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I've used the TimberHill software and execution system for a couple of
months now for e-mini trades only and have found the fills to be much faster
than LeoWeb with less slippage - fills are received within a second or two
of hitting <Transmit>. On the negative side, the software and customer
service attitudes leave a great deal to be desired. As you probably know,
PMBe uses a proprietary front-end on the TimberHill execution system. I
still have the LeoWeb account and still routinely receive notices of
something not working. The TimberHill execution system has been down two or
three times for a few minutes each time and I assume you've seen the same
via PMBe. No question in my mind that the TimberHill execution system if far
more robust and better designed than LeoWeb/TOPS/CUBS et al. I've been
waffling back and forth between leasing the TimberHill software so I can
trade everything or going with PMBe and using their front-end. While
checking the PMBe demo, I noted that it is necessary to keep refreshing the
browser to get fills - do you find that irritating?
Earl
-----Original Message-----
From: Simon Townshend <UKTrading@xxxxxxxxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Date: Wednesday, December 30, 1998 2:50 AM
Subject: Re: PMB
>Hi Richard,
>
>Yes, I am still very pleased indeed. So far I have not experienced any of
>the problems that made LEO so unusable towards the end.
>
>One thing I have noticed after quite some trades is that I have never had
>any positive slippage. With LEO I found that sometimes I got better fills
>on my stop prices. That has never happened with PMB. My guess is that
they
>fill orders so quickly that there is no chance for the market to tick back,
>whereas with LEO I would bet we used to get the benefit sometimes of
brokers
>dragging their feet a bit!
>
>Now I am not saying that is bad as it proves to me that they are delivering
>the service that they claim to. I would prefer not to be playing the
>gambling game by having slow brokers because when it goes the other way
>quickly...........!
>
>I have had negative slippage occasionally but this is limitted most of the
>time to 20 points or so. Most frequently I get my price and the worst I
>have had (only once) was 70 points I think (in a fast market). As a
general
>rule I was mentally allowing $100 round turn for slippage and commission.
I
>have not done the exercise but I estimate $50 to be closer to the truth.
>This is very important to me as the days that I am trading I take lots of
>trades and so at the end of the day the profit per trade will be
>significantly diluted if the execution cost is too high.
>
>Hope that helps.
>
>Have a great 1999.
>
>Simon
>
>
>-----Original Message-----
>From: Richard Karst <rkarst@xxxxxxxxxxxxxxx>
>To: UKTrading@xxxxxxxxxxxxx <UKTrading@xxxxxxxxxxxxx>
>Date: 23 December 1998 16:24
>Subject: Re: PMB
>
>
>>Simon
>>
>>I noticed your post about a month ago ..... one quick question about PMB
>....
>>are you still satisfied with the service executions etc ?
>>
>>Seasons best !
>>
>>Richard Karst
>>
>>
>>Simon Townshend wrote:
>>
>>> I have been using PMB for a few weeks now. It is excellent. Most of
the
>>> time my orders are filled right at my price (all stops) and the response
>>> time is unbelievable. It really feels like you have your own man in the
>pit
>>> at the end of a private line!
>>>
>>> With the same account I can even trade the London FTSE. Now to most of
>you
>>> guys over in the US that is probably of little interest, but if you are
>>> based in Europe you can really make your money work - FTSE in morning,
SP
>in
>>> afternoon.
>>>
>>> The fact that you can trade the FTSE at all is a miracle in my book. I
>have
>>> not tried to for years now as it is just too thin. The crazy SP over
>recent
>>> months made me consider it again at least until the Spoos have been
>behaving
>>> properly again for a while. Yet my PMB fills are virtually all at my
>price
>>> even in this market. Just amazing!
>>>
>>> If you are serious about day trading and / or are suffering with CUBS
>>> syndrome, I would give Red a call.
>>>
>>> Simon
>>>
>>> -----Original Message-----
>>> From: Terry S. Smith <tesla@xxxxxxx>
>>> To: AMPWood@xxxxxxx <AMPWood@xxxxxxx>; RealTraders Discussion Group
>>> <realtraders@xxxxxxxxxxxxxx>
>>> Date: 15 November 1998 16:44
>>> Subject: Re: PMB
>>>
>>> >The low price leader in the PMB brokers is Nader "Red" Adeeb. I think
>his
>>> >commissions are 15.70. Call him at 1 800 621 5987.
>>> >-----Original Message-----
>>> >From: AMPWood@xxxxxxx <AMPWood@xxxxxxx>
>>> >To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
>>> >Date: Sunday, November 15, 1998 8:00 AM
>>> >Subject: PMB
>>> >
>>> >
>>> >>Hi.
>>> >>
>>> >>Does anyone know the lowest commisions which are available from PMB on
>a
>>> >>smaller sized S&P day trading acct. Also do you have the phone number
>for
>>> >the
>>> >>discount department.
>>> >>
>>> >>
>>> >> Thanks,
>>> >> Dennis
>>> >>
>>> >
>>> >
>>
>>
>>
>
>
>
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