I clicked on "Join Bid" after price has taken out the high of the previous candle (I was long the 6E).
No fill.
So I clicked on AT's DOM 3 times - at a place that's 1 tick above market - 3 times coz each time, my orders didn't get through.
Still nothing happened. It seemed. But I knew all too well what was going on, and I clicked "Cancel All" to make sure that I have indeed no orders pending. The DOM IMMEDIATELY showed "Cancel All Complete":
For some strange reasons, I was only allowed to trade 1 contract today. Given what I saw last Friday, where 6E was completely GONE from my list, this was an improvement. At least I could still trade today!
Anyway, just to see if my order was indeed completely cancelled, I clicked bid way below market price (just so that I will definitely NOT get filled), and I wasn't surprised to see "Position Limit Exceeded" on my DOM and on my trade service log:
That was a confirmation that my previous order was still pending (coz I could trade just ONE contract). It was a good 2 minutes after my last execution and my order was not filled, but not cancelled either, and during this time, price has gone way above where I wanted to enter a long on both the 6E and 6J.
I've had a really nasty experience last Friday, where I entered a TF trade at market at around 1:30pm ET, and my order wasn't filled. So I clicked again, and this time, my order got through, and the AT DOM reflected a "+1". I got a really lousy fill (expected, since I was forced to enter at market after I've experienced too many no fills when I clicked on the DOM - even at 1 tick above where price was trading), and when price turned back down 4 ticks, invalidating my entry, I covered. And I was very surprised to see a "-2" on my DOM, meaning that I had lost 8 ticks on the trade (I was up 6 ticks for the day before this trade). I checked my trade log, and saw that I was actually trading TWO contracts, coz my first entry had actually gone through without my knowledge. The DOM showed a "+1" the whole time.
I wrote to Anthony, and he advised that I install the newest Beta version of AT. I did. And this morning, I was using the newest AT version. And it seemed that my problem got worse. First the contract size limit error (I have near $10k with IF - I know that even if I trade globex hours, I can trade MORE than 1 contract), then the fill problem, and then the misleading "cancel all complete" status.
After hours of patiently waiting for a decent setup, and price had moved enough for me to take my usual scalps, on both instruments I had wanted to trade, and I was TRAPPED OUT BY MY TRADING PLATFORM, I would have raised hell.
But I went to make coffee instead. D wakes up to the smell of homebrewed coffee (D's working from home). Yes, I'm scheming. D jumped out of his bed indeed, and as he was sipping coffee, I told him what happened.
D took a look at the trading log that I never knew how to access. And when he showed me what actually happened, I was NOT PLEASED.
The trading log above showed that my orders were cancelled only 2 sometimes 3 minutes later! Had I not been limited to just 1 contract (thank you, AT???), I would have entered 3 to 4 contracts AT LEAST, without knowing!), thinking that all previous orders were cancelled!D copied an email that he sent to Anthony last Friday, where he highlighted exactly the same problem he faced. Anthony advised installing the new AT version, And that was when D installed it to see if things would improve. He was able to enter by hitting "Join Bid" on Friday.
As I have mentioned, I have been having problems with the AT platform for weeks. And at different times, it gives me different problems. And the problems have gotten more grievous. I have been getting lousy fills getting in and getting out, and I decided to change the way I trade to get around the problem.
I switched to less noisy charts and wait for a more stable setup and timeframe to trade. And I really don't like it when I see price takes off without me, NOT coz I had place a limit at the wrong place, but coz AT doesn't want my business (unless I enter at market and give away 3 to 4 ticks of slippage!).
I am still cool now. But I am not going to put up with this anymore. Last week was filled with lousy executions on good setups and I ended up having to scratch all my trades at lousy fills (I know I was trading within a 2-point range, but it wasn't something I hadn't done before - and 6E's volume was NORMAL - damn, I'm so done with repeating the story!)
