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At 04:30 PM 2/17/99 -0700, Earl Adamy wrote:
>I have both LeoWeb and Timberhill's e-mini workstation installed for trading
>the e-mini exclusively. I had LeoWeb first and got fed up with slow response
>times (5-10 seconds) and high commissions for a process which is fully
>electronic. Once I installed the TH system, I never looked back to LeoWeb.
>The TH system runs circles around LeoWeb in speed of fills (rarely more than
>1-2 seconds) and includes real-time e-mini quotes (including b/a and size)
>which are faster than any of the major real-time feeds . Commissions are
>low - under $10 round turn all inclusive (providing you trade minimum of two
>lots). There are some real disadvantages to using TH: larger margins, you'll
>need an account with another broker for backup, limit orders only - not a
>problem for those who don't buy breakouts (they have announced a version due
>later this month which will accept market orders), and customer service by
>e-mail only. TH is not perfect as there are occasional short service
>outages.
>
>Earl
Earl,
I've leased the full strength Timberhill Workstation by Interactive Brokers
for awhile now & while I agree the execution speed is unrivaled, for me
there are some serious considerations about their software & their Support
(Help Desk).
I've had several disconnects/day at times, apparently due to the program's
sensitivity to internet bottlenecks (TH & I have each checked our ends/ISPs
re whether the problems were w/ either of us). In the process you lose any
open orders (stops, etc.) I've also had orders disappear from the screen @
the moment of transmittal (no continuing status to advise you so you're
left guessing), only to appear in my Executions Window later. Neither of
these problems could be corrected by TH. Waiting several minutes for trade
status to be determined by the Help Desk is an unacceptable eternity. You
say your support is via email? How do you feel about that? What experiences
have you had?
I've taken a month off from using Timberhill. If I elect to return, using
their downloadable software, I need it to be absolutely reliable, as having
to re-enter orders via broker/phone or relaunching their software if it
crashes/disconnects turns me off. And that's after dealing w/ their
non-broker "help" personnel only to realize they can't accept orders from
you when you discover you must take some action.
I truly want this to work. I feel that trading the minis w/ blazing
execution, minimal slip, @ low overhead commissions is finally a viable
alternative to the volatility, slippage of the big contract. Hopefully, the
past limitations can be weeded out.
Michael
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