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> I've drooled over Timberhill since I first talked to them last
> September. At that time they required a $2M net worth and 200 RT's
> per month. Last I heard they had dropped the requirements to $50k in your
> account and 200 RT's/mo. But I just looked at their website at
> http://www.interactivebrokers.com and it looks like they've opened the
> floodgates for retail clients. The only requirements seem to be
> sufficient margin in your account -- you can trade the E-mini with as
> little as $5000.
>
> And the kicker is the commissions: FOUR DOLLARS (per RT, I think),
> with a minimum of $9.95 per order. That says you could trade the
> mini for as little as $10/RT for 1-2 contracts, $12/RT for 3. And
> that's with a direct connection from Timberhill to Globex, so you get full
> live bid/ask info, instant execution & fills, etc.
Unfortunately people dream too much when they see nice websites, promising
whatever people like to see
Just to get the math right for above offer (as per reading CORRECTLY the
web) it will be
1rt will be (min 9.95 per ticket kicks in) $19.90 - brrrrr
2rt will be (min 9.95 per ticket kicks in) $19.90
3rt will be $23.70 (thats ok)
So this still does not allow for the use of the main advantage of the MINI - to
scale in and out at LOW costs......
ALSO:
I used to have a TIMBER HILL TRADERWORKSTATION, which at the time
was a UNIX machine and returned it last year after 6 months of lots of fun e.g.
- they forget to put in FRESH batteries in their hend-held units in the S&P in the
morning and dont realize until I wake them up.
- had problems to log on for 1 hour each day for 10 days in a row.
- bad fills (in S&P)
- etc. etc.
It may be better these day - I cant judge - but that WAS certainly far from
perfect and STILL - COMISH is not all !!!!
Theses days I use LIND Online, which had their desaster aswell and looks state-
of-the-art of the 60īs, but seems to be quite ok (most times <g>)
rgds hans
Disclaimer: I dont own LIND
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