your trading platform is like the tires on your car-----they are a must for proper SAFE operation. to go fast you better have a great set of tires! 
Ib Tws Down
- Thread starter laocoon
- Start date
Hi MacroEvent,
Why linux? Not a dumb question. It's a smart question!
For me there's no better. I came from UNIX over to M$ during 1995 partially because of work imposed requirements and at home because of 1995 hardware cost. Nobody knows the trouble I've seen.
Recently, I struggled for about a year regaining my freedom in migrating 100% to linux. I'm not the only one. Many banking/financial IT departments do just the same like me. It's simply smart to keep your powder dry. In fact I take utmost care to keep ALL my software 100% portable now. I'm no longer a dumb cash cow attached to its OS-owner's post. Over the years, it cost me dearly, not only moneywise but even more so technically.
Technically, many good reasons exist. Performance, reliability, service & information.
Thank you for checking with your contact(s).
Be good,
nononsense
FredBloggs
Guest
geez -
no sooner than ib getr their shit together, then the hottest ipo this year comes out and i see loads of ib users cant bid bidu on their tws!!!!!
wtf???
no sooner than ib getr their shit together, then the hottest ipo this year comes out and i see loads of ib users cant bid bidu on their tws!!!!!
wtf???
nononsense---------so using M$ is like taking a "red pill" that big brother hands out every morning, "here take this, you need this, it will make you feel better----------we promise"
using linux is like the rebellious factions that take their own "blue pill" that is actually good for them---------it gives nimbleness, energy, and performance to the people in their fight against the controllers of the mindless masses.
kind of like that? maybe i need linux now------i am not a follower!
Fred---------that is really bad!
using linux is like the rebellious factions that take their own "blue pill" that is actually good for them---------it gives nimbleness, energy, and performance to the people in their fight against the controllers of the mindless masses.
kind of like that? maybe i need linux now------i am not a follower!
Fred---------that is really bad!
FredBloggs
Guest
i did - few posts from more than one person who said ib wouldnt let them buy. there were a few bidu threads remember.
i remember one guy saying he could buy in his ameritrade account but not the ib account.
this does surprise me as ameritrade really are the worlds end
FredBloggs
Guest
http://www.elitetrader.com/vb/showthread.php?s=&threadid=53416&perpage=6&pagenumber=5
heres just one while its in memory....
heres just one while its in memory....
I read with great interest all my fellow traders comments RE: IB.
MY REQUEST: ANY SUGGESTIONS FOR ALTERNATIVE On-line Brokers that allow just about any type trade?? NOTE: I do a lot of naked option - complex option strategy - and hedging transactions.
MY COMMENTS: (some background info 1st -- I've been an investor/trader for about 40 years & I know the workings of the market-makers from spending time on a trading floor. I trade/invest thru a # of firms - I know I should consolidate them.
My 2 primary on-line brokers are IB (opened 1st & MB Trading).
The difference is astounding !! While MB Trading doesn't allow most of the options strategies I use - just buy then sell Call/Put or covered call - they are hands down more customer oriented & helpful. that said you can find my IB experiences/comments below.)
#1 While no one should judge any firm solely by the experiences noted in these posts, I've used IB for a few years with a number of horror stories about them I could tell & continue only because they allow all the trading strategies I use (& feel I need).
#2 MY #1 complaint is their arrogance & LACK OF INTEGRITY. I say this because mistakes can be made but I have NEVER gotten any satisfaction from IB even after they agreed to do so (my recent experience says they will no longer even admit an obvious error). Here are 2 examples - A) The Friday before President's day in Feb. 2003 I was closing out both sides of a spread option position on 5 calls when I noticed I was now short the lower strike (previously long side). I called, & after the usual long phone delay, I spoke to a trade desk person who researched it & felt they (IB) had erred in execution. I called again on Tuesday (Monday was the holiday) & was told I had entered 10 rather than 5 options to be sold so I caused the problem despite the fact that they could not explain why my order was executed as 5 options on 2 different exchanges even tho both exchanges had the same BID/ASK with sufficient BID Volume to executed an order of 10 options. The next day I was told to e-mail my complaint which I did on that day only to be told I had waited to long ! B) I'm selling options (limit order) when I notice that the BID rises to above my limit price so I quick enter a 2nd (market) order ( I rarely use market orders by the way). I'm executed on my market order at my limit price which is now below the market while my limit order sits unfilled. I call & get agreement that it was a pricing error (they claimed the exchange agreed to give the $$ back). The $$ never showed up in my account !
#2 As of year-end (2004) IB Monthly Statement for Options on stocks which stop trading due to takeover (the option is still valid but is assigned a new trading symbol) DO NOT show any symbol (just a strike & expiration. Note: UNCLE SAM isn't happy about this one.
