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Mike
The truth is always a defense against slander. It is interesting that rather
than take
a "Did this really happen to you and could you forward me the particulars so
I can fix it." , they attempt to shut you up by beating you with their
stick. This leads me to "believe" that what you are saying is true and they
know it.
> -----Original Message-----
> From: Mike [mailto:pooltreatments@xxxxxxxxxxxx]
> Sent: Tuesday, June 26, 2001 8:34 PM
> To: omega-list@xxxxxxxxxx
> Subject: RE: Zap Futures/PerpETrader
>
>
> 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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