I would love to measure the speed objetively. I am not convinced that the speed differences have anything to do with the software. Also, if you are clicking a mouse to execute, I don't believe it. Auto execution maybe there are differences. I think that people pay these prices for the software because it is pushed on them, or the alternative tools are just as expensive or poor. When you get into the realm of autospreading or any form of automated trading the parameters change dramatically and the number of choices goes to zero fast. But even still.... nitro
Nitro, I am not a tech guy at all. But I have traded for 11 years. I do notice a speed difference between TT and IB. Maybe it is based on my machine??? I don't know. For most things and most traders IB is fine. Although, I have seen booktrader freeze up my machine a few times. I use Zerolinetrader because it 'feels' and looks like TT. Traders are creatures of habit and if something is working I will not change it to save money. I hate CHANGE. Markets change enough ---so I do not by nature like fooling around once I get used to something. As long as it does what it is supposed to do and I jive with it. I do not mind spending the dough every month. Everytime I have cut corners or seen others try ---it backfires. But that is for scalping. If you are not a heavy scalper ---you have many other options. Of course, it depends on your trading style. When scalping heavily (thousands+++ a side) little differences can effect my trading in a big way. Once most traders get used to something --they do not want to change. I am no different. It is just psychological ---I know ---but confidence to put out a huge position at the right time (for my style trading) is very critical. Karma is everything and once you got it flowing ---don't change a damn thing. TT may not be perfect ---but I can always count on it to work for me. It has never really failed me. So basically if I ever need a custom app written ---I can hire you!
Yese, Transact is the same as YesTrader. But there has been a BIG improvement --they copied the DOM --it used to be different. They used to have this side by side funky GUI for market depth. It was back assward compared to TT ---now it is fine. However, this is a great example of "change sucks". I was trading for a group at the CME way back when. They forced me to use YesTrader and I got used it etc. and then wammo ---YesTrader went out of business. I got my way and switched over to TT. I am not worried about TT going out of business and everyone else copies them now anyways. But I know BIG LOYAL FANS of YesTrader that were very upset. Again Traders hate change. I am no different.
Are you in Chicago? I would be astonished if you could objectively prove to me that you see a difference between IB and TT when clicking a mouse. There are so many variables that it is very hard to pinpoint where the differences are, but if you really try hard enough in a scientifically sound way, I bet we could come up with the answer whether one was really faster than the other. That may have nothing to do with the software and with either your internet connection or the IB execution/data gateways. If you told me TT never freezes I would not believe you. Any program that acts over the internet has a hiccup either on the client or server once in a while. Perhaps so, but that does not justify spending $500/M for software for emotional reasons, or spending an extra $1.50 per side on commision for the same emotional reasons. I don't blame you, but again these are not objective reasons to assume an extra $500/M or to incur a much higher commission. Further, we are not commenting at just people that are used to TT and don't want to change. We are also making an assesment for those that the original poster advertises to. Again, this is not an objective appraisal. Well, I am in a different camp. I find that software generally gets better and more sophisticated every year. I have a feeling that it is not the software that is at issue, but the entire package that comprises your software + broker. People don't realize how many pieces there are in getting your order to the exchage. The software executing on your machine is just the client. There are at least two other pieces in between you and the exchanges in cases where you do not have true direct access, and that is the quality that you may be experiencing... I understand. But you are probably one trader in a thousand on ET that does thousands per side a day. Who is your current broker? Ok. nitro
But it's my understanding with Transact (and other front-end) the the bid/ask volume disappear when you place an order on the DOM...
As said previously I'm paying just a few cents more than using Jtrader to trade eCBOT bonds ; the cost on transactional model is 50 cents per side for TT, not different than many other brokers that offer Jtrader...overall it's the same bundled structure that IB shows for the 'All Debt'.So why should I use Jtrader again?
the new player on the block is Zen-Fire powering NinjaTrader fast easy to use... and reliable. I found three brokers that offeri it Proactive Trading... Mirus Futures... King Commodities...
Hello TGM, I apologize for the late reply. I have been out of the office. Here are the answers to your questions. Question: So basically I can logged into one or the other??? Ans: Transactional X_Trader users are only allowed to have one exchange license. Question: What are your margins for ICE Brent Crude (front month)??? Ans: $4,600.00 per lot