I need some info or experience from user's of RediPlus. How is there charting system? How is it compared to Nextrend or RealTick? Is it worth switching from Nextrend to Redi Charts.? Hans
REDIplus isn't the best platform out there. Charting sucks, I mean really sucks, sometimes it is missing days, isn't up to the second, and sometimes not even up to the minute. I think everyone will agree on that, and recently talked with tech support, upgrades are coming, but don't expect anything soon. The REDI market buy and sell keys are alright, work like smart keys, sometimes they seem to be a bit slow. The execution platform is about the same at the other things out there. Works really well at times and sometimes bites. This platform is not made for basket trading or scalping. Just too slow. Works fine for position trading, but the Position monitor sucks, no per trade p/l, it is all cumulative. Which is why it makes it difficult to basket trader, since P/L is very misleading.
Just a note. We have been using REDI+ since the system started. We co-marketed the ROX system which was one of the first all in one order execution platforms(NASDAQ/NYSE/AMEX/MM routes) in 1997. We have had alot of experience with direct access software and use REDI+ because we feel the software is an excellent all in one execution platform, that also has the ability to integrate with an Instinet terminal ,do away orders and futures . Like any direct access order execution platform, some will like REDI+ and some will not. Many of the problems I hear from traders using REDI+ are from traders who are using multiple sofware pacakges and don't have enough RAM. I reccommend 256 Meg of Ram minimum & 400MZ+ CPU , Windows NT 4.0 or greater or Windows 2000 if you are using REDI+ , DSL/Cable for remote traders. REDI+ will not work well on Windows XP. If you are set up correctly on REDI+ , you will get very fast executions on ECN match's and all routes . REDI+ charts are not really up to par, so we use AT financial & Bridge, to build a tradestation . REDI+ integrates well with these charting & news packages. See our trading software page for info on REDI+ at www.stocktrade.net/services/trade_soft.htm . We can use any direct access platform we want and REDI+ works well for us. The executions you get on any particular execution system will vary depending on your connections(WAN or Internet), internet bandwidth, hardware(computers), network design , software integration problems and conflicts etc. In terms of share volume , REDI+ is the largest direct access platform by a wide margin, because I feel it is a very good system . markettymer-You have to use REDI+ with a charting package. AT & Bridge works well for us. hans130-If you need a chart package-Try AT at www.atfi.com. REDI+ is not up to par as a stand alone charting package. Gene Weissman Lieber & Weissman Sec., LLC gweissman@stocktrade.net
I'm telling the truth, REDI+ is the largest direct access software in terms of share volume. REDI+ works well for us. I can use any software package I want. Why the negative comment? Gene Weissman Lieber & Weissman Sec., LLC gweissman@stocktrade.net
REDI pluses: Automatic Updates (even though updates are few and far between); the clock is in exchange time REDI minuses: Overloaded servers; rude and abrupt support personnel; plain jane interface; laughable charting; really annoying intra-day pop-up messages; limitted hotkey functionality
REDI pluses: Automatic Updates (even though updates are few and far between); the clock is in exchange time REDI minuses: Overloaded servers; rude and abrupt support personnel; plain jane interface; laughable charting; really annoying intraday pop-up messages; limited hotkey functionality Let me respond to some of your comments. SLK(RED+) is the largest direct access software provider . REDI+ is really for trading groups and hedge funds, so traders should go to their introducing brokers help desk first,. We have one risk manager for every 25 people , so we can always give support. There is no excuse for rude behavior, but if the REDI+systems go down(all systems do once in a while), the phones