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I've gotten numerous private inquires re TimberHill since my post. The TH
url is www.interactivebrokers.com. For those who skipped over my comment
"you'll need an account with another broker for backup" while grasping at
the instant execution and low commissions, should reconsider:
THERE IS SERIOUS RISK IN THE INEVITABLE TIMBERHILL SYSTEM OUTAGES - YOU WILL
BE UNABLE TO EXIT AN OPEN TRADE UNTIL THE SYSTEM IS RESTORED. IF YOU DO NOT
HAVE A BACKUP ACCOUNT ELSEWHERE, YOU WILL BE UNABLE TO PROTECT YOURSELF FROM
SERIOUS LOSS BY DOING AN OFFSETTING TRADE IN ANOTHER ACCOUNT.
I can not emphasize strongly enough the need for backup with all electronic
systems. LeoWeb brokers will have an order desk available via phone,
TimberHill does not. Any further questions should be posted to the list and
not sent to me privately.
Earl
-----Original Message-----
From: Earl Adamy <eadamy@xxxxxxxxxx>
To: omega-list@xxxxxxxxxx <omega-list@xxxxxxxxxx>
Date: Wednesday, February 17, 1999 4:34 PM
Subject: Re: LeoWeb or TimberHill?
>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
>
>-----Original Message-----
>From: RBradshaw <magranda@xxxxxxx>
>To: omega-list@xxxxxxxxxx <omega-list@xxxxxxxxxx>
>Date: Tuesday, February 16, 1999 5:44 PM
>Subject: LeoWeb or TimberHill?
>
>
>>I would like to hear the pros and cons of these two systems for trading
the
>>Emini. Or any other entry system.
>>
>>Thanks RBradshaw
>>
>
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