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: CharleyMike who wrote (8937)	2/19/1999 10:50:00 PM
From: tom pope	Respond to of 43080

Hi Charley. Well, my compliment to Schwab was a little backhanded, but it was meant to be a compliment. What I was trying to say was just that when your order finally makes it thru the labyrinth, it does get represented. Your order is MASH's. I tried Wall Street Access for three trades - you know, the guys who spend big bucks advertising hard they work your order - and waited literally all day watching trades go well above my offer without getting filled, and never seeing my offer represented on LevelII. With one possible exception, Schwab has never done that to me. Which doesn't mean I don't hate their order entry system.

To: CharleyMike who wrote (8937)	2/21/1999 1:42:00 PM
From: Matthew L. Jones	Respond to of 43080

I recommend AB Watley highly after Wall Street Electronica (small electronic firm with good clearing house), then a Wall Street firm called RF Laferty ("we're gonna get you the best executions"--not!) and then Web Street Securities (an incompetent,arrogant, and technical nightmare which would make E*Trade's recent problems seem calm). All of these firms receive payment for order flow-- really important. I never bought between the spread (let alone at the bid) until I got a good brokerage (Watley). Now that's the only way I buy. Executions are flawless using Realtick 3 software (supplied by Watley) and take all of a second or two from the time the order goes live. And not only do I get instant fills, I'm instantly represented in the market and I get execution confirmations as they happen. Totally cool. I just got their options package as well and it works seamlessly. I will never trade with an amateur's brokerage firm again. I had no idea how much the low or free commissions were costing me. Now, if I trade one and a half round trips a day, my real-time level 2 data fees are free, my software is free, my trades cost me $18.95, and I have direct access to all of the ECN's, NASDAQ MM's for SOES trades, and AB Watley's trading desk as well. If you haven't traded with Realtick 3 and a pro-level firm, you cannot imagine what you are missing. Matt