Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : LastShadow's Position Trading -- Ignore unavailable to you. Want to Upgrade?

To: AlienTech who wrote (3224)	11/25/1998 11:39:00 PM
From: KW Wingman	Respond to of 43080

You Wrote: > One line trading sucks! ... snip >With that I think the charges for systems like MBTader, ABWatley, JPM etc are worth every cent of the 500 or so bucks they charge a month just to gain access to the different MM's. Not saying they also dont konk out at times, But it is nothing like the others where you are at the mercy of the MM's clearing your broker. They all use some software with Real Tick III, or cyber trader. I cant begin to say how usefull such systems are since the 2 or 3 times an year you really need something like this is more than worth the excessive transation costs. Dont fall for the ETurd crap where they provide you with something similar but still the crappy executions. After all if you were short MALL today at 35 and it started rising, I think ETurd would not have been able to cover you before it hit 45. While the RTIII or such system would have got you out before 40. This part about being at the mercy of the MM clearing my broker is what I suspect happened to me 11/24 and has happened all too often. I put in an order to buy 1000 Cool at the market when it stated moving and was at about 30. I use fidelity fox+/Win95 pgm to trade via internet. After pulling the trigger, I like to get my fill details as fast as possible. I normally send a status request a few times (don't know if that does much good to speed up the confirmation but I do it anyway). In the case the other day it seemed like I waited about ten minutes and by that time the stock price had went up to 35 and was back down to 32. I sent a request to cancel the trade (knowing it would be filled anyway). The status then almost immediately reported that my order had been filled at 35 1/16. This was about the high during that period in the morning. This bad fill made me mad so I called Fidelity. They said they only had the order for one minute and talked about fast moving stock with orders ahead of me said they had a trading supervisor look at trade records and it was OK. ??? I figure I got skinned for about four points somehow. I just don't know how it was done or how to avoid it in the future. I have noticed lots of times when they are sitting on an open order that I can get a fast answer for fill by cancelling the order after I have gave it a minute or so to be processed. I then get the answer that the order was filled. I have long suspected that someone (MM probably) is sitting on the orders for much longer than necessary. I suspect they are somehow trading in their own account and screwing the rest of us out of a few 1/8s or points in a fast moving stock. I will look into these other trading systems you have mentioned as you imply I can bypass the MM/broker problem somehow. In my recent casewith Cool, I figure I maybe could have paid the cost service for about a year for the points I figure I lost on that trade. Regards, Wingman

To: AlienTech who wrote (3224)	11/26/1998 1:01:00 AM
From: David Meyer	Respond to of 43080

Why don't you folks try MBTrading.com. Data feed cost is $300. mo but free if you do 50 trades per month. Sometimes you don't get your order filled or filled as you want it, but they are a whole lot better than what you are writing about. I believe jaylyons uses MBTrading. Possibly he will add to my comments.

To: AlienTech who wrote (3224)	11/26/1998 10:43:00 AM
From: DayTraderKidd	Respond to of 43080

Alien,it is not the poor execution form the online brokers. I have always been happy with the price I get. What I do not like is Brown's consistently slow response time at the opening bell and that they keep having systems failures. Brown and Co. use to never have any problems. I could purchase any stock and get my execution confirmed all within 5 seconds. All for $5 dollars a trade. What more could anyone want? It is there incnsistencies that I can't live with.