OEC Questions

[Guest forlatte]

Very good resource. Make Home Page!

[brownsfan019 17]

After playing with various trading platforms out there, I have to say OEC Trader is by far the most visually appealing and user-friendly. What's the deal with most of the broker software out there looking like it was written in 1985? I have to give OEC major credit for making such an appealing product with a modern feel.

 

The connectivity issues seem to be the biggest problems plaguing OEC and that's truly a shame because I thought I had finally found the perfect broker for me after falling in love with the software. Seeing as how this thread hasn't been updated since August, connectivity issues have either improved or did everyone leave this broker?

 

Knock on wood, OEC has been running like a champ. I cannot recall the last outage thankfully. And the most recent upgrade really did a lot to their EL editor.

[steve46 12]

I am testing OEC for a retail account (for use in my class)....and it has gone out once this week, two days ago

 

The interruption was momentary...had my connection back in about 10 seconds. Unfortunately those seconds cost me about $1,000....

 

Calling OEC they suggested that they had a record of usage to refer to and it disclosed no (zero, none, null) outages (in other words they denied that it happened at all)....My account says otherwise.....and it is mildly disappointing to run into this problem....(I can easily find another broker although it is a pain in the butt to fill out additional paperwork)...

 

Continuing with my testing for the next 90 days and then I will make a decision whether to keep this account or move to another broker.

[steve46 12]

Another problem today unfortunately, as I got into a profitable trade and tried to scale out (manually) my DOM would not accept input....(when trying to confirm an order to scale out, the confirmation box did not respond to input)....I had to close the program and bring it up again...at this point I simply exited the entire position and called the brokerage and (surprise) they did not have any record of interruption of connection....

 

So not a big deal (this time the position was going in my favor when the problem occurred), but as you can imagine I am a little concerned when it comes to using this software on a regular basis. I have an IT guy coming over this evening to check my system out so that if there are any program conflicts we can sort it out....I will report back when I know more.

[brownsfan019 17]

I am testing OEC for a retail account (for use in my class)....and it has gone out once this week, two days ago

 

The interruption was momentary...had my connection back in about 10 seconds. Unfortunately those seconds cost me about $1,000....

 

Calling OEC they suggested that they had a record of usage to refer to and it disclosed no (zero, none, null) outages (in other words they denied that it happened at all)....My account says otherwise.....and it is mildly disappointing to run into this problem....(I can easily find another broker although it is a pain in the butt to fill out additional paperwork)...

 

Continuing with my testing for the next 90 days and then I will make a decision whether to keep this account or move to another broker.

 

I have not had any outages in a very long time here. There is a possibility it was on your end. Usually when outages take place, ET will light up with complaints and I don't think I've seen any. And their outages are usually result in you being out for minutes or longer, not a few seconds.

 

Another problem today unfortunately, as I got into a profitable trade and tried to scale out (manually) my DOM would not accept input....(when trying to confirm an order to scale out, the confirmation box did not respond to input)....I had to close the program and bring it up again...at this point I simply exited the entire position and called the brokerage and (surprise) they did not have any record of interruption of connection....

 

So not a big deal (this time the position was going in my favor when the problem occurred), but as you can imagine I am a little concerned when it comes to using this software on a regular basis. I have an IT guy coming over this evening to check my system out so that if there are any program conflicts we can sort it out....I will report back when I know more.

 

Steve, did the same problem arise when you tested the software out on demo first? Has this happened before? Do you need the confirmation pop-ups? If not, those can easily be turned off. I haven't used confirmation boxes in years. I'm surprised you would.

 

 

 

If there's a connection issue, ask OEC support to walk you through testing your connections before you trade real $ on it. My ISP awhile back had connection issues with OEC all of a sudden and once we diagnosed that, I changed the DNS in my router and it's been running perfectly since then. In that instance, it was in fact on my side with my ISP.

[steve46 12]

Thanks for your comment. I will report what I find with respect to the continuing interruptions of service...I doubt that it is connected to a systemwide problem

 

With respect to the confirmation popup I am using the software default settings and suggesting my students do the same...to me it doesn't matter either way...

 

As regards the connection issues so far we have no cause & effect to report....

 

Best Regards

Steve

[brownsfan019 17]

Steve - not sure what you mean by 'students', but confirmation boxes are training wheels and nice if you are not sure how to place a buy or sell order, other than that they just get in the way and can cost you or your students money. Not b/c they don't work (I tested mine briefly Fri and was fine) but hitting that extra confirmation when daytrading in these quick moving markets can ensure your losers fill and miss out on winners.

 

But to your questions/issues, I have not been able to replicate them or had any outages in recent memory at all - other than my DNS needing changed.

[steve46 12]

If you take a moment to think about it.....the confirmation box offers several advantages to students (those are folks learning to trade)

Because it takes additional time to use, students using the confirmation box have to anticipate and prepare in advance for a trade. We find that using the confirmation box keeps them from acting preciptiously.

Also when they setup their entry and they see the entry order sitting there ready to be activated, they have a chance to review the data and make sure the setup is right...

Finally I have noticed that students tend to want to take profit prematurely...by taking the time to setup their order to get flat they give themselves a few moments to consider whether it is really time to get out....often the act of taking a moment to reconsider makes all the difference...most of the time they make more money waiting.....

We continue to use the confirmation box as long as if helps students advance their skills.

 

Thanks for your comment.

[brownsfan019 17]

Gotcha, I did not realize you are now in the trading education business. Seems to be the hot thing around here lately.

 

[MightyMouse 12]

Gotcha, I did not realize you are now in the trading education business. Seems to be the hot thing around here lately.

