Emini trading!

[def]

larry,
If I have time tonight I'll do a test order from home on a 56K dialup and look at the audit trail tomorrow to see the exact turn around time. I currently don't have specific details on time of such an order (from an ISP on a dialup with a 56K from Hong Kong). However, from previous experience I can say my orders have gone green in what seem much less than half a second. With the depth and liquidity of the e-minis, I'd be surprised if you have any troubles getting filled.

 

[nljones5]

I don't get the part about having a backup broker to get out of a trade. How can having another broker get you out of an order you placed with IB?

 

[Huios]

Jones, it's not about getting out of an IB or anyone elses trade, it is about offsetting your order. If your primary software goes down, and you have 5 short esm2 contracts on with a rising market, you use your secondary broker to place 5 long contracts to off set your losses, instead of hoping your software comes back online before you have to hock the car to meet the margin call.

 

[larrybf]

DEF: THANKS FOR TRYING TO DO THAT .I would definitely appreciate it. Larry

 

[ddefina]

Originally posted by larrybf
Def: I always appreciate your input. At home I always use my cable access for trading.However trading has given me the opportunity to travel away from home. However I am hesitant to trade with only 56K access. Is system execution speed seriosly hampered by using dial up or is it negligible since I am transmitting such small amounts of data when I hit the hot keys to transmit an order??

I am forced to trade on a 56K and have instaneous fills on the emini's using IB, with a charting program running 5 or so charts at the same time. It appears to fill before my finger is off the key. I personally believe the # of router hops to destination is more significant than just bandwidth.

 

[larrybf]

DDEFINA: THANK YOU VERY MUCH. Exactly the reassuring answer I was looking for. thanks again.

 

[easyrider]

The reason I am using IB is that it is the only execution platform I have run across that works ok on a 56k. Other brokers would be smart to offer an execution only platform in addition to their bandwidth hogs.

 

[metooxx]

Originally posted by nljones5
I don't get the part about having a backup broker to get out of a trade. How can having another broker get you out of an order you placed with IB?

It cannot; you can offset your risk if you know your position by doing the trade with another broker; however you will need to close both positions when your primary broker comes back up.

 

[lundy]

reasons why i've stayed with IB is because they:

Communicate actively with their users via this forum and chat on irc.

Upgrade their platform regularly to incorporate customers needs.

Are very upfront about their business practices. There is a webpage on their website for almost every question I have ever asked.

Provide the most competitive rates I know of for retail customers... and are always looking to be more competitive.

Provide online access to everything account related, including online account signup.

Have the best trading platform imo.

 

[chasinfla]

if i trade emini intrady through one of the aforementioned brokers, who takes the other side of my trade -- I don't mean who, personally, but which exchange?

The reason I ask is that forex firms are popping up and I think they are the counterparties, and that their quotes are not necessarily in agreement with prevailing forex quotes.

I know that emini is not forex. But I wondered if this ancient approach to retail brokerage (I think it's called a "bucketshop") was going on in the emini.