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Strategies & Market Trends : From the Trading Desk -- Ignore unavailable to you. Want to Upgrade?

To: Captn who wrote (3691)	10/1/1998 2:56:00 PM
From: steve goldman	Respond to of 4969

Thanks for the question. First off, a few words of advice...take your time as you get involved in trading and investing. Trading without the right experience and understanding of the markets, systems, etc. is a quick way to low your money. Don't be in rush, the market will be here for quite some time. re: firms. If you are trading, you must be with two types of firms, the direct order entry firms or one of the few firms that works orders on your behalf, not making markets, etc., utilizing all the systems that direct order entry firms offer and then some. We are one of the few firms in the country that offer such a service. If you are focusing on the $23 vs. $35, you are focusing on the wrong area. First off, our $35 includes all ECN fees which anyone trading against instinet or ISLD or TNTO can tell you, they add up quickly. That 20 buck ticket soon becomes the same $35. Also, if we pickup just an 1/8 better for you on one lot of 1000 shares, that $125 more to you, which covers the $15 extra for 8, 9 trades. We average improvements more than 1 in 8 trades, of an 1/8th or more. An the upside could be 1/4, 1/2 to more. You never know if you simply route to some Etrade that routes nondiscrimintorily to a market maker. Lastly, in my opinion, what it comes down to is...are you comfortable enough to handle a direct trading firms' technology and the systems (however numerous or limited) that they offer? Do you understand SOES, SNET, ECN's, AUTOfills systems, RAES, PACE , Superdot, dot, etc...? Do you understand them well enough to do it yourself against some of the best in the industry (the mm's and larger firms)? Also, can you place complex orders with such firms? Conditional orders? Stops and LImits? On nyse and OTC stocks? Is there some advice and guidance you can get? Also, critical is the technologies available for routing, giving orders and taking reports. We all know how unreliable the internet can be and that one failure at the wrong time can cost you thousands..Do they have a phone trading desk? Ultimately, the direct order entry firms offer great value and are well suited for many daytrading clients (particularly the well experienced and well-connected (bandwidth), but not for position traders, newer traders, larger accounts or investors. To get an idea of our firm, take a look at the following: yamner.com Also...do a search in Silicon Investor for Yamner or Steve Goldman, search the text, etc. and you will see many comments regarding the firm. Any other interest in our firm should be directed to me personally and kept off the thread, Thanks! Regards, Steve@yamner.com