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At 10:37 AM 7/29/99 -0500, Robert W Cummings wrote:
>Futures industry is having a hard time changing the way they have done
>business for so long.
You mean in the US.
Try the EU side of the world. Teutons led and the Saxons followed.
>With ET there is no need for membership seats to be such an advantage or
>priced so high without a pit or leasing either for that matter. Let them
>hang on to the old way and go to stocks and get 2 second executions. Maybe
>in another ten years they will catch on.
>Robert
>
>
>
>At 07:21 AM 7/29/1999 -0400, Zeus wrote:
>>I know this is the omega list, but I figured this is good enough of a
>>question to be up here.
>>
>>I have been trying to test my trading in futures and getting very frustrated
>>with the future broker industry. I think I have tried all the "good" ones.
>>
>>Leo-web: The IB I was working with changed my account number in the middle
>>of a trade without informing first. I got locked out of the software and
>>lost money. System connectivity, Leo-web, TOPS, CUBS is useless during a
>>more active day.
>>
>>Best-direct: Many times I had my trades show up in other people's accounts
>>and other people's trades will show up in my account. Easily fixed till one
>>of them involved a large loss and they tried to make me take it. Took three
>>weeks to resolve. System connectivity was lacking, never knew if they
>>received orders or not.
>>
>>PMBe: System locked me out because of a false margin violation on the EXIT
>>trade, not the entry trade. The system treated my cover/offset trade as
>>requiring additional margin. That trade was profitable. Calling the trading
>>desk when you are an electronic trader is useless, takes a couple of minutes
>>to get them to execute a trade. It is taking me over three weeks now to get
>>them to kill the trade, still no results.
>>
>>My trading is very short term and requires a very reliable broker. I am
>>basically a stock trader and I am used to reliable software. Is the futures
>>industry not ready for electronic trading? I don't want to change my
>>trading, it fits me too well. Am I wrong in expecting reliable execution
>>from brokers? Is anyone working with a reliable broker? As in no
>>connectivity problems or software problems?
>>
>>We trade as a group and this happens to all of us, not just me, so I know it
>>is not a fluke. I am sick of arguing with brokers trying to get back what's
>>rightfully mine. I am also sick of changing brokers, can't trade this way.
>>
>>I don't want to trade over the phone and I don't want to change my trading
>>style. Any suggestions? Or should I give up and go back to trading stocks?
>>
>>Thanks in advance and I hope that this information benefited someone,
>>
>>#######################
>>Shay Horowitz
>>www.zeus-holdings.com
>>www.teamzeus.com
>>www.shoguntrading.com
>>#######################
>>
>>
>
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