IB insufficient for more serious option trading
- Thread starter TITANIMUM
- Start date
Quote from TITANIMUM:
The OCA function has been put in by several traders, and we voted on it. It is not always the case that just because many vote for it it gets incorporated with an upgrade. IB has the ultimate say and incorporate it as they see fit. And of course the amount of $$$ generated by IB clients that use option trader is miniscule compared to stock traders, where the vast majority of $$$ comes from so they focus on them and leave option traders. OCA function is undeniably critical feature that should be there for more experienced option traders that use combo orders, even for those tho can watch the market almost every minute, as we are only human, need lunch, toilets, and in this time things do happen esp in this volatile environment.
I'd say that several traders isn't exactly a lot of requests. And I doubt that the OCA function is critical to most option traders. And if what you say is true that the majority of IB's profits are generated by stock traders, what do you expect, a call from their head software developer asking for your option improvement suggestions? Obviously, every proprietor has the right to improve its product as it sees fit. The user has the choice to use it or shuffle along.
"Not true. I have numerous option chains open in the Option Trader. "
what I meant was option chains open simultaneously. Yes you can have all the tabs open, but can only view one option chain at a time. having more than one option chain open is invaluable to those considering premium for the strikes in different underlyings real time.
Do you really think that there are a lot of option traders who want to view option chains on two different underlyings simultaneously? I'm just guessing but I think not. Do you really think that will ever be a priority upgrade?? Ditto, I think not.
If you wanted to do this, you could have their Simulator open at the same time. Or with a bit of work, set up a DDE connected Excel spreadsheet and have it all on one screen.
"That was my problem when I had a low RAM computer. Several years ago I bumped it up with a new one and log in takes less than 30 seconds now. I assume you're not on dial up because that's another foot race in molasses."
True, but my computer has plenty of RAM, and internet connection is above average. look at your task bar and you will see how much RAM is used when the software is open, then compare that to another brokers. TOS for eg. When TOS has multiple option chains open simultaneously ( not just the tabs as in IB ), have CNBC live on, have multiple useable charts open (IBs charts are a farce) it still uses about 50% less RAM and computer resources than IB with nothing open.
Your initial complaint was that it takes you ~+10 minutes to open after log in details entered. I told you that it takes me less than 30 seconds and I surely don't have a super computer. Dya think that there's a problem on your end somewhere??
And now your rebuttal is how much more RAM IB uses than TOS? Do you really think that anyone cares if IB uses more RAM than TOS? If you prefer IB's features and they require more RAM, get more RAM. If you prefer TOS or other that uses less RAM, dust off the old 286
"Commissions are less than $1 per leg. If you cancel orders a lot, you would probably be better off paying a higher flat rate where they eat the cancel fee"
spindr0, just check with a calculator, eg if you do one vertical spread (2 legs) on a stock underlying you maybe charged $2.20,
that would be $1.10 a leg. though usually it is just < $1 a leg, If you trade index options you will always be charged => $1 per leg
Have no input on index options. Don't do them. I've done some spreads and individual options this week and I was perplexed as to why the commission per leg was less than the standard 70 cts for contracts whose premium is greater than 10 cts. Obviously not going to call them up and ask why they're under charging me
No broker has everything. Yes, some of IB's features are lacking. They have most of what I need, which isn't much. Doesn't sound like they have what you need. Last thing to say is that it sounds like you have an axe to grind with IB.
âI'd say that several traders isn't exactly a lot of requests. And I doubt that the OCA function is critical to most option traders. And if what you say is true that the majority of IB's profits are generated by stock traders, what do you expect, a call from their head software developer asking for your option improvement suggestions? Obviously, every proprietor has the right to improve its product as it sees fit. The user has the choice to use it or shuffle along.â
spindr0 just out of interest, how do u trade options, eg do u do credit / debit spreads (combos) or single legs? Because I cant see how a money management feature like OCA wouldn't be useful, unless you can be in front of your computer every second.
Perhaps u could contribute by voting, just go to http://www.interactivebrokers.com/en/general/poll/index.php , login, click on TWS option trader on LHS and search for 'OCA' if not already registered, login to your account management, under user mgmt - voting suscription
âDo you really think that there are a lot of option traders who want to view option chains on two different underlyings simultaneously? I'm just guessing but I think not. Do you really think that will ever be a priority upgrade?? Ditto, I think not.
If you wanted to do this, you could have their Simulator open at the same time. Or with a bit of work, set up a DDE connected Excel spreadsheet and have it all on one screen.â
having two or more option chains open simultaneously is definitely important for those looking at diversifying by opening option positions in more than one underlying. You could have the simulator or demo account open as well, but that's a very inefficient compromise , not only on computer resources but on trading efficiency. Would have to go back to your real funded account, select the tab, and enter order, at the very least. â
Your initial complaint was that it takes you ~+10 minutes to open after log in details entered. I told you that it takes me less than 30 seconds and I surely don't have a super computer. Dya think that there's a problem on your end somewhere??
