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Re: who is the best broker for fast daytrade S&P 500 futures trades


  • To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
  • Subject: Re: who is the best broker for fast daytrade S&P 500 futures trades
  • From: "Earl Adamy" <eadamy@xxxxxxxxxx>
  • Date: Sat, 24 Oct 1998 09:23:45 -0400 (EDT)

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<DIV><FONT size=2>At least Waldock has the integrity to state that CUBS does not 
work! LeoWeb keeps using it whether it works or not - S&amp;P volume has been 
light so CUBS has been up more than down the past couple of weeks. CUBS2 is due 
for rollout in November.</FONT></DIV>
<DIV><FONT size=2></FONT>&nbsp;</DIV>
<DIV><FONT size=2>I looked a bit into FTG, and from what I could tell, they 
claim to use a hodge-podge of several systems (including TOPS/CUBS) which they 
claim gives them redundancy. FTG's web pages are long on claims and short on 
specifics so it's hard to get a real fix on FTG. Since the FTG Managing Director 
was recently posting to the RT list under guise of a third party, I wouldn't be 
inclined to put much stock in any claims. The only system I've been able to 
identify which uses end-to-end proprietary electronic technology and 
communications, is the TimberHill system which is licensed to participating 
retail brokers. PMBe uses their own network and computer to front end the TH 
system. Others such as Refco and EDF Mann license the TH Interactive Broker 
Workstation (IBW) to clients at $900 per month + commissions. TH has a limited 
retail operation called Interactive Brokers LLC which handles E-Mini trades only 
using IBW at under $10 round turn with $20 minimum and no phone desk for 
backup.</FONT></DIV>
<DIV><FONT size=2></FONT>&nbsp;</DIV>
<DIV><FONT size=2>I do hope you'll tell fill us in when you've completed a 
representative set of trades through FTG.</FONT></DIV>
<DIV><FONT size=2></FONT>&nbsp;</DIV>
<DIV><FONT size=2>Earl</FONT></DIV>
<BLOCKQUOTE 
style="BORDER-LEFT: #000000 solid 2px; MARGIN-LEFT: 5px; PADDING-LEFT: 5px">
    <DIV><FONT face=Arial size=2><B>-----Original Message-----</B><BR><B>From: 
    </B>William F. Nakielski &lt;<A 
    href="mailto:frt1000@xxxxxxxxxx";>frt1000@xxxxxxxxxx</A>&gt;<BR><B>To: 
    </B>RealTraders Discussion Group &lt;<A 
    href="mailto:realtraders@xxxxxxxxxxxxxx";>realtraders@xxxxxxxxxxxxxx</A>&gt;<BR><B>Date: 
    </B>Saturday, October 24, 1998 5:29 AM<BR><B>Subject: </B>Re: who is the 
    best broker for fast daytrade S&amp;P 500 futures 
trades<BR><BR></DIV></FONT>
    <DIV><FONT color=#000000 size=2>Jay,</FONT></DIV>
    <DIV><FONT color=#000000 size=2></FONT>&nbsp;</DIV>
    <DIV><FONT size=2>Well, it certainly isn't Waldock.&nbsp; When I was using 
    there system for the spoo it took about 3-4 minutes to get filled from the 
    time I'd hit the Enter button.&nbsp; Today I noticed a message on thier 
    screen saying that &quot;when the CME can demonstrate the reliability again 
    of CUBS they'll again start using the system&quot;.&nbsp; So if you're 
    looking for speedy executions in your S&amp;P trades, best look 
    elsewhere.</FONT></DIV>
    <DIV><FONT size=2></FONT>&nbsp;</DIV>
    <DIV><FONT size=2>I'm in the process of opening an account with FTG (Futures 
    Technology Group) out of LA.&nbsp; They use a combination of very high - 
    tech systems to ensure traders of fast fills with confirmation of fills 
    reaching your computer in as little as 15 seconds under normal market 
    conditions and around a minute in fast market conditions.</FONT></DIV>
    <DIV><FONT size=2></FONT>&nbsp;</DIV>