 

 

Brownsfan,

 

Yep all you have to do is make up a bunch of unsubstantiated claims about yourself and start promoting.

 

MM

[Coicah 10]

Brownsfan,

 

Yep all you have to do is make up a bunch of unsubstantiated claims about yourself and start promoting.

 

MM

Thanks. I think I'm going to stop trading now and just cash in on teaching it. Maybe make up for a chunk of my losses. :rofl:

[steve46 12]

Gotcha, I did not realize you are now in the trading education business. Seems to be the hot thing around here lately.

 

[/quote

 

Yeah I'm a real entrepreneur...I have 4 students....and all except one profitable after 3 months

In addition I have invited the owner of the site to visit the class....As I mentioned to the most recent candidate, the class lasts for 18 more months and after that I won't be doing it again...

Why...because doing a good job of educating folks and helping them get over the barriers is hard work....in fact its a much different proposition than just calling out trades...

 

Unlike the person who stalks me on this site (and we all know who he is) my students might actually make it in this profession.

[MightyMouse 12]

Steve46,

 

My statement to Browsfan was not a statement directed toward anyone specifically. I am sure that most experienced traders will agree that most or all claims made by trading educators are unsubstantiated or based on simulated results and designed to lure the inexperienced into parting with tuition money.

 

I do commend you for taking the time to train your students and I do hope you are compensated with more than just money for the effort you will be putting into it. I suspect that by the end of your course, you too will have received quite an education as well as your students.

 

As a business person I do understand why an educator would not want to substantiate the ugliness of trading when the sizzle sells so much better than the steak. I suppose one does what one has to do to make the sale without guaranteeing an outcome.

 

 

MM

[steve46 12]

No need to explain. And I will make a similar comment to the public at large. Those of us who have had to deal with difficult children will be able to put your comments in perspective.

Edited August 15, 2011 by steve46

[TeeRex 10]

Off topic, but I heard thru others that OEC will negotiate any commissions. How much truth to that? I need low rates and free data.

[brownsfan019 17]

Steve46,

 

My statement to Browsfan was not a statement directed toward anyone specifically. I am sure that most experienced traders will agree that most or all claims made by trading educators are unsubstantiated or based on simulated results and designed to lure the inexperienced into parting with tuition money.

 

I do commend you for taking the time to train your students and I do hope you are compensated with more than just money for the effort you will be putting into it. I suspect that by the end of your course, you too will have received quite an education as well as your students.

 

As a business person I do understand why an educator would not want to substantiate the ugliness of trading when the sizzle sells so much better than the steak. I suppose one does what one has to do to make the sale without guaranteeing an outcome.

 

 

MM

 

Hey MM, very well put!!! I don't want this to turn into a vendor bashing thread, but that was an excellent post IMO.

[brownsfan019 17]

Off topic, but I heard thru others that OEC will negotiate any commissions. How much truth to that? I need low rates and free data.

 

TR - it will come down to VOLUME. Any broker will discount if you have the volume behind it. So will you get a discount from regular rates? I can't say since you did not say anything about the volume you trade. And you don't have to post here if you don't want, just be sure to call/email OEC directly and be prepared to give your average volume if you want to work a deal.

 

Data and platform are still free to live accounts, which is a nice cost savings IMO.

[steve46 12]

Hey MM, very well put!!! I don't want this to turn into a vendor bashing thread, but that was an excellent post IMO.

 

I think the post was infantile....Further if you "don't want to turn this into a vendor bashing thread, simply stay on the topic....if you do, so will I...

 

Thanks

Steve

Edited August 17, 2011 by steve46

[brownsfan019 17]

I think the post was infantile....Further if you "don't want to turn this into a vendor bashing thread, simply stay on the topic....if you do, so will I...

 

Thanks

Steve

 

Ok Steve, we can let it go in this thread and we can discuss in another thread if you want to open a thread about your trading 'education' service.

[steve46 12]

Ok Steve, we can let it go in this thread and we can discuss in another thread if you want to open a thread about your trading 'education' service.

 

My comment was about OEC....you and MM decided to detour to other topics of interest (to you)...I am glad to go back to the original subject if you like...

 

For example, I have approached OEC asking about discounts for volume traded. I know OEC is willing to negotiate pricing based on volume...I hope this helps a previous poster with his/her question

 

Thanks

Edited August 17, 2011 by steve46

[Coicah 10]

This is getting good. :fight:

[TeeRex 10]

Off topic, but I heard thru others that OEC will negotiate any commissions. How much truth to that? I need low rates and free data.

 

After further review of these guys, I've read too much negative press, and haven't been impressed with the quality of OEC's infrastructure and data. A call into their sales team was 'interesting' - I'll leave it at that. NFA wrist smack rattled my nerves too.

 

Who uses IB?

[daVinciLite 10]

NFA wrist smack rattled my nerves too.

 

 

FYI,

 

The NFA complaint has absolutely nothing to do with OEC's technology. The NFA had problems with one of their introductory brokers.

 

dVL

[TheDude 10]

so is oec any good or not? i know browns fan should change his name to oec fan, but anyone else.....?

 

i had a look at their web site and i must say they do offer a lot for the money. its almost too good to be true IF they data and software is reliable and fast.

 

and we all know what they say about too good to be true.....

[TeeRex 10]

FYI,

 

The NFA complaint has absolutely nothing to do with OEC's technology. The NFA had problems with one of their introductory brokers.

 

dVL

 

Oh, I see. I shouldn't worry about putting my money at a company with compliance issues. Thanks for the advice?