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Strategies & Market Trends : Momentum Daytrading - Tricks of the Trade -- Ignore unavailable to you. Want to Upgrade?

To: Colin Cody who wrote (1221)	6/30/1998 9:38:00 PM
From: Eric P	Read Replies (2) \| Respond to of 2120

Colin: To successfully daytrade, you need to have fast executions. From your experience with your discount firms, how fast have your typical market orders been executed and confirmed? With discount firms, you can count on them selling your order flow to market makers. However, this would not be so bad if they could assure you of a fast fill (less than five seconds) of a buy at the inside ask or a sell at the inside bid. I would gladly give up the spread on every trade if I could be assured of a quick fill at the inside ask. Unfortunately, with discount firms, I fear that they hold your order for up to a minute or more, then execute your order at the worst possible price within that minute and take the more favorable executions for themselves. -Eric