Comments on: CyberTrader Migration to Schwab: Good Enough or Disaster? http://blog.stocktickr.com/2007/12/12/cybertrader-migration-to-schwab-good-enough-or-disaster/ Improve your trading! Fri, 19 Feb 2010 19:36:43 -0800 http://wordpress.org/?v=2.9.2 hourly 1 By: Dave http://blog.stocktickr.com/2007/12/12/cybertrader-migration-to-schwab-good-enough-or-disaster/comment-page-1/#comment-49723 Dave Mon, 21 Apr 2008 00:22:12 +0000 http://blog.stocktickr.com/2007/12/12/cybertrader-migration-to-schwab-good-enough-or-disaster/#comment-49723 I have switched to Interactive Brokers and have been pleasantly surprised. I really like them. I have switched to Interactive Brokers and have been pleasantly surprised. I really like them.

]]> By: mradair http://blog.stocktickr.com/2007/12/12/cybertrader-migration-to-schwab-good-enough-or-disaster/comment-page-1/#comment-49722 mradair Sun, 20 Apr 2008 23:38:19 +0000 http://blog.stocktickr.com/2007/12/12/cybertrader-migration-to-schwab-good-enough-or-disaster/#comment-49722 having multiple issues with Schwab. What online broker did you switch to? having multiple issues with Schwab. What online broker did you switch to?

]]> By: copocamaro http://blog.stocktickr.com/2007/12/12/cybertrader-migration-to-schwab-good-enough-or-disaster/comment-page-1/#comment-43624 copocamaro Fri, 25 Jan 2008 17:04:06 +0000 http://blog.stocktickr.com/2007/12/12/cybertrader-migration-to-schwab-good-enough-or-disaster/#comment-43624 Time for a class action again them them had me down for 4 weeks not being able to trade because of all there mistakes. I am no longer with them either. Time for a class action again them them had me down for 4 weeks not being able to trade because of all there mistakes. I am no longer with them either.

]]> By: TraderMatt http://blog.stocktickr.com/2007/12/12/cybertrader-migration-to-schwab-good-enough-or-disaster/comment-page-1/#comment-43539 TraderMatt Thu, 24 Jan 2008 22:28:03 +0000 http://blog.stocktickr.com/2007/12/12/cybertrader-migration-to-schwab-good-enough-or-disaster/#comment-43539 It really does appear that Schwab has no interest in the very active or day trader. That’s kind of amazing if you think about it; all the commissions they are giving up. The SSPro platform is very inferior to the CyberTrader plat. In addition to the above I would add the following: When you enter a position there used to be info displayed at the top of the stock box showing you position amount and your entry price. Entry price is no longer displayed. YOU CAN NO LONGER DIRECTLY ROUTE YOUR OPTIONS ORDERS- NO MORE DIRECT ACESS FOR OPTIONS. Options contracts are subject to review! By this I mean that if you send an order in- even a market order it might be delayed and reviewed by a person before execution. Last time this happened to me it took about one and one half minutes to execute 50 contracts in an issue that was trading hundreds of thousands of contracts. It really does appear that Schwab has no interest in the very active or day trader. That’s kind of amazing if you think about it; all the commissions they are giving up. The SSPro platform is very inferior to the CyberTrader plat. In addition to the above I would add the following:

When you enter a position there used to be info displayed at the top of the stock box showing you position amount and your entry price. Entry price is no longer displayed.

YOU CAN NO LONGER DIRECTLY ROUTE YOUR OPTIONS ORDERS- NO MORE DIRECT ACESS FOR OPTIONS.

Options contracts are subject to review! By this I mean that if you send an order in- even a market order it might be delayed and reviewed by a person before execution. Last time this happened to me it took about one and one half minutes to execute 50 contracts in an issue that was trading hundreds of thousands of contracts.

