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

To: wallacestevens who wrote (1236)	9/12/1998 5:31:00 PM
From: TraderAlan	Read Replies (2) \| Respond to of 7382

Wallace. Agree exiting faster should be an advantage. But what about payment-for-order-flow MMs having to accept market executions promptly with a broker vs. the no-guaranteed fill of ECNs? My experience thus far is I'm getting more slippage now than in my discount days. The one indisputable benefit is the ability to buy/sell between the spread regardless of entry/exit point. Interestingly, if the e-brokers, like e-Trade, follow through with intentions to cut deals with ISLD, INCA etc, they'll eventually offer Real Tick-like interfaces to grab back the business lost to places like MB. Those will be wonderful days for EDT traders as comms drop back below $10. Not so nice for the Terra Novas of the world. Alan

To: wallacestevens who wrote (1236)	9/13/1998 1:11:00 AM
From: William W. Dwyer, Jr.	Read Replies (2) \| Respond to of 7382

I find that the ability to get into and out of trades more quickly sometimes results in causing one to initially overtrade, trade more than they did previously with a slower browser-based broker. It is so easy to get into a trade that one often gets into trades he otherwise might never even try. This tendency needs to be overcome, though, and I believe performance improves as one returns to his original thinking about trading even though now trading with a faster execution system. Faster is better, but like with fast cars, they can kill you if you aren't very careful.