#3 NEVER let your SMA go negative unless you're prepared to cover it pre-3:50pm - IB automatically executes trades @ 3:50pm to offset this even tho SEC regs T says you have 3 days to make good with cash. NOTE: IB won't help you figure this out before or after it occurs (anyone have a program to do this?). Also, if you send IB $$ (wired or check) they hold it at least 1 day before you can use it.
#4 TWS is (my opinion) a lousy trading platform. A) there is auto fill on price & quantity @ market which you must change with no protection on input error. Also, IB will charge you for any cancelled option order. I've even cancelled an extra order line & had it cancel my order line to wit I had to re-enter the order & pay them for the cancel. Also, I have a lot of protection against technical problems but if TWS is down (IB problem) how in the heck do you use your IB account ($$ or positions) to trade?
FINALLY, I would be most interested in starting &/or joining a IB USER's GROUP (maybe together we can get their attention on issues).
MY REQUEST: ANY SUGGESTIONS FOR ALTERNATIVE On-line Brokers that allow just about any type trade?? NOTE: I do a lot of naked option - complex option strategy - and hedging transactions.
MY COMMENTS: (some background info 1st -- I've been an investor/trader for about 40 years & I know the workings of the market-makers from spending time on a trading floor. I trade/invest thru a # of firms - I know I should consolidate them.
My 2 primary on-line brokers are IB (opened 1st & MB Trading).
The difference is astounding !! While MB Trading doesn't allow most of the options strategies I use - just buy then sell Call/Put or covered call - they are hands down more customer oriented & helpful. that said you can find my IB experiences/comments below.)
#1 While no one should judge any firm solely by the experiences noted in these posts, I've used IB for a few years with a number of horror stories about them I could tell & continue only because they allow all the trading strategies I use (& feel I need).
#2 MY #1 complaint is their arrogance & LACK OF INTEGRITY. I say this because mistakes can be made but I have NEVER gotten any satisfaction from IB even after they agreed to do so (my recent experience says they will no longer even admit an obvious error). Here are 2 examples - A) The Friday before President's day in Feb. 2003 I was closing out both sides of a spread option position on 5 calls when I noticed I was now short the lower strike (previously long side). I called, & after the usual long phone delay, I spoke to a trade desk person who researched it & felt they (IB) had erred in execution. I called again on Tuesday (Monday was the holiday) & was told I had entered 10 rather than 5 options to be sold so I caused the problem despite the fact that they could not explain why my order was executed as 5 options on 2 different exchanges even tho both exchanges had the same BID/ASK with sufficient BID Volume to executed an order of 10 options. The next day I was told to e-mail my complaint which I did on that day only to be told I had waited to long ! B) I'm selling options (limit order) when I notice that the BID rises to above my limit price so I quick enter a 2nd (market) order ( I rarely use market orders by the way). I'm executed on my market order at my limit price which is now below the market while my limit order sits unfilled. I call & get agreement that it was a pricing error (they claimed the exchange agreed to give the $$ back). The $$ never showed up in my account !
#2 As of year-end (2004) IB Monthly Statement for Options on stocks which stop trading due to takeover (the option is still valid but is assigned a new trading symbol) DO NOT show any symbol (just a strike & expiration. Note: UNCLE SAM isn't happy about this one.
#3 NEVER let your SMA go negative unless you're prepared to cover it pre-3:50pm - IB automatically executes trades @ 3:50pm to offset this even tho SEC regs T says you have 3 days to make good with cash. NOTE: IB won't help you figure this out before or after it occurs (anyone have a program to do this?). Also, if you send IB $$ (wired or check) they hold it at least 1 day before you can use it.
#4 TWS is (my opinion) a lousy trading platform. A) there is auto fill on price & quantity @ market which you must change with no protection on input error. Also, IB will charge you for any cancelled option order. I've even cancelled an extra order line & had it cancel my order line to wit I had to re-enter the order & pay them for the cancel. Also, I have a lot of protection against technical problems but if TWS is down (IB problem) how in the heck do you use your IB account ($$ or positions) to trade?
FINALLY, I would be most interested in starting &/or joining a IB USER's GROUP (maybe together we can get their attention on issues).
Hi MacroEvent,
That colored pill thing may be nice to entertain attached cash cows with. It's not my way of thinking.
If you like little computer stories, perhaps IBM's old man Watson's saying may be a bit better:
"Machines should work, People THINK".
Attached cash cows don't bother with thinking, they get milked.
=======================
Over all IB is still way above average;
WOW, can you fix those occasional frozen/nonexistant quotes.
Thanks IB soft