Comments on: Schwab Doesn’t Want Former CyberTrader Clients — I Need a New Broker… http://tradermike.net/2007/12/schwab_doesnt_want_former_cybertrader_clients_--_i_need_a_new_broker/ Stock market commentary & trading ideas. Stock market weblog (blog), swing trading, day trading, stock picks, technical analysis, stock charts, stocks. Mon, 06 Oct 2008 20:07:16 +0000 http://wordpress.org/?v=2.6.2 By: Ronald Fisher http://tradermike.net/2007/12/schwab_doesnt_want_former_cybertrader_clients_--_i_need_a_new_broker/#comment-8872 Ronald Fisher Fri, 28 Dec 2007 16:46:40 +0000 http://tradermike.net/2007/12/schwab_doesnt_want_former_cybertrader_clients_--_i_need_a_new_broker/#comment-8872 I stumbled onto this site because I have been using and having problems with Streetsmart Pro for a year now. I have call numerous times to complain about errors in prices, quotes not being updated, etc. The Schwab staff is always curtious, but they never have an explanation or solution for the problem. I would highly recommend evaluating Schwab before committing. Ron I stumbled onto this site because I have been using and having problems with Streetsmart Pro for a year now. I have call numerous times to complain about errors in prices, quotes not being updated, etc. The Schwab staff is always curtious, but they never have an explanation or solution for the problem.
I would highly recommend evaluating Schwab before committing.
Ron

]]> By: downtowntrader http://tradermike.net/2007/12/schwab_doesnt_want_former_cybertrader_clients_--_i_need_a_new_broker/#comment-8858 downtowntrader Mon, 24 Dec 2007 17:32:09 +0000 http://tradermike.net/2007/12/schwab_doesnt_want_former_cybertrader_clients_--_i_need_a_new_broker/#comment-8858 MM, Yes, that is what I was talking about. I had spoken with a Tradestation rep a while ago and they told me any triggers or alerts were stored on your local pc. I use these triggers in a couple of ways. If price hits a certain target then I can "close" a position. I can then add or reduce to my position while leaving a close all stop in place. I can set these triggers as a fixed price or by trailing it. In either case though, the distinction is that these triggers are held on the servers, and are not live orders. If Tradestation can do this then I would reconsider moving to them because of how strong their backtesting and automation tools are. Thanks for the info. Joey MM,
Yes, that is what I was talking about. I had spoken with a Tradestation rep a while ago and they told me any triggers or alerts were stored on your local pc. I use these triggers in a couple of ways. If price hits a certain target then I can “close” a position. I can then add or reduce to my position while leaving a close all stop in place. I can set these triggers as a fixed price or by trailing it. In either case though, the distinction is that these triggers are held on the servers, and are not live orders. If Tradestation can do this then I would reconsider moving to them because of how strong their backtesting and automation tools are. Thanks for the info.

Joey

]]> By: MarketMonk http://tradermike.net/2007/12/schwab_doesnt_want_former_cybertrader_clients_--_i_need_a_new_broker/#comment-8856 MarketMonk Sun, 23 Dec 2007 09:23:51 +0000 http://tradermike.net/2007/12/schwab_doesnt_want_former_cybertrader_clients_--_i_need_a_new_broker/#comment-8856 Joey, Tradestation does offer activation rules (price hits target and then submits order) which are server side (not PC side). Is this the type of alert that you are referring to? I think of this as being a trigger, not an alert. An alert to me is when you want to be notified of a situation (news, signal line crossing below MACD, price dropping below 50 dma, etc.). MM Joey,

Tradestation does offer activation rules (price hits target and then submits order) which are server side (not PC side). Is this the type of alert that you are referring to? I think of this as being a trigger, not an alert. An alert to me is when you want to be notified of a situation (news, signal line crossing below MACD, price dropping below 50 dma, etc.).

