I believe that "greek" is not who he claims to be. Notice that he claims to have been trading thru IB for 5 years, yet as of right now, this is the only posting he has ever made on Elite Trader.
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Lightspeed vs. Interactive Brokers/IB
- Thread starter azzzy
- Start date
I believe that "greek" is not who he claims to be. Notice that he claims to have been trading thru IB for 5 years, yet as of right now, this is the only posting he has ever made on Elite Trader.
Quote from Robert Weinstein:
I use IB and another guy in the ET chat uses LS. He likes LS and I was impressed with their offer.
As I short almost all my trades having a good short list is important to me. from My experience from chatting with him in cases that a stock was not available IB wins over 90% of the time.
That issue alone has kept me from considering LS any further.
I have heard lightspeed was pretty good with the stock locates. What stock were you trying to short?
i have been using lightspeed for a year and like it. i use to trade with assent, but after they closed our office, they wanted $100/month to trade remote. there is no fee with lightspeed. the only thing i do not like about lightspeed is that they do not have "one cancel other" orders. example: you have 300 shares long at 50 with a stop at 49.85. you put an offer (exit) at 50.25. the stock hits 50.25, you get out but your stop order is still live to sell at 49.85. if the stock drops back down to your stop price two hours later, and you forgot to cancel that order, it is still live and will sell (short) the stock. it has happened to me twice. the order needs to cancel itself when you don't have a position on anymore. i called lightspeed and they are working on it. if you look at IB, you can use ninjatrader, which has excellent order management. i was looking to switch over to IB, but there fees are too confusing for me. cancel fees, unbundled, bundled, 1.30 minium, what the f*%k? i don't get it. if someone explained it, maybe i would switch. but a this point, i am very comfortable with the lightspeed platform now. one tip for you, it took me a long time to figure out lightspeed stops. if you read their manual, it can take up to 30 seconds for their stop orders to work. that is way too long. after 6 months, i figured out that you can setup a custom order. i setup a buystop and sellstop order. you then use arcamarketcloseoutfull order. if the stock trades at your stop price, it immediately becomes a market order to exit entire position immediately. no delay.
Interesting. How much did they steal from you and what were the circumstances?Quote from greek:
I know nothing about lightspeed but I have been trading with IB for about 5 yrs. These guys are THIEVES. They always find ways to steal your $$$. I am thinking about MB Trader. Better Commissions and from what I understand no problems. Welcome any and all sugggestions
[Answering someone else's question...]Quote from J.P.:
Interesting. How much did they steal from you and what were the circumstances?
In my case: a lot of bad fills trading CL. Execution allways took quite a while too.
Now using Zenfire/NT. Very fast and seldom bad fills. And if they happen they're not as bad as IB's fills. (The slow updating chart was another disadvantage)
Quote from greek:
I know nothing about lightspeed but I have been trading with IB for about 5 yrs. These guys are THIEVES. They always find ways to steal your $$$. I am thinking about MB Trader. Better Commissions and from what I understand no problems. Welcome any and all sugggestions
These guys are THIEVES. They always find ways to steal your $$$. ---- Would you mind to provide your examples?