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Non-Tech : Datek Brokerage $9.95 a trade -- Ignore unavailable to you. Want to Upgrade?

To: Esteban who wrote (9694)	9/16/1998 1:33:00 AM
From: INFO_DART	Read Replies (1) \| Respond to of 16892

I've wondered if some of the problems aired here over and over are a result of bad internet connections or misleading quotes that have fallen behind or Nasdaq problems that are beyond Datek's control. In my case definitely not internet connections or misleading quotes. Nasdaq problems, I don't know. I do know that Datek has refused to do what any other reputable broker does when requested, they send you a copy of the time and sales report, etc so that you can see for yourself that your trade was handled fairly. Datek has refused to do so! What do you think is up with that?

To: Esteban who wrote (9694)	9/16/1998 3:23:00 AM
From: LEVEL7	Read Replies (1) \| Respond to of 16892

Agreed, Datek is a viable alternative if speed on executions, confirms and cancels is not a necessity. The fact you are not trading the high volume stocks of the day is also a factor that must be considered. As a daytrader, I look to trade the high volume and volatile stocks. By definition, that's what most daytraders do. I do occassionally trade smaller volume stocks with news, rumors etc but these stocks usually share one common denominator, higher than usual volume. Your assessment that tradestations, like I use, are well suited for daytraders trading the high volume stocks, esp. those way out of their normal range. If this is not what you are trading, I assume you are not a daytrader. Therefore, I don't understand your taking exception to my statement that Datek may be an alternative for the "longer term investor". Datek certainly isn't an alternative for daytrading IMO. Your point regarding ISLD is well taken. I absolutely love trading ISLD because I can almost be sure of an execution with a click. This, among many other factors, is why I believe Level 2 is of great advantage. I can see a 32 1/2 ISLD bid for 4300 shares and watch. If I'm readying to dump a stock as other MM's are dropping off the bid, I can have my system ready to hit the ISLD bid in 1 sec. I will be instantly executed for my size as opposed sometimes to MM's that may fade on you. When a MM bids for 1,000 shares he may be looking to buy 10,000 shares. If the market looks weak, he may just take 1,000 shares only and drop. That's not what an ECN will do unless each individual posting the ECN bid cancels his/her order. ECN's let you see the real picture and there's no walking away from the trade size once it gets hit. My opinion is ISLD and other ECN's will add much greater liquidity to the markets. Just as important, ECN's will provide much greater integrity than MM's do. I hope it continues on its current path and does not get taken advantage of by those simultaneously offering ECN use and also making markets in the same stock. Level 7