]]> By: Sabajuano http://blog.stocktickr.com/2007/12/12/cybertrader-migration-to-schwab-good-enough-or-disaster/comment-page-1/#comment-37974 Sabajuano Sat, 15 Dec 2007 23:50:53 +0000 http://blog.stocktickr.com/2007/12/12/cybertrader-migration-to-schwab-good-enough-or-disaster/#comment-37974 I was trying to make an alarm to close a short position in AAPL and would not accept it, I looked at the trading window and that showed S:50 and L:100. How come I had a long and a short position at the same time? The position tab did not show the long position, the live help was dead, and I phoned them to ask about it, they suggested me to logoff and logon, by then, the long position was losing 4 points. I still don't know how the long position started (I assume it was a stop order that went overboard) But since I was aware that Cybertrader did not allowed a short and long position at the same time it did not make any sense to me. I am looking for another broker, any suggestions? I was trying to make an alarm to close a short position in AAPL and would not accept it, I looked at the trading window and that showed S:50 and L:100. How come I had a long and a short position at the same time? The position tab did not show the long position, the live help was dead, and I phoned them to ask about it, they suggested me to logoff and logon, by then, the long position was losing 4 points. I still don’t know how the long position started (I assume it was a stop order that went overboard) But since I was aware that Cybertrader did not allowed a short and long position at the same time it did not make any sense to me. I am looking for another broker, any suggestions?

]]> By: bzbtrader http://blog.stocktickr.com/2007/12/12/cybertrader-migration-to-schwab-good-enough-or-disaster/comment-page-1/#comment-37839 bzbtrader Fri, 14 Dec 2007 15:39:32 +0000 http://blog.stocktickr.com/2007/12/12/cybertrader-migration-to-schwab-good-enough-or-disaster/#comment-37839 IMHO. . I've used the Schwab trading platform since 1987 in all it's interations and have used SSPro since it was first rolled out as a trading platform. For hyper traders of stock, SSPro may indeed not be the best choice because of the fees,account update lags,etc. The SSPro Strategy Tester is a complete joke, which is my biggest complaint and there are no linear regression studies, an indicator which I find extremely useful. Many of the data field features are optional and programable and can be turned on and off, which new users may need some burn in time to figure out. I have been a fulltime daytrader for the past 7 years using SSPro. My trading preference is for the QQQQ options, not stocks, and I find the platform, level 2 option quotes, fees, executions and support to be grade A for my needs. I too wish that they had canned SSPro and kept the CT version, if only for the ability to trade futures, but alas, that was not to be. I've spent thousands of hours looking at other platforms and I have yet to find anything better for my particular trading needs. (I do use a 2000i version of TradeStation with a TC2005 datafeed to develop and test trading systems, but that runs on a completely separate computer set up.) IMHO. . I’ve used the Schwab trading platform since 1987 in all it’s interations and have used SSPro since it was first rolled out as a trading platform. For hyper traders of stock, SSPro may indeed not be the best choice because of the fees,account update lags,etc. The SSPro Strategy Tester is a complete joke, which is my biggest complaint and there are no linear regression studies, an indicator which I find extremely useful. Many of the data field features are optional and programable and can be turned on and off, which new users may need some burn in time to figure out. I have been a fulltime daytrader for the past 7 years using SSPro. My trading preference is for the QQQQ options, not stocks, and I find the platform, level 2 option quotes, fees, executions and support to be grade A for my needs. I too wish that they had canned SSPro and kept the CT version, if only for the ability to trade futures, but alas, that was not to be. I’ve spent thousands of hours looking at other platforms and I have yet to find anything better for my particular trading needs. (I do use a 2000i version of TradeStation with a TC2005 datafeed to develop and test trading systems, but that runs on a completely separate computer set up.)

]]> By: Trader Mike http://blog.stocktickr.com/2007/12/12/cybertrader-migration-to-schwab-good-enough-or-disaster/comment-page-1/#comment-37834 Trader Mike Fri, 14 Dec 2007 14:48:46 +0000 http://blog.stocktickr.com/2007/12/12/cybertrader-migration-to-schwab-good-enough-or-disaster/#comment-37834 <strong>Schwab Doesn’t Want Former CyberTrader Clients — I Need a New Broker…...</strong> Like they say, all good things must come to an end. I’ve been with CyberTrader since I started trading full time back in 1999. I can’t even imagine how much I’ve spent in commissions with them. That first year I spent about $30,000... Schwab Doesn’t Want Former CyberTrader Clients — I Need a New Broker……