The thing is, I'm frustrated that my business being disrupted. I was telling J I am dead serious with what I'm doing, and I have been VERY patient, given that I have by default a very short temper and a very high expectation of the things I use.
Sierra charts gave me a headache over the weekend after I installed the new version. Even my IT guru couldnt' retrieve the data files that I had on the previous versions. He kept going back to the older versions and installing each one of them until he could finally get one that could retrieve my files. At one point I broke into tears and D was shocked. He said he would always be there to help, and asked me not to cry. I told him that was precisely what I didn't want: HELP. I never wanted to fix anything that wasn't broken, and he kept giving me new versions of something that get worse with each version and this time, I lost all my files!
What I still haven't told him til today was that I had gotten really desperate! I can't keep sitting on my hands and give up trading opportunities, and losing money - and sometimes MORE than what I projected I would lose if I laid a bad bet - coz of bad fills and platform faults (telling me that I'm holding one contract instead of two is a fault!). I am aggressive, impatient, ambitious and extremely controlling all at the same time, and all this software issues are really testing my thresholds!
I am writing not to trash Anthony. He has done his best and always prompt in responding. I know it's a TRANSACT issue, and he never once blamed them. I'm very unhappy with TransAct (particularly, the consistently bad fills at market!), and I just want to find out if I am the only one facing all the problems I have mentioned.
I am not even going to give it another week. I am looking for a new trading software and platform (I'll keep Sierra for now, coz I really like the old version!) that allows me to trade SERIOUSLY.
I have asked Lonely for his recommendation, and he's suggested Mirus that's using Zen-fire feeds. I would really appreciate any sharing of experience with TransACT, Zenfire, AT platform (I have used Ninja and don't like it - my coach uses Ninja and IB feeds and loves it - I gather it's coz we trade very differently - he doesn't scalp).
I am not unreasonable - AT's free. But so is IB. IB at least gives me a fill after SECONDS, or outright reject my fills without misleading me, or just kept me logged out forever on a rather regular basis during US session (globex session was fine). But IT DOESN'T MISLEAD ME nor gives me lousy fills! It's actually within one of my considerations now! I'll simply give them the margin they ask for - which I can more than afford, and simply don't understand my folly of going for a $500 margin. Oh yes, I hated their customer service, if there was any to begin with!
So, I'm paying. I am going to pay for a platform that allows me to scalp (for 8 ticks - which I won't even categorize as a scalp - and I really don't want to give away a slippage of 4 ticks for that!), and provides reasonable customer service (a number to call, and someone's actually there to pick up).
I know about TT's X_Trader but I'm looking for something that's less professional for home trading. I'll be using X_Trader in Jan when I join an arcade to trade the Asian market, but I still want to continue to trade the US market from home.
It's 12:47pm now (midnight N.Y.), and I'm wrapping up, with ZERO trades. I am not going in to give away ticks each time anymore. It simply doesn't make any business sense. I am definitely not going to swing trade to accommodate the platform. I scalp. I like it, and I do it well. It is the way I will continue to trade. I simply have to find the tools that allow me to do what I do best PROFITABLY in the long run.
21 comments:
This might help -
For feeds I have used - eSignal, ZF, Barchart, IB and TT.
I have fed them through Ninja, Ensign, Esignal (from eSignal), IB, Tranact, Sierra, Infinity AT and OEC (DOM and charting).
I have tried various combinations, tested them for latency and tick quality.
If you scalp, take unfiltered stuff and feed them through a robust platform.
Unfortunately the answer does not lie with any one fix. Unless you want to use CQG or Photon Trader (Linda Raschke's preferred setup).
Data quality - Both ZF and eSignal are top notch (in some cases I think ZF does better, which was a surprise).
Charting, Ninja is average, but no great shakes - certainly better than Sierra.
You have to try them, bare charts like your anything should do, Ninja should be fine.
Ninja's DOM is excellent, intuitive and simple, clean efficient. Much more robust than the overall package itself.
TT data is filtered, don't bother.
