Tradestation glitch cancels all GTC orders!

Discussion in 'Trading Software' started by EliteEd, Oct 13, 2009.

  1. EliteEd


    Opened up my platform today and noticed I had no standing orders showing. Should have had numerous GTC orders. Called and found out a server glitch had cancelled a bunch of GTC orders. I now have to reenter all of those orders.

    Not a serious problem for me, but imagine the consequences if your standing orders were hit....but not filled because they were cancelled in error.

    Be aware!
  2. EliteEd


    TS dropped my GTC+ orders for the second night in a row. What's worse....I never got any notice or email that they were having problems. Found out this morning that they supposedly fixed glitch last night.....but only after all the orders I reentered were dropped.

    Of course, this is not a problem for daytraders that don't hold positions overnight. But, for swing and position traders it can be a serious problem if you have a good till cancel order that gets hit.....but not filled.

    I'm still with TS because I like their charting and I'm so familiar with it by now. However, I'm seriously thinking of dropping them as a brokerage. Maybe I'll do minimum trades to get free platform and trade the rest of the month elsewhere. It's becoming a real nuisance.
  3. maxpi


    You could keep the TS account and trade with any brokerage and really, I'm playing with Sierracharts here recently, the look and feel is pretty good. You are going to have a harder time replacing the Radarscreen than anything else... Tradestation got that application right and all the rest are still playing catch up..

    People advocate having redundant brokerage accounts in case of outages.. maybe the way to go is to use TS as the backup account, use their software and trade mainly with somebody else...

    I think that all these brokers are going to have glitches though. I'd read the reviews on ET and pick one that had good customer service first, and reasonable transaction costs second...
  4. It happened again tonight!