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Mitch, all:
Thanks for the offer of support, but no action is necessary. My purpose in
bringing the issue up in the first place was simply to let others who are in
the process of choosing a data provider know what my experience was. (And,
allright, I admit it, I was venting...)
Here's how the situation resolved. In something of a fit of pique (I was so
angry I couldn't see straight), I just unplugged the receiver, stopped
paying their bills, and waited to see what would happen. I don't
necessarily recommend this course of action, but it's what I did. Well,
after two months their computer AUTOMATICALLY disconnected me, TERMINATED MY
CONTRACT (four months before it would have expired, saving me $900), and
charged me a $200 cancellation fee! I then returned the receiver, had a
talk with a very nice person in their collections department, and arranged a
payment schedule for the balance, which I'm just about done with. Thus
endeth my relationship with BMI.
Idiots. They could have allowed me to switch back to delayed when I asked,
charged me the $200 cancellation fee then (which I would have happily paid),
and they would still have a paying customer. As it is they've lost at least
one customer for life, and hopefully a few more as a result of this thread.
Currently I get all of the information I need for end-of-day trading over
the internet (CSI Unfair Advantage for futures, OptionsAnalysis.com for
options prices, and quote.com ($9.95/month plan) for delayed intraday
charts, plus which I occasionally download the Omega refresh data for
after-the-fact intraday analysis, which is not all that crucial for my
trading. The other result of this is that I've learned there are benefits
to NOT watching the markets during the day. If and when I go back to
intraday trading, which I currently have no plans to do, I will probably go
with FutureSource.
Enough about this, back to trading. Regards,
David Rosenthal
<davidr@xxxxxxxxxx>
> -----Original Message-----
> From: owner-realtraders@xxxxxxxxxxxxxx
> [mailto:owner-realtraders@xxxxxxxxxxxxxx]On Behalf Of Tullman, Mitch
> Sent: Tuesday, June 02, 1998 9:21 AM
> To: RealTraders Discussion Group
> Subject: RE: DTN vs BMI et al
>
>
> I was away and just got this.....this is where I think being a part of a
> large
> trading group (real traders) can be used. I think we as a group should
> e-mail BMI and
> tell them we resent treating our members this way. We should each
> e-mail individually.
> Write a form letter saying let me out or else these 100 traders will go
> out of their way to bad mouth
> your service. Include the address where to foward it and I for one will
> sign it and send it on to BMI
>
> Let's flex some collective muscle!
>
> Mitch
>
> > -----Original Message-----
> > From: David Rosenthal [SMTP:davidr@xxxxxxxxxx]
> > Sent: Monday, June 01, 1998 3:03 AM
> > To: RealTraders Discussion Group
> > Subject: RE: DTN vs BMI et al
> >
> >
> > Last April I got interested in daytrading, bought Tradestation and the
> > BMI
> > delayed data feed for about $70/month. After a month I decided I was
> > ready
> > to trade and moved up to the real time for $225+ plus exchange fees.
> >
> > Four months later I came to my senses and realized that daytrading and
> > my
> > daytime job were not compatible (what was I thinking...). So I
> > blithely,
> > naively, called BMI to switch back to the delayed plan. The answer I
> > received, in only slightly nicer language, was "Screw you, sucker.
> > You
> > signed a contract. You can cancel all your exchanges, but we'll still
> > charge you $225 a month for the delayed data for another 8 months.
> > And
> > there's nothing you can do about it."
> >
> > Legally, they may be correct. However, needless to say, BMI has lost
> > a
> > customer for life, even if they have the cleanest data available.
> > When and
> > if I need real-time data again I'll use either FutureSource or DTN.
>
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