How does Pats weigh in against other platforms? What is better/worse? Anyone seen eFloorTrade new software. Trade from one window. Pretty impressive stuff. All comments appreciated.
Where do u find the new software? Looked at their site but it appeared to just be regular Jtrader. Is there a new demo? Thnx
I will be going to Chicago next week to talk to Patsystems(J-Trader) and our Clearing Firm (Goldenberg, Hehmeyer & Co.) about the new upgraded J-Trader.
777, It's no big deal. There is no mysterious advantage. It's just a slightly different order screen. There is a feature called DOME (depth of market execution.. or that's close) set up just like level 2. It is a ladder format with the bids climbing up the left side then the market and then the offers up the right side, and you can just click if you want to bid or offer. But everybody else is doing just like you, bidding offering and pulling so it doesn't give you any secret information. You can join the bid or offer or both. Very nice for scalping, but really, with all the 3rd party stuff going on, you can switch order entry platforms now without switching brokers. I made a huge profit using it. I enterd an order and the order disappeared, so I entered it again and it showed me flat with a loss. Next morning there is all this money in my account. I call the broker and it turns out I am short. I tell him to close it out and he says, "You know, if that order was a mistake, you don't have to take it."
Puffy, The problem wasn't with the broker, the problem was with J trader. That's one reason I quit using it. But it's no worse than tws.
Yeah, but if you end up with a loss they usually would say: "You know, even if that order was a mistake, you have to take it !"
I spoke to the guys at floortrade and they said that they are re-vamping their website. you have to call in to see new software through netmeeting. I found it easier that way because they answered questions right on the spot.
I have to ask, how long had you been using J-trader? Is it possible the software would have shown a working order, you just didn't check? I never held a position overnight, but supposedly my broker would send an email if I had any open positions after the regular market close. I know they cover themselves pretty well in the contracts we sign, but its hard to believe they could just randomly stick you with an order.
red, No, my brokers account was accurate all the time. That's where I should have checked. But I was just going by what j trader said. The order was executed but not reported by j trader. They didn't try to stick me with anything. The guy at the trading desk who closed me out saw it was a great trade and was offering to take it off my hands. Not as official policy, just as a personal favor. Yes I'm quite aware of what would have happened if it were a loss. J trader executes trades on your behalf. It is in effect a third party order entry program, not really any different in concept from autotrader or bracket trader or any other program that you might choose to use to enter orders for you. If you had the rights and knew how to use api, you could set up j trader (or something exactly like it) to run with tws. My only purpose in posting was not to bash jtrader or tws, but just to offer an opinion that it really isn't some big deal. Both systems give me the feeling that they are held together by bailing wire.