open discussion with EFX Group president, Mr. Jon Floyd

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Userisme
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Postby Userisme » Fri Jan 05, 2007 3:52 pm

Thanks - Michal, I appreciate the explanation.

ETUser

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Postby TheRumpledOne » Sat Jan 06, 2007 5:11 am

You are under the assumption that FOREX trades like stocks - one price at a time.

The banks that broker A deals with may not be all the same as the banks broker B deals with so, broker A has one quote and broker B's quote may be 1 or 2 pips different.

When I trade FOREX, I sometimes look at TradeStation, EFX, Prophet.net and eSignal. Seeing the differences change can be a tip to the direction of the next move.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

Please do NOT PM me with trading or coding questions, post them in a thread.

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Postby Userisme » Sat Jan 06, 2007 4:15 pm

Yes Avery, I did note your comment June 28, 06 about broker price differences indicating a possble trend direction. However, I like to enter trades in the evening with GTC's etc so I'm not too bothered about direction by the pip/minute. I am in awe of those people who have the stamina to sit looking at the goggle-box for hours - but I can't. I realise that, as Mr. Floyd said, there's no such thing as cost free trading. However, as someone else in the forum said, trading costs can really add up so I do like to keep an eye on them.

I did have a demo account with a Swiss company and their prices and spreads were usually exactly the same as EFX's. Now we have a few months experience of of the EFX Group can anyone else weigh in with their experiences regarding relative costs?

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Postby Userisme » Wed Jan 31, 2007 4:54 pm

I just found out that EFX don't have OCO orders. Is that peculiar to EFX or general to the forex market?

Thanks in advance,

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Postby Patch » Sun Mar 11, 2007 3:32 am

Hi Jon Floyd

I am sorry I didn't meet you this past Wednesday morning. I was in AZ for the Trading Pirate's Meeting and came by your office in Scottsdale and met Phil and Ryan -- two great guys. I will be back for the next gathering of The Trading Pirates I hope in the next 3 or 6 months.

Jeff in VA
Proud TRO Pirate
ENOUGH being a Yalie for me Back to the Sea. "What i can lose, i can win" "YES YOU CAN" - dragon33 -"Pick one method and one pair and stick with them until you master it. "The choice is yours - success or failure." TRO

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MBT / EFX feeds integrated in NeoTicker?

Postby TheLonelyTrader » Mon Mar 12, 2007 1:22 am

I have a few questions for Mr. Floyd and any others who would care to comment (TRO?):

(1) Can I integrate two or more seperate feeds for my futures broker and my FX spot broker in one version of NeoTicker? (I haven't heard from NeoTicker and it's been awhile since my last email to them.) For example, let's say I wanted to merge IB futures data, MBT stock data, and EFX spot FX data into NeoTicker...or let's say I wanted to use eSignal stock and futures quotes and EFX spot FX quotes on one version of Neoticker. Is this possible? And can I see them streaming simultaneously, without having to log out of my futures account and then log into my FX account to see my FX quotes?

This kind of functionality is important if one trades across asset classes. IB's universal account offers this possibility, but of course their FX spot execution and transaction costs are not very competitive.

(2) Why not just open an account with MB Trading and trade futures and FX on their own Navigator platform? After all, it uses the same order routing technology and offers the same FX feed.

(3) Are there any plans to truly offer one platform for all offered asset classes in the near future? This makes sense for both the business and the customer. Currently IB offers this kind of account, but as you must know, their customer support and execution are not the best even for a discount broker. MB Trading requires traders to open two seperate accounts for stocks/futures and for spot FX. And forget Thinkorswim. They don't even offer FX spot instruments.

If I'm running automated trading for both futures and FX, I would currently have to run two seperate platforms simultaneously, one for futures and one for FX spot. In my opinion, this doesn't make any sense at all. Not for anyone.

Integrating with powerful charting packages was a big step in the right direction. Allowing an open API was, duh!, a great business decision. (Why other brokers don't get this, I will never understand.) But the icing on the cake would be a universal account/platform/feed, from which all offered asset classes could be traded and with the same cost structure and commitment to customer service as currently exists with MB Trading. The cherry on top would be server side automated trading!

So is that what Project Omega is? If not, it should be.

I'd really like to join EFX Group. I love your platform, your business model, and the friendly attitude of your staff -- but for now, it just doesn't make sense because instead of streamlining my own operations, I would have to make them more complicated. If I traded spot FX exclusively, I would join up with no questions asked.

