WORST FILL EVER at Tradestation

Discussion in 'Retail Brokers' started by SideShowBob, Apr 4, 2007.

  1. I didn't realize until I came home and reviewed the days logs that I was RAPED and PILLAGED by Tradestation this morning. My stop market (simulated using their trading automation) was triggered at 09:12:19 AM and was filled at 674.3. When I got the email notification the price was around there so I didn't realize what had occurred.

    When I checked the Time and Sales logs I see the price was between 678 and 679 at that time. At best a $400 difference. I called and was told they'll call me back, but that I should always call right away. I didn't ask if that meant:
    1. call right away after every trade
    2. only call after those trades where I'm raped?
    3. only call after those trades where I'm filled $400 away from the current market price?

    Can anyone help clarify? Did this happen to anyone else? :confused: :confused: :confused:
  2. The TS datafeed on GOLD this morning was running way way behind - about 4 full points behind. The same thing was happening on the COMSTOCK feed. CQG Charting, IB's TWS and Futurepath's Photon Trading platforms were in line. So, if you were using TS prices you were most likely entering a market order nowhere near where the real market was.

    We noticed the discrepancy because we always have multiple data feeds on hand and I'm always looking at the price on multiple platforms to make sure they agree when it seems the markets are moving fast. It's the only way we keep out of trouble sometimes...

    Sorry about your bad fill but chances are that any log will show that the price you were filled at was the price that the CBOT Time and Sales will show at the time you entered your order. It sucks, I know but at least you know why now.


    PS: Of course I'm guessing here so I could be wrong about the reason you got a bad fill. Just trying to offer a possible explanation...
  3. I already figured there's no way I'm getting it back....nice to know that I should steer my business away from TS though :(

    I just checked my price logs from IB -- I see what you mean. Boy does TS SUCK!!!!! Even their time & sales is wrong!
  4. Bob,

    I'm not an advocate of TS in any way, but you should know this. IB, reputed to be one of the best futures brokers around, also experiences data feed hiccups every once in a while. I'd be surprised if you could find ANY data feed supplier that doesn't screw up at all.

    Your experience is frustrating to be sure, but traders need to understand that platform malfunctions are inevitable and do occur (hopefully rarely). The losses you absorb due to these hiccups are frictional costs that EVERY retail trader faces, just like slippage and commission.

    Sorry to say it, but if your trading plan does not allocate capital to these types of events, you need to revise your plan.

  5. Did u check my theard on the TS forum?

    I called in, the guy said there is nothing wrong with our data. How come the people anwsering the phone never admit there is a problem if a customer says there is a problem? How come they never care what the customer's problem is as long as we at TS dont seem to have a problem.

    I am lucky because i was just taking profit on it. If i am on the other side, i really dont know what to do!

    Final note, when i see 0.00 on the bid or on the ask, i figured it is possible for a lag.
    Now i am afraid to use TS's data to trade because there is no gurantee what u see is what u get in a fast market. And for non-scalper like me fast market is when i do my trading.
  6. I have seen 0.00 on the bid or the ask since sunday. I think it is a serious data issue which they havent realized yet. Perhaps it is the same situation as the NYMEX data last year.
  7. Sorry to say I don't bother even looking at the TS forum anymore. The TS staff respond a month later (almost as bad as the IB board -- funny though the IB staff respond quickly here!).

    I realize it is a trading cost -- and mine was a trailing stop. But the end result was giving back 50% of my profits instead of the 20% in the trailing stop :mad:

    I've had many many problems with TS and automation -- so many in fact I've moved most of my trading elsewhere, just keeping enough there to meet the 10 round trip trades per month minimum. But it still sucks :mad:
  8. Jeez,

    What's to stop them from delaying the feed for a half second to see where the market is heading and then filling you themselves and arbing the difference. I'm convinced some brokerages try this...
  9. Again as the 1st responding noted... You Gotta have multiple data feeds. One is never enough.

    And if all the Data feeds were lagging, then TS was right. Their feed was accurate compared to ALL the other feeds.
  10. In 5 years I have never seen a quote on IB that was DELAYED. I have seen no quotes and stuck quotes, but never a quote that was obviously lagged.

    Not saying it has never happened, but I haven't seen it.
    #10     Apr 4, 2007