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RediPlus
- Thread starter Tab414
- Start date
Just a few thoughts from a firm that uses
REDI+. Make sure you have a fast and
reliable internet connection. If your ISP
is slow or not reliable, no order execution
system will work. Make sure your computer has
enough RAM if you are using multiple software
packages(REDI+ & E-Signal , REDI+ & AT Financial).
We recommend 256 Meg Ram if you are using two
software packages. Our software techs recommend
MS Windows NT 4.0 or any later version. I
know REDI says you can use Windows 98 or
2000, but we have had more reliability with
Windows NT. See our requirements page at
Lieber & Weissman Sec., L.L.C.(Stocktrade Network)
located at
http://www.stocktrade.net/services/redi/redi_download_require.htm
If you are having trouble at the bell, you
are not alone. REDI has been trying to increase
bandwidth & server space. In all fairness, they
have done a very good job. REDI+ software is
backed by Spear,Leeds & Kellog(a Goldman Sachs
company), so they have deep pockets for software
upgrades & development. If you do have problems,
you need to make sure the problem is not with
your ISP, computer (operating system ,memory etc.)
before calling the REDIDESK or customer service at
your broker. Have a tech available in an emergency
for troubleshooting or hardware/software upgrades
if you need help. If the problem is at REDI, call
a tech at the REDIDESK in they usually give good
customer service(know your user# and account#).
All direct acccess order execution systems will
have some problems once in a while. I give REDI
high marks for their software development and
support.
Gene Weissman
Lieber & Weissman Sec., L.L.C.
gweissman@stocktrade.net
REDI+. Make sure you have a fast and
reliable internet connection. If your ISP
is slow or not reliable, no order execution
system will work. Make sure your computer has
enough RAM if you are using multiple software
packages(REDI+ & E-Signal , REDI+ & AT Financial).
We recommend 256 Meg Ram if you are using two
software packages. Our software techs recommend
MS Windows NT 4.0 or any later version. I
know REDI says you can use Windows 98 or
2000, but we have had more reliability with
Windows NT. See our requirements page at
Lieber & Weissman Sec., L.L.C.(Stocktrade Network)
located at
http://www.stocktrade.net/services/redi/redi_download_require.htm
If you are having trouble at the bell, you
are not alone. REDI has been trying to increase
bandwidth & server space. In all fairness, they
have done a very good job. REDI+ software is
backed by Spear,Leeds & Kellog(a Goldman Sachs
company), so they have deep pockets for software
upgrades & development. If you do have problems,
you need to make sure the problem is not with
your ISP, computer (operating system ,memory etc.)
before calling the REDIDESK or customer service at
your broker. Have a tech available in an emergency
for troubleshooting or hardware/software upgrades
if you need help. If the problem is at REDI, call
a tech at the REDIDESK in they usually give good
customer service(know your user# and account#).
All direct acccess order execution systems will
have some problems once in a while. I give REDI
high marks for their software development and
support.
Gene Weissman
Lieber & Weissman Sec., L.L.C.
gweissman@stocktrade.net
previous comments summ up a mouthful, simply put, I'm sure that there's far superior software than Redi+. I've had the L2's freeze, had bad fills, and SLK's tech support is the "nastiest, most arrogant" I've ever run across, given that it takes serious bread just to use this platform.
Absolutely zero risk manangement features for Nasdaq stocks, none; an intollerant attitude towards any complaints about their software's inadequacies in comparison to their competition that does provide those features.
The parent company, although being GS, was SLK, which is a primary MM, and certainly hasn't shown that they were my interests.
Other traders I worked with loss sums, and frequently complained about horrid fills. Seems daytrading firms swear by their software and setup/tech support, but under pressure when 20+ traders complain regarding software irregularities (even on a T1), then even the firms' manager concedes that the setup stinks.
Look elsewheres and save yourself from loosing while learning the foibles of their software. Pity I didn't have this advise before I ran across them.
Absolutely zero risk manangement features for Nasdaq stocks, none; an intollerant attitude towards any complaints about their software's inadequacies in comparison to their competition that does provide those features.
The parent company, although being GS, was SLK, which is a primary MM, and certainly hasn't shown that they were my interests.
