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To: Morpher who wrote (9484)	8/12/1998 10:35:00 PM
From: Philip R Berber	Read Replies (1) \| Respond to of 16892

I'd like to expand on Morpher's comment re Slippage Retail investors get drawn in by the cost of commission and seem to understand little about Transaction Costs I'd argue that Transaction Costs include both - the opportunity cost of a limit order not getting filled and therefore an entry or exit point being missed plus - the slippage when a market order is filled away from the level at which you were trying to get in Its hard enough for traders to battle and beat the spread and the commission costs without having to battle the additional transaction costs that slow fills cause PRB cyber-brokerage.com