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

To: Philip R Berber who wrote (1113)	8/14/1998 11:14:00 AM
From: Wesley Nichols	Respond to of 3216

Philip, besides the data fees, the exchange fees run $62.50 per month for NYSE, NASDAQ (I and II), and AMEX. But the executioner eats those fees when I make 25 trades. I guess the only other fees I can incur is with the ECN fees but I usually place my trades through the ARCHIPELIGO network at no extra charge.

To: Philip R Berber who wrote (1113)	8/15/1998 6:17:00 PM
From: Tanner	Read Replies (1) \| Respond to of 3216

I wanted to take this opportunity to respond to Mr. Berber's previous message... I am a current CyberTrader user, and while I must admit that CyberTrader, on the surface, has a nicer interface than RealTick, I believe that it doesn't quite have as much functionality when it comes to daytrading as RealTick. There are essentially three things that a RealTick system offers that CyberTrader doesn't: (1) - The print alerts on the market maker boxes in RealTick are color coded so that you can easily see whether the last trade has occurred at the bid, at the ask, or between the spread. Although you can sit and read each individual print alert in CyberTrader's MarketMaker box, each trade is displayed in the same color, making it near impossible to quickly judge whether there is more selling pressure or buying pressure at any give point and time (especially when you have a lot of MarketMaker boxes open at one time).... (2) - One feature that RealTick has, that I love, is that you can execute a trade from within that MarketMaker box. Each market maker window has the order entry buttons and fields built directly onto the market maker window, so that you can watch the stock, track the movement, and when the time is right, conduct your transaction without ever having to open up more than one window. With CyberTrader, you have only one order entry panel....on several times (when the Market is moving fast and I am playing several stocks at a time), I have placed orders to either buy or sell for the wrong stock. I think that CyberTrader's order entry panel is a bit more cumbersome, however, if you prefer to do all your order entry from one panel, RealTick does have an order entry screen that is just as good as CyberTrader's. (3) - I happen to have multiple accounts. Besides my regular daytrading account, I have a separate account for long term positions, and an IRA account. With RealTick you can trade with multiple accounts. When placing an order it prompts you as to which account you would like a transaction to occur... Unfortunately CyberTrader doesn't handle multiple trading accounts. You must actually log off, and then log on as a different user in order to execute a transaction on a separate account... Another thing that CyberTrader is missing, is the ability customize the boardview. For instance, I watch stocks in sectors.... For instance, I like to have a window that displays all the computer manufacturer stocks, a separate window for all the internet service providers, a separate window for the airline stocks, etc... With CyberTrader, you can't do this... Additionally, with RealTick you can customize the sort order... For instance, I like to have them displayed in order of the greatest bid-ask spread....So that I can see if a scalping opportunity exists.... With RealTick, you can display information however you would like to see it. And if you nee to perform calculations or functions that aren't part of RealTick, you can use the Excel DDE link to stream the data into a custom layout where you can sort the data and perform calculations automatically on a real-time basis. As for the position manager and alerts that CyberTrader so highly touts....? Well, I think that the position manager is pretty much over-hyped... The information that it provides isn't anything that RealTick doesn't also provide....The one exception is the loss alert that is displayed when stop-loss levels are reached....However, I would like to see this so-called alert display itself as more of an alarm....I would like to see it beep at you so that it gets your attention right away. CyberTrader does have nicer charts, and the window that displays the top ten NASDAQ and NYSE stocks is a very nice and useful feature. The overall interface is very sexy. And the support and staff is very good. However, as a trading platform, I think that RealTick offers a bit more than CyberTrader...