Other traders I worked with loss sums, and frequently complained about horrid fills. Seems daytrading firms swear by their software and setup/tech support, but under pressure when 20+ traders complain regarding software irregularities (even on a T1), then even the firms' manager concedes that the setup stinks.
Look elsewheres and save yourself from loosing while learning the foibles of their software. Pity I didn't have this advise before I ran across them.
Limitdown,
I'm sorry you have had bad experiences , but it
sounds like some of the problems may be with you
and/or your introducing broker. Are you connected
to REDI+ by internet or WAN(wide area network)?
What version of the software are you using? Does
your firm have a full time Windows NT tech or have
one on call? Direct Access Order Execution software
problems need to be "troubleshot" correctly. You
say Nasdaq level II always freezes. This does not
happen at our firm or our branch offices. When you
trade NASDAQ , you should always use an ECN and never
preference a Market Maker. If your network is setup
properly, you should get ECN fills in less than one
second. One of the problems of our industry is that
too many firms have opened up with no on site
support. Direct access software is complex and must
be loaded , maintained and "troublshot" by qualified
personel. Any legitimate firm must have a full time
Windows NT tech on staff or on call. There is no
excuse for rudeness by REDI+ tech dept., but they
receive 100's of calls a day, many by traders who
have hardware or software problems not related to
REDI. They have worked well for us. Our policy is that
traders call us first, we work with our in house
techs and then we call REDI as a last resort if we
cannot fix the problem. We solve 95% of our problems
in house, because we have qulaified techs on staff.
If you are in the NYC area, call me or stop by our
offices and I will give you a REDI+ demo, with none
of the problems you say REDI has. Can REDI+ have
problems? The answer is yes and all the problems we
have had have been corected by upgrading software,
reloading Windows NT, upgrading lines, switching
routers, switching servers etc. Again , software
can be complex and must be troubleshot by qualified
personel. I have used almost all the EDAT software
out there and all the software can have the problems.
REDI+ is a decent product that has worked well for our
firm.
Gene Weissman
Managinmg Member
Lieber & Weissman Sec., L.L.C.
Members PHLX/SIPC
gweissman@stocktrade.net
212-509-8813 X 412
See us at http://www.stocktrade.net
I'm sorry you have had bad experiences , but it
sounds like some of the problems may be with you
and/or your introducing broker. Are you connected
to REDI+ by internet or WAN(wide area network)?
What version of the software are you using? Does
your firm have a full time Windows NT tech or have
one on call? Direct Access Order Execution software
problems need to be "troubleshot" correctly. You
say Nasdaq level II always freezes. This does not
happen at our firm or our branch offices. When you
trade NASDAQ , you should always use an ECN and never
preference a Market Maker. If your network is setup
properly, you should get ECN fills in less than one
second. One of the problems of our industry is that
too many firms have opened up with no on site
support. Direct access software is complex and must
be loaded , maintained and "troublshot" by qualified
personel. Any legitimate firm must have a full time
Windows NT tech on staff or on call. There is no
excuse for rudeness by REDI+ tech dept., but they
receive 100's of calls a day, many by traders who
have hardware or software problems not related to
REDI. They have worked well for us. Our policy is that
traders call us first, we work with our in house
techs and then we call REDI as a last resort if we
cannot fix the problem. We solve 95% of our problems
in house, because we have qulaified techs on staff.
If you are in the NYC area, call me or stop by our
offices and I will give you a REDI+ demo, with none
of the problems you say REDI has. Can REDI+ have
problems? The answer is yes and all the problems we
have had have been corected by upgrading software,
reloading Windows NT, upgrading lines, switching
routers, switching servers etc. Again , software
can be complex and must be troubleshot by qualified
personel. I have used almost all the EDAT software
out there and all the software can have the problems.
REDI+ is a decent product that has worked well for our
firm.
Gene Weissman
Managinmg Member
Lieber & Weissman Sec., L.L.C.
Members PHLX/SIPC
gweissman@stocktrade.net
212-509-8813 X 412
See us at http://www.stocktrade.net
Just one thing I wanted to mention. If you
are using multiple software packages with
REDI+ , I would recommend only using Windows
NT 4.0 or higher and have plenty of RAM ,
minimum 128K(REDI+ alone) or 256K(REDI+ &
E-signal , REDI+ & Bridge, REDI+ & AT Etc).