will get jammed up. I suggest you call your introducing broker first, if they don't have a good support staff, go somewhere else. REDI+ is mainly an order execution system. Overloaded servers-in the past this has been a problem during heavy volume days, however, REDI+ has improved capacity. Some of the overload is not REDI+(I know many traders who use other platforms including REAL TICK, CYBERTRADER etc.) . The NYSE & NASDAQ will slow down during peak trading times and most traders will complain about the software they are using, not knowing that the problems may be at NASDAQ or the NYSE or internet related. The internet on the east coast of the US "jams up" between 3:45 PM & 4:00 PM EST. Why? Everyone is sending orders to the exchanges at this time. The net was not designed specifically for trading , so as net infrastructure is upgraded and improved, hopefully these issues will be resolved. Laughable charting-AGREED! LOL annoying intraday pop-up messages-at least REDI is telling you that NASDAQ is slow, SOES is down etc. You can't please everyone. limited hotkey functionality - I have hot kets set up for REDI,ISLD, & Market orders. I would agree with you that platforms like the WATCHER may be better for NASDAQ scalpers, but not everyone trades with hot keys and since REDI is now pro-active and spreads are .01 wide, Hot Keys are not as important as they once were. If you want a true EDAT system that is all Hot Keys , there are better systems. REDI is not the best at everything, but a very good all in one order execution platform for NASDAQ/AMEX/NYSE. We have traders who trade 100,000 + shares a day on REDI, with very few complaints. Gene Weissman Lieber & Weissman Sec., LLC gweissman@stocktrade.net
No negativity, but please,,,THE SERVERS ARE OVERLOADED WHEN IT GETS BUSY IT GOES DOWN FOR THE COUNT,,,,THE BOOKS GET STUCK,,ORDERS GET STUCK ,HOTKEYS ARE PATHETIC-TRY TO CHANGE YOUR SHARE VOLUME OR PRICE ,,,,DONT YOU UNDERSTAND HOW COMPETITIVE IT IS OUT THERE???THIS SYSTEM REQUIRES 80% MORE MOUSEWORK THAN NEEDED--THUS THE FORMULA FOR GETTING WHACKED BY MARKETMAKERS AND USERS OF BETTER SYSTEMS,,,,THE SLK MM'S THEMSELVES HATE IT. Maybe you have a clearing arrangement for your benefit which makes you happy,,,I dont know the reason, but redi sucks....
No negativity, but please,,,THE SERVERS ARE OVERLOADED WHEN IT GETS BUSY IT GOES DOWN FOR THE COUNT,,,,THE BOOKS GET STUCK,,ORDERS GET STUCK ,HOTKEYS ARE PATHETIC-TRY TO CHANGE YOUR SHARE VOLUME OR PRICE ,,,,DONT YOU UNDERSTAND HOW COMPETITIVE IT IS OUT THERE???THIS SYSTEM REQUIRES 80% MORE MOUSEWORK THAN NEEDED--THUS THE FORMULA FOR GETTING WHACKED BY MARKETMAKERS AND USERS OF BETTER SYSTEMS,,,,THE SLK MM'S THEMSELVES HATE IT. Maybe you have a clearing arrangement for your benefit which makes you happy,,,I dont know the reason, but redi sucks.... OVERtheLINE, Just curious, where do you trade(you don't have to give the name) , but one firm that had REDI+ that is now self clearing and one that was taken over by a discount broker had traders that always had similar problems and we do not. The reason I assume that they have these problems all the time must be locally related. Many firms just sign up traders or give them low rates and do not maintain their equipment or network. We have two T-1's in all our offices , maintain our network and have a full time Windows tech & programmer. I would agree with you that REDI will have problems once in a while, however, traders who are successful traders complain less. The trader, no the EDAT software is the most important thing. I'm sure you know how slow an Instinet terminal is compared to REDI+, REal Tick or any other platform, but many 100 million dollar+ hedge funds only use and swear by a Instinet terminal. My point is if REDI doesn't work for you , use another system and see if it is better. I have tried many platforms and they all have good points, bad points and they go down once in a while. Gene Weissman Lieber & Weissman Sec., LLC gweissman@stocktrade.net PS make sure you have these system requirements before using REDI+ : www.stocktrade.net/services/redi/redi_download_require.htm