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get the stock at 10 ¾. Along these lines, I was showing my ATTAIN system to a large trading institution that was on the phone with its broker trying to buy 10,000 shares of a stock that I could see offered on an electronic communication network (ECN). The broker was reporting difficulty to the client and explaining how hard it was to find a 10,000-share block available for sale. The client saw the available stock on the Nasdaq Level II screen on my remote access computer and went wild. The result was one more customer for me and a kiss good-bye to the prior relationship. |
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For one who hopes to prosper as a trader, the quality of executions must be flawless. The executions must be fast and uncompromised, and reports must be instantaneous. Giving conventional brokers the opportunity to play with an order is an unacceptable position for a trader. Since the trader makes a living from the accumulation of small fractions of a point, there is no way for a successful trader to give up these fractions to a compromised broker or market-making system not operating in the trader's best interests. |
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DAET Represents The Future of Trading |
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To assure fair, fast, and accurate executions it is apparent that only an automated execution system will fill the bill. The Wall Street community has withheld automated execution systems from the public and continues to do so on major stock and commodities exchanges. The recent introduction of automatic quotation and execution systems is the technology that is paving the way for DAET to become an opportunity for the masses. For the first time in history, the individual can be as highly informed about market conditions as the market-making pro and have the opportunity to execute orders virtually instantaneously. The availability of instantaneous execution has severely eliminated execution risk, leaving only market risk as a deterrent to fabulous opportunity. As I stated earlier, with proper training and discipline, market risk can be readily controlled. |
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