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Your DAET system should be feature-rich, with enticing bells and whistles, which provide all the information you will need to formulate a trading decision and have your trade executed. In effect, you will have many of the advantages of owning a seat on an exchange without the need to buy a seat or pay monthly membership dues. |
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Don't call me a SOES bandit. In fact, all I am is an average guy trying to make a dollar in the market utilizing the electronics of today. I prefer being called a DAET trader. |
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It may seem unusual for someone to have worn the "bandit" badge with pride, but strange things happen in the crazy world of Wall Street. "Bandit," "shark," "electronic highwayman," and "roach'' are just a few of the labels bestowed on me by my market-making peers on Wall Street. Animosity toward my trading activities by the Nasdaq market-making community and the National Association of Securities Dealers (NASD), itself is probably unprecedented in the U.S. financial markets. |
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Why the furor? It's quite obviousif I can cause this much outrage and denunciation from big, powerful market-making firms, I must be doing something very right. Why else would some of the most successful traders, utilizing billions of dollars in capitaltraders having every conceivable advantage, traders who deal with every major institutionfeel threatened by a small group of individuals who are trading small quantities of "high-cap" Nasdaq securities at current quoted prices? The answer to this question spells big trouble for Wall Street traders and unlimited opportunity for individual public day traders. |
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Day trading has been an honorable, rewarding, and legitimate activity since financial markets began trading. Wall Street professionals who participate in day trading activities, such as dealers, speculators, traders, market makers, locals, floor traders, and specialists, are usually held in high regard, and the successful participants are usually the subject of great admiration and envy. |
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