IB Downtime

[PuffyGums]

Originally posted by jficquette
I have posted before about IB. You are just asking for it by using them to trade futures. They are NOT reliable. Find a broker that is and forget about how cheap it is.

John

A thousand times no. No doubt the brokers still charging $15 a RT for electronic executions would love this such as the broker you work for.

But the truth is this. If your economics are not similar to that of a floor trader's you CANNOT make money in electronic futures because many of your trades will be washes. Agricultural futures are similar in size to the emini and those traders pay $1.10 to $2.50 a side to get cleared (and I mean member traders). I mean if all the brokers were still trying to charge me $15 to $25 a RT like they did a few years back, I'd lease a seat and go on the floor, knowing what I know now.

 

[jficquette]

I do not work for a broker. Point is do not use IB because they are not cheap when you factor in the times you WILL get stuck in a trade.

John

 

[PuffyGums]

Originally posted by o_2_b_sean
tech good point, all my nics are LinkSys!

LinkSys is one of the trouble cards.

http://www.interactivebrokers.com/cgi-bin/discus/show.pl?tpc=153&post=4672#POST4672

The cards that are known to have problems with Sun’s Java are:
Acton (sometimes spelled accton, depending on driver revision) – All Models
US Robotics (oddly enough, no problems with the parent company’s 3-com brand) – All Models
LinkSys – All Models
NetGear – All Models
SMC – Model 1255 (all other versions seem to work fine)

The following is a list of network card (NIC) manufacturers whose cards IB customers have confirmed work with our software:
3-com/Megahertz
D-link
Intel/Xircom
Kingston
Realtek

I use the 3COM card. There are other cards that work as well.

 

[PuffyGums]

Originally posted by jficquette
I do not work for a broker. Point is do not use IB because they are not cheap when you factor in the times you WILL get stuck in a trade.

John

With any electronic broker you will get stuck in a trade if you trade enough. The same thing happened when I was with another very large, expensive web based broker. Except it happened alot more.

 

[PuffyGums]

Originally posted by jficquette
I do not work for a broker. Point is do not use IB because they are not cheap when you factor in the times you WILL get stuck in a trade.

John

The big two or three direct brokers all have similar commission structures on electronic futures. No one who really trades for a living will stand for $10 of $15 per RT. I dont know what you gain for the addition cost except some hand holding. I guarantee you that the expensive brokerage WILL have down times as well, except you pay $15 for the privilege.

 

[jficquette]

Puffy, do you work for IB?

John

 

[PuffyGums]

Originally posted by jficquette
Puffy, do you work for IB?

John

No. But I know better than to pay $15 RT. Low costs is THE KEY to profitable futures trading.

Why dont you decloak and tell is the name of this expensive but flawless broker?

 

[Tech Analysis]

All brokers suffer the same crap at different times, and always when you're in the market otherwise you'd never notice.

Might as well pay the lowest freight. My vote is with IB.

 

[jficquette]

Gee Puffy, I wish I knew of a flawless broker. If you find one let me know.

Thanks

John

 

[o_2_b_sean]

I think part of the reason people percieve IB as unstable/risky is that they have connections to so many exchanges that they are almost quaranteed to have some sort of connectivity issue each day. That doesn't mean, however, that those issues will after your trade. For me at least, I find most downtime short and painless.