To: Richard V Davis who wrote (160 ) 12/21/1999 11:14:00 PM From: JD Read Replies (2) | Respond to of 571
MyTrack did work fine for me this afternoon. Got me in & out of some very fast moving stocks on the NAS. Still remain very concerned about server capacity. System worked fine pre-market, but at opening really slowed down (speed of charts loading, MyTrade being un-responsive to an order entered, and even Chat). I am beginning to wonder (as a shareholder) if you are trying to offer too much (contests, free quote service, various chats / rooms...) for too little (12.95 comm.). As I said in the last post, MyTrack is still the best OLB for OTCBB's (my little "trial account" with you has more than quadrupled in the last 4 weeks) but that makes it all the more frustrating when its not working properly. In response to your last post - yea, I know all about the wild & wacky world of BB's. First, "NasDaq Level II/OTCBB" is the phrase MyTrack uses for the button which shows the OTCBB MM's. And on the trade I was referring to, in my experience it has been very rare for an order under those circumstances (2 or 3 different MM's on the ask, slow but steady trading - one trans posted every few minutes) to not get executed (based on my experience with AB Watley / AMTD). It is much more likely that it just got lost in the "que" at HRZG (since they were not on the ask, someone would have to phone the order over to whoever was on the ask). But the only people who would know for sure are hrzg or nite (whoever MyTrack routed the order to). This situation has happened to me before, and I have had only to call a broker (AMTD), give them my account # and the broker will say "please hold, while I call down to the trading desk". They know that often nite or hrzg just need a "reminder" to work the order. I attempted to do this with whoever answered the phone at MyTrack but they didn't have a clue what to do. It sounded like they could not see the status of my account activity, nor did they understand how to check the trading desk to see if the order was being "worked". I don't expect anyone to go over to hrzg with a ball bat and force them to pick up the phone and work the order - all I know is that at AMTD they know how to call over to nite or hrzg and say "hey, we got a real pain in the butt client who's having a fit over this two bit order.... " But at AMTD, to place an OTCBB order, I've got to go through the 45 sec. process of phoning in the order and verbally confirming it. The traders using MyTrack have already got their confirms (usually) by then! Have you ever thought of a two-tier service? (ala' AMTD with its premier phone # for active traders - 98% answered on first ring). I know that I would be willing to pay a little more to have my intra-day charts load as fast during trading hours as they do at 10:00 PM (and its not a problem with the net - I have a cable modem and my service is slowest at 10:00 PM because of the "gamers"). Most traders, when the opportunity presents itself, will buy on a news flash (splits, big contracts, upgrades...). The best (highest bounce potential) are often relatively obscure issues, and we need to see at least a 3 day x 5 min.chart (for example) before we buy. But when it takes more than 30 seconds for the chart to load - forget it, the train has already left the station!! I just loaded a 3day X 1min. chart on EVIS, and it took about 2 seconds. Today, at about noon, it took 34 seconds!!!!!!!! I think at this stage most of your high volume traders, who have seen the decline in service (example - EVIS chart loading time) would be willing to pay extra for their "own" dedicated server. I suspect that 80% of MyTracks trading volume is coming from the 20% of clients who are the most active traders - and those are the clients you are going to lose if things don't improve. OK, I'll shut up now. I'm sure you've had a hard enough day!! Jerry