Unfair Timber Hill charge for IB-unbundled pricing

Discussion in 'Interactive Brokers' started by ggoom, Mar 17, 2006.

  1. ggoom,

    You started this thread for the purpose of discussing an important topic. You are allowing stock777 to derail the discussion. You did not choose, as a thread topic, any question as to whether or not you are a profitable trader. This question has absolutely no relevance to your thread topic. You are allowing stock777 to put you on the defensive, and to make you debate an irrelevant matter which distracts from the real thread topic. This is one of the classic strategies, used by anti-social manipulators, to undermine EliteTrader discussions: simply suggest that the person starting the thread, or taking a particular position in the thread, is not a profitable trader. It is stock777's way of saying, "Mine is bigger than yours."

    Don't take the bait. Don't debate irrelevant topics, like whether you are profitable, or an idiot, or an hysteric. Don't allow him to put you on the defensive. You should instead go on the offensive. This means asking Baron to ban stock777 because he is not contributing anything of relevance to the discussion, he is interfering with worthwhile discussion, and he is simply misusing the thread as a forum in which to insult people, just as he has done in the past in other threads.

    Baron listens to such complaints, above all especially when they come from the person who started a particular thread. Baron says it is the thread starter's responsibility to police his own thread for inappropriate conduct, and to complain when it occurs. It is up to you, more than anybody else, to make the complaint.
    #31     Mar 19, 2006
  2. Jimrockford: you have made a valuable contribution to Elite Trader.

    Can anyone make a sensible retort to ggoom, or is everyone speechless?
    #32     Mar 19, 2006
  3. I had a hard time convincin' def to give us da choice to exclude any ecn of our choice from smart for options; now I am not gonna go into details about this matter here because it has been discussed already to exhaustion in a previous thread, but this episode has a similar resonance.
    thill trades like philly ones on options grant ib substantial profits derived from commish and da company obviously will do anythin' to protect its sources of income, u'd do exactly da same in their shoes; that doesn't make it right tho, but it won't be easy to change the way ib operates if that implies an immediate loss in revenue, even if it may have an evident impact on ib reputation and cosumer satisfaction overall, openin' da door for more and more perspective clients that would see ib as a very fair broker commited to take steps to improve its services like no other.
    I suggest u to keep raisin' your concerns, while invitin' ib reps themselves to discuss a possible solution in this board.
    good luck
    #33     Mar 19, 2006
  4. Bitstream,

    There are hundreds or thousands of liquidations per day done at market. Think how many would customers would be saved from damage if 60 minutes instead of 10 minutes was given from the opening bell! Would IB's risk factor increase in any way to give customers that extra time many need?

    Let's try to avoid suggesting IB's benefit by the market orders being routed to Timber Hill (the probable address) as being a factor--therefore, what does IB lose by giving more time to the customers?
    #34     Mar 19, 2006
  5. Option Trader,

    I don't see how your issue regarding IB's liquidation policy is relevant to this thread's topic. I think it is inconsiderate of you to use somebody else's thread to flog your unrelated cause. Do you plan to flog your cause in every thread somehow involving criticism of IB? I think you should use your own thread, if you want to keep flogging your cause. I'm not going to comment on the validity of your cause in this thread. My desire is to see an intelligent discussion, in this thread, regarding the topic chosen by this thread's starter. Please show some consideration for others by flogging your cause elsewhere, so that this thread can focus on this thread's topic. It is especially important, in your case, that you flog your cause outside of this thread, because, as you well know, your particular cause provokes a lot of personal attacks which will only serve to derail this thread.

    I realize that you are acting out of a sense of desperation, because of the large losses you blame on IB, but this does not excuse your behaviour, and it does not justify you in ignoring the concerns of others who are trying to discuss a particular topic not related to your dispute with IB. Thank you.
    #35     Mar 19, 2006
  6. JackR


    The original post by ggoom was made Friday evening after the market closed. I assume most IB people have a life (unlike us) and are gone for the weekend.

    I think ggoom's point was made, clarified, and responded to in the first series of messages. The rest of the thread is, in my opinion, off topic, and the off-topic thoughts have been discussed ad nauseam in other threads. I think we should wait until sometime on Monday to give the IB folks a chance to read and respond, if they so chose.

    #36     Mar 19, 2006
  7. look, I am not there to take sides, I was only suggesting to invite ib reps to discuss da matter.
    when I did so in the thread I mentioned in my previous post they didn't hesitate to reply and although nothin' was resolved (my fault prolly, I didn't push it further: ib said they would need a few examples of trades gone thorough philly while there was a better price elsewhere) ib replied, addressin' every concern I had expressed in my posts. the whole point of that thread was about havin' better exposure to the only ecn(box) known for givin' options price improvement most of the times.
    I have no idea what kind of compromise or solution can be found about timber hill routin', it is not exactly my problem, but, as I said before, if u invite ib to participate in the discussion u might have a better feedback than simply postin' a complaint and wait for posters to agree or disagree with u..this way u are goin' nowhere fast.
    #37     Mar 19, 2006
  8. Jim,
    The last point I made had nothing to do with my partner's case either--which was a midday liquidation. It had to do a bit with Bitstream's point. I appreciate you didn't come into this thread with a negative IB sentiment, and I did (which would vanish the moment they speak with us to the point), but in the end of the day, the focus is for changes to occur, and minimally for people to not be caught off-guard. I would say everything in private to them if I thought they would listen.

    You are never going to get as perfect as you hope regarding speaking 100% to the point on an open forum. Overall, I have tried to speak my case within another thread only to the extent issues are related.
    #38     Mar 19, 2006
  9. Perfection is unobtainable, but that is no reason for Baron to tolerate repeat offenders like stock777 and yourself.
    #39     Mar 19, 2006
  10. This one's beyond me. But if you want me to stay low, I can honor your request.
    #40     Mar 19, 2006