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Conclusion: DAET is one of the greatest opportunities to come along in this century. |
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Futurists tell us that 90 percent of the products we will be using 20 years from now haven't even been invented yet. For example, digital television, wireless communications, camcorders, PCs, and the like weren't around 20 years ago. Today, they appear in many households because they have been actively promoted and marketed by the industries that developed them. This analogy applies in reverse to DAET. Isn't it amazing that the leaders of this industry have not embraced this type of technology? |
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A first-class execution system used by the average person is the financial community's worst nightmare and your dream come true. The individual DAET trader does not have the fear of being abandoned, because there is always a way to get out of a positionsimply by the press of a button. The trader may or may not be happy with the present market price, but at least Direct Access Electronic Trading gives the trader the ability to access that current price, whatever it may be. Your execution program does not tell you what decision to make; it merely enables you to take action and have your trade executed. Programmed trading already exists, but I believe that the individual trader wants to make his or her own informed decision based upon numerous criteria. |
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How many times have you told your broker when a market is collapsing, "Get me out at any price." The execution risk is an embarrassment to the market-making community because the quoted prices are not always attainable by the ordinary person. Option letters and trading strategies are published advising to buy calls and sell puts; buy four of these and sell two of those, and you have to make money. The advice sounds great in theory and looks great on paper, but many times it is impossible to execute. It would be easy for me to tell any kid how to pitch in the major leagues; throw strikes, work fast, |
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