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William S. Kaiser aka Zapman wrote:
> Dear Mike,
>
> I have read your "The Worst" e-mail several times now. You have a right
> to your opinion, except when it is slander and lies.
> I have forwarded a
> copy to our attorneys
William S. Kaiser <Zapman@xxxxxxxxxxxxxx>
President
ZAP Futures
Slander and lies?
lol. I think you're forgetting that I actually experienced all this
first hand!
It is not my intention to baselessly slander your brokerage, so if you
would care to disprove any of the FACTS i stated, i will gladly retract
them.
> I have forwarded a
> copy to our attorneys
Give me break, the last resort of an indefensible position - use the law
as a weapon. Problem is, I have a first amendment right to free speech
just like everyone else sir!
http://hotwired.lycos.com/special/lawsuit/index.html
If you don't like what I have said, then post an answer to the issues I
have raised, but dont threaten me privatly OK.
People on this list are not stupid, they can judge for themselves. If
you think I invented something, then say so, and back it up!
I have received alot of communication about this since last year.
Perhaps you would like to hear the tales of other traders who were also
less than satisfied with the service they got? Ive got many. You dont
need to turn on the brights to see a pattern here. For example:
I have been a victim of this very situation with ZAP and CUBS. I sure
would appreciate it if you could steer me to the broker you have found.
I certainly wouldn't mind a higher commission rate for some decent
service. Thanks for making the post to the Omega List.
Sincerely, name witheld
-------------------------------------------------------------
I had today AGAIN that ZAP <expletive> with an unexecuted limit order
while market trading at least 0.3 above my limit order.
name withheld
-------------------------------------------------------------
Also comming back to your comments regarding ZAP futures, I had a weird
experience today ! I realized that I can improve the chances of getting
limit orders hit , if i put them in odd numbers. So I had a sell limit
order at 1220.9 and saw the ticker at 1221 and waited for my fill which
did not show up ! I called ZAP and they told me, that there is a rule
where they only have to accept even numbers 0 and 0.5, so the S&P has to
trade to 1221.50 to get my limit at 1220.90 to be executed !!! They told
me that this is a CME rule. So i called CME and they of course denied ,
and told me its up to the broker how he executes my trade. So ZAP told
me now, its the "pit rule" where they trade !!!
So these <expletive>'s just first "look" if a order fits in their market
activity and than decide if they execute it or not !! So which better
options do I have ??
name withheld
-------------------------------------------------------------
The word is out Zapman. I am not the only one aware of all this.
But perhaps my energy would be better directed by promoting a broker
that DOES live up to a traders expectations from now on, as this is what
most people seem to ask me for.
I have had many responses asking me who we discovered in our exhaustive
search. We interviewed many brokerages and visited the floor to see how
their desks are situated etc etc. We found one that sounded to good to
be true. All the people we met were nice and had good attitudes. They
even took us to lunch at the CME.
Since then we have used them for trading Large SP, e-mini, NAS and NAS
mini. They have an excellent software platform if you like to trade the
minis, but their S&P order desk is superb. One of the traders in our
group (another ex ZAP trader) regularly gets fills at a price BETTER
than showing on the screen. In fact today they called him and told him
that they actually got a 1/2pt better price on one of his orders. Thats
an extra $1000 in his pocket (he traded an 8 lot).
The order desk is 15ft from the pit. There is an assistant standing next
to the broker filling your orders. As you are speaking the desk signals
the assistant who is telling the broker who starts buying or selling.
Its all one smooth action. It is so fast it is amazing. You are filled
immediatly. The ability of a broker to get the top step locals to trade
with him is a function of the status of that broker, and the company
reputation. Won't say anymore about that. Unless you are trading with
the guys on the top two rungs of the pit, forget it. You will get lousy
fills. Its not electronic which puts alot of people off, but the guys on
the desk are really nice and will give you alot of help. The extra
effort is more than worth it.
Otherwise, if you are an electronic order entry guy, the mini NAS and
e-min are offered with their software. You get fills AT the price on the
screen REGULARLY and INSTANTLY. I know of many traders who have moved to
Spike. I have had reccomendations for them from totally unconnected
sources and I feel good about reccomending them.
So who is this broker?
http://www.spiketrading.com/
Call Charlie on (800) 559 7109
Regards
Mike
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