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So, let me get this straight. If I open up a TSPro account, can I
call and get immediate answers to my EL questions? That alone
may make it worth getting an account.
From: "Jim Bronke" <jvbronke@xxxxxxxx>
To: <cash@xxxxxxxxxxx>, "Bob Fulks" <bfulks@xxxxxxxxxxxx>
Copies to: <omega-list@xxxxxxxxxx>
Subject: Re: NeoTicker (was Re: EL to VB translator)
Date sent: Sat, 1 Sep 2001 14:26:23 -0700
> 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. ;) )
> :
>
"Buy Low, Sell High"
(If this statment is used for financial gain, I am entitled to 10% of all profits. ;) )
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