tntneo: âJTrader must check with the broker your margin limits etc⦠when you talk directly to Globex this information is not available.â Thatâs what I figured. What risk of âruinâ were you alluding to, though, in your post prior to the one above? Thanks.
tymjr that was the one I meant. My point (ok, not great one I admit) is that JTrader still needs to check with the broker, so there should be a delay between what you want to do and the actual order, despite the fact you are maybe directly linked to CME. That was only a remark. What is more important to me is when you say you find JTrader better with execution. Although I am worried by the other statement regarding its stability. Although I don't see why a trader would not send a stop loss order as soon as he/she is in a position, thus reducing risk associated with software hang ups.
I have to reply to this one: "according to a tech Iâve spoken with, J-Trader is connected directly to Globex2 via the FIX API while IB's TWS is not directly connected" some people will say anything..... think about it on a different level. assume 1000 terminals. Do you think they all are directly connected to Globex2? The tech guy you spoke with was passing on misleading info or was just clueless. The front end (IB TWS or j-trader) must be connected to a program/server that in turn will route the order to globex. IB's order pass through a program and in turn go direct to globex - just like every other broker connected to globex. IB's system does check for variables including size and margin. If you find a broker that doesn't do this - run. It is an accident waiting to happen. The time it takes a high speed computer to do this is negligible. Think of it this way. Even if you have a globex terminal at your home, the order still must pass through the server to the exchange. In essence all the front ends (JWS, j-trader, etc) are just replacements for the for the front end globex terminal.