    <DIV><FONT size=2>There was a thread here that lasted over a week on this 
    same topic recently that got me to make the switch.&nbsp; Maybe if anyone 
    else switched over to FTG or PMBe they would let us know.</FONT></DIV>
    <DIV><FONT size=2></FONT>&nbsp;</DIV>
    <DIV><FONT size=2>In my opinion, don't waste your time with any brokerage 
    who depends on the CUBS/TOPS system for fills as most of the time you'll be 
    trading manually.&nbsp; The CUBS system is a piece of crap that crashes at 
    the mere scent of any volume in the air as I'm sure all the folks that trade 
    with LeoWeb can attest. (Includes LFG and Zap).</FONT></DIV>
    <DIV><FONT size=2></FONT>&nbsp;</DIV>
    <DIV><FONT size=2>I personally don't know too much about the PMBe 
    (Professional Market Brokerage) system, but other traders had a lot of good 
    things to say about it.</FONT></DIV>
    <DIV>&nbsp;</DIV>
    <DIV><FONT color=#000000 size=2>The web site for FTG is <A 
    href="http://www.tradeftg.com";>www.tradeftg.com</A></FONT></DIV>
    <DIV><FONT color=#000000 size=2></FONT><FONT size=2>and PMB is <A 
    href="http://www.pmbinc.com";>www.pmbinc.com</A> </FONT></DIV>
    <DIV><FONT size=2></FONT>&nbsp;</DIV>
    <DIV><FONT size=2>Now I would like to go on record and thank all those who 
    contributed to those threads in the last few weeks.&nbsp; I never would have 
    discovered them if it weren't for you.&nbsp; I had completely given up 
    trading spoos as my system demands fast executions otherwise I loose money. 
    I've been stuck with the e-mini and getting eaten alive with 
    commissions.&nbsp; Hopefully I'll be very happy with FTG.</FONT></DIV>
    <DIV><FONT size=2></FONT>&nbsp;</DIV>
    <DIV><FONT size=2>Bill N.</FONT></DIV>
    <DIV><FONT size=2>Milwaukee, WI&nbsp;&nbsp; 
USA</FONT>&nbsp;</DIV></BLOCKQUOTE></BODY></HTML>
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Date: Sat, 24 Oct 1998 07:10:59 -0700
Reply-To: "John Timberlake" <wrtlake@xxxxxxxxxx>
Sender: owner-realtraders@xxxxxxxxxxxxxx
From: "John Timberlake" <wrtlake@xxxxxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Subject: Survey time
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I'm doing a little survey with the data Mr. B  so generously provided.
I'm starting out with a years worth of data and am interested in
finding out the following, in relation to the bonds.

What % of the days have follow through on the next open??
What % of those days are slam dunks i.e. there is a sharp reversal
at the end of the session that goes against the daily trend.There is then
another reversal at the following open which returns price to yesterdays
trend direction,many times with a vengence.(gotta love the floor boys, the
little dickens.)
What % of these continuations and slam dunks are the prelude to todays
trend?? (Prime reversal) made up term on my part.
What % of gaps are filled the same day??
Are there actually 3-4 day Hi/lo/range patterns as sugessted by Taylor,
Rascke and Angell??

That will do for now,but if any body else has done similar surveys and is
willing to share
the results in relation to the bonds,I'd be interested to hear what they
found.

I'd also like to know if Sc4.0 can be used to do these kind of surveys as
scrolling
through the data day by day and notating it in a notebook is a bit tedious
and I
would like to do more than a years worth of data.

Lastly,where can I get some five min historic data to fill the gap of Mr.B's
data
from 1/04/98 to present,for the bonds of course.

Thank you,
and let the games begin!!
                                                  J Timberlake

Reply privately if you wish.