StephenMeowkmus
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Everything posted by StephenMeowkmus
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I appreciate your advice. And I can assure you, the first, second, third and fourth things I did were check scripts and executions. I'm more than confident that neither are the problem. When I said the highest levels of the C-suite, I was referring to Karen.
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Yes, I can still count on this issue to occur at the worst possible moment. In fact, all I can do right now is not trade after hours (w/ CMEG). It's just way too risky. I've been in touch with DAS--including the highest levels of the C-suite. They've told me, essentially, that until CMEG asks them for help, there's nothing they can do. * Something else happened while live trading this morning that's just as if not more concerning than the TIF bug. Working up the energy to write about it.
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Quick Update: CMEG, after an agonizing customer service experience, eventually compensated the loss I sustained due to their TIF bug. I won't go into too much detail because it required me to involve DAS leadership (via LinkedIn). That said, the TIF is still broken. Yesterday I was unable to close two long positions after hours using the DAY+ TIF (rendering my hotkeys useless). Only after switching to DAY was I able to close the positions (despite it being AH). Most frightening: NOT EVEN "PANIC" WORKED! CMEG claims "[the bug] is currently being looked into and an update will be provided as soon as one becomes available." Otherwise: - I've asked CMEG to INFORM ALL THEIR CLIENTS of the TIF bug (but that doesn't seem a likely possibility). - While CMEG doesn't seem to view this bug as a serious issue, it very much is in the context of DAS as a paid platform. Hotkeys/order scripting are what make it so powerful for active traders (especially scalpers). But because TIF is a component of any ticket-generating script, when it doesn't work, neither does the script (hotkey). So what am I and others paying for? That's it for now...believe it or not, this post is only a (very, very) abridged account of my recent experiences with CMEG. My hope is that anyone who in the future considers trading with CMEG as their broker be aware of these limitations. Because they can't be found in any documentation. But they're here now.
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Thanks, that's good to know. I don't typically trade at open either. And yes, I know TDA charges 6.95 per OTC ticket(why I opened a schwab acct, but I generally don't trade OTC anymore). I'll check IB again. Last time I researched them, the commissions seemed slightly higher than (or at least no better than) CMEG's. So I figured just toss $10K into CMEG and take advantage of the 6:1 leverage. But perhaps I should take another look. CMEG is a flat $2.95 per ticket plus ECN and other fees. With larger share sizes on inexpensive securities, that seemed like a decent deal, and less than IB. But I'll revisit the IB comm schedule.
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Thanks for taking notice, zulkafil. I've only ever had positive experiences with TDA customer service (and schwab, and others). CMEG is baffling. In fact, the first line of my most recent email to them was this: "Is trying to obtain customer service a lost cause?" My relationship with CMEG is now very close to ending. If they can fix TIF by working with DAS (and return my loss sustained due to faulty TIF), I'll give them another shot. Otherwise, I'll need to cough up the extra dough to bypass PDT. I love DAS, and I also love commission-free trading. Have you ever tried connecting DAS to TDA? Can't find much info beyond those who experienced poor fills/executions. But I'm wondering if the integration is better-sorted out now.
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I have. But I'm regretting it. See my recent post(s): CMEG TIF is WRONG