candletrader since their (IB)order-routing is way too time-consuming for precision scalping what exactly do you mean by this and how is tradestation's order routing different
In scalping you need to QUICKLY route to the destination of choice, that's all I mean... you need to be able to route and execute as quickly as possible... rapid routing isn't possible on IB... (don't confuse routing with execution speed)... IB still rocks for swingtrading though!
Looking for Level 2 trading platform with speed key execution capability and speed key order routing, comppetiotive monthly fee and competivie commissions. Is tradestation reliable? Is it a web based platform or direct connection to their servers? Karabugla and others have posted of problems, like system downtimes, really slow chart refresh rates, and server crashes. Would like to hear more please. Just opened an account at Protrader last month and got an Easter present from them. Raising the platform monthly fee to $200.00 per month if you trade under 20K shares per month. I can do it but don't like them changing the rules in midstream and don't want to be pressured into overtrading. These people forget who pays their bills. Its guys like you and me. What is Pointdirex like. If their trading platform is as slow as their home page, is their product slow too? I sit web based? Thank you for any replies in advance.
candletrader ok, i guess that you are talking stocks and not futures but i did have a look at the TWS for stocks and it offered the BEST or you could choose the exchange for trading the SPY for example - how does IB not get you in quickly in comparison to another company
Karabugla, looked up Nobletrading. $7.00 minimum trade with REALTICK. Personally can't afford that high of a commission in today's markets. If you are after short intraday swing trades, you need to have the lowest commission available. Otherwise you're always thinking about the cost of commission when you enter and exit a trade. Not a good way to trade. You also need to have fast order routing selection, hopefully via speed keys.
20% more in commissions just to keep it on the same screen!? It simply isn't that big of a deal! Istill use Realtick for charts but not for executions. And if you love IB's fills over TN's then you have to try Point Direx. THey are amazingly fast. In the live web demos, watch the live trades and see for yourself. THey are done daily and you can access them from a pop up box on the www.pointdirex.com home page.
In comparing the price differences the pass throughs can make quite a difference. It really depends on how you route. The following table is from Pointdirex.... ** Pass Through Fees SOES And Selectnet Cancels: Broadcast Selectnet: Preferenced Selectnet: SOES: ** ECN FEES $ .25 EACH $ 2.50 PER TRADE $ 1.00 PER TRADE $ .0025 PER SHARE ISLD: ATTN: REDI: INCA: ARCA: BRUT: DORS / Platinum only: MKXT: GNET: BTRD: NTRD: $ .0025 PER SHARE $ .0050 PER SHARE $ .0060 PER SHARE $ .0075 PER SHARE $ .0075 PER SHARE $ .0075 PER SHARE $ .0075 PER SHARE $ .0100 PER SHARE $ .0100 PER SHARE $ .0150 PER SHARE $ .0150 PER SHARE SEC FEES: $ 1/300 of 1% OF THE TOTAL DOLLAR AMOUNT OF SECURITIES SOLD. Well, the format of the table got screwed up but the first four items are relative to the next four prices etc. So, if you use ARCA you pay .0075 per share plus the .01, or the (possibly) new .007, per share which puts the cost higher than the TS6 all inclusive 1.2 per. If you use ISLD it's about the same at the current Pointdirex price, cheaper if they drop their rate. TS6 charges .0075 per share on trades of 1500 or greater...good for putting on a trade and scaling out. They also rebate the monthly $100 fee if you do 150,000 shares per month...no rebate on the Pointdirex $80 per month fee. Pointdirex also has lower fees if you do more than 50,000 shares daily. I haven't seen the TS6 software yet but if it's nice it may eliminate my need/cost of RT which I would probably use with Pointdirex. No ISLD rebate from TS6...I'm not sure about Pointdirex but I don't see an ISLD rebate mentioned on their site. The point about the possibly superior short list at TS6 is also part of the mix. Anyway, just thought I'd throw my shopping list out there. fwiw Mike
So is it a toss up between Pointdirex and trade station 6? are they both web based programs or direct sever to your computer internet address? do they allow speed keys for order routing and order entry? do internet drop outs require a new log in on the users end? Can you enter a limit order plus a delta allowance? Can you view your daily tickets in Excel format? Are the L2, time and sales windows and graphs linkable? Thanks for any replies in advance. Much appreciated