Journal - My Switch From IB to Velocity Futures

Discussion in 'Interactive Brokers' started by mBear, Jan 8, 2004.

  1. mBear

    mBear

    Also requested by PM the X_Trader T&S. This saves to a file and you can set the maximum number of days to store.

    I have noticed that X_Trader doesn't seem to miss ticks that IB TWS data feed would occasionally. In fact, when I used Medved Quotetracker, it was only as a backup, because I couldn't rely on it to catch all the ticks.

    The filter is turned on in the T&S to only show trades (L for last) as opposed to also showing changes in the Bid and Ask.
     
    #51     Jan 21, 2004
  2. razorack

    razorack

    How does this compare to ButtonTrader?
     
    #52     Jan 23, 2004
  3. I made the same experience. And thanks to their open API I could develop my own addons for my trading strategy.
    Only once, some orders were not deleted although I deleted all of them at the end of the trading session. (4 pm) During after-hours-trading this order got executed...
    The bottom line after many unsuccessfull phonecalls: IB didn't feel responsible for this fault... :mad:
    Cheers :)
     
    #53     Jan 23, 2004
  4. It is VERY hard to trust orders that are left on their servers. IB
    messes up every once in awhile... You would think that they
    would have better software to accomplish their orders. But they
    don't... And they don't like to accept responsibility either... :(

    So you must have your orders on the exchange and forget about
    using thier servers... Unless you want to get bit once in awhile...

    Can you describe your experience in more detail?
     
    #54     Jan 24, 2004
  5. I've been using IB for almost 2 years.

    At that time (2002), I think it was the best broker for small- to mid-volume traders (under 10.000 round-turns per month). And think IB is still the best "main broker" option for this type of trader.

    Since the start, I considered that there is no "real" phone support from IB, so ever since I maintained backup brokers. I never had to use them though, except one time, when Globex went down in Apr-2003 but pit kept trading.

    Only time I tried called them (along with a few 1000s others I guess) was when they announced via bulletin they'd "suspend my account due to funds, unless I called them at XYZ number".

    The REAL SERIOUS FLAW with IB was several occasions where Globex resting stops (i.e. the usual "simulated stops" submitted via the TWS and held on IB machines) were not executed by IB. Price just traded through them and they didn't get triggered. One such period was mid-2003 (Thu,Fri and Mon) and again around end-2003 (for 1 day), if memory serves right. This was IB's bug and I lost a few thousand $ overall. I never experienced anything similar since.

    Overall feed and uptime has been very good in my opinion. I run TWS every day during RTH and get a few disconnects per week (due to momentary Internet outage in the path) are re-connected automatically within a few seconds. IB feed is faster than all data feeds I checked (understandable, as it's a snapshot feed, whereas a "real" feed like esignal has to send all ticks)

    And the overall platform was (and is) LIGHT YEARS AHEAD of the PATS Jtrader alternative offered by Man or Refco at the time.

    Overall, with the exception of the "simulated stop bug", my experience with IB has been very positive.

    I plan to look into the XTrader platform, although I'm not into the micro-scalper (for a few ticks in a few minutes) trading style, so I'm not sure what the benefits are.
     
    #55     Jul 24, 2004
  6. it is harder to reach IB customer service during regular US

    trading hours than it used to be

    I am still a loyal IB client and their other time zone

    customer support is still tip top and easy for me to reach
    when I have a problem
     
    #56     Jul 24, 2004
  7. Seems that this thread is opened by a velocity futures guy... Doesn't sound like a trader who really switched. Also the comments to this thread sound suspiciously like planned by VF...

    Awkward...

    :p
     
    #57     Sep 21, 2004
  8. Are you sure?
     
    #58     Oct 22, 2004
  9. #59     Dec 16, 2005
  10. Frege

    Frege

    Where?
     
    #60     Dec 16, 2005