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Non-Tech : CYBERTRADER -- Ignore unavailable to you. Want to Upgrade?

To: tanstaafl who wrote (1781)	1/29/1999 11:40:00 AM
From: William W. Dwyer, Jr.	Read Replies (1) \| Respond to of 3216

Tanstaafl, I think you are doing the right thing. I have had particularly horrible experience using CyBerSmart keys trying to enter or exit stocks that are under any significant momentum. The CyBerSmart keys don't seem to work well for me. For instance, most traders prefer limit orders to market orders. CyBerSmart Limit keys send SNET limit orders which cannot be cancelled for 10 seconds minimum. I rarely get filled, the stock upticks to a higher price level, I have to cancel the order and replace it at higher price, then the same thing happens, and I sadly watch the stock I wanted to buy run up and up and up, without me, of course. CyBerSmart Market orders are just as bad, if not worse. They still send SNET orders to one MM at a time, each of which stay live for minimum of 10 seconds. I don't believe they are automatically filled as with an ECN, so the MM has to manually take your order - if he wants to fill you at all. In a fast stock, this doesn't happen often. So, again, you watch your stock go up and up and up, without you on board. Very frustrating. SOES orders are useless, never seem to get filled with them as well. The only consistent results I have is when using ISLD for entry and exit, in which case you need to buy when the stock is going down and sell while it is still going up, not something we instinctively want to do. I've tried Delta orders a few times, still have delays, but when I get filled it's usually too high to be of much value. Seems to get me in at the top or at least at some price outside the market. What's the point? Who wants to be outside the market? You can do that with any type execution system. All this is on fast-moving stocks, of course. On slower stocks, CyBerSmart Limit (SNET) orders seems to work okay. But, on slow ones, a phone call would work just as well, imho. Basically, until I see something change, I think it's dangerous to assume anything is really that "smart." So, as you're obviously doing, you gotta think for yourself....... and beeeeeee careful. Bill