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specialists. As far as I am concerned, specialists will soon become an extinct species. |
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Remote trading is now a reality offered by a few advanced DAET brokerage firms. East of execution is provided through a standard telephone line or an Internet connection. A class DAET firm will have a remote system that can operate over standard modems and deliver a high-quality remote service with all the features and benefits of a terminal located at the main office trading floor. |
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The typical DAET trader sits in front of a computer terminal displaying Level II quotations and all other relevant information. This service is usually provided by the DAET trader's broker-dealer at the offices of the brokerage firm; however, a superior trading system can now bring this service to the trader's home or office. The on-site DAET trader usually has an added advantage by being in a "fertile" brokerage environment where many ideas are exchanged, but those operating outside of the broker-dealer office have also enjoyed much success. Many traders feel they concentrate better in the quieter environment of their home or office as opposed to the noisier although more electrified environment of an active brokerage firm. I have a theory that remote trading may help one avoid being part of the "herd" mentality where you are likely to get caught up in the momentum of a panic move. Good traders capitalize on panic, and they are also seldom a victim of it themselves. |
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The Internet is a public network originally funded by the government to be an alternative communications network in case of nuclear destruction of the basic telecommunications network in the United States. Generally, the Internet is not sensitive to |
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