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Real Traders;
I am a new trader.
I use a BMI data feed and ensign/vista for trading the S&P.
I have been using First American Discount Corp.
I was unhappy with my fills on "market orders",(usually a .30 neg) so I
switched to "OB" or " MIT" orders.
I am not thrilled with my fill on exit so I switched to "OCO" order.
(I seem to loose .30 per trade if I get out at the market)
I cannot see where or how I can be filled at that price, when I watch the
market "hang" on a much more positive price...
They can't seem to pull a resting order off the floor if you call and
cancel...it takes them 3 plus min.
On an "OCO" order, they didn't execute the order correctly, so my sell stop
was still active and hit without me knowing...luckily I was in the
positive. But that is not how I want to make money!
I have been making small profits, but .30-.50 per trade going in at the
market, could really add up per trade!
They are rude, and will tie you up on the phone when you are trying to move
your stop...then its too late...
They have a 3 min rule, that it could take that long to cancel your stop!
That is scary.
Could this be because I am a rookie, and this is all a part of learning the
ropes?
If it is, I might as well just hang myself.
I am planning a trip to the floor, so this will help me understand also.
Sorry to sound like I am whinning, but this just hasn't happened to me,
others have been hammered by the same FADC.
I am looking for a new Broker!!!
We currently pay $18 per trade. I would rather pay more to know that my
order is not being "spread" on the floor. I think that is what is happening.
Is anyone trading the S&P realtime and happy with their Brokers???
Any suggestions for me would be greatly appreciated.
good trading ~
Caroline
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