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Strategies & Market Trends : Bonds, Currencies, Commodities and Index Futures

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To: Chris who wrote (2300)	1/13/2002 12:01:30 PM
From: Michael Watkins	Read Replies (1) of 12411

You should probably also check out the demo and references from interactivebrokers.com clients. While I don't generally use market to enter, I don't think my fills / fill reports on such orders are less than a second or two from the time I press transmit. For entry, I almost always employ a Stop Limit order, with both price values set to the same price (protection against the occasional 'death spike' which happens from time to time on the emini). Rarely am I not filled, especially since the liquidity has been excellent for some time now. I trade a maximum of 4-5 contracts and as few as 1 if the setup is a lower percentage (but higher reward) setup. When the market is really moving I can be found taking scalps from the trend off 1M charts and I feel that IB is fast enough, in fact, I can't imagine anything faster. When price moves to my stop limit order I hear the fill confirmation within a second. There seems to be little or no lag between observation of price from eSignal and in the order entry window. In fact, when in a trade, I use IB as my backup price monitor. Regarding speed of entering orders, there is a demo interface I believe on their site - its Java based and has been continually refined over the years and once used to it, most find it quite efficient. If you trade the same size all the time, its three clicks to transmit a stop limit order. Click and hold on bid or ask and drag price to what you want; if you want something other than LMT, click and drag on order type to STOP LMT (will automatically set limit price to stop price by default), click transmit. You can also specify user-defined short cut keys for many functions. I used to not use the mouse at all but the new interface (been out for some time now) makes it efficient and now I do. FYI no affiliation etc, just pleased. ps Subject 32122 check the IB thread here, there are probably people who have used your existing broker and IB for a direct comparison.

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