minutes before I got out. On a fast-moving market, that can cost a lot of money. I don't think CyberTrader is bad in that respect, certainly better than the experience you mention with Waterhouse. I think the important thing to remember is that it's important to pick stocks with the kind of action your equipment and broker can handle the way you want. Personally, I don't want to trade stocks anymore that are that volatile. The potential rewards are very high, but the accompanying risks are beyond what I personally want to experience. Bottom line, though, is that you really can't daytrade stocks like that with brokers like Waterhouse. With all due respect, I don't think they are intended for that kind of trade. Bill

To: Bill Fischofer who wrote (612)	5/15/1998 9:16:00 PM
From: Darren	Read Replies (1) \| Respond to of 3216

Can someone comment on how CyBerTrader works under "fast market" conditions? I sold a few XYBR shares this morning to recoup my initial investment (will hold the remaining "free shares" for longer term) and it took close to 10 minutes for my market order to execute via Waterhouse (and who knows how much I got clipped--limit orders were simply impossible). Has anyone used CyBerTrader to try and trade a stock like XYBR over the past couple of days? Do you still get immediate executions or is the pandemonium just a general hazard in these circumstances? There is absolutely no comparison between Cybertrader and a web-based execution system. If I want to buy something, I know it in 15 seconds. If I don't get it, it cancels automatically, unless it's SOES, which I have set for 30 seconds because SOES is so slow these days. I have no idea how someone can trade KTEL, ENMD, etc. with a web-based, point and click execution system. I saw people trading XYBR all day on CT...looked like there were a lot of successful trades...