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Pete,
Thanks for the update.
Mike
--- In amibroker@xxxxxxxxxxxxxxx, "Pete" <dryheat3@xxx> wrote:
>
> Update for Mike on MB Traders:
> I spent some time on their demo software and so far the only import
> function they support for basket orders is to import from your open
> positions. I chatted online with one of their staff and was informed
> that they had recently removed that feature but plan to add it back
in
> to some future version. So, I guess they are trying to work out some
> bugs from their first implementation of this feature. But they do
> offer several options for integrating with other charting apps so
> perhaps one of them enables uploading of basket orders???
> For now my volume of orders is not going to benefit from this
feature
> so it's not a deal breaker for me.
>
> Pete :-)
>
> --- In amibroker@xxxxxxxxxxxxxxx, "Pete" <dryheat3@> wrote:
> >
> > Very good point about being able to upload basket orders
using .csv or
> > other import function. I will make sure I cover that in my
analysis.
> > I'll let you know if MB Trading has enhanced their platform to
> > accommodate this. Linked charting is something that Scottrade does
> > extremely well and I am going to need to have this feature in any
> > potential broker before I'm willing to make a move.
> > Thanks again for all your input.
> >
> > Pete :-)
> >
> > --- In amibroker@xxxxxxxxxxxxxxx, "Mike" <sfclimbers@> wrote:
> > >
> > > Pete,
> > >
> > > I did review MB Trading about 1.5 years ago.
> > >
> > > According to my notes, they did not have the full basket order
> > > support that I was looking for. My notes aren't detailed, but
I'm
> > > assuming that they did not support importing a list, but rather
only
> > > allowed you to create a list through their UI (i.e. time
consuming
> > > and error prone typing).
> > >
> > > Also, at the time they did not have a web client accessible
from
> > > behind a firewall. I don't know if that has changed or not.
> > >
> > > The other thing I was looking for was to click on each symbol
in my
> > > list of positions, and have the chart update to show the new
> > > selection. MB Trading did not support that at the time. I don't
know
> > > if they do now.
> > >
> > > Good luck with your search.
> > >
> > > --- In amibroker@xxxxxxxxxxxxxxx, "Pete" <dryheat3@> wrote:
> > > >
> > > > Mike,
> > > > Thanks so much for taking the time to provide this very
detailed
> > > > description of your personal experience with several brokers.
I can
> > > > see the value of being able to upload basket orders and this
was
> > > > something I had not considered before. Now it's on my list. I
am
> > > > really attracted to the idea of being able to trade from
Amibroker
> > > and
> > > > IB so far seems to be the only broker which supports this.
> > > > Someone else recommended MB trading. They don't support
orders from
> > > > Amibroker but they do support a trading interface with
several data
> > > > providers. Since you are using a separate data provider you
might
> > > > check them out.
> > > > http://www.mbtrading.com/default.asp
> > > > So far, thanks to the recommendations and opinions of others,
they
> > > are
> > > > at the top of my list.
> > > >
> > > > Pete :-)
> > > >
> > > > --- In amibroker@xxxxxxxxxxxxxxx, "Mike" <sfclimbers@> wrote:
> > > > >
> > > > > I've used TradeStation, eTrade, Scottrade and Interactive
Brokers.
> > > > >
> > > > > I complete well over a thousand round trip trades a year
using
> > > EOD
> > > > > data. I typicaly place anywhere from a dozen to a couple of
> > > hundred
> > > > > limit orders each night, only about 10-20% of which ever
get
> > > filled.
> > > > > I plan to continue working full time for at least the next
year.
> > > > >
> > > > > As such, the most important features for me are:
> > > > >
> > > > > - Low commissions
> > > > > - Ability to upload basket orders
> > > > > - Web access from behind a firewall (while I'm at work)
> > > > > - Easy reporting, exportable to GainsKeeper or TradeLog for
the
> > > > > accountant
> > > > >
> > > > > TradeStation
> > > > > - Honestly, I don't recall if these guys supported my
> > > requirements. I
> > > > > only started with them because they seemed more
professional than
> > > > > AmiBroker and I needed a backtesting tool. However, I soon
found
> > > out
> > > > > that they had fixed limits with respect to not being able
to scan
> > > > > more than 1000 symbols (or somewhere around there), so they
were
> > > > > useless to me since I scan 8000+ each night. Their
comissions
> > > were OK
> > > > > (penny a share), but if you ever made fewer than some
number of
> > > > > trades you got hit with a $100 monthly platform fee. With
my
> > > volume
> > > > > that was not an issue, but it irked me anyway.
