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

To: - who wrote (4796)	5/30/1999 8:46:00 AM
From: LUANNE CLAY-RUSSELL	Respond to of 7382

hello!! i would be very interested in hearing more on the subject. i have the book electronic day trader and am going to sit down and read it again, this time with a new perspective (just started with mbt recently). had a question about partial fills and arca. friday afternoon i had a sell order on arca for 1,000 shares of iaco at 4 3/16 that i placed at 15:19. i showed up as second in line on the ask side and the stock traded in 1,000 share lots for 4 3/16 at 15:38 and 15:39. i got hit for 100 shares at 15:39 and a couple of trades went in after that at 4 3/16 for 1,000 shares. i am somewhat ignorant in this area as i am still a beginner with mbt and trading with level II. if you have the time could you please explain this to me. would i have been better off in this particular case to have offered on the island? sinceely, luanne clay-russell

To: - who wrote (4796)	5/30/1999 1:21:00 PM
From: Tai Jin	Read Replies (1) \| Respond to of 7382

Steve, I also avoid paying the spread by buying at/near the bid and selling at/near the ask. In those cases I just use ISLD to post my order. The interesting situation is when I have to get in or out in a hurry and ISLD is not at the ask or bid. In these situations, I can either go outside the market to take out a posted ISLD order, or use ARCA. I have found that using ARCA in these situations is very slow. Note that I am usually trading the Internet stocks, so maybe that has something to do with it. One thing to note about ARCA is that while it does not give you as many partials as ISLD, it still does and once you have an odd lot you cannot use ARCA to close your position. I think this is a design flaw. ...tai