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I looked at Interactive Brokers and like the price ($9.40 RT
including fees), but they don't offer phone orders as a back
up in an event of system failures (ie. internet, data feed,
computer problems).
I would have opened an account with I.B., but I need phone
back up.
What do you do if your computer goes down while you have
an open order? I was told to have a back up account with
another firm to offset or neutralize my open position.
-ernest
-----Original Message-----
From: Jay Becker <jay-mbt@xxxxxxxxxxxx>
To: Ernest Cespedes <demoman@xxxxxxxxxxx>; Omega Digest
<omega-list@xxxxxxxxxx>
Date: Friday, October 02, 1998 9:13 AM
Subject: Re: Globex Problems (again?)
>I use Interactive Brokers and have for the last couple of years. I had no
>problems and was able to sell the market @ 9:43 (EST) at a great price with
no
>difficulties.
>
>Jay Becker
>
>
>Ernest Cespedes wrote:
>
>> Did anyone experience placing market orders for the E-mini this morning
>> at around 9:35am? I'm using LFG (FuturesOnline), placed a market
>> order to buy E-mini, waited for the fill (usually take 10-20 secs),
>> waited and waited, and 4 minutes later called the order desk and was
>> told that my order was rejected. The Special Notices box did not
indicate
>> a problem with the system, but LFG is blaming the problem on Globex.
>>
>> So, to sum up this problem:
>>
>> 1 - lost 4 potential points per contract
>>
>> 2 - Saw a STRONG (the rarely seen Gravestone Doji) reversal bar at 9:45,
>> which I would have reversed my position to go short. Another lost
>> potential opportunity, possibly 5-10 points per contract.
>>
>> 3 - LFG is blaming Globex (again!)
>>
>> 4 - I'm not making $$ because of these problems. Just when the market
>> is giving me GREAT trading signals, this problem occurs.
>>
>> 5 - I'm pissed off as hell and seriously looking for another brokerage
>> firm that can provide efficient and reliable Order Entry system.
I'm
>> looking for quick fills and low commissions.
>>
>> -ernest
>
>
>
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