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

Quote from snugglepuppy666:

How would I go about using/setting up an ECN w/ the scwhab software?

Regarding comment 2.. thats exactlywhat I was thinking about doing. I like the charting

thx :)
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I haven't used the existing Schwab platform, so I can't comment on it. I'm sure you will be able to direct to ECNs with the CT/SSP version.
 
Quote from AAAintheBeltway:

I haven't used the existing Schwab platform, so I can't comment on it. I'm sure you will be able to direct to ECNs with the CT/SSP version.
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You can't short through an ECN with SS Pro. You can only short through their MM UBSS.

You can't buy or sell more than 5,000 shares A/H with SS Pro.

As of today the above will apply pre and post integration.

Your suggestion about avoiding UBSS does not work. Even if you buy sell or short through an ECN, UBSS is instantly alerted and will take the opposite side of your trade. If you don't believe me then try to daytrade at CT and experience it for yourself. You may get away with 100 shares but not more than that.
 
Quote from akeyla:

You can't short through an ECN with SS Pro. You can only short through their MM UBSS.

You can't buy or sell more than 5,000 shares A/H with SS Pro.

As of today the above will apply pre and post integration.

Your suggestion about avoiding UBSS does not work. Even if you buy sell or short through an ECN, UBSS is instantly alerted and will take the opposite side of your trade. If you don't believe me then try to daytrade at CT and experience it for yourself. You may get away with 100 shares but not more than that.
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I have been informed that shorting through ECns will be a part of the new platform. It wouldn't be a direct access platform if you couldn't do that.
 
Quote from AAAintheBeltway:

I have been informed that shorting through ECns will be a part of the new platform. It wouldn't be a direct access platform if you couldn't do that.
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I just checked with a rep after reading this and he denies it. According to him they have no plans at present to allow shorting through ECNS. He did say however, that if something like that were to take place everybody would be notified by e-mail. In plain English, it is status quo at present.
Let me say however, that I would be delighted if what you said were to become reality.
 
Its true no direct access shorting is allowed on SSP.

So that means shorting stocks is going to be a complete bitch with the new SSP choke of a platform.

This is the current info, but don't forget no shorting allowed through ECN's.

Venue Availability (Eastern Time)
SmartEx Order Entry Accepted: 4:05 p.m. to 9:15 a.m. and 9:30 a.m. to 4:00 p.m.
--------------------------------------------------------------------------------
Executions Occur: 9:30 a.m. to 4:00 p.m.
ARCA Order Entry & Executions:7:00 a.m. - 8:00 p.m.
BTRD Order Entry & Executions:7:30 a.m. - 6:30 p.m.
NSDQ Order Entry & Executions:7:00 a.m. - 8:00 p.m.
Schwab Pre Market Order Entry Accepted: 8:05 p.m. to 9:15 a.m.
--------------------------------------------------------------------------------
Executions Occur: 8:00 a.m. to 9:15 a.m.
Schwab After Hours Order Entry Accepted: 4:05 p.m. to 8:00 p.m.


What venue/route should I use to place a short order in StreetSmart Pro?

You can place a short order using the SmartEx venue. Please note that available short shares for a stock are not displayed in StreetSmart Pro’s Trading Window, however the order will still be accepted when available shares exist. To determine the number of short shares available before placing an order, you can contact a registered representative via the help window or by phone. StreetSmart Pro does not currently support placing short orders through any of the Direct Access venues. We are currently working to improve this experience, and any future updates will be posted in the Integration Center.

SMARTEX is basically the "UBS" MM.

So the question is... Is SSP a direct access platform?

We lf you consider only being able to go long during normal market ours routing to ecn's, then yes. Otherwise no its not, I got with the later.

With all the shit they did to make this similar they left out the absolute key factors that current CyberTraders were wondering about.

Shorting will be a complete bitch and without having to jump through hoops, the majority of ones orders will route write to a UBS market maker.

What a crock I might as well open an account at Scott Trade or go back to the lame ass Ameritrade peeps.
 
i left CyberTrader and i really miss it. the charts were kinda funky, but the platform was user freindly and fills seemed solid - maybe IB is faster, cant say. on-line customer service was excellent. the data didnt seem to lag & the learning curve to get trading was pretty easy.

IB has its issues, but its probably the best choice.

RML allows 5 routing choices

NITE
TRIM
MNGD (Penson MM)
ARCA
INET

i think with ARCA & INET you pay fees & get rebated. I so even if you get the lowest commish, you still pay more when you take liquidity. also, i dont think they have a smart routing option. think TRIM & NITE are MMs - if so, then 3 of 5 routing choices are to MMs.

Scottrade's data seems to really lag and the fills are laughable "order QUEUED or whatever", but probably pretty good for position trading. i use it as a back-up account.

i opened an account with MasterTrader, but the charts had limited potential - the guys were cool to deal with, but i didnt like teh feel of the set-up. probably just me.

TerraNova's fees were too high for me.

so bottom-line, i'd go back to CT even if they charged a monthly fee.
 
OK, I have gone back to the Cyber rep and tried to confirm about the ECN shorting. Turns out they misled me before. You guys are correct apparently. No shorting through ECN's. What a crock. Not only are they clueless, but now I feel I can't rely on what they have told me. I may still keep the new platform, but only as a charting app. Trading beyond the bare minimum will be directed to a real broker.
 
On further follow up, they claim shorting through ECN's will be added "later." I guess a tiny firm like Schwab just doesn't have the resources to make their platform fully functional from day one. The message here is pretty clear: they don't really want traders as customers. Schwab has a big franchise with the financial planners and independent money managers. They could care less about us. They probably view their competition as ETrade and other online brokers. I doubt their senior execs have even heard of IB, genesis, assent, et al.
 
So are you saying that there is no shorting through ECN's premarket or is that also during the day?


Quote from AAAintheBeltway:

OK, I have gone back to the Cyber rep and tried to confirm about the ECN shorting. Turns out they misled me before. You guys are correct apparently. No shorting through ECN's. What a crock. Not only are they clueless, but now I feel I can't rely on what they have told me. I may still keep the new platform, but only as a charting app. Trading beyond the bare minimum will be directed to a real broker.
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