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Hi Cash,
I currently use ELocal Trading, and have been extremely happy with
them.$1.50/RT on the electronic contracts plus exch fees. They have
been excellent to work with in terms of telephone availability and
customer support!
My style does not currently use a Market On Open strategy, so I
haven't explored this feature among brokers. I trade frequently
intraday, and my systems give the market the first ten minutes of Reg
Trading Hours to react to imbalances, then they start generating
signals.
I do apologize if I was misleading. I was speaking hypothetically
from my own point of view. I do know several proprietary trading
firms that use Market On Open Limit orders (Limits managed through
their software, I think). I've coded and tested this strategy which,
as you know, is fairly easy to do on a single equity or several
equities, but considerably more manual across a portfolio. Because
it's been a curiosity only, I haven't pursued a rigorous study of this
approach-->i.e. I haven't run the tests over a large population of
equities.
================
Dave Nadeau
Fort Collins, CO
> -----Original Message-----
> From: cash@xxxxxxxxxxx [mailto:cash@xxxxxxxxxxx]
> Sent: Tuesday, August 21, 2001 12:38 AM
> To: dave@xxxxxxxxxxx
> Cc: omega-list@xxxxxxxxxx
> Subject: RE: Setting stops in TS2K?
>
>
> Hi Dave,
>
> I was going thru the archives looking for something and came
> across a post you had about opening only orders. I'm working on a
> similar system. Did you ever have any luck finding a broker that
> would do that for you?
>
> Based on your post, our strategies are different, but the broker
> needs may be the same. If I'm correct, you'll more than
> likely need
> to have a professional trading account so that you can put in the
> number of orders you need to get the number of hits you want.
> With a retail account, you'll be limited by your account equity.
>
> Cash
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