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Non-Tech : A.B. WATLEY - THE ULTIMATE TRADER! -- Ignore unavailable to you. Want to Upgrade?

To: Tim Luke who wrote (507)	1/16/1999 1:45:00 PM
From: Jim	Read Replies (1) \| Respond to of 2045

Tim, Thanks, you are truly a great help to ALL investors. I have your "No Hand Holding" site book-marked, and it is the first site I check when I log into SI. I am looking forward to your new web site, and have already E-Mailed you my address. Don't forget my suggestion to charge a small subscription fee to keep out the hypsters. Tim, I am from Canada, and just started trading on Nasdaq from the TSE in December/98 because the TSE is not liquid enough for momentum trades. I have been using ETrade Canada since 1997, but they charge $27 US minimum, for each trade. I tried to sign up with ETrade US to get their Power ETrade, but they only direct Canadians to ETrade Canada. I have taken your advice that without Level II on Nasdaq, you are trading blind. On the A.B.Watley site, they only show the Watley.Trader option with $9.95 trades, and on the Ultimate Trader, only service level 4 offering Level II. If I do less then 50 trades a month, level 4 would cost me $200 per month plus $20.95 per trade ie. $550 more per month for commissions (20.95 - 9.95 X 50). This would more then pay for Level II from PC.Quote. They do not show Silver or Platinum options. Tim, trading is not my business, but an enjoyable hobby now that I am retiring from owning a successful computer business. I hope to position or momentum trade using your stock picks and my own DD. I only trade for 2-3 hours each day. I value your opinion, and will probably take your advice. Thanks for your help. Jim P.S. I bought the book Electronic Daytrading, but it only convinced me that I could not compete with the pros and their games. Is there a good book that will teach me to use Level II?

To: Tim Luke who wrote (507)	1/18/1999 10:20:00 AM
From: Chris O'Keefe	Read Replies (1) \| Respond to of 2045

Please help: A.B. Watley/MB Trader Fee comparison I'm in the market for new trading software and am currently torn between A.B. Watley and MB Trader. I'd like to choose Watley but, unless I'm mistaken, their execution fees are vastly greater than MB Trader fees. Am I wrong? Example: If I sight a $1/share NASDAQ stock and I want to buy 80,000 shares of it... Using A.B. Watley's Ultimate trader Level 4 my cost is $823.95 [$23.95 (standard ticket charge) + $800 (.01/share for all NASDAQ orders over 10,000 shares)] Using MB Trader my cost is $91.80 [$22.95 (standard ticket charge with a "ticket" defined as 10,000 shares) * 4 tickets] This is a huge difference in price ($732.15!!) for the same result! All of this assumes I have interpreted the fee schedules correctly. Is my assessment correct, that Watley fees can be far greater than MB Trader fees? Also, if anyone thinks I should be considering another premier-level broker (i.e., a service that has Level II, ECN trades, etc.) other than Watley and MB Trader, please advise. Thanks, Chris