I notice that the software has ISI,ADP,and SAGE as order routes.What are these supposed to be?
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Remote ECHO Traders
- Thread starter white
- Start date
I've used sterling only in demo mode so i can't comment on execution speed. But charts, etc. are better on echotrader2 imo. But I think everyone has to try himself and use what fits for his trading style
SAGE and ADP are options order routings. ISI has something to do with NYSE i think but i was told to use DOT
SAGE and ADP are options order routings. ISI has something to do with NYSE i think but i was told to use DOT
Originally posted by lescor
Systems go down in offices too, so you are at risk no matter where you are. Trading remote, you are probably have a better chance of a being bumped from your internet connection, but it's only 30 seconds from the time you pick up the phone until you are out of your positions. When I've had to call, I've always gotten through immediately.
One thing thing that impressed me about Echotrade was when their system went down right after the open, and it cost me about $600, they recognized that it was their fault and they wiped out all my trades for the morning. Firm-wide, it cost them about $15,000. I haven't heard of any other firm eating losses when it's their fault.
yea, few firms will ever do that...most of the time they say downtime is part of the risk
Originally posted by NasdaqTrader
According to Rtharp,Echo uses T 3's for their remote traders.
T3 would definitely open up the bandwidth on the firm side (if they have lots of remote traders coming into the network), but the slowest link is always going to be on the trader's side. So if you have a flaky DSL (maybe you're too far from the CO), or a sucky CableModem (because your neighbors are hogging up bandwidth) then you're still outta luck. If you are willing to pay for it, a T1 with a SLA on your end would be worth it when comparing how much you can lose if you went down because you have a bad connection. I think you can get that for about $600/mo now from some of the regional ISPs, check with your providers in your area.
Originally posted by Tom Frey
why everyone always thinks he needs to have the top notch hardware for being able to trade.
It all depends on what your style is like.
You using tons of charts? then i'd go for more ram. I'm using 512mb, but 256 would be sufficient as well with winxp.
Trading software generally doesn't waste too much of CPU power so it doesn't need to be a >1GHz processor.
And how cares about disk space? you can be fine even with 3GB.
T-1 what for? are traders fulltime movie leechers or what? ( ok some are =))
It's not the bandwith that is decisive.. furthermore it's the ping time.
And with fastpath enabled DSL lines you can have faster pings than with T-1.
conclusio:
you don't always need the state of the art setup to trade successful although it's beyond any doubt nice to have bot no "must".
Get what you can afford and you're fine
You will hardly find DSL faster than T1s (1.544mbps), nor cable modem if you measure averages. But the case for T1 is more clear when looking at reliability. DSL is pretty much out of the question if you live further than 2 miles from your CO, if you live within 1 mile there's still a question about the copper for your POTS lines. For cable modem, they are good if you are the only one using it within your service area, but good luck to you if you live among areas near a university or something...kids will be downloading MP3s and MPEGs all day and night. With point-to-point T1s, you go direct and your SLA guarantee uptime. Although expensive for some traders, it's well worth it if within one year you have one bad trade due to network downtime on your end that cost you all the months you had paid for it. If you have good DSL/Cable connection, then you're one of the lucky one. If not, you may want to consider trading within the firm if you don't want to pay for the T1.
Originally posted by nitro
Hmmm - I have with 1GB of memory and dual Xeons that are at 100% the entire time the markets are open...
nitro
Sounds like some TSRs or other services are running that's draining your cycle time, dual Xeons are next to the best to Itaniums, you can't get better then that, especially for a single trader! Those are usually used for servers running multiple sections for a whole office. Think you should run a dianostic of the processing % to see where the threads are coming from.
Originally posted by TonySanDiego
500 mGZ Pentium III
4 gB hard drive
784 mB memory
DSL (with cable backup)
3 + 1 monitors (2 machines)
No problems, I often get filled much faster than I really want.
(now why the heck did I just do that dumb move for?)
Multiple monitors with good resolution is one thing you really will want to have.
I agree, good resolution good monitor is crucial to trading...many traders don't even consider this until their eyes get all watery and squitty from looking at the monitor all day long. This is extremely bad because not only does it hurt your eyes, but also break your concentration from trading. Don't go cheap when it comes to your eyes. Go LCD if you can afford it.
Originally posted by bro59
Running Sterling on a PII 266 with 400 megs on a laptop and Windows 2000 via a cable modem from Anchorage, Alaska. Great reliability and the system is plenty fast. I'm the weakest link in the setup, as I suspect are many traders who overemphasize equipment and connectivity issues in their trading.
Anchorage, Alaska? Wow, how many traders are there? That's amazing, thought everyone there is a fisherman or something. I bet there's great scenary there, love to take a cruise there some day.
Originally posted by JCM2
Sorry for the dumb question, but what does "SLA" stand for and what is it?
Thanks!
Service Level Agreement - a contract between you and your provider to guarantee a certain level of service they must meet (or else credit must be awarded to you), parameters include but not limited to downtime and latency...hope that helps