> > > > >
> > > > > eTrade
> > > > > - Again, I only went with these guys because my employer
> > > > > automatically opened an account for me when I joined the
employee
> > > > > stock purchase plan (ESPP). Even with active trader status,
they
> > > were
> > > > > too expensive ($9.99 each way), did not support basket
orders,
> > > and
> > > > > required special permission and a whole lot of phone calls
to
> > > open
> > > > > more than one margin account. Customer support was VERY
slow with
> > > > > LONG wait times, but helpfull once you finally got through.
> > > Trying to
> > > > > connect using the web client during fast trading would
sometimes
> > > > > fail.
> > > > >
> > > > > Scottrade
> > > > > - These guys had excellent customer support, I was happy
with
> > > their
> > > > > desktop platform and the web based access from behind a
firewall.
> > > > > Depending on your order size, their comissions are higher
than IB
> > > > > (for stock orders of fewer than 1400 shares, they're better
than
> > > IB
> > > > > above that point i.e. $7 each way vs. .005/share). They
suffer
> > > from
> > > > > the same charting problem as IB in that they do not show
the
> > > correct
> > > > > EOD Close and so can screw up an EOD trader (
> > > > >
http://finance.groups.yahoo.com/group/amibroker/message/116777 ).
> > > I
> > > > > use a separate data provider because of this. However, the
> > > biggest
> > > > > problem for me was that they did not have support for
uploading a
> > > > > basket order. Trying to type in dozens or hundreds of
orders each
> > > > > night is just too time consuming and error prone. My
request for
> > > this
> > > > > feature went unfulfilled. Had they offered basket trading,
I
> > > probably
> > > > > would have stayed with them.
> > > > >
> > > > > Interactive Brokers
> > > > > - It's a mixed bag with these guys. They have been awful.
They
> > > update
> > > > > their software constantly and introduce new bugs every time
as a
> > > > > result. Complaints go unaddressed for weeks and months if
ever
> > > > > addressed at all. Support tickets get closed after a period
of
> > > > > inactivity, even when the ball is in their court! You have
to
> > > keep
> > > > > pinging your ticket just to keep it alive. However, feature-
wise
> > > they
> > > > > are one of the best games in town. They offer everything I
need.
> > > An
> > > > > AmiBroker exploration can be written to output the format
of an
> > > IB
> > > > > basket order such that 1 click import and you're done.
> > > Alternatively,
> > > > > the IB plugin from AmiBroker can be used to place the
trades
> > > > > directly. Their web portal is satisfactory. They support
> > > GainsKeeper
> > > > > and TradeLog, including Mark To Market accounting. Despite
the
> > > above
> > > > > negatives, they recently did a complete overhaul of their
> > > software
> > > > > that fixed all my outstanding issues (over a year later for
> > > some).
> > > > > So, for the moment, they are the perfect setup for me. But,
once
> > > > > burned, twice shy. If they can stay stable for a period of
time,
> > > I'll
> > > > > feel better about recommending them.
> > > > >
> > > > > Mike
> > > > >
> > > > > --- In amibroker@xxxxxxxxxxxxxxx, "Pete" <dryheat3@> wrote:
> > > > > >
> > > > > > I've been with Scottrade for several years and now that
I've
> > > become
> > > > > > more educated about the different types of markets out
there to
> > > > > trade
> > > > > > in I have realized Scottrade does not offer much. Just
low
> > > > > commissions
> > > > > > and a nice, user friendly trading platform.
> > > > > >
> > > > > > It would also be great if you were willing to share the
name of
> > > the
> > > > > > brokerage but I understand privacy is top priority. But
that's
> > > the
> > > > > > whole point here. I'm trying to save time searching for
the one
> > > with
> > > > > > the features I want. I'm hoping you all can provide some
helpful
> > > > > > advise by describing what features you find most
important and
> > > why.
> > > > > >
> > > > > > Here are some thoughts I've been tossing around as
features I
> > > would
> > > > > > like to see in a single brokerage:
> > > > > > 1. Reasonable commission structure
> > > > > > 2. Trading available on Forex, Commodities, Equities, and
> > > Options
> > > > > > 3. Ability to trade on Asian and European markets
> > > > > > 4. RT Data feed which can be easily linked to Amibroker
> > > > > > 5. Reasonably priced RT streaming quotes and charts
available
> > > for
> > > > > > smart phone/Pocket PC's.
> > > > > >
> > > > > > Thanks for taking the time. Looking forward your
responses.
> > > > > >
> > > > > > Pete :-)
> > > > > >
> > > > >
> > > >
> > >
> >
>
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