The advantages of DAET over other types of day trading include:
Immediate access to the market
Direct price competition
Low overhead operation
Guaranteed liquidity
Capability of spotting market trends
Capability of shifting to an active arena
Built-in discipline
Immediate Access/Assured Execution
Day trading on most exchanges usually involves delays in execution of 30 seconds to several minutes. Even orders executed through "automated" systems such as DOT (NYSE) and AMEX (American Stock Exchange) are not automated order execution systems; they are actually routing systems, meaning that they quickly route your order to the specialist or market maker on the appropriate exchange for execution. Just because your order is quickly routed to the primary trading arena for that particular security is no guarantee that it will be executed at the quoted price you see on your quotation equipment. For any number of reasons, the trade you believe should be yours does not happen. Many times the quote is not accurate because of delays by reporters (exchange personnel who update quotes) in promptly adjusting markets (well, anyway, that's what you are told). Other times you are told that the stock "traded ahead," meaning someone beat you to the punch. In some markets, you don't get the trade you believe you're entitled to because of a "fast market." Simply put, when markets are active or in the process of moving, getting satisfactory trade reports from most exchanges is a nightmare. If you have had any experience in trading, I do not have to belabor the point. Getting imprecise execution and delayed reports has been standard practice.
