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I have called their customer service line and gotten immediate support.
Remember we are talking their Trading Brokerage.
Jim Bronke
Phoenix, AZ
----- Original Message -----
From: <cash@xxxxxxxxxxx>
To: "Bob Fulks" <bfulks@xxxxxxxxxxxx>
Cc: <omega-list@xxxxxxxxxx>
Sent: Saturday, September 01, 2001 4:45 PM
Subject: Re: NeoTicker (was Re: EL to VB translator)
: Just a few musings...
:
: > Data-on-demand would be ideal if it really worked. No one likes
: > having to maintain their own data but there is now no choice if you
: > want lots of accurate historical data for backtesting. An ideal model
: > would let you collect real-time data for trading, store the data on
: > your machine locally, fix bad ticks as they occur, and be able to
: > download years of accurate historical data and store it on your
: > machine for system development. The ability to download intraday data
: > to fill holes is essential. The present combination of
: > DynaStore/DynaLoader plus QFeed is close to this model and works very
: > well.
: >
: I wonder about that data on demand also. If you're truly going to
: grab a lot of data, can they pump enough to you over the internet?
: And if they do, when do the ticks get cleaned up? If they're
: cleaned on the way out, you have a slowdown for every tick you are
: delivered. If they clean up later, when are those sent out? nightly
: maintenance? next day? Will it just be clean on their server or
: when it's clean will they clean what is stored on your hard drive?
:
: In order to do a lot of backtesting that doesn't take centuries, you'll
: need to have the data on your hard drive, so you'll want to set it to
: always be going there. So, now you're saving a lot of data. What
: with Best Buy selling a 100GB HD for $300 and giving you a $200
: gift certificate, the storage space isn't really an issue. Bandwidth
: is the issue and the last thing you want is your quotes being slow
: on the open for the stocks you are trading so that you can get the
: data you want for the stocks that you'll be backtesting after the
: close. And you definitely can't backtest off their server data as that
: is so slow going across the internet compared to directly from your
: hard drive.
:
: > Brokerage services are rapidly becoming a commodity
: > and commission revenue is approaching zero. Before long, we will be
: > placing orders directly with the ECN's. Why anyone would want to
: > start a brokerage business today is beyond me. Ideally, TRAD will
: > work with other firms to provide a direct order entry linkage into
: > their order entry systems as well.
: >
: I agree that it's insane to start a brokerage biz today. But I do
: believe that TRAD could have an advantage IF they cleaned up their
: software. It's a product that I have not seen offered by any other
: brokerage. But, their problems are many. One is obviously the
: software problems that have been enumerated on this list (I don't
: have TSPro). The other is the lack of customer service. If you take
: 48 hours to respond to someone's question (as they do with
: TS2Ki), then your clients aren't going to be trading with much
: frequency. Also, if you through newbies to TS a package without
: adequate support and training and a good batch of initial systems,
: then they're just going to be frustrated with it, not use it, and
: realize they can pay less commission somewhere else.
: Eventually, you are down to your hard core TS users and that's a
: limited market. It's particularly limited if they can use TS2Ki and
: trade with lower commissions elsewhere. Sincere service and
: support is the answer to TRAD's problems and as you say Jim,
: their track record does not reflect this.
:
: Regarding ECN's eliminating brokerages, I can't see that
: happening. Brokers are responsible for "monitoring" their
: customers from a legal standpoint and they have a boatload of
: legal issues to deal with and are very labor intensive operations.
: They will always be needed for that. ECN's don't want to get into
: that arena. What ECN's want to do is have as many orders plow
: through their systems as possible to generate the most $$$
: possible. They don't want to have to deal with the regulatory
: issues brokers deal with. A broker could buy an ECN, but then
: other brokers would shy away from directing their orders to that
: ECN first. The best way for an ECN to get the most biz is to
: remain equally available for as many as possible.
:
: One thing I haven't seen mentioned is the possibility of lawsuits
: against TRAD. By providing clients with sophisticated software
: and including systems that can tell them when to buy and sell, are
: they not "advising" their clients? And if so, how can they be sure
: that the advice that the same software generates for everyone is
: appropriate for each individual trader? One of the basic rules for
: brokers is to "know your customer" and advise him based on this
: knowledge. I doubt that TRAD is incorporating this knowledge into
: each customer's system. At some point when one or more
: customers blow up, TRAD could be facing some serious liability.
: It's already happened with some of the big boys, why would TRAD
: be any different?
:
: >
: > My thoughts.
: >
:
: Now you have mine FWTW.
:
: Good Trading!
:
: Cash
:
:
:
: "Buy Low, Sell High"
: (If this statment is used for financial gain, I am entitled to 10% of all
profits. ;) )
:
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