Thanks Lou, I just downloaded QT yesterday and I"m just getting the feel for it. For the first year or so I plan on most of my orders being executed at market open so for the early stages I just need the lowest commission at the best execution prices. At this point it seems a 50/50 split between MB trader and IB based on these parameters.
I really appreciate everyone's input on this topic. I have learned a great deal and stored several bookmarks for future reference. Thanks again! Pete :-) --- In [email protected], "lou" <[EMAIL PROTECTED]> wrote: > > Pete - > > I don't use basket orders so am not up on all the capabilities but MBT does > use Quote Tracker so that you can use your AMI Broker's charting and > selection abilities (including watch lists) which can be exported to QT and > I do think that you can initialize an order via Quote Tracker. As I said, I > haven't used MBT but this might be something to look in to. > > lou howard > =================================================== > > ----- Original Message ----- > From: "Pete" <[EMAIL PROTECTED]> > To: <[email protected]> > Sent: Monday, September 01, 2008 1:05 PM > Subject: [amibroker] Re: Opinion Poll: Who do you trade with? Why? > > > > Update for Mike on MB Traders: > > I spent some time on their demo software and so far the only import > > function they support for basket orders is to import from your open > > positions. I chatted online with one of their staff and was informed > > that they had recently removed that feature but plan to add it back in > > to some future version. So, I guess they are trying to work out some > > bugs from their first implementation of this feature. But they do > > offer several options for integrating with other charting apps so > > perhaps one of them enables uploading of basket orders??? > > For now my volume of orders is not going to benefit from this feature > > so it's not a deal breaker for me. > > > > Pete :-) > > > > --- In [email protected], "Pete" <dryheat3@> wrote: > >> > >> 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" <sfclimbers@> 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 :-) > >> > > > > > >> > > > > >> > > > >> > > >> > > > > > > > > ------------------------------------ > > > > Please note that this group is for discussion between users only. > > > > To get support from AmiBroker please send an e-mail directly to > > SUPPORT {at} amibroker.com > > > > For NEW RELEASE ANNOUNCEMENTS and other news always check DEVLOG: > > http://www.amibroker.com/devlog/ > > > > For other support material please check also: > > http://www.amibroker.com/support.html > > Yahoo! Groups Links > > > > > > >
