A lil\ttle help

Discussion in 'Order Execution' started by omegapoint, Jul 12, 2007.

  1. New to trading. With TDAmeritrade I can route my trades thru
    either auto, INET or Arca. I don't know the difference among these three. Which one would most likely get me execution in a
    tanking position. Thanks for the patience.

  2. mnx


    INET (now nasdaq) does the most volume so it will probably get you the best fill at this point...

  3. You need a broker with software to scan the market for each order, to determine the best routing strategy, for each particular order, under the market conditions existing at the time of the order. A strategy of always routing to the same destination, regardless of market conditions or the details of your order, will cause you to receive inferior prices, will tend to delay your executions, and will tend to reduce the probability that you will get an order executed at all.
  4. yeah definitely need software to scan the market..
  5. thanks for replying.

    I've got Level 2 but I don't use it. I tried staring at it for awhile but the orders fly by and it's meaningless to me, I don't know what to look for. Even if it was explained to me I wouldn't get it. That stuff is so over my head that I just buy good companies with little downside risk. I would like to hide my orders cause they're large, but I don't think my broker has that feature and I'm getting 5.2% on idle money, 7 dollar trades and free everything so I'm with them for that.