uptik2000 My RealTick is direct from Townsend ( www.realtick.com ) and not connected with ECHOtrade. I guess I may reconsider my quote fees in January if they start charging me for ECHOtrader. If I had a choice between ECHOtrader for $300 and FirstAlert for $375, I would pick FirstAlert for sure.
funny how uptiki you try to hint on Realtick -- Echo used to have RealTick but a majority of traders decided they didn't like it as much as the Echotrade for execution speed and costs were much higher (realtick made a minimum of $3.00 per transaction) so it is no longer available. Don't hint to me either as I'm only a class B member like everyone else. I have no stake in the firm, just like them. There is also AT financial available from what I see on the website. Echo also gets new software to test each week from different companies who want Echo to use theirs. They will quickly dump the current software if something better is found. Echo will require though that we can order through our servers and not theirs (much faster routing time). The squwak box is the a live feed from the S&P pit. A guy reads handsignals of what the pit is doing and talks about who is doing what. (Follow locals and big boys) It is a few seconds faster than any quotes can ever be as it takes a second for a clerk to type in the price. The key for the squwak box is listen to background. Is there a lot of noise? or it is quiet? The noise signals volume and that any momentum move is with significance. I am working with Echo on setting up a chatroom soon. rtharp
robert- I only hinted to you 'cause I know you are in Phoenix (or was) and as far as I know, neither Keller or DeWitt come on this site...but I trust what you say about Echo, and honestly the only experience I've had is with Realtick(which i like) and ILx w/ Merrill Lynch oder entry(i was broker there)...so I don't doubt that Echo is trying to get the best software for its traders... As I've said before, I'll probably end up opening an acct w/ Echo and if the people there are as helpful as people here I'm sure everybody will be profitable with a lot of hardwork, and maybe some day all of the Echo traders can play golf or just have a party(I work to live, not live to work)...there is nothing better than sitting around throwin back a few beers after you've made a killing I've gotten good feedback from you, Keller, and some people on this site who already have accts w/ Echo...so I'm comfortable with it. Peace "you can't lose what you don't put on the table"
Are there any remote users of EchoTrade using frame relay of fractional T to communicate with EchoTrade's LAN.
R Tharp or anyone else knowledgeable, I have a few questions regarding echo trade. 1. I assume that I could trade at home using a cable modem connection? 2. How are their orders routed for listed stocks? (through ISI or something)? 3. Do you guys have any trouble when you want to sweep you account of any profits (ie how long does it take after you request money to get it)? 4. Are bullets done right from the software or do they have to be called in? Any other information would be great, Leland
I'm not yet trading with Echo, but I can give some answers to the above. Someone else chime in if anything is wrong: 1) Of course. Echo says that they specialize in remote traders. 2) SuperDot. Orders routed directly to the NYSE. 3) Money can be swept twice a month. Your initial contribution is held for a year. 4) Bullets are executed directly from the software and cost 3c/sh. Hope that helps.
Since no one else replied I'll take the first stab at it. I'm sure someone can point you to some other thread which details this but I didn't want to leave you hanging. Retention of the initial capitol contribution for a specific period of time is a requirement of the exchange under whose rules the firm operates. ECHOtrade is a Pacific Stock Exchange member as are all who join ECHOtrade. You must remember that ECHOtrade is not a retail brokerage and operates under (i.e. is subject to) a different set of rules. It is for professional traders or those who wish to become professional traders and have fully evaluated the risk/reward of -joining- a professional firm. It is not like opening an E*trade account. For one thing E*trade doesn't require fingerprinting . The considerable advantages of the additional leverage, availability of bullets (for shorting anytime), writeoff of more than $3k loss in 1 yr (hopefully not needed!), wider availablity of shorts etc. that are afforded do have tradeoffs. They are detailed in the membership (partnership) agreement.
I notice at Echo that they have four screens. At present I use a Matrox dual head graphics card to run two 19" screens. Could you tell me what I need to run four 19" screens so I can spread my software over all four. I'm getting a bit short on space. Thanks Ken