MM

]]> By: MarketMonk http://tradermike.net/2007/12/schwab_doesnt_want_former_cybertrader_clients_--_i_need_a_new_broker/#comment-8855 MarketMonk Sun, 23 Dec 2007 09:00:38 +0000 http://tradermike.net/2007/12/schwab_doesnt_want_former_cybertrader_clients_--_i_need_a_new_broker/#comment-8855 Mike, In regards to TradeStation, orders are held on their server (buy orders, sell orders, stops loss orders, etc.). Alerts are on your own PC. Just wanted to clarify this rather big distinction. Mike, In regards to TradeStation, orders are held on their server (buy orders, sell orders, stops loss orders, etc.). Alerts are on your own PC. Just wanted to clarify this rather big distinction.

]]> By: Richard Mackey http://tradermike.net/2007/12/schwab_doesnt_want_former_cybertrader_clients_--_i_need_a_new_broker/#comment-8841 Richard Mackey Wed, 19 Dec 2007 11:23:57 +0000 http://tradermike.net/2007/12/schwab_doesnt_want_former_cybertrader_clients_--_i_need_a_new_broker/#comment-8841 There is a great broker that allows daytrading with only $2500 and 10x trading power, they are called Prodigy Trading their comision is 8/per trade. They use a java based platform called OmniPro check them out contact Keith very helpful. There is a great broker that allows daytrading with only $2500 and 10x trading power, they are called Prodigy Trading their comision is 8/per trade. They use a java based platform called OmniPro check them out contact Keith very helpful.

]]> By: Keith Shepard http://tradermike.net/2007/12/schwab_doesnt_want_former_cybertrader_clients_--_i_need_a_new_broker/#comment-8839 Keith Shepard Wed, 19 Dec 2007 03:01:43 +0000 http://tradermike.net/2007/12/schwab_doesnt_want_former_cybertrader_clients_--_i_need_a_new_broker/#comment-8839 Of course, here I rag on StreetSmart Pro and they put out an upgrade (end of November) that addresses some of my issues (namely, Tick charts, Put/Call Ratio): --- StreetSmart Pro 4.16 new features include: * Tick Chart – Charting by trading activity * Dynamic Ticker - Offers insight into stock activity by ECN * Put/Call Ratios – Displays the ratio of puts to calls in watch lists and the Trading window * Cost Basis – Real-time cost basis calculated intraday. For most accounts, it includes access to lot level information * Message Center – Offers access to non-urgent messages from Schwab, such as regulatory, service and product information * Trading Entry - Includes Hot Keys, Trading Window display changes, an Order Quantity tab * Enhanced Conditional Order Settings – Additional variables for triggering orders * Bracket Orders - Automate your risk management * Trailing Stops for Single Leg Option - Set for existing positions * "Close All" Button Added - Quickly close out a position * Additional Order Selection - Improve your workflow * Gain/Loss Calculations for Options - Displays max gain and loss * Warning Added for Adjusted Options - Alerts you to actual valuations * Schwab Equity Ratings® - Incorporated into StreetSmart Pro --- Of course, here I rag on StreetSmart Pro and they put out an upgrade (end of November) that addresses some of my issues (namely, Tick charts, Put/Call Ratio):

—
StreetSmart Pro 4.16 new features include:

* Tick Chart – Charting by trading activity
* Dynamic Ticker - Offers insight into stock activity by ECN
* Put/Call Ratios – Displays the ratio of puts to calls in watch lists and the Trading window
* Cost Basis – Real-time cost basis calculated intraday. For most accounts, it includes access to lot level information

* Message Center – Offers access to non-urgent messages from Schwab, such as regulatory, service and product information
* Trading Entry - Includes Hot Keys, Trading Window display changes, an Order Quantity tab
* Enhanced Conditional Order Settings – Additional variables for triggering orders
* Bracket Orders - Automate your risk management

* Trailing Stops for Single Leg Option - Set for existing positions
* “Close All” Button Added - Quickly close out a position
* Additional Order Selection - Improve your workflow

* Gain/Loss Calculations for Options - Displays max gain and loss
* Warning Added for Adjusted Options - Alerts you to actual valuations
* Schwab Equity Ratings® - Incorporated into StreetSmart Pro
—

