Will you stay with Cyber/Schwab if they only offer per trade pricing?

Quote from JM64:

how about the fact that sspro only allows 6 charts at once.....dont think that works for anyone?
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That would be a deal breaker for sure. The whole attraction of CT is that it is an integrated charting/trading package. There are cheaper alternatives if the charting becomes crap.

Same with the ability to direct orders and pre and post market timings. I can't really believe Schwab would think that CT users would accept anything remotely like SSPro.

It continues to baffle me that all we get from Schwab is silence. Perhaps they are busy running spreadsheets reassuring themsleves how profitable this will be when all the CT users are sending in market orders for them to sell.
 
Lets face it...chucky is gunning for both the merrill's and the ET's of the world. I doubt the words IB or tradestation have ever been spoken at one of their meetings. We've been sold out so chucky can advertise to the web-based drones who will take one look at SSP and think it's the greatest thing since decimalization.
 
"The Integration of Schwab and CyberTrader Is Progressing Nicely
"

A new email from CyberTrader came tonight. That's the headline.

Cybertrader_Rep, could you PLEASE address the routing issue? In StreetSmartPro, you CANNOT short just before the market opens or just after the market closes because Pre & Post market trading don't match up with the 9:30-4:00 market day. You also can't access a smart router for orders during those time period as well.

I have both CyberTraderPro & StreetSmartPro. Orders hit the market much faster with CyberXchange routing & Cybertrader than with SmartEx routing & StreetSmartPro. The delay between order entry & hitting the market with StreetSmartPro was enough that I stopped using the program & opened an account with MB Trading. I tested CyberTrader after seeing another trader use it earlier this year. I was stunned that the orders hit the market almost instantly with CyberXchange, so I opened an account with CyberTrader & have abandoned MB Trading. Will CyberXchange be made available in StreetSmart Pro when the accounts are kicked off of CyberTrader?

Thank You.
 
CyberTrader Rep here, sorry for the delayed response.

I wanted to follow up with a brief update regarding CyberTrader’s pending integration with Schwab.

We are still in the process of prioritizing the tools and features found on CyberTrader Pro that need to be added to the SS Pro platform. By early July -if not sooner- many further details will be known, and I will be happy to share them here on this message board.

I know some of you expressed concern about why we do not have all of the details now. We knew when we made the integration announcement that there would be many questions that we did not yet have answers for. However, we felt that it was more important to keep clients informed about any pending changes to their account as soon as we knew it. Waiting until all the details had been sorted out would have required clients be kept in the dark about the announcement longer, and that was unacceptable to us.

Again, I'll be back shortly to share what I can with the traders that visit this forum.


Thank you,



CyberTrader Rep
 
The latest reply from the Cyber/Schwab trading merger.

NOTE: ALL COMMENTS IN BLUE ARE STATED FROM ME NOT CYBERTRADER/SCHWAB.

As the email states from an email update:

A message from Vincent Phillips, CEO, CyberTrader

Dear John Doe: (changed the name of course)

Since my announcement that CyberTrader will be fully integrating into Schwab, we have had the pleasure of hearing from many of you, and I'm very pleased that the response has been largely positive. ( I find this hard to believe!) We've also received some questions about specific pricing and features that might change upon integration. I'd like to take this opportunity to cover a few of these topics. As more information becomes available, I will continue to send you updates.

Per-share Pricing - CyberTrader's currently published equity pricing, including per-share pricing, will be honored at Schwab for all current CyberTrader clients regardless of your assets or trading activity. Call Client Services with any questions about your pricing.

MY THOUGHTS:Thought this was already covered, but understandable if for clarification.

Strategy Testing Tools - The same advanced back-testing suite you currently use is already integrated within Schwab's StreetSmart Pro® trading platform.

MY THOUGHTS: This was the biggest waste of Internal time IMHO in the first place. For one it is limited to MA's and secondary indicators which is a total waste of money, time and resources. YOU SHOULD'VE SPENT THE TIME IMPROVING YOUR CHARTS!


Saved Layouts/Watch Lists - Upon integration, your saved CyberTrader Pro layouts and watch list settings will automatically load into StreetSmart Pro. You will not have to learn how to use a new trading platform - it will look quite familiar to you.

MY THOUGHTS: Thats good if it actually works as stated in the response. Of course SSP will look similar, it's a copy of CyberTradePro dumbed down.

Briefing.com Research - In addition to continuing to receive free Briefing.com and MarketEdge research, through Schwab you will also get access to proprietary content like Schwab Equity Ratings, integrated into StreetSmart Pro.


MY THOUGHTS: Ok... good if you use it.


