|
PureBytes Links
Trading Reference Links
|
Kent:
Quite professionally done. They are clearing through Penson Financial
Services, and although I had never heard of that company before, they seem
to be up to the job. I have no complaints.
The usual disclaimer: I have no affiliation with either Penson or Cybercorp,
except as a customer.
Kind regards,
Michael
-----Original Message-----
From: Kent Rollins [mailto:kentr@xxxxxxxxxxxxxx]
Sent: Friday, December 10, 1999 22:01
To: Michael Suesserott
Subject: Re: Stop orders at CyberCorp
How is are their reporting statements? I have an account with MB Trading
which fronts for Southwest Securites and their statements are horrific. And
sometimes they are completely wrong.
Kent
-----Original Message-----
From: Michael Suesserott <MikeSuesserott@xxxxxxxxxxx>
To: omega-list@xxxxxxxxxx <omega-list@xxxxxxxxxx>
Cc: mailto:patterntrader@xxxxxxxxxx <mailto:patterntrader@xxxxxxxxxx>
Date: Friday, December 10, 1999 3:32 PM
Subject: Stop orders at CyberCorp
Phil:
I, too, recently changed brokers, and, to speed up things, transferred some
95% of my money by wire transfer. The money arrived at the new brokerage the
very same day. As you are alluding, brokers have a tendency to hold onto
one's dollars for dear life, and I do think this is the best way to get the
new account funded fast. You can close the old account later.
As regards Cybercorp, I, too, have an account there, and, basically, I love
this broker! Great software, especially in conjunction with Quote.com,
unbelievably fast response times, and friendly, helpful service.
One caveat, though: all stops are held on your own PC, and, if triggered
there, are sent from your PC as market orders. Although the software will do
that automatically, it is still the trader's responsibility to make sure
that the PC is up and running continuously (without crashes!), and that the
Internet connection is OK, for as many days and nights as the trade is on.
Cybercorp just doesn't offer market-held stops. They see themselves as a
leading-edge day-trading outfit.
So if you do any longer term stock trading, and that means longer than one
market day, IMO this broker is not feasible, because all the responsibility
to actually place those market orders (you cannot technically call them
stops) is on your own shoulders.
Hope this helps.
Michael
|