Ok... So Ameritrade would fill a highly liquid stock transaction for 5000 shares for $1 (If i do 200 or more trades a month) as in bang in... bang out... like any Direct Access connection would...?? Really this is important to know... otherwise the $1 charge is a fantasy and more like a $20 fill, etc... thanks... <img src="http://www.enflow.com/p.gif">
Damn, I thought it was Goldmans black box I was competing with every day. No way, It was CoolTrade customers all along.
Edgehunter, for highly liquid SPY market orders, Ameritrade's fills are pretty fast in general. I have no idea how long it takes for CoolTrade to understand the market conditions and submit the orders to Ameritrade or IB accordingly. When/If you open an account, could you let us know your experience? Sorak99, do you know how many customers does CoolTrade have?
GTC: Being one of the original customers, I have helped CoolTrade by answering questions on it's forum. So based on that, I would guess in the thousands.
Sorak99, at CoolTrade, how much latency do you usually experience between "the market condition met" and "the order actually submitted" to the broker for execution?
I run two CoolTrade accounts. Latency becomes an issue when the strategy is more extensive than the computer can handle. If you create a strategy watching 160 stocks with 50 different long and short rules and that data is real time, it can take a little while to get through every other rule/stock before it comes back to execute. However, there have been times that I went to the bathroom, and when I came back I was in and out of a trade and I made over 500 dollars. Sometimes it even starts trading before itâs fully loaded in the morning. The answer: Depends.
Is there a trial period?? Is Cooltrade going into other markets?? Is it possible to secure the rights so that it can be used for other overseas markets?? Do they have tick charts/range charts?? Looks good.
Is there a trial period?? Oh come on! It's 40 dollars a month without a contract. My cell phone bill is higher... so is my cable and my internet. Not to mention groceries.... Customer Service bends over backwards to help you, if there is something in there that you want, or specific to your trading strategy, it goes in almost instantaneous. Is Cooltrade going into other markets?? I believe next will be options then forex. Is it possible to secure the rights so that it can be used for other overseas markets?? I dont know, but I dont think so. Do they have tick charts/range charts?? Charts are very limited. I'm surprised that noone is talking about the fee structure! 20 FREE trades 21 to 100 trades $3 101 to 200 trades $2 above 201 trades $1 Plus you can submit manual trades (for those wary of auto trading) Edited:for spelling
Sorak99, since most of IB's account now needs an extra number generated by the secure device, how does Cool-Trade handle the automated IB login? Reference: http://www.cool-trade.com/cc/Help.asp#45 How do I set up the Interactive Brokers workstation for CoolTrade