Direct-Access Orders - Schwab's equity direct-access order-routing technology and tools were developed by CyberTrader. These tools provide clients with choices regarding where to route orders.

MY THOUGHTS: Is this a misleading statement? We obviously know that the Cyber Guys/Gals did the work. (Very Good Peeps)
Are things going to be the same in aspect in this scenario or are you just using the Brains of Cyber to give us a misleading statement on our expectations of executions as they currently are executed?


Advanced Order Types - In addition to currently supporting limits, stops, trailing stops and alerts with Schwab by the end of 2007 you will also have contingent order-entry capabilities to simultaneously place profit and loss order targets with your buy and sell orders.

I would hope so for even the weakest brokers have the basics of this!


Real-time Profit & Loss - Upon integration, you will receive streaming lot-level cost-basis data currently available in your trading platform.

Does this really need to be covered?

Futures Data - All CyberTrader clients will receive CME® futures data through StreetSmart Pro.

Good to know! I guess this transfermation could survive on the fact your dumping futures trading accounts.


Final thought: Why not quit all the B.S and just replace the dumbed down version of cyber with CyberTradePro? Want to drop the futures... fine some us will deal with it. Why screw up a good thing? If you want to drop anything from the platform and functionality drop the stupid weak arse backtesting as it is in the current form and keep the rest.

JMHO... If you don't you might as well come clean now so we can start moving our accounts to a broker that actually tends to the active trader.

Limitations on pre-post market transactions will be unacceptable if changed from the current Cyber regulations.

P.S. The ability to only open 6 charts in SSP will not cut it period! Anything less than the current 20 charts in Cyber will be unexceptable!


Quit giving us weak B.S. and give it to us straight up! We will either stay or leave wether its now or later.

Figure out your toe touching the bath water strategy and get on with it. Give it to us straight and we will give it back to you straight and we can all move on or you can adapt!

Orignally Cyber peeps there is no love loss here, we know you control is limited.


This concludes my thoughts on the scenario I encourage others to chime in with there thought wether against or for my statements.
 
I agree totally. The backtesting feature is weak and, if something had to go, that would be the obvious choice.

I also found the reference to order types puzzling. Does this guy even understand what direct access is? I have a fear that they intend to limit us to some lame schwab smart routing.

Charting, ditto. Deal breaker for sure if they cut that back or lose functionality.

In sum, this whole exercise is a puzzling display of corporate incompetence.
 
Quote from AAAintheBeltway:

I agree totally. The backtesting feature is weak and, if something had to go, that would be the obvious choice.

I also found the reference to order types puzzling. Does this guy even understand what direct access is? I have a fear that they intend to limit us to some lame schwab smart routing.

Charting, ditto. Deal breaker for sure if they cut that back or lose functionality.

In sum, this whole exercise is a puzzling display of corporate incompetence.
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I here you 100%

The ability to make a good/great platform the premeir of traders and we get all this squash. These guys need to step and realise, Unfortunatley I have little faith in it happening.

Hey Schwab why not buy out ensign and impliment the charting capabilty and watch your deposits grow like mad? Have you not learned anything from the 2001 bubble? Why not have the best of both worlds???

Just try to grasp a clue from Cyber's slogan. "There are traders then there are Cyber Traders" Best of both worlds?
 
so you think they care about us?
they will do everything and anything to get ALL our money!
CHUCK DOES NOT WANT A MORE EFFICIENT PLATFORM FOR US-we take money out of their market, away from chuck and all his friends-all the other big boys!
they do not want us to be equals! they want our money from failed trading= more trading trying to get back what we lost to their ...
DUMP ROUTING
limited ordering capabilities
afterhours/premarket conditions
&
no access to short shares when they are most needed=
HANDICAPPED TRADING!!!!!!!!!!!!!!!!!!!
FAILED DAY TRADING!!!!!!!!!!!!!!!!!!!!
ELIMINATION OF FAIR SCALPING/SEVERLY LIMITED SCALPING CAPABILITIES!!!!!!!!!!!!!!!!!!!!!!!!!!!
successful daytraders are a blight to the brokerage houses
dump routing means the market makers in the brokerage houses can trace/keeptrack of your orders now and really move a stock contrary to trading sentiment-even though sentiment is aligned with market!
they are increasing the odds! in the house's favor!
this is the same shite Scottrade suffers from as well as others
the market is rigged! believe it there are millions who would agree, do not be blind to the greed of the beast!

they do not give a rats behind-they are eliminating a competitor CT has sold out!
big question is who has the platform that does what CT does???
they will get the traders business!
 
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