Look Out IB!
CyberTrader just put up this page which points to some pretty exciting enhancements on the way for clients on the CyberTrader Pro platform (like yours truly).
I’ve commented quite a bit about CT and their great customer service and particularly their wonderful conditional orders. Well, the coming enhancements will add quite a bit of functionality to the conditional orders topic, particularly #4 on the list.
Needless to say, CT is about to take not only trade management but order management to another level with the coming features, and that means more flexibility for traders which is always a great thing!
I’m really looking forward to this and you can see the list at this page.
Jeff White
President, The Stock Bandit, Inc.
www.TheStockBandit.com
[tags]Stock Trading, CyberTrader, Conditional Alerts, Conditional Orders, Risk Management[/tags]
Patrick | Oct 4, 2006 | Reply
This is great news! The ability to bracket an order based on a percentage or point difference from the entry is exactly what I’m looking for.
I’m assuming that CyberTrader determines the fill price for the primary order and then generates the bracket orders on the fly. Is this true? If so, it would be a huge step up from IB’s bracket which requires you to specify the bracket prices directly.
With CyberTrader’s bracket you could lock in your risk more precisely on market orders, though of course there may be slippage on the stop as well… Anyway, thanks for posting this.
TheStockBandit | Oct 4, 2006 | Reply
Patrick,
Regarding the fill price for the primary order, that will be determined by either you or the market, depending on how you set it up (to my understanding). Either it’s a market order which is filled at the best price once it goes out, or it’s a limit order which you would specify.
Thanks and have a good one!
Jeff
Tyro | Oct 9, 2006 | Reply
Cyber *says* they offer an API but refuse to give it out. Compare this to IB’s API which is rich, simple, well documented, supported, and free! To me, it’s an obvious choice, and I couldn’t be happier since I left Cyber.
I guess it just depends on what kind of trading you do, and what kind of trader you are.
TheStockBandit | Oct 9, 2006 | Reply
Tyro,
That’s interesting because I just had to fill out an API application and was approved in less than a day, so apparently you just didn’t locate the right person.
To each his own though, and the most important thing is trading where you’re confident in the platform. For me that’s with CT. Have a great week!
Jeff