Trading platform for fast order execution?

[Horsepower]

Hello,

I'm trading futures (mainly ES) and I'm now working with Interactive Brokers.

But I'm not satisfied with the speed of order execution at IB.
It happens that the price hits my entry target, but I don't get a fill of my order.
And then price runs away without execution of my order.

Has someone the same experience with IB ?
And someone suggestions for another trading platform ?

Thanks.

Regards.

 

[timsk]

Hi Horsepower,
Welcome to T2W.
I'm in the process of looking around at the alternatives myself and, the high end platforms in terms of speed and reliability etc. appear to me to be CQG Trader and X_TRADER. The latter tends to be pricey, over USD$600 per month with some brokers. Viz a viz brokers - take your pick - there's enough of em'! What I can say is that without exception, after some haggling, I've been offered a better rate than the one first offered or advertised. Of all the ones I've had dealings with thus far, the one that impresses the most is Infinity Futures who provide their own bespoke trading platform. Their customers talk about them with the same zeal and enthusiasm as Mac users do about Apple - which is a good sign. Also worth a mention are Global Futures who are helpful, offer good rates and offer X_TRADER. I must stress that I'm not (yet) a customer of either company and that these are all first impressions - and we all know how reliable they can be! You can check out other brokers in the Reviews section of the site.

Good luck with your search.
Tim.

 

[A Dashing Blade]

. . .
It happens that the price hits my entry target, but I don't get a fill of my order.

It's gonna depend on your place in the queue, almost certainly with IB you're gonna be at the end.

And then price runs away without execution of my order.

Not every time surely?

 

[Horsepower]

@timsk & A Dashing Blade : thanks for your replies

It is very frustrating when an order don't get a fill when price hits your entry price.
Also when I trade with multiple future contracts (ES) I try to find an exit with half the position at 1 point above my entry (if long position of source). Then I can place my break-even-stop 1 point below my entry fo the rest of the position. But it sometimes happens that price hits my first exit without execution, and then you have a problem when price comes back to your enrty point.

That's why I search for an alternative for IB ...

 

[BSD]

Another lightning fast platform is ninjatrader provided it's data fed by zen-fire.

Unfiltered tick data, great customisable charts, trading out of charts, etc.

Eg Mirus and Amp futures offer that solution and clear through your choice of Dorman or Rosenthal.

Introducing NinjaTrader powered by Zen-Fire Trading Engine!

The Data and Order Routing Engine is co-located with the exchanges and core Internet carriers at one of the premier data centers in Chicago. This provides the network capacity to provide the maximum bandwidth, speed and reliability needed by all types of traders and institutions. The engine was built to support as much data as the exchanges can distribute and route orders in less than 100 milliseconds. Over 18 major Internet carriers are used to ensure network availability when individual Internet carriers fail.

All hardware and network components were built with redundant backups configured to fail-over seamlessly in the event of hardware failure. Load balancing and scalability was a key design component resulting in a system that can accommodate 1,000's of users without issue.

The first traders to get on the system were market makers and black box traders that scrutinize the speed down to the milliseconds. After monitoring the system for over a year, a trading platform (NinjaTrader) was written to the engine in order to allow screen traders access to the same market data and order routing engine used by those professionals.

Features now include new compression techniques and technologies used to distribute the data across IP networks specifically geared toward remote connectivity (i.e. Internet connections) and an institutional grade order-routing engine shaving milliseconds off order entry and modification. Coupled with the NinjaTrader platform that offers advanced order entry types (automated brackets, trailing stops, chart trading, etc) and 24 hour network and IT monitoring, the end result is product now known as Zen-Fire.
http://www.ampfutures.com/zen_fire.html

Lol I'm actually with Miris but like amps summary better !

 

[BSD]

Good read about Harris Brumfield who made 250 million as a floor and later electronic EUREX trader, earned another 300 million as largest investor in a medical startup run by his brother when they sold that, and bought trading technologies, the guys making X-trader.

http://www.tradingtechnologies.com/news/050400_TraderMonthly.pdf

Not bad going eh.

 

[matrix777]

Hi Folks, this is my 1st post but have been a random reader/visitor for a while now.

Back on track, I myself have started an application with IB and kinda feel worried abit about things like Horsepower is saying. Bit of a concern really.

I plan to initially trade Australian Stocks and span outwards into other instruments.

Would the issue with execution with IB have anything to do with TWS or is it to do with their own system?

Meaning, I notice that you can also use Nina Trader or eSignal to trade from the chart with IB, but would that solve anything, or is it because simply that IB infrastructure, order execution technology is lagging behind the 8 ball?

I also came across a YouTube video comparing Zenfire and a few other Data providers to IB and IB's data was also showing up incorrect share sizing. You know, I think that basically answers my own question, but I remain curious to hear the experience of those whom have already walked this path.

Here is a link to my concerns, perhaps it is what the exact problem your are posting about there HP.

Bit of a worry really, but maybe I should just swing trade instead


ps: I never knew the Youtube vid showed up in the post, if this breeches any site rules, then I apologize sincerely and I will remove it without hesitation if required.