My combination on data+charts is Ensign fed by eSignal. Expensive choice - everything costs but it works. Ensign is quirky, but light, efficient and supremely robust. And it's evolving all the time. Each version simply works. I will not give it up, ever.
For orders, either Ninja DOM or OEC DOM do fine. No complaints on either although sometimes the clearing party connections do matter.
Hope it helps,
S.
Jules,
If your pc have a firewall, DISable it. Also run anti-spy. Try again.
Sandy, TST,
Just saw your comments, and want to drop a quick note to say "thank you". I have to rush out now, and will read your comments in details when I get back.
Again, Thanks so so much guys.
> "Charting, Ninja is average, but no great shakes - certainly better than Sierra."
no it's not. I use them both so I know. Sierrachart also has DOM and trade from chart feature but I can't give opinion on it since I use ninja DOM out of the old habit. Seems like you are loading data from Transact you may want to try loading data from IB instead. The main data supply source for all brokers, the CME changes the way they send data that may also cause some unanticipated problems. Data problem ruined my account so I know how you feel. It is best to have more than one account so that you can have the backup platform helpful in detecting data quality problem. Keep what you have but do not be afraid to try some other platform.
I guess everyone gravitates to what feels comfortable. I have pretty much used only 2 different platforms in 4 years, Trademaven and NinjaTrader. Both offered chart trading and that's how I like to manage my trades. I've never liked the DOM although I'm sure it works for many. I trade using pullbacks and breakouts on the charts so setting ordered and managing them from the chart always seemed straight forward to me.
Sorry to hear about all the issues. I'll have to touch base with Anthony to see what's going on.
I've heard good things about Advantage Futures, but have no direct experience with them. Could check them out as well.
Thank you, Sandy! That's a lot of details! :-) Thank you :-)
My problem is not so much with data feed. It's not charting either. It's the trading platform. The fills. I feel as though I'm being forced to enter at market, and whenever I do, I always lose a few ticks, even when I enter after price has stopped at a level. The consistency of this happening baffles me.
I've used Ninja's DOM and it had the same problem. Who knows, maybe my PC likes only IB LOL!
I have heard good things about eSignal. Will check it out. Time to visit places I usually avoid: forums :-)
OEC sounds familar. I must have seen it on forums. Zenfire is by far the one that's most well liked by those I've come to know for a while now.
I never knew TT uses filtered data! I'm surprise. Since it's used mainly by scalpers.
I'm afraid of changes, Sandy, whenever the computer is involved. I like to use the same trading and charting software, and avoid experimenting. Coz I will freeze when my charts and platform freeze.
But D can certainly explore your suggestions! I'm so glad he's on a long vacation :-)
Thanks again, Sandy, for your help. Lots to work on now :-)
Thank you, TST :-)
I don't think it's the firewall. IB was ok. And AT is ok whenever it suits it. I trade everyday and even when I'm not trading, I stare at the DOM and my charts for most part of the day, and I pick up patterns over a period of time. AT's certainly doing something that I don't understand. And I can't use something that nonplusses me.
Thank you, Cory :-)
Well, I have 2 accounts but I try not to mix them up as I'm tracking results. I stopped using IB when I started trading my IF account. And once I'm used to my IB account, I'll likely stop using IF altogether (don't see any reason to use a tape I can't read, and one that lags by MINUTES when I don't typically stay that long in a trade).
Re Ninja charts - I remember ditching it coz the candle ends where candles on other charts starts (or the other way round, I'm in a confused state now..). Sierra trades in a world of its own too (I know coz I look at others charts - via their blogs), but I've gotten used to that world. As far as charting goes, I don't have big issues, since I rely very heavily on the tape (which is why one that I can't read bothers me so much).
I am VERY AFRAID to try out other platforms. LOL! Seriously, I hate the computer as much as it hates me and I try not to burden it by adding new things. I don't even do downloads these days. If I need anything, D gets it for me via his computer. Coz he knows what he's doing.