See our site for hardware requirements at
http://www.stocktrade.net/services/redi/redi_download_require.htm
If you have only 64 megs of RAM and 20 windows
open , your computer will lock up , slow down
etc. That's why having the proper hardware is
important. If your not a tech(I'm not), get one
to help troubleshoot your problems.
Gene Weissman
Managing Member
Lieber & Weissman Sec., L.L.C.
Members PHLX/SIPC
gweissman@stocktrade.net
See us at http://www.stocktrade.net
are using multiple software packages with
REDI+ , I would recommend only using Windows
NT 4.0 or higher and have plenty of RAM ,
minimum 128K(REDI+ alone) or 256K(REDI+ &
E-signal , REDI+ & Bridge, REDI+ & AT Etc).
See our site for hardware requirements at
http://www.stocktrade.net/services/redi/redi_download_require.htm
If you have only 64 megs of RAM and 20 windows
open , your computer will lock up , slow down
etc. That's why having the proper hardware is
important. If your not a tech(I'm not), get one
to help troubleshoot your problems.
Gene Weissman
Managing Member
Lieber & Weissman Sec., L.L.C.
Members PHLX/SIPC
gweissman@stocktrade.net
See us at http://www.stocktrade.net
Risk Management features - ziltch..
By comparison to other more substantive platforms, which tend to treat the client as a customer and not as a Branch office (which uses the platform for all traders), Redi+ doesn't even attempt to protect one's principle and gains or limit ones losses.
Shame on you if nature calls and you answer and turn your attention away for one moment, where you either forget or can't hit the switch and reverse a trade, then you're in for the ride into the tank.
Stop Limit, Stop orders, Buy Stops, Trailing Stops are usually implemented for Nasdaq stocks by means of a "server side" solution, where in the software host maintains an order book and conditionally submits the orders based on their stop instructions. Something as simple or complex as that would have saved not only myself, but dozens of other traders boatloads.
When confronting Redi+ Technicians with the specific details sufficient for them to incorporate this into their software, they did two things. 1) they severly reprimanded the branch manager for letting his client/customers call them; 2) whenever you did get an answer from them directly, they poo-poohed the idea as "not on their priority list", and not a desired feature from their customer base.
Any software that doesn't allow me to protect my principle and the ability to stay in the game, just aint worth ....t, and certainly shows that it isn't worthy of my usage. I didn't know at the time, whence I'd see other traders literally blow up at the screens, and yes Gene, we had a few competent NT techs (who frequently needed my assistance), I didn't know at the time that 98% of the problem was this glaring lack of RM features.
If you're going to play this pseudo professional game with your own hard earned ... then you're beyond dreaming to think you can "always be fast enough" to not need RM features.
See if you can short that!
By comparison to other more substantive platforms, which tend to treat the client as a customer and not as a Branch office (which uses the platform for all traders), Redi+ doesn't even attempt to protect one's principle and gains or limit ones losses.
Shame on you if nature calls and you answer and turn your attention away for one moment, where you either forget or can't hit the switch and reverse a trade, then you're in for the ride into the tank.
Stop Limit, Stop orders, Buy Stops, Trailing Stops are usually implemented for Nasdaq stocks by means of a "server side" solution, where in the software host maintains an order book and conditionally submits the orders based on their stop instructions. Something as simple or complex as that would have saved not only myself, but dozens of other traders boatloads.
When confronting Redi+ Technicians with the specific details sufficient for them to incorporate this into their software, they did two things. 1) they severly reprimanded the branch manager for letting his client/customers call them; 2) whenever you did get an answer from them directly, they poo-poohed the idea as "not on their priority list", and not a desired feature from their customer base.
Any software that doesn't allow me to protect my principle and the ability to stay in the game, just aint worth ....t, and certainly shows that it isn't worthy of my usage. I didn't know at the time, whence I'd see other traders literally blow up at the screens, and yes Gene, we had a few competent NT techs (who frequently needed my assistance), I didn't know at the time that 98% of the problem was this glaring lack of RM features.
If you're going to play this pseudo professional game with your own hard earned ... then you're beyond dreaming to think you can "always be fast enough" to not need RM features.
See if you can short that!
