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Showing content with the highest reputation on 10/26/2019 in all areas

  1. 1 point
    Do you enter the trades simultaneously or price bid them against each other? Here's day two's report: 1. On BUD - no difference in the two. I got back into the trade when it was near 107. Entered IB at 5.31 with no fill. Then entered on TW at 5.30, no fill. Bumped TW to 5.31 and got 9/30 contracts filled. Right after those 9 got filled (as in within one second), I got 253/300 contracts filled on IB. After that neither got filled more. I bumped the prices up to 5.33 on both platforms over the next hour but got no further fills. BUD dropped closer to 106 so I cancelled the rest of the orders. I find it VERY odd that 9/30 got filled on TW THEN 253/300 were filled on IB. Clearly they were on different exchanges. Evaluation - TIE; 2. HPQ - exited my 21 straddle from yesterday. STC order on IB at 1.33, no fill. Submitted at 1.34 at TW, no fill. Moved TW to 1.33, then 1.32, where I got a full fill. I immediately moved the IB order to 1.32, but nothing. Took lowering the price to 1.30 to get the order filled. Evaluation - TW; 3. LOW Straddle/Strangle - Entered Straddle on IB at 6.11, no fill. Entered Straddle on TW at 6.10, no fill. Bumped TW to 6.11, nothing. Moved IB to 6.12 got 200/250 contracts filled. Moved TW to 6.12 instantly got 50/50 filled. Within a blink of an eye the rest of the IB order was also filled at 6.12. Evaluation - TIE. HOWEVER, on the strangle side, IB ended up .02 better. Evaluation on strangle -- IB. Today was not near as clear cut as yesterday, wherein TW was better 6/6 times. Today was a clear push. But if we trade on average 10,000 contracts per month, that's a $500 per month difference by staying with TW - at 100,000 contracts it's $5,000.00 (and actually a little more than that with how IB's tier system is working out). That's not a small amount. IB will have to be BETTER, not "close" or a "draw" to stick with them.
  2. 1 point
    I've signed up for a Tastyworks account and have a small balance there trading alongside IB. I did this because their commissions are 1/3 cheaper (.10 vs. .15) on IB, which can make a large difference. Their software is not as intuitive as IB or TOS, but it's not hard to use. Yesterday, I was stunned because I was consistently getting better fills on TW than IB. For instance, on the BUD trade: 1. I entered my order on IB; 2. I then entered by order on TW at a LOWER price (by .02); 3. The TW order filled, the IB did not. This happened to me on BUD, JD, and HPQ. I could not get a full position in HPQ on either platform. I was ready to permanently write off IB. Today has been a little different, as they have each performed almost identically. When I was re-entering BUD, I immediately got a handful of contracts on IB filled, then entered by order on TW at a better price, but got no fills. When I moved it to match the IB price, I also did not get any fills. Over the next 20 minutes or so, I bumped the price up a .01 or .02 - they'd each give me partial fills at the same price. So today, I'd say performance was about even on fills. I'm going to track this for about a month. And yes, it's a pain to trade two platforms.
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