|
PureBytes Links
Trading Reference Links
|
>From: "L. Davis" <lor.jay@xxxxxxxxxxx>
>To: "OmegaUserGroup" <omega-list@xxxxxxxxxx>
>Subject: Using 6.0 for e-mini executions
>Date: Sat, 29 Jun 2002 13:22:15 -0400
>
>I use PFG Best for e-mini execution. As an alternative to Best, I was
>wondering if anyone has used the Tradestation order execution for intraday
>e-min execution.
>
>Do you experience any delay at all on fills for market orders?
Not if all systems are working. Its a second or two. Sometimes the TOPS
systems that transmits trades goes down and orders are manually handled.
You have to put a stop in with your order, as you can be offline for 20
minutes. Their phone backup has been very accessable. TS's futures screens
are browser based and not integrated directly into TS. The browser based
screen is inherently slower than TS stocks, plus it always asks to create an
order, send an order, confirm the order, then close the order window. That
can be 5 browser based screens transfers. I've found that to make any
trades in a fast market you have to use the "parked order" feature, create a
market order and a second wide stop order, and then wait with the mouse on
the "submit order" button. This will give a 1 second trade when the order is
submitted. I end up cancelling and redoing this goofy "order setup"
scenario constantly all day.
>Is the cancel and replace order easy?
Yes, but if the market is moving fast and you lock the market by putting in
a stop that has already passed, your order goes into a strange limbo, where
it doesn't fill and you can't delete it either. It ususally gets
automatically cancelled at some mysterious time later. You have to enter a
new stop and hope the first order does get cancelled. Its very
unpredictable. Its so disconcerting, I always put a stop at least 3 tics
away.
>How is the reporting on fills...on line?
You can set a preference for pop up confirms which take 10 seconds or so. Or
you can enter a "confirm fills" button that will give an instant confirm.
All orders, fills, and cancel/replaces are available on-line.
>Is the order desk available immediately if the on-line system goes down?
Its been very accessable, but if the Tops system is down, they can't enter
orders either, so you have to put a stop in with your original order or you
can be toast.
>Does the on-line brokerage experience much downtime?
Seems to be at least once a week for 20 minutes or so - random of course.
>What are the round trip fee?>
Its on the TS site.
Any other feedback would be helpful.
Direct integration into TS would be a lot nicer. Going through 4 systems
gives a lot of points for failure.
Mike Foreman
Denver
|