2. What should I look for when evaluating a day trading execution system?
A. Some of the most important factors in evaluating a day trading execution systems are speed, reliability, cost, direct access execution and level 2 quotes. Today, the most sophisticated systems offer almost instantaneous executions. Commission charges generally start at 1.5 cent per share. It may be worth paying a little bit more for systems offering quality reliable executions.

You should be aware that some firms' prices may appear deceptively low. Things to look for are add-on fees, such as charges for trading with electronic communications networks, charges per ticket (as opposed to per share), charges for canceling orders and charges for specific types of orders, such as additional charges for SOES and Selectnet. In addition, the least expensive executions may be offered through firms who sell your order to another firm which is willing to pay for the right to take the other side of your trade. Firms that sell order flow may not be giving you the best opportunity to get executions. Day traders who trade for for living are likely to find advantageous to send their orders directly to the market through order entry terminal. In addition, active traders may also benefit from NASDAQ level 2 quotes. NASDAQ level 2 quotes provide traders with detailed quotes displaying which entities are buying and selling and how many shares each is willing to buy and sell.

3. What should I look for when choosing a day trading firm?
A. Once you are satisfied with a firms' trading system, you may want to evaluate the trading firm. The NASD offers two web sites that may assist you, nasdr.com and nasdaqtrader.com. Nasdr.com is a web site which provides disclosures that will allow you to make a request to view public information on a trading firm and a firms' members and representatives. To do so, first visit the web site at www.nasdr.com. Next, click on the button labeled "About Your Broker" and perform an online search of the firm or its members and representatives. Another option is to call the public disclosure hot line at 800-289-9999 and make a request for public information.

You nay also visit nasdaqtrader.com. Nasdaqtrader.com offers information concerning trading data. This web site can provide insight into which firms are the most active players.

After you are satisfied that your firm and its representatives are in good standing with the NASD, you may want to attempt to evaluate whether the firm has been successful in developing successful traders. Ask questions, such as "What is your turn over rate?", "How long does it take for most people to start to making money?", "What I talk to some of the traders to find out more about their experiences?" Be sure that you are satisfied with the answers you receive. A firm should be very forthcoming about this information and any other relevant information you request.

4. What is Island?
Island is a Electronic Communication Network (ECN) that allow customer orders to be represented directly in the NASDAQ market. It allows the individual to establish bids and offers in the market and frequently allows customers to gain the spread, as opposed to paying the spread to market makers. Island adds liquidity by frequently pairing customer orders. Island can be accessed through the Watcher from anywhere.

5. What is SOES Trading?
A. SOES is an automatic execution vehicle designed for the individual investors, which allows order entry firms to provide its customers with direct access to the NASDAQ National Market and its constituency of market makers.

6. What is Watcher?
The Watcher is an order entry terminal that allows the individual to participate in the NASDAQ market similar to the way a market maker would. It provides instant access to information and fast executions. The watcher is geared towards customers who wants to day trade for living, and trade frequently during a typical day. It tracks your profits, losses, transactions, as well as major market indices and provides the customer with access to NASDAQ level 2 quotes and the island ECN. The Watcher uses colors and arrows in a format that allows you to easily process and enormous amount of information and enables you to maximize trading opportunities. Most importantly, the Watcher can be accessed from anywhere.

7. How can I learn more about day trading?
A. Marc Friedfertig and George West co-authored two best selling books, The Electronic Day Trader, and Electronic Day Traders' Secrets, published by McGraw Hill. These books are currently available through our web site or your local bookstore. Tradersedge.net, an independent, nonaffiliated firm, offers a wide array of products and services including books, videos, a training CD and five day seminar. Broadway Trading strongly recommends that all prospective customers successfully complete this seminar or another quality seminar prior to trading and risking any capital. Tradersedge.net may vary be reached at (212) 378-4000. Broadway also provides customer and technological support to its traders and hands-on assistance on the use of the watcher.

8. What is NASDAQ Level 2?
A. NASDAQ level 2 provides the individual with access to a detailed quote that specifies which market and what their current interest is.

9. What are the advantages of trading NASDAQ?
A. Recent rule changes have allowed NASDAQ to offer day traders the ability to participate in a true electronic crowd. Traders can access the market similarly to the way market makers would without costly seats or strenuous financial requirements. Through technology such as the Watcher, the individual is placed on a more level playing field. Individuals can have access to fast, automatic executions. Individuals can access this electronic market from anywhere.

10. How have the new rules changed NASDAQ?
A. Individuals orders are now executed immediately or represented directly in the NASDAQ market. Individuals bids and offers are now provided limit order protection, ensuring that customer order have fair representation in the markets. It is now common for customers to trade with others customers as opposed to constantly paying the spread to market makers.