Refco Pro Is Utter Sh1te

[marky1]

You muppet, you got filled at the best bid price - what don't you understand? You cannot sell at 64.5 if the market is 65 bid. You will get filled at 65 and only 64.5 if your size is greater than the bid size at 65. You got filled at the best bid price despite what you may think, obviously by the time you hit the bid (and by the way you are still putting in a limit order, not a market order as you are essentially saying I am willing to sell anywhere down to 64, or whever you clicked) the 65.5's and 65's had already been taken. Let me repeat again you cannot sell 64's if it is 65 bid. SO IT WASNT 65 BID.

And mr big trader boy, learn how to write or say a price, before you said 22 at 64.5 etc which means offers, now you're saying bids. i.e "45 on the bid at 65.5, 30 on the bid at 65" you mean 65.5 for 45, 65 for 30. I think you're just really mixed up about how things work. By the way what office you in Gib, or London? (or other). And as for your "made more money last month than me in my whole career" comment, whatever. I'm sitting in the same office block as refco gib and i'm in gib for a reason.

So get back to your books and learn how markets work

 

[George SoreAss]

the mkt was 65 bid, or whatever, and I sold the price way below. Honestly, look seeing as you're a Refco guy I will give u the benefit of the doubt, and retract my isnults hurled at you, however.... try this:

see the dax, ok, say it is very very quiet, because I tried this out with an IT guy later to show him. Ok if it had 45 on the offer at 68 and 45 on the offer at 68.5, and it is quiet - just put a one lot through at 68.5 and see for yourself, you will get 68.5 despite it being 68.... guaranteed!! try it

 

[marky1]

Thanks for retracting your insults as I am in a way trying to help you understand how markets work

If you are correct about the test you did with IT then this is what I read into it:-

firstly market is offered at 68 and 68.5, you want to buy 1 lot but its a fast market so you put in a limit order to pay up to 68.5, you WILL get filled at 68 if there is an offer there. If you are getting filled at 68.5 when it is DEFINATELY 68 offered then someone is stealing that half tick from you - read into this waht you like. It is IMPOSSIBLE if a market is 68 offered and you are a buyer to pay 68.5. what does happen sometimes is that the 68's go before you hit the 68.5 and you think you are being shafted, you are not, it is a quick market.

I was going to suggest a £10,000 bet with you that if you click to buy an offer higher than where the lowest offer is you will get the lowest offer until you came back with your comment about testing it with the IT guy. Something is not right I am telling you. Get in the head of your office and do the test in front of him and ask him where the other half tick is going!

By the way, at refco most of the big traders are still on TT - would you like to be a little more honest about your trading size/stature etc in the future?

 

[trade4succes]

Quote from George SoreAss:

the mkt was 65 bid, or whatever, and I sold the price way below. Honestly, look seeing as you're a Refco guy I will give u the benefit of the doubt, and retract my isnults hurled at you, however.... try this:

see the dax, ok, say it is very very quiet, because I tried this out with an IT guy later to show him. Ok if it had 45 on the offer at 68 and 45 on the offer at 68.5, and it is quiet - just put a one lot through at 68.5 and see for yourself, you will get 68.5 despite it being 68.... guaranteed!! try it

if that's really the case, then something very fishy is going on. you sure you are not on simulation

another thing, during fast market, the eurex matching engine can be unpredictable, because of the netting process i remember from some time ago..

 

[Coffeebean]

I've been wondering about the performance of Refco Pro...but this thread didn't help much, lol. E.T. should start a new forum called "Monkey-Feces Hurling", I'm sure it will be quite popular.

 

[George SoreAss]

NO ONE AT REFCO LONDON IS ON TT, it's against the law for us to use it, god knows what is going on in Gib, but there is no server for TT here anymore....

... and when I did the test, it was dead quiet, and heavily offered. And I swear, I did buy 68.5 despite 68s staying the same offer whilst doing it ....

... I'm not a huge trader, never said I was - 10 lots dax, nothing

 

[marky1]

well then making sweeping statements about making more in a month than I may have done in my career is not wise. And again, go to the head of your office, sit him down in front of your screen, and show him. Something is not right.

 

[TGM]

Back a few years ago in Chicago, I was trading for a desk. Anyhow, our brokerage we were clearing was bought out by Refco. Before that I had only dealt with Refco via the Pit and they were quite good. Refco had a ton of dough. So everyone assumed that they knew what was up or could at least buy the people to tell them what to do.

Refco was moving stuff around and brought out this huge new computer server etc. facility outside Chicago. It was a disaster. At the time, we could use TT or Pats. Obviously, you know the choice there. But they both sucked because THEY WERE ON Refco's servers not TT's. Over a short time period (like a couple weeks), I saw more money lost than any other time in my trading career (I have been trading since 94'). Servers down into numbers---we could not find out positions etc etc. DISASTER. To this day, I had never seen anything like it.

A year ago or so, I was asked by an acquaintance to try out Refco Pro. I put the demo on an extra computer and ran it side by side. It seemed ok and looked nice. Over the course of 2 weeks it was down like twice going into numbers. I deleted it off the system and would never dream of doing any electronic futures business with Refco. Too dicey. Yeah, you can get them on the phone. But they are more trouble than they are worth. For pit futures ---fine. For forex---I know people happy with them. But for electronic futures----no way.

 

[FredBloggs]

Quote from George SoreAss:



Fred bloggs - didn't put an order in to get out, I hit the red strip, i.e mkt to get out..... you're an absolute idiot

lol - well one of us is thats for sure!



bwahahhahaha!!

 

[FredBloggs]

Quote from George SoreAss:

Avoid at all costs. This morning, I was long 10 dax , and it started to fall aggressively, so I just hit the red strip to get out. Mkt was at 48/48.5 and I hit the 46.5 box to get out thinking it would just get me out at mkt, it got me out AT 46.5 even though the mkt wasn't trading there!!!

and then....