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In a message dated 8/24/98 3:45:44 AM Central Daylight Time,
carisse@xxxxxxxxxxx writes:
<< While there are still hoards of traders scalping teenies all say long, most
do
not try to compete with MM's by making markets (although the wider spreads do
present some decent opportunities to those so inclined), but rather attempt
to
take advantage of short term minor price fluctuations. While SOES is still
in
use, it has declined in popularity, and ECN's are taking over as the vehicle
of
choice for stock daytraders. However, not all these traders scalp, as there
are
a variety of strategies of varying average holding periods that can and are
being employed to trade stocks on a short term basis. Essentially, L2 is
simply
a quote service, which can supply useful information to active stock traders,
whatever style they use. >>
I couldn't agree more. I have traded with and without Level II and level II
is far superior. I am a systems trader and do not try to scalp "teenies" but
use the system for a true look at the market. It only makes my profits a
little better.
Pert
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