]]> By: Fausto Pugliese http://tradermike.net/2007/12/schwab_doesnt_want_former_cybertrader_clients_--_i_need_a_new_broker/#comment-8834 Fausto Pugliese Tue, 18 Dec 2007 11:08:28 +0000 http://tradermike.net/2007/12/schwab_doesnt_want_former_cybertrader_clients_--_i_need_a_new_broker/#comment-8834 If you would like to try a good software, try a demo of this level II software. It has alot of what you need to trade. I have been using it for my school for about 10 years. my traders love it. http://www.cybertradinguniversity.com/Page.asp?ID=500 If you would like to try a good software, try a demo of this level II software. It has alot of what you need to trade. I have been using it for my school for about 10 years. my traders love it.
http://www.cybertradinguniversity.com/Page.asp?ID=500

]]> By: JW http://tradermike.net/2007/12/schwab_doesnt_want_former_cybertrader_clients_--_i_need_a_new_broker/#comment-8832 JW Tue, 18 Dec 2007 00:46:31 +0000 http://tradermike.net/2007/12/schwab_doesnt_want_former_cybertrader_clients_--_i_need_a_new_broker/#comment-8832 Anyone has experiences with Zecco, the zero commission offering? Anyone has experiences with Zecco, the zero commission offering?

]]> By: Daniel http://tradermike.net/2007/12/schwab_doesnt_want_former_cybertrader_clients_--_i_need_a_new_broker/#comment-8829 Daniel Mon, 17 Dec 2007 07:07:55 +0000 http://tradermike.net/2007/12/schwab_doesnt_want_former_cybertrader_clients_--_i_need_a_new_broker/#comment-8829 I am going through cyber withdrwal unbeleiveable what they have done to us . Tradestation I am going back to 5000 shares andd platform free . 50% off on commisions for 3 months to former cyber clients. Orders and alerts are held on there servers. Ach transfers . cyber pricing on per share priceing roboust charting revamped customer service. National road shows on platform usage and strageies. Streetsmart pro does not even update your account until 15 minutes Icould go on and on I am switching tomorrow also fills at ts were better for me then cyber. I am going through cyber withdrwal unbeleiveable what they have done to us . Tradestation I am going back to 5000 shares andd platform free . 50% off on commisions for 3 months to former cyber clients. Orders and alerts are held on there servers. Ach transfers . cyber pricing on per share priceing roboust charting revamped customer service. National road shows on platform usage and strageies. Streetsmart pro does not even update your account until 15 minutes Icould go on and on I am switching tomorrow also fills at ts were better for me then cyber.

]]> By: HighProbabilityTrader http://tradermike.net/2007/12/schwab_doesnt_want_former_cybertrader_clients_--_i_need_a_new_broker/#comment-8828 HighProbabilityTrader Mon, 17 Dec 2007 05:26:15 +0000 http://tradermike.net/2007/12/schwab_doesnt_want_former_cybertrader_clients_--_i_need_a_new_broker/#comment-8828 Mike, I've been using IB for last 2 years. Rarely have problems, and when I do they are fixed quick. Customer Support is pretty quick. Using Quotetracker with IB is awesome. With tradestation you can't get tick charts, and no interest on cash, and they have a ton of fees. With IB and Quotetracker, fees are pretty much zero, and commissions are great thru IB. With quotetracker there is a 10 day backfill for tick charts max on the registered version, and customer support is excellent. I tried Tradestation charts and like QT's 10x more because you can resize your charts and switch indicators and time frames very quickly. IB charts are OK if you trade 30/60min time frames. Mike,
I’ve been using IB for last 2 years. Rarely have problems, and when I do they are fixed quick. Customer Support is pretty quick. Using Quotetracker with IB is awesome. With tradestation you can’t get tick charts, and no interest on cash, and they have a ton of fees. With IB and Quotetracker, fees are pretty much zero, and commissions are great thru IB. With quotetracker there is a 10 day backfill for tick charts max on the registered version, and customer support is excellent. I tried Tradestation charts and like QT’s 10x more because you can resize your charts and switch indicators and time frames very quickly. IB charts are OK if you trade 30/60min time frames.

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