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

To: Philip R Berber who wrote (2025)	3/10/1999 6:59:00 PM
From: jebj	Respond to of 3216

>The Electronic Daytraders Association leads the day trading Industry response Certainly would expect them to take the lead but without serious support - and not just by being a member but taking an active part in the proceedings themselves - they can not hope to hold off what seems more and more to be a major broker industry/regulartory/media effort to make serious changes to the manner in which we not operate, not that some changes are not called for. >It is the power, speed and sophistication of such technologies and the increased sophistication of the traders that have squeezed the profits of the market makers et al. Plus the ECNs have further squeezed the traditional counter parties and middle men. Agree - and they have been scraming about it for years now as the industry has changed. What is a major difference this time is that we are seeing more and more media picking up the drumbeat of daytrading being a serious problem for the stability of the market, true or not, and the regulatory and political parties that can bring pressure starting to take notice. When an AMZN.com makes a 100 point swing in a matter of 30-40 minutes and the unbelievable actions of the internet stocks in general generating public outcry as to "what the H___ is going on", to sit back and "let someone else carry the ball" appears to be a bit shortsighted. Politicians are controled by one single thing - money. The brokrage/financial/banking industries certainly have enough to pull some serious strings and I respectfully say that the Ele. Daytraders Association is in far over their head if they must battle these groups as a block without serious, ACTIVE support from it's members as well as others. >So it is no surprise to any of us who have been involved in this industry for a number fo years to see yet another concerted effort to reduce the impact of day traders. Agree again, but it would seem that every assult gets them a little closer to what they would like - to kill, change or reduce daytading as we know it. >As for CyBerBroker, it remains very selective as to which traders we feel the CyBerTrader platform is suitable for in the best interests of the trader's themselves and their likelihood of success And it should be commended for doing so but the industry as a whole is open to some serious criticism as to the way they are conducting business and recruiting new business. Good or bad, Cyber will go as the industry goes when it comes to reg. changes. Better to be involved in helping shape those changes than sitting back and letting someone else do what "they think" is in your best interest. >In short, such news and noise and developments is nothing new, needs always to be taken seriuosly, yet it is perhaps of equal importance to ask who might be driving these moves and developments and why "Needs always to be taken seriously", is certainly the operative words - the who and why are obvious, it would seem - - those that stand to lose their income to new ways of doing things. >Over the past three years I have been told in one form or another that SOES trading or SOES bandits or day traders or day trading would not be here in x months time many times each year. We are still here and our business is growing, and we are diligent about regulatory compliance and customer care, training and suitability etc You are probably correct - I, and I am sure many others, certainly hope so. jb