If someone has any ideas about how I can streamline automated trading systems for three asset classes through NeoTicker from two seperate brokers, I would love to hear them! (Without having to resort to using NinjaTrader...) I currently use two brokers, two trading platforms, and two charting packages. I'm not a system developer like so many here, so for me it is just plain inefficient.

help...

Mr. Floyd, any ideas? And thanks in advance for your patience with my ranting.

Cheers

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Re: MBT / EFX feeds integrated in NeoTicker?

Postby michal.kreslik » Mon Mar 12, 2007 4:23 am

TheLonelyTrader wrote:I have a few questions for Mr. Floyd and any others who would care to comment (TRO?):

(1) Can I integrate two or more seperate feeds for my futures broker and my FX spot broker in one version of NeoTicker? (I haven't heard from NeoTicker and it's been awhile since my last email to them.) For example, let's say I wanted to merge IB futures data, MBT stock data, and EFX spot FX data into NeoTicker...or let's say I wanted to use eSignal stock and futures quotes and EFX spot FX quotes on one version of Neoticker. Is this possible? And can I see them streaming simultaneously, without having to log out of my futures account and then log into my FX account to see my FX quotes?


It actually depends on what your broker is going to let you do. NeoTicker doesn't restrict you, but rather your broker does. If you broker allows you to trade futures, forex, commodities and stocks out of one account, so does NeoTicker. It will connect to your broker and you will be able to chart / trade all of these securities at once.

But you can't connect to more than one order interface with NeoTicker right now. You have to run NeoTicker on different computers to connect to different data feeds.

Good news is, though, that Tickquest is already working on this as this functionality has been requested by its users. Go ahead and cast your vote on the importance of this feature on NeoTicker forums. Anyway, adding such a feature is a very complex task. For example, how do you handle orders for the same security if more than one order interface allows you to trade it? Which order interface is used for building the tick cache for a particular symbol? Etc.

TheLonelyTrader wrote:The cherry on top would be server side automated trading!


That would be cool.

TheLonelyTrader wrote:So is that what Project Omega is? If not, it should be.


Projet Omega? I hope it doesn't have anything in common with Tradestation (Omega research). :)

TheLonelyTrader wrote:If someone has any ideas about how I can streamline automated trading systems for three asset classes through NeoTicker from two seperate brokers, I would love to hear them!


Here's an idea on how to do that right now: write or let someone write for you an order interface for NeoTicker that would connect to two brokers at once. That can be done provided those brokers offer their API.

Michal

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Re: MBT / EFX feeds integrated in NeoTicker?

Postby TheLonelyTrader » Mon Mar 12, 2007 5:30 am

michal.kreslik wrote:
Here's an idea on how to do that right now: write or let someone write for you an order interface for NeoTicker that would connect to two brokers at once. That can be done provided those brokers offer their API.

Michal


Or maybe just give into the dark side and use NinjaTrader...ugh...but then I have an OCO problem with EFX Group.

Thanks for the food for thought.

TLT

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Postby Patch » Mon Mar 12, 2007 11:01 am

TLT

Hey where are you waking up this morning, Monterey, Cairo, or DC?
How is your trading?
Is that a BWM you are on?

Jeff in VA
ENOUGH being a Yalie for me Back to the Sea. "What i can lose, i can win" "YES YOU CAN" - dragon33 -"Pick one method and one pair and stick with them until you master it. "The choice is yours - success or failure." TRO

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Postby TheLonelyTrader » Mon Mar 12, 2007 7:27 pm

flash9911 wrote:TLT

Hey where are you waking up this morning, Monterey, Cairo, or DC?
How is your trading?
Is that a BWM you are on?

Jeff in VA


Hey Jeff, at risk of going off-topic, I'm waking up in Monterey until May, when I head back to Cairo for a year. Then back to DC for awhile. I'm riding an R1200RT -- my favorite bike in the whole world -- except for the K1200GT...with the R1200GS Adventure close behind.

Trading is okay. It's the hardest thing I've ever done. Just got profitable two years ago, but it's dicey. I'm six years into it and wondering when it will get easier...blood, sweat and tears notwithstanding. My goal is to be self-sustaining in another 5 to 10 years without having to give up my dream job in the meantime.

Any ideas how I can do that? And can NeoTicker and MBT/EFX get me there? I have a lot of hopes for algorithm trading, but I dunno....

Cheers

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