Very good point about being able to upload basket orders using .csv or other import function. I will make sure I cover that in my analysis. I'll let you know if MB Trading has enhanced their platform to accommodate this. Linked charting is something that Scottrade does extremely well and I am going to need to have this feature in any potential broker before I'm willing to make a move. Thanks again for all your input.
Pete :-) --- In [email protected], "Mike" <[EMAIL PROTECTED]> wrote: > > Pete, > > I did review MB Trading about 1.5 years ago. > > According to my notes, they did not have the full basket order > support that I was looking for. My notes aren't detailed, but I'm > assuming that they did not support importing a list, but rather only > allowed you to create a list through their UI (i.e. time consuming > and error prone typing). > > Also, at the time they did not have a web client accessible from > behind a firewall. I don't know if that has changed or not. > > The other thing I was looking for was to click on each symbol in my > list of positions, and have the chart update to show the new > selection. MB Trading did not support that at the time. I don't know > if they do now. > > Good luck with your search. > > --- In [email protected], "Pete" <dryheat3@> wrote: > > > > Mike, > > Thanks so much for taking the time to provide this very detailed > > description of your personal experience with several brokers. I can > > see the value of being able to upload basket orders and this was > > something I had not considered before. Now it's on my list. I am > > really attracted to the idea of being able to trade from Amibroker > and > > IB so far seems to be the only broker which supports this. > > Someone else recommended MB trading. They don't support orders from > > Amibroker but they do support a trading interface with several data > > providers. Since you are using a separate data provider you might > > check them out. > > http://www.mbtrading.com/default.asp > > So far, thanks to the recommendations and opinions of others, they > are > > at the top of my list. > > > > Pete :-) > > > > --- In [email protected], "Mike" <sfclimbers@> wrote: > > > > > > I've used TradeStation, eTrade, Scottrade and Interactive Brokers. > > > > > > I complete well over a thousand round trip trades a year using > EOD > > > data. I typicaly place anywhere from a dozen to a couple of > hundred > > > limit orders each night, only about 10-20% of which ever get > filled. > > > I plan to continue working full time for at least the next year. > > > > > > As such, the most important features for me are: > > > > > > - Low commissions > > > - Ability to upload basket orders > > > - Web access from behind a firewall (while I'm at work) > > > - Easy reporting, exportable to GainsKeeper or TradeLog for the > > > accountant > > > > > > TradeStation > > > - Honestly, I don't recall if these guys supported my > requirements. I > > > only started with them because they seemed more professional than > > > AmiBroker and I needed a backtesting tool. However, I soon found > out > > > that they had fixed limits with respect to not being able to scan > > > more than 1000 symbols (or somewhere around there), so they were > > > useless to me since I scan 8000+ each night. Their comissions > were OK > > > (penny a share), but if you ever made fewer than some number of > > > trades you got hit with a $100 monthly platform fee. With my > volume > > > that was not an issue, but it irked me anyway. > > > > > > eTrade > > > - Again, I only went with these guys because my employer > > > automatically opened an account for me when I joined the employee > > > stock purchase plan (ESPP). Even with active trader status, they > were > > > too expensive ($9.99 each way), did not support basket orders, > and > > > required special permission and a whole lot of phone calls to > open > > > more than one margin account. Customer support was VERY slow with > > > LONG wait times, but helpfull once you finally got through. > Trying to > > > connect using the web client during fast trading would sometimes > > > fail. > > > > > > Scottrade > > > - These guys had excellent customer support, I was happy with > their > > > desktop platform and the web based access from behind a firewall. > > > Depending on your order size, their comissions are higher than IB > > > (for stock orders of fewer than 1400 shares, they're better than > IB > > > above that point i.e. $7 each way vs. .005/share). They suffer > from > > > the same charting problem as IB in that they do not show the > correct > > > EOD Close and so can screw up an EOD trader ( > > > http://finance.groups.yahoo.com/group/amibroker/message/116777 ). > I > > > use a separate data provider because of this. However, the > biggest > > > problem for me was that they did not have support for uploading a > > > basket order. Trying to type in dozens or hundreds of orders each > > > night is just too time consuming and error prone. My request for > this > > > feature went unfulfilled. Had they offered basket trading, I > probably > > > would have stayed with them. > > > > > > Interactive Brokers > > > - It's a mixed bag with these guys. They have been awful. They > update > > > their software constantly and introduce new bugs every time as a > > > result. Complaints go unaddressed for weeks and months if ever > > > addressed at all. Support tickets get closed after a period of > > > inactivity, even when the ball is in their court! You have to > keep > > > pinging your ticket just to keep it alive. However, feature-wise > they > > > are one of the best games in town. They offer everything I need. > An > > > AmiBroker exploration can be written to output the format of an > IB > > > basket order such that 1 click import and you're done. > Alternatively, > > > the IB plugin from AmiBroker can be used to place the trades > > > directly. Their web portal is satisfactory. They support > GainsKeeper > > > and TradeLog, including Mark To Market accounting. Despite the > above > > > negatives, they recently did a complete overhaul of their > software > > > that fixed all my outstanding issues (over a year later for > some). > > > So, for the moment, they are the perfect setup for me. But, once > > > burned, twice shy. If they can stay stable for a period of time, > I'll > > > feel better about recommending them. > > > > > > Mike > > > > > > --- In [email protected], "Pete" <dryheat3@> wrote: > > > > > > > > I've been with Scottrade for several years and now that I've > become > > > > more educated about the different types of markets out there to > > > trade > > > > in I have realized Scottrade does not offer much. Just low > > > commissions > > > > and a nice, user friendly trading platform. > > > > > > > > It would also be great if you were willing to share the name of > the > > > > brokerage but I understand privacy is top priority. But that's > the > > > > whole point here. I'm trying to save time searching for the one > with > > > > the features I want. I'm hoping you all can provide some helpful > > > > advise by describing what features you find most important and > why. > > > > > > > > Here are some thoughts I've been tossing around as features I > would > > > > like to see in a single brokerage: > > > > 1. Reasonable commission structure > > > > 2. Trading available on Forex, Commodities, Equities, and > Options > > > > 3. Ability to trade on Asian and European markets > > > > 4. RT Data feed which can be easily linked to Amibroker > > > > 5. Reasonably priced RT streaming quotes and charts available > for > > > > smart phone/Pocket PC's. > > > > > > > > Thanks for taking the time. Looking forward your responses. > > > > > > > > Pete :-) > > > > > > > > > >