And now your rebuttal is how much more RAM IB uses than TOS? Do you really think that anyone cares if IB uses more RAM than TOS? If you prefer IB's features and they require more RAM, get more RAM. If you prefer TOS or other that uses less RAM, dust off the old 286â
currently takes about 3mins for IB to open. which is still too long
Spinr0 how you perceive comments in such a disparaging manner. I simply made the comment that IB's software with no bells and whistles, uses ~dbl amount of RAM compared to TOS with multiple features open, eg CNBC live, multiple USABLE charts (IB's are bettered by humble bigcharts ), multiple option chains open, voluminous features useful to option traders there to be employed, not just option gamblers who need not much other than perhaps a single option chain with no need to manage their option trade other than to give away commissions deceiving themselves it is good value, because they are usually fractionally cheaper than other brokers.
âHave no input on index options. Don't do them. I've done some spreads and individual options this week and I was perplexed as to why the commission per leg was less than the standard 70 cts for contracts whose premium is greater than 10 cts. Obviously not going to call them up and ask why they're under charging me
No broker has everything. Yes, some of IB's features are lacking. They have most of what I need, which isn't much. Doesn't sound like they have what you need. Last thing to say is that it sounds like you have an axe to grind with IB.â
commission can be below 70cents, but usually in the 0.7225 to 1.75 range per leg. This is for stock options.
I definitely don't have an axe to grind with IB, they are one of my main brokers, along with TOS. I want to take full responsibility for my PnL, but it is made much more difficult with IBs lack of OCA for combos; I have to leave it to chance many of the times when I can't be infront of my TWS. I want IB to advance, to be the no1 broker, which they can be.
Maybe u don't need much, but option traders or any traders can only benefit from basic money management features. OCA for combos is essential for those who want to money manage their option combo trades rather than just leaving it to the âgodsâ to manage it for them.
spindr0 just out of interest, how do u trade options, eg do u do credit / debit spreads (combos) or single legs? Because I cant see how a money management feature like OCA wouldn't be useful, unless you can be in front of your computer every second.
Perhaps u could contribute by voting, just go to http://www.interactivebrokers.com/en/general/poll/index.php , login, click on TWS option trader on LHS and search for 'OCA' if not already registered, login to your account management, under user mgmt - voting suscription
âDo you really think that there are a lot of option traders who want to view option chains on two different underlyings simultaneously? I'm just guessing but I think not. Do you really think that will ever be a priority upgrade?? Ditto, I think not.
If you wanted to do this, you could have their Simulator open at the same time. Or with a bit of work, set up a DDE connected Excel spreadsheet and have it all on one screen.â
having two or more option chains open simultaneously is definitely important for those looking at diversifying by opening option positions in more than one underlying. You could have the simulator or demo account open as well, but that's a very inefficient compromise , not only on computer resources but on trading efficiency. Would have to go back to your real funded account, select the tab, and enter order, at the very least. â
Your initial complaint was that it takes you ~+10 minutes to open after log in details entered. I told you that it takes me less than 30 seconds and I surely don't have a super computer. Dya think that there's a problem on your end somewhere??
And now your rebuttal is how much more RAM IB uses than TOS? Do you really think that anyone cares if IB uses more RAM than TOS? If you prefer IB's features and they require more RAM, get more RAM. If you prefer TOS or other that uses less RAM, dust off the old 286â
currently takes about 3mins for IB to open. which is still too long
Spinr0 how you perceive comments in such a disparaging manner. I simply made the comment that IB's software with no bells and whistles, uses ~dbl amount of RAM compared to TOS with multiple features open, eg CNBC live, multiple USABLE charts (IB's are bettered by humble bigcharts ), multiple option chains open, voluminous features useful to option traders there to be employed, not just option gamblers who need not much other than perhaps a single option chain with no need to manage their option trade other than to give away commissions deceiving themselves it is good value, because they are usually fractionally cheaper than other brokers.
âHave no input on index options. Don't do them. I've done some spreads and individual options this week and I was perplexed as to why the commission per leg was less than the standard 70 cts for contracts whose premium is greater than 10 cts. Obviously not going to call them up and ask why they're under charging me
No broker has everything. Yes, some of IB's features are lacking. They have most of what I need, which isn't much. Doesn't sound like they have what you need. Last thing to say is that it sounds like you have an axe to grind with IB.â
commission can be below 70cents, but usually in the 0.7225 to 1.75 range per leg. This is for stock options.
I definitely don't have an axe to grind with IB, they are one of my main brokers, along with TOS. I want to take full responsibility for my PnL, but it is made much more difficult with IBs lack of OCA for combos; I have to leave it to chance many of the times when I can't be infront of my TWS. I want IB to advance, to be the no1 broker, which they can be.
Maybe u don't need much, but option traders or any traders can only benefit from basic money management features. OCA for combos is essential for those who want to money manage their option combo trades rather than just leaving it to the âgodsâ to manage it for them.
just a correction, core java is designed to be backward compatible since the first version - build once run anywhere motto, and works well in that regards.
the issue you see is valid but it's really due to the java swing components used to create the gui not the language itself. It's a shitty implementation to create screens that should died many years ago(ask any developer that had to deal with screen resizing in swing). Unfortunately apps like ib's tws has becoming such a monster over the years, the money and risk involved to rewrite the whole thing is near impossible.
Definitely dont upgrade to jre 1.7 yet..