Like they say, all good things must come to an end. I’ve been with CyberTrader since I started trading full time back in 1999. I can’t even imagine how much I’ve spent in commissions with them. That first year I spent about $30,000…

]]> By: copocamaro http://blog.stocktickr.com/2007/12/12/cybertrader-migration-to-schwab-good-enough-or-disaster/comment-page-1/#comment-37762 copocamaro Thu, 13 Dec 2007 20:05:07 +0000 http://blog.stocktickr.com/2007/12/12/cybertrader-migration-to-schwab-good-enough-or-disaster/#comment-37762 update from schwab anyone with margin trouble is just screwed. we need to start class action on them asap. there costing me couple of k a day not being able to trade. what sucks is there computer system failed and the customer is screwed. the ceo of cybertrader is trying to get this fixed some how, but at this point the damage is done. Best short in town has to be schwab since they will have a large mass exit with kind of crap there pulling. I tried to place order on the phone on tuesday after waiting for 10+ minutes guy answered finally and said can he help me, at that point the trade was done, so i said not anymore after waiting for 10+ minutes. update from schwab anyone with margin trouble is just screwed. we need to start class action on them asap. there costing me couple of k a day not being able to trade. what sucks is there computer system failed and the customer is screwed. the ceo of cybertrader is trying to get this fixed some how, but at this point the damage is done. Best short in town has to be schwab since they will have a large mass exit with kind of crap there pulling. I tried to place order on the phone on tuesday after waiting for 10+ minutes guy answered finally and said can he help me, at that point the trade was done, so i said not anymore after waiting for 10+ minutes.

]]> By: copocamaro http://blog.stocktickr.com/2007/12/12/cybertrader-migration-to-schwab-good-enough-or-disaster/comment-page-1/#comment-37724 copocamaro Thu, 13 Dec 2007 14:50:15 +0000 http://blog.stocktickr.com/2007/12/12/cybertrader-migration-to-schwab-good-enough-or-disaster/#comment-37724 Hello this sucks big time there are no features to stop trades that shouldnt go through. Any one for class action law suite ? they have no stops on margin day trading, these guys suck big time anyone else having this trouble? Hello this sucks big time there are no features to stop trades that shouldnt go through. Any one for class action law suite ? they have no stops on margin day trading, these guys suck big time anyone else having this trouble?

]]> By: Jeff White http://blog.stocktickr.com/2007/12/12/cybertrader-migration-to-schwab-good-enough-or-disaster/comment-page-1/#comment-37645 Jeff White Thu, 13 Dec 2007 04:54:48 +0000 http://blog.stocktickr.com/2007/12/12/cybertrader-migration-to-schwab-good-enough-or-disaster/#comment-37645 I miss CT Pro and don't mind saying it! (That was liberating)! I did learn via phone today that the March SS Pro release is the next one which should address most of these issues, but I won't be waiting around for it. I'm kicking tires around town but will leave my CT/Schwab accounts open (and unfunded) in case I decide to return. For now though, I'm unwilling to endure the platform as-is since I know what I'm missing from CT Pro. Feels like going from a Cadillac to a used Olds 88. Looks similar, but runs very different. I just don't think in its current state that SS Pro is designed for anyone who is day trading. It just so happens that this market at the moment is catering to the shorter timeframes, which is why I am seeking an alternative direct-access broker. There are some good platforms out there, I was just hoping to not have to switch and learn another platform if I could help it! Jeff I miss CT Pro and don’t mind saying it! (That was liberating)! I did learn via phone today that the March SS Pro release is the next one which should address most of these issues, but I won’t be waiting around for it. I’m kicking tires around town but will leave my CT/Schwab accounts open (and unfunded) in case I decide to return.

For now though, I’m unwilling to endure the platform as-is since I know what I’m missing from CT Pro. Feels like going from a Cadillac to a used Olds 88. Looks similar, but runs very different. I just don’t think in its current state that SS Pro is designed for anyone who is day trading.

It just so happens that this market at the moment is catering to the shorter timeframes, which is why I am seeking an alternative direct-access broker. There are some good platforms out there, I was just hoping to not have to switch and learn another platform if I could help it!

Jeff

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