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Well put. More routes are usually better. However, I believe you are more likely to get price improvement on the AMEX. The more Market Makers in a crowd, the deeper the "book" in ETF's. It will be interesting to see how the NYSE handles these ETF's. The AMEX...

This is an interesting topic. Unlike options , dual listing ETF's on the NYSE may not work for the benefit of the trader , Here's why : Assume the market in the QQQ is Bid 43.06 Ask 43.10 . If I Bid 43.08 for 4000 QQQ and there is no one else offering, the market becomes Bid...

The specialist or market maker may daytrade, arb or postion trade BBH. If he purchases the BBH in size , he may sell a basket of stocks that make up the BBH and lock in the difference (arbitrage). The specialist or market maker may see the order flow or know a floor...

True. Don't compare being the "dealer" and trading upstairs , with no order flow. My suggestion is to trade "liquid" ETF's. Gene Weissman Lieber & Weissman Sec., L.L.C. gweissman@stocktrade.net

For true daytraders , I would only trade QQQ, SPY or DIA. HHH's(Internet Holders) many times have a 1/2 or 3/4 Bid-Ask spread, a little too wide for daytrading. All ETF's(Exchange Traded Funds) are exempt from the Plus tick rule for shorting them...

Limitdown, Your point is well taken. I'm sure you had some bad experiences with the software, but from what you say most of the problems you talk about seem to be a lack of communication and knowledge. There are no "stop orders" on NASDAQ unless this feature is built into the...

Just one thing I wanted to mention. If you are using multiple software packages with REDI+ , I would recommend only using Windows NT 4.0 or higher and have plenty of RAM , minimum 128K(REDI+ alone) or 256K(REDI+ & E-signal , REDI+ & Bridge, REDI+ & AT Etc). See our...

Limitdown, I'm sorry you have had bad experiences , but it sounds like some of the problems may be with you and/or your introducing broker. Are you connected to REDI+ by internet or WAN(wide area network)? What version of the software are you using? Does...

Just a few thoughts from a firm that uses REDI+. Make sure you have a fast and reliable internet connection. If your ISP is slow or not reliable, no order execution system will work. Make sure your computer has enough RAM if you are using multiple software...

ALL firms that are setup as a (JBO)L.L.C. are not SIPC insured by definition. When you join a L.L.C. , you are becoming a partner of the L.L.C. and trading firm capital . The firm is extending leverage to L.L.C. members. The firms risk management is your...

Just one more site option traders may find interesting. Option trader Espen Gaarder Haug from Norway has a cool option site at http://home.online.no/~espehaug/ . He has free option calculators on his site and some cool Applets , click on this link to...

There are several EXCEL spreadsheet "add ins" for option pros. A good source for this information is at http://www.myoptionvalue.com/relatedlinks/ then click on "Valuation Solutions & Services" , then click on "Spreadsheets". I have free option Java Applets from Axone...

Zboy, Good point. The bandwidth of a connection doesn't always matter. You can get great executions on a 56k line. Network traffic, Brokers servers & systems , CPU speed and other factors can determine order execution speed & reliabliity. A dedicated 56k WAN line(we have one in...

I don't think data packet size ,transfer rate or adjustments at the traders end is the problem. The problem is quote vendors systems cannot handle the influx of data on the opening & the end of the day. Even our in house WAN T-1 will have a delay. I'm sure...

I would agree with you that the overnights are the real risk for LLC's. With REDI+ risk managemant software you can monitor remote traders real-time and put share limits on each trader. I could set a trader with $25,000 capital to 200 or 500 shares max or by...

Trading in an LLC does have some risk. However most of the leveraged firms(8 nationally) cater to daytraders, which means little or no overnight positions. If you do have a question about a firms capitalization , call the firms clearing broker-for Lieber & Weissman Sec., L.L.C...

This delay is very common using Internet quotes. Usually the delay may be the greatest at the opening & at the end of the day. A WAN connection to the quote server may help(point to point-dedicated line not Internet ), but this is quite expensive and only usually for trading offices. Our WAN...

Just a thought. At Lieber & Weissman Sec., LLC offices, we use Bridge(Quotes) & REDI+(execution & quotes) or A.T. Financial(Quotes) & REDI+(execution & quotes). From comparing the systems, we can see if we have any lag. REDI+ quotes are usually faster (up to 4 seconds), since REDI(Spear,Leeds...

Your question is a valid one with no easy answers. The Internet connection you have can "lag" because of heavy Internet traffic at various times of the day. The problem could be your ISP, Cybercorp's ISP connection or servers being backedup because of heavy Internet traffic. Execution...

Anyone can take a Series 7 exam providing the firms Self-Regulatory Org.(SRO) approves you to take the test. To be sponsored for the Series 7 test at Lieber & Weissman Sec., LLC , you would need to fill out a U-4 and U-10 forms and return them back to the firm. Disqualification from taking...