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To: On the QT who wrote (81666)	11/21/1998 10:44:00 AM
From: T L Comiskey	Read Replies (2) \| Respond to of 176387

QT.......RE:Lately, Schwabs MM on my market orders has been giving me 100 shares than the rest. This has almost always resulted in me getting the better trade at the 100 and the obviously less desirable price for the bulk of my trade. ...Yes ......they do the same to me quite often.....thats why like you im considering changing.....Also...at $15...Fidelity seems like a winner......Good luck......tim

To: On the QT who wrote (81666)	11/21/1998 11:45:00 AM
From: arthur pritchard	Read Replies (1) \| Respond to of 176387

hi QT <schwab market orders> please see my response to tim's post. It seems to me that you ALSO may want to consider a high level data feed. I believe the secret is always using limit orders, which makes the mm really perform. When you use a market order, you are signaling the mm that you are not really on top of the market. One signal's the opposite with a limit order. Incidentally, i did learn this sitting in a room with about 15 day traders, and although i did not day trade the way they did, i did try to pick up whatever would be useful to me. Some days, i was trading 70,000 shares of Dell. It's like driving a car. You become able to actually compete with the market maker. Then after this exposure, one can scale back and only use this information whenever you want to. Once imbedded, i find the instinct never leaves me. Just like i can still just sit down and play the piano etc. etc.etc. Hope this helps! This is why i am always sad whenever i see hugely negative talk about so called day traders...as when new people see such comments, some may just write off the whole experience...when better advice (of course in life in general) is to try things out, and quietly take with you just the few seeds that may help you..and then go away to do your own thing...I am constantly curious QT... i'm sure you know that about me at this point!!

To: On the QT who wrote (81666)	11/21/1998 11:54:00 AM
From: arthur pritchard	Read Replies (1) \| Respond to of 176387

QT<use of limit orders in fast market conditions> i am REALLY OUTSTANDING at this, but have a special technique, and will explain later if appropriate. Again, there are a few things one learns from within a so called day trading room, and, that was one of the things i developed there. In fact i feel almost cocky in a fast market, it works so well. And again, once imbedded, you can call it up whenever you want it! This is why i say, "Happy Hunting"! (I forgot to put all this in my just post to you--sorry for the second post.)

To: On the QT who wrote (81666)	11/21/1998 3:33:00 PM
From: Craig Lieberman	Read Replies (1) \| Respond to of 176387

QT, Use Limit orders only with Schwab. They are fairly good at giving you execution at your price if you force them to. They still make money on order flow, etc. I think that Market orders are only for the times when you don't really care about the price. For when you ABSOLUTELY MUST SELL or ABSOLUTELY must buy. Consider picking your price somewhere between bid and ask or if it is moving, somewhere in the path of the movement. Submit limit orders and have faith that it will execute. Schwab may take 10 minutes to tell you they did the right thing, but at least they will trade at your price. If you give them market orders, they play a lot of games with you on the price. Just my own experience here. Craig