You know what, I think maybe I should really trade the old-fashioned way - call up my broker. And hold him on the line for the entire session. LOL!
DT! :-)
Well, I'm just the opposite of you. I don't like trading off the charts coz the lines and filled orders and positions get in the way of my reading of my charts. If I can help it, I don't even want S &R on them but that's ridiculous of course.
I'm a minimalist. I like simplicity and all-in- ones. Most of all, I like simple things that WORK. I will use anything that works and will ditch anything that doesn't - in a heartbeat.
Explains my using of all kinds of timeframes and charts :-) For eg. I like the 5 minutes, but ES on 5-minute is a torture to read. The only way to get it to look like a normal tradable (DAYTRADING) chart is to switch it to a 10946 tick chart. I'm not kidding. At 6765, it's still ugly. :-)
Hi EP!! :-)
No, I'm actually emotionally attached to Anthony and don't want to deal with another broker. That's why I'm using my IB account for now. Will see if Anthony can find me another platform and data feed provider instead but I'm not sure if there are any contractual agreements IF has with Transact.
I've not communicated with him since last Fri. Will probably write him.
You're completing your final year in school, aren't you? Found a trading firm yet?
Jules, I've been with OEC for more than 2 years now. They had some growing pains but things are smooth now. Plus they have a good deal going this month: OEC Rate Deal" Worth checking out.
Yep, last 2 quarters for school; should be wrapped up by March of next year. I've looked into a few trading firms but all of them so far prefer hiring people with no prior trading experience, so that counts me out. I'll just trade my own account once I'm done with school next year.
Yikes, the problem seems fundamentally bad. Worse than Cityindex. Never trust AT again! Don't prey prey with the market.
Hi MBA :-)
Yes, I read about your 3-day pain with OEC sometime back. I was wondering if mine was a similar problem but I can see that it's not.
Yes, I'll run a scan on OEC. Sierra actually links to OEC too.
Thank you for the link! :-)
Hi EP,
strange that they don't want people with experience....I guess it's coz for those without experience, there's nothing to UN-learn (a process that could take longer than learning) :-)
Trading your own money is not too bad a choice I think. All you really need is reliable trading softwares and feeds. Al Brooks for instance, doesn't have sophisticated gadgets but if I remember correctly, he's particular about data feeds (hardly surprising since he scalps too).
Wishing you the best!
:-) Sage! You've been quiet!
Yes, that's precisely what I feel! Being played and preyed on! I don't know for sure if that's the case, but I sure don't like having 4 ticks taken from me when I can see very clearly that when I hit market, price was sitting very leisurely at a place that gives me 6 ticks! Not once, not twice, but almost for every trade. It's never a better price when I get out. There's nothing random about this.
You are running the software on a Mac via an emulator.
This is not supported and I am sure support told you this.
If you attempt to recreate this on a PC I am sure support will be willing to work with you.
Romonoga,
I'm not sure what gives you the idea of me running an emulator on a MAC, and you wrote with such strong conviction! Anyway, I'm sorry that you're mistaken. And I don't have a MAC!
So now the MAC is no longer the thing to blame (as it doesn't exist in this scenario), what's next?
Sandy,
thanks for your list again. I'm now looking up eSignal, Zenfire, OEC and Ensign for feeds and platforms. If platforms are going to cost me, I'll go with IB for the time being. I'm happy to pay for feeds.
I've spent most part of yesterday and in the past few hours doing a search on the topic of conflict of interest within the financial services industry and have found out for the first time things I never knew before. All I can say for now is that my instinct has served me well. I feel the impact becoz of my trading style (in particular, the average duration I stay within a trade, my active trading hours, my profit targets, my order type). For others that do not FEEL affected, good for them. But for me, every tick counts.
Thanks again for your list - very useful :-)
MBA,
just want to thank you again for the info on OEC and for telling me about the OEC Rate Deal. As I was telling Sandy, I'm checking them out.
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