Limit orders in fast markets

surely the platform is irrelevant - assuming it is basically efficient - since it is the routing to Globex which is all important to getting the trade - so PATS with one clearer could be great and slow with another -

in most markets the time issue may not be important - but in fast moving markets with high volume - a fraction of a second could be the difference between getting filled or not

this is one of the issues that might concern me with CQG OTTO where i believe there is an extra delay via CQG
 
tntneo

i have yet to use IB although I will try it in the next week - so i have no idea how the platform works - would you say it takes exactly the same time to physically place a limit as it does a market order

and do you know if the IB conversion of a market order to limit order means that the market order might end up later in the queue - assuming both leave at the same time
 
I can't know about the internal processing and queue issue (I wish I knew). However, we are talking computers here, it is likely much faster than the human element (deciding to press the key).

Regarding the speed, yes, it is the same speed to place limit or market for the human (if you don't change the price). with hotkeys, even changing the price is very very fast if you have too (but then, it's not a 'market like' order, so no comparison anymore...)

tntneo
 
neoThanks again Tntneo. Lately there has been so much IB bashing that I thought there was better out there. Quite honestly i think IB with hotkeys is SUPER SYSTEM and i am glad that a trader on this forum who i truly respect and admire (no sh-t) feels strong about IB. Gonna stick with them. THANKS
 
IB seems to be the only broker anyone on here uses, and since IB also do futures, options and stocks - they are going to get the most crap - and rightly so as dealing with the problems will make them the best

but doesn't anyone else use another broker which has problems or are there no other brokers - are IB taking over the world
 
other traders I respect a lot do prefer JTrader.
It does not change my mind though. IB is very good and keeps improving.
Also, I like to work with them because they can offer futures, options and stocks, and all at great prices.
There is a lot of bashing against them because, I guess, they are a lot of trouble to many shops.
Don't get me wrong, I am not promoting them. And as you pointed out I publicly criticize their policy a lot on EliteTrader on some very specific issues. I am glad these issues are no longer. So as a simple customer, I am very happy with them.
Anyone can try a broker. I think 5000$ is enough to try IB, other brokers sometimes ask more. If you are not happy, just try another one until you find bliss. That's what I did.

tntneo

PS : stevet, IB won't take the world. they target very serious and sophisticated traders. they won't hold the client's hand etc. so they are retail brokers but not for everyone.
I think the datek and scottrade etc are getting a lot of business. but who cares.
 
i am thinking about trying IB. slightly off topic, but do you need to open two accounts - one for stocks and the other futures, or can one account trade both.

thanks!
 
tntneo

IB on here seems to be like the wife - can't live with her - can't live without her

But although people do like the J Trader interface - that is what it is -an interface - it is the introducing broker and the clearer which is important

Stocks are a whole other issue, and i dont have a clue about how to evaluate trading platfrorms - and personally - i think single stocks except SPYDERS etc are just too risky a way to make money compared to buying 500 stocks at a time with a futures contract - one or two ceo's do not have the chance to blow your wad then
 
stevet, very good point regarding JTrader being an interface.

regarding stocks, I know what you mean, but there are many ways to trade stocks. And the profitable ones I know (I said the one I know) are very, very different than what you would do with futures. Also you don't have to take overnight risk if you have a method which does not require it. also, remember than gaps are great trading opportunities too (despite the stupid ceos).

there are all kind of stocks to, and therefore many styles to handle them. But that's not to say they are better or not than futures.
Futures are very 'pure' trading instruments. But they are not for everyone. on the other hand don't underestimate stocks, most pro trading firms (I mean firms trading for a living) trade stocks (listed actually) and not futures. There are reasons for that too.

You probably know all that, but i wanted to take advantage of your response to voice that out.

tntneo
 
tntneo

i am absolutly sure there are lots of people making big bucks trading stocks - i have just never intra- day traded them - so as it happens - i have no idea of the risk reward - i know futures offer opportunities every day - based on the same parameters - so you do not have to keep looking for the new stock etc - but whether it is easier or not to make money from stocks - i have no idea - but i guess that the reason i use futures is because i believe it is easier - rightly or wrongly

and all that stuff - about what works for you etc - does not cut ice with me - there are always going to be easy, hard or impossible ways to make money

i know that the guys who are experts and paid a lot of money in europe to trade stocks, have pissed away a lot of money, including the pension money of everyone in Europe, and that the shit has yet to hit the wall on that one
 
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