ECHOTRADE

>The cancel feature that is mention
>above would stop this.

Nope. A trader is free to place as many orders as he/she wishes. These order can be as close together or as far apart as the trader wishes. It's just that when a trader wishes to move the position of any said order it can be done instantly (effectively) without double liability or the need to cancel and reenter the order.

Through FIX, a single order can be sent to modify an existing order rather than a two stage effort of cancelling and reentering. I don't know why my other brokers implementation of this isn't like IB's.

JB

 

I use IB and this is indeed a very good feature.
I think the implementation depends on the target of the order [cancel or modify].
Anyway, the comparison and contest is a bit irrelevant imo. IB is not a professional firm, so they don't do the same job. They have nice features and Echo has nice features. As long as both improve it's fine.

For me the competition is even less relevant because I think Echo does not do futures. OK, that's just me. I mention it because Echo is attractive and before trading futures I would have considered rushing to Echo. However for futures IB is really amazing. Like I said, it depends on the job and how you go at it.

neo

 

Echo trade doesn't offer futures? What else other than stocks can you trade with Echo trade?

Thanks.

 

>IB is not a professional firm, so they don't do
>the same job. They have nice features and
>Echo has nice features. As long as both
>improve it's fine.

I couldn't agree more. Can't wait for Robert to open up that office here in La Jolla. I'll walk my dogs down and visit him during the dead zone.

JB

 

Hi Robert,

Is the headquater for EchoTrade in Phoenix, AZ. I just found out
thier Phoenix office is located in the Biltmore area.

I am also in a process of switching to become a professional
trader.

Wonder if i can drop by their Phoenix office to check them out.

 

Hi Crazy

The main office is in Phoenix. Actually if you want I'll be there from Sept 15th ( this was just edited as I forgot to flip the page on my calendar--so no I'm not there yet.) to about the end of December so if you want to meet with me feel free to drop by then.

rtharp

 

Robert, will you be presenting at the seminar in October, if so, in what area?

 

I will be speaking for DaytradersUSA on December 22nd 2001 for the Orange County Chapter. I will be going into some basic money management, and talk about my entry signals that work in this market. This one will be available afterwards on the web on the DaytradersUSA website.

rtharp

 

After some comments regarding ECHO's trading platform, and due to the fact that it is being offered free of charge, my curiosity is piqued. Are there problems with the platform? After struggling with Quote.com for a year I am really not ready to deal with a poor interface at ECHOTrade. I've traded with MBTrading in the past, and I just assumed the VTS platform would be as good as RT. Any insight?

It appears that many pro-firms, probably in an effort to reduce risk and boost commissions, charge a "haircut" fee for overnight positions. Are these fees constructed in a manner that effectively negates the trader's ability to carry stock overnight? I've enjoyed swing trading at IB, an activity which is well suited to the IB platform and its order entry capabilities, and may need to keep that account open for swing trading even if I go to a pro firm if the "haircut" issue is a substantial one.

Thanks.

 

Robert,

I meant the training seminar Echo is putting on in Vegas Oct 26-29. I'm going to try to make it, but might have to catch a subsequent one, since it sounds like they're going to happen monthly.

Corey