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Open-E-Cry Issues
- Thread starter Bond-Speculator
- Start date
Quote from version77:
Why don't you just leave OEC like a man if you don't like it...
Your thread title is 100% geared to draw attention to YOUR
problem and you are hoping others are having the same problem
as YOU...
Like I said earlier, just bone up and split like a man and quit your griping...
...OEC is not for you.
It is true that my thread is 100% geared to draw attention to my problem. Are you saying I want revenge over a measly $1200 loss? Please man get real!!! I am not saying that OEC did this intentionally. I would only want revenge if they had done this intentionally and if that were the case I would be contacting the NFA, CFTC, and every professional futures organization out there to complain. Actually, I'm looking out for other people who may have an account with them or who may be thinking about opening an account with them. If you have an account, just be careful because all of a sudden you can be in with big size and be disconnected. I've said this does not occur often but it does occur; for me, it happens once every three or so weeks and this has been true for the past 8 or 9 months i've had an account with them. If you are thinking about opening an account, just know that disconnection issues DO OCCUR at OEC. That's it. I just want to lay out the problems I am having with this firm up to this time. I'm sure this information will be useful to at least one person out there. If so, then i think it was worth posting; don't you?
Quote from sunvalley:
This is your mistake for not immediately contacting OEC technical support. I have found their support and customer service to be outstanding. You should be carefull about blaming them for the problem when nobody else experienced a problem on that day AND you didn't bother to call the vendor directly.
Oh I've contacted them many many times over the past 9 or so months. Always told that the problem is with my ISP. Nobody else on this website seems to have experienced a problem; this is quite different from your statement that no one else experienced a problem.
Obviously I don't trade primarily through OEC. All in all the money I saved in commissions over the months has been made up for in losses due to disconnection issues. So I'm about even on that front. I'm not really complaining.
Only a fool would conclude that the problem is with my ISP. Keep in mind that I do have a number of A+ certifications including networking. While i'm no computer genius, I do have an intimate understanding of what is going on here.
Quote from Bond-Speculator:
It is true that my thread is 100% geared to draw attention to my problem. Are you saying I want revenge over a measly $1200 loss? Please man get real!!! I am not saying that OEC did this intentionally. I would only want revenge if they had done this intentionally and if that were the case I would be contacting the NFA, CFTC, and every professional futures organization out there to complain. Actually, I'm looking out for other people who may have an account with them or who may be thinking about opening an account with them. If you have an account, just be careful because all of a sudden you can be in with big size and be disconnected. I've said this does not occur often but it does occur; for me, it happens once every three or so weeks and this has been true for the past 8 or 9 months i've had an account with them. If you are thinking about opening an account, just know that disconnection issues DO OCCUR at OEC. That's it. I just want to lay out the problems I am having with this firm up to this time. I'm sure this information will be useful to at least one person out there. If so, then i think it was worth posting; don't you?
Again.....It is your fault for not contacting tech support regarding YOUR problem or calling to CLOSE your position until the issue was identified. Did you know they would close your open position without any charges whatsoever?
There are enough OEC traders watching these forums and this thread and apparently none of them had any problems like yourself. Why don't you just close your account and go somewhere else.
Quote from sunvalley:
Again.....It is your fault for not contacting tech support regarding YOUR problem or calling to CLOSE your position until the issue was identified. Did you know they would close your open position without any charges whatsoever?
There are enough OEC traders watching these forums and this thread and apparently none of them had any problems like yourself. Why don't you just close your account and go somewhere else.
I agree completely that any loss in my account is my fault. Whenever you open an account with a broker you are taking a chance; i knew the risks when I opened the account. The little over $3 in commissions I pay per RT for the bonds and $4 for ES is low considering there are no monthly fees; when you go with price over reliability you are taking a risk. I am currently weighing the risk versus the reward to see if it is worth staying.
Thanks for the advice. Considering how I've dealt with problems like this in the past, I'll probably take it. In the mean time, I'll post all the disconnection problems I have on this forum as they happen. There are a few other professional trading forums on the web to which I'll post such problems as well. I'll let you guys know how things turn out. Thanks again.
Quote from Bond-Speculator:
I agree completely that any loss in my account is my fault. Whenever you open an account with a broker you are taking a chance; i knew the risks when I opened the account. The little over $3 in commissions I pay per RT for the bonds and $4 for ES is low considering there are no monthly fees; when you go with price over reliability you are taking a risk. I am currently weighing the risk versus the reward to see if it is worth staying.
Thanks for the advice. Considering how I've dealt with problems like this in the past, I'll probably take it. In the mean time, I'll post all the disconnection problems I have on this forum as they happen. There are a few other professional trading forums on the web to which I'll post such problems as well. I'll let you guys know how things turn out. Thanks again.
Yeh pal....blame it on the vendor when absolutely no one else has joined your cause. Looks like me to be user error in this case. Maybe OEC is right and it is your ISP and any disconnect issues that you post here will be your fault anyway.
Quote from Quark:
I've been with OEC since April and haven't had any problems. The DOM is good, especially since the last upgrade. Since they added charts with the tools I need, I dropped my old chart service and the data feeds I used to pay for. I couldn't be more satisfied.
Take it from me, it is important to have chart data which is independent from the data provided by the broker you trade through. As you gain more experience in the markets, you will understand why this is so important.
Personally I use CQG for my charts. Another very important thing to do is to be sure that your charts run on a different machine than the computer your trading platform software runs from. I have three computers designated for trading: 2 for trading platforms and 1 for my charts.
CQG is fabulous. when TT goes down I can always count on CQG to let me know what is going on in the markets. Of course, to get the best you have to pay for it so CQG is relatively expensive.
Truth is I'll probably keep my OEC account open for at least a bit longer. I like to have my money spread around many different brokers; for example, when OEC went out this past week I was easily able to open TT and buy a 15-lot in the 10-yrs. This provided a decent hedge and actually lowered my risk.
Between both accounts, I lost a little over $546 on that trade (-$1250 on the bond trade at OEC and +703 in the 10-years at Velocity Futures). I do not like trading the NOB with each leg being executed in a different account but this turned out to be the only other option (other than calling OEC and closing out the position completely). I've traded the NOB and FITE like that before (each leg in a different account) with varied results; i do not recommend doing this because margins are higher this way (as opposed to the spread margin you get when both legs are executed in the same account). On the flip side, your brokers never know that you are trading spreads because they only see one side of the order. So that's that. Turned out not to be too bad after all.
though a loss is still a loss. And I do blame the disconnection issue at Open E-Cry for that $546 loss.