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Strategies & Market Trends : Trading For A Living -- Ignore unavailable to you. Want to Upgrade?

To: Darren who wrote (818)	7/8/1998 11:39:00 PM
From: gbh	Read Replies (1) \| Respond to of 1729

As a trader through MB or Cybertrader, you are essentially an independent market maker, with the ability to post a Bid and get hit as opposed to always paying the Ask or worse, the Ask + an uptick or two. This is the big difference. Darren, yes I understand this. Even with Datek, I get the ability to place limit orders on ISLD. However, my experience when doing this is that I rarely end up buying at the bid. On the rare occasion that I do get a fill, its just before a downtick. So Icould have just as well waited a few seconds to ge the same price. My best experience with Datek comes with plain market orders. Virtually immediate fills most of the time, with some caveats. Fast moving stocks in the first 15 minutes can get horrendous fills (sometimes taking 5-10 minutes). Also, Datek is notorious for partial fills. I guess my real question is how often do you use limit orders when momentum day-trading? And how do you route most of your orders on CT? Thanks. Gary