Limitdown,
Your point is well taken. I'm sure you
had some bad experiences with the software,
but from what you say most of the problems
you talk about seem to be a lack of communication
and knowledge. There are no "stop orders" on
NASDAQ unless this feature is built into the
software. NYSE & AMEX accepts stop orders and
this feature seems to work well on REDI. Can
you force REDI to build this feature into the
software? If enough people ask they might, but
they are not required to do so. Remember NASDAQ
MM do not accept stop orders. Of course REDI is
far from perfect, but the problems you mention
are found in one form or another on other EDAT
software.
REDI usually only wants branch managers and the
staff of an introducing broker to call for
suggestions during the day or before or after
market hours. Spear,Leeds & Kellogg only clears
for professional customers and their lines would
be bogged down if traders were constantly calling. If
your firm went through the proper channels at the
right time, you may have got more done.Remember
REDI does not handle true "customers", like a
full service or discount brokers. I have no trouble
talking to REDI, mainly because I call after or
before market hours and I am a firm manager.
I would suggest you try another platform and see
if things work better. If you read some of the
comments from other traders, you will find
some of the same concerns about other platforms.
EDAT software is quite complex and it's very hard to please
everyone. If you want to come down to our office
in the Wall Street area, I would be glad to give
you a demo. Good luck trading!
Gene Weissman
Managing Member
Lieber & Weissman Sec., L.L.C.
gweissman@stocktrade.net
(212)509-8813 X 412
See us at http://www.stocktrade.net
Your point is well taken. I'm sure you
had some bad experiences with the software,
but from what you say most of the problems
you talk about seem to be a lack of communication
and knowledge. There are no "stop orders" on
NASDAQ unless this feature is built into the
software. NYSE & AMEX accepts stop orders and
this feature seems to work well on REDI. Can
you force REDI to build this feature into the
software? If enough people ask they might, but
they are not required to do so. Remember NASDAQ
MM do not accept stop orders. Of course REDI is
far from perfect, but the problems you mention
are found in one form or another on other EDAT
software.
REDI usually only wants branch managers and the
staff of an introducing broker to call for
suggestions during the day or before or after
market hours. Spear,Leeds & Kellogg only clears
for professional customers and their lines would
be bogged down if traders were constantly calling. If
your firm went through the proper channels at the
right time, you may have got more done.Remember
REDI does not handle true "customers", like a
full service or discount brokers. I have no trouble
talking to REDI, mainly because I call after or
before market hours and I am a firm manager.
I would suggest you try another platform and see
if things work better. If you read some of the
comments from other traders, you will find
some of the same concerns about other platforms.
EDAT software is quite complex and it's very hard to please
everyone. If you want to come down to our office
in the Wall Street area, I would be glad to give
you a demo. Good luck trading!
Gene Weissman
Managing Member
Lieber & Weissman Sec., L.L.C.
gweissman@stocktrade.net
(212)509-8813 X 412
See us at http://www.stocktrade.net
Tabb,
I've been using Nexa 2.0 offered by Nexa Securities(www.nexasecurities.com)since January and can tell you with my experience with CyBerTrader, RealTick, the Executioner, and Protrader Nexa is head and shoulders above them. First I have not experienced an outage with the software since January. Let me be clear here; I have experienced internet problems locally and never once has their software crashed. Their quote server provides a faster more consistent quote stream along with an almost absolute elimination of "stuck" quotes than I have ever seen delivered by the products listed above. Additionally and probably a little technical is that their client software is very "thin" (meaning, it does not take up a lot of space on your hard drive).
I hope this helps you. If you have any other questions, please feel free to ask.
Tim
I've been using Nexa 2.0 offered by Nexa Securities(www.nexasecurities.com)since January and can tell you with my experience with CyBerTrader, RealTick, the Executioner, and Protrader Nexa is head and shoulders above them. First I have not experienced an outage with the software since January. Let me be clear here; I have experienced internet problems locally and never once has their software crashed. Their quote server provides a faster more consistent quote stream along with an almost absolute elimination of "stuck" quotes than I have ever seen delivered by the products listed above. Additionally and probably a little technical is that their client software is very "thin" (meaning, it does not take up a lot of space on your hard drive).
I hope this helps you. If you have any other questions, please feel free to ask.
Tim