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Thanks Lou,
I just downloaded QT yesterday and I"m just getting the feel for it.
For the first year or so I plan on most of my orders being executed at
market open so for the early stages I just need the lowest commission
at the best execution prices. At this point it seems a 50/50 split
between MB trader and IB based on these parameters.
I really appreciate everyone's input on this topic. I have learned a
great deal and stored several bookmarks for future reference.
Thanks again!
Pete :-)
--- In amibroker@xxxxxxxxxxxxxxx, "lou" <loulh@xxx> wrote:
>
> Pete -
>
> I don't use basket orders so am not up on all the capabilities but
MBT does
> use Quote Tracker so that you can use your AMI Broker's charting and
> selection abilities (including watch lists) which can be exported to
QT and
> I do think that you can initialize an order via Quote Tracker. As I
said, I
> haven't used MBT but this might be something to look in to.
>
> lou howard
> ===================================================
>
> ----- Original Message -----
> From: "Pete" <dryheat3@xxx>
> To: <amibroker@xxxxxxxxxxxxxxx>
> Sent: Monday, September 01, 2008 1:05 PM
> Subject: [amibroker] Re: Opinion Poll: Who do you trade with? Why?
>
>
> > 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 :-)
> >> > > > >
> >> > > >
> >> > >
> >> >
> >>
> >
> >
> >
> > ------------------------------------
> >
> > Please note that this group is for discussion between users only.
> >
> > To get support from AmiBroker please send an e-mail directly to
> > SUPPORT {at} amibroker.com
> >
> > For NEW RELEASE ANNOUNCEMENTS and other news always check DEVLOG:
> > http://www.amibroker.com/devlog/
> >
> > For other support material please check also:
> > http://www.amibroker.com/support.html
> > Yahoo! Groups Links
> >
> >
> >
>
------------------------------------
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