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Strategies & Market Trends : The Final Frontier - Online Remote Trading -- Ignore unavailable to you. Want to Upgrade?

To: Eric P who wrote (7259)	5/16/1999 8:30:00 PM
From: Dan Duchardt	Respond to of 12617

Eric, I'm going to defer to others for the latest on this because I have not been actively trading for a while. I intend to start again soon. The broker I was with claims that they have overhauled their interface with SuperDOT and that everything now happens in a matter of seconds. I can say that I do not recall having any problems with marketable orders when I was trading unless I was trying for more size than was showing. Then as you might expect, orders would be broken up and the market could move away before being completely filled. That led to some of the problems I mentioned earlier with not getting confirmation on cancellations for several minutes. In virtually every case my confirmation "hung up" I later found that I had been filled, but of course you can never assume that you are. In most cases, marketable orders were filled in a few seconds to several seconds. In the example I gave earlier on AOL, you might expect some delay in getting confirmation of your fill because of the way the prints are aggregated. I'm not sure if the confirmations are sent before the prints, but I doubt it. Dan

To: Eric P who wrote (7259)	5/17/1999 12:36:00 AM
From: dave carroll	Read Replies (1) \| Respond to of 12617

For what it's worth, my biggest percentage loss ever came off of a NYSE trade. In the end I believe it was entirely my fault, as I was in a trade I had no business being in, but it amazed me how quickly the quote could drop about four points on a thirty dollar stock. I had placed a buy via superdot, it took about 1/2 minute for a fill, and as soon as I got confirmation the bottom fell out of the stock. I guess I was the extreme example of how a specialist "can and will" adjust a quote multiple levels immediately. Just my 2 cents..