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i second that, after being front-run countless times by 0.1 cent improvements on ISLD, and having occasionally scared the sh*t out of the other side with my order size. - jaan

it's the expiration day minus 8 calendar days -- except when it happens to be a holiday etc. - jaan

well, i have accounts with both, and have dealt with both customer services several times. my experience is that they both suck bigtime -- everthing you've heard about IB customer service also pretty much applies to datek's service. - jaan

actually, the most characteristic trait of a chaotic system is not the great amount of variables/parameters (some chaotic systems are very simple), but the fact that very close initial conditions may produce vastly different outcomes. eg the classical "butterfly can cause a hurricane" example...

a minor point: i think that, by most standards, between 1% and 5% is far from being astonishingly precise, because these numbers define a range. the precision of a range is measured in its (relative) length, not by the precision of its endpoints. put it this way, if i said an event has a...

good to see you back in these quarters, darkhorse! let me just propose one more rule for you (that i've learned the hard way myself using boards like ET): * if you want to keep your time investment under control, only post once a day. - jaan

about a year ago a colleague of mine had a look at the traffic, and it was definitely not encrypted. could be that they have changed it since, but i doubt it. - jaan

i just went ahead & tried to enter a 3 decimal place order with datek. no go: "Sorry, 50.111 is not a tradable price for MSFT . Orders must be placed in minimum decimal increments of one cent(s) (0.01). " - jaan

good luck with that. last week i too had to explain to a IB rep what a base currency is -- it took 5 messages back and forth before i succeeded. unless def will help you out, i don't think you'll get a relevant answer from IB. - jaan

alanm, yes, i basically agree with you, except with this: ...because encryption, if implemented properly, will render packet sniffing useless, too. put it another way: i think it would be more secure to email a link to the (https-protected) report on their site, than to download the...

fyi: that would not be a lot more secure than the email statments, because - to the best of my knowledge - the TWS communications are not encrypted. - jaan

are you also amazed every time someone claims the earth is round? :) but seriously, i don't think the size of the system has anything to do with it being zero-sum game or not. myself, too, i think that stockmarket is close enough to a zero-sum game (from monetary aspect), especially in...

heh, DT-waw, do you have some "inside information", or are you just learning from others' mistakes (http://satirewire.com/news/0111/threats.shtml)? - jaan

hehe, i'm not complaining :) however, i don't think they are the best markets for random entry (that's what marketsurfer was talking about), are they. - jaan

yes, but only on a trending market. on a sideways market there won't be enough winners to cover the trades that stop out. - jaan

that's very interesting, care to give some examples of such systems? myself i've been developing (equity) systems for about 3 years, yet i cannot see much advantage in subsecond executions. in my systems, having instant quotes & executions would definitely improve the P/L, but the difference...

to me it seems that the P/L is calculated based on the last trade price except when the last price is outside the best bid/offer, in which case it is calculated based on the bid or offer (depending which one is closer to last price). the position value in the account window is indeed...

IMHO, if a system requires sub-second executions in order to be profitable, it is not robust enough to trade. - jaan

your question prompted me to look at our (net) cents per share distribution for the last 6 months, and the results were pretty "unimaginative": a close-to-normal distribution (the peak was sharper though) with positive mean value and right tail considerably fatter. - jaan

hmm... in my experience it's the other way around: ISLD cannot lock the market, but nothing prevents MM-s locking against an ECN. so if an MM steps down the offer, ISLD will actually back away to avoid the lock. i've seen this happen several times. - jaan