CyberTrader smart engine just kept sending and canceling order on inside ask until I was finally filled. I was of course filled on top of the short time wave, otherwise it could be much worse. I can't imagine what would happen if the stock kept going up. I'm getting some slippage almost daily, which I think wouldn't happen with IB. I already shared some of my experience with CyberTrader and Interactive Brokers SMART routing in this thread: http://www.elitetrader.com/vb/showthread.php?s=&threadid=45536&perpage=6&pagenumber=3 I asked CT help if there is something I can do to improve my fills for SMART routing. They told my to target ECN directly :eek: This is not acceptable for me since I'm closing my positions with hard stops most of the time. I'm also using stop limit orders to enter the trades and I don't get filled some of the times in which I think I would get filled wit IB. I already decided to move my account back to IB. I'm saving few hundreds/month in commissions with CT, but losing much more in slippage. I read some good comments about CT's good executions. Am I the only one having this kind of experience? Or am I the only one using hard stops? Am I doing something wrong?
hmmm. 18 cents on RIMM is nothing. In the old days, a SOES trader could have 50 cent or more slippage on a market order. Sometimes they would not get filled for MINUTES. You can be slow by 1/2 second and miss 18 cents in a stock like RIMM. By the time you see the action, orders are ahead of you. IB is prob faster than Cyber but I don't think that's your problem.
Rimm has been moving fast the last few days since that annoucement. Hard to know how much IB exectuion would have helped.
Yes, I was using cyberxchange routing. I thought that the problem culd be caused by my slow internet connection. Because my quotes from Cyber are sometimes few seconds behind my another data source. But I was assured by Cyber represenative that this is not the issue since all simulated orders are resting on Cyber servers. Anyway, I moved my account back to IB. My usual slippage on Ebay there was 0-1 cents. On Cyber, 5 is the norm (comparable market conditions). Can't wait to start trading on IB tomorrow again.
CYBERTRADERS............has anyone noticed improvements in their order execution speed? i like the .006/ share commission structure but am afraid of giving all that savings back and more in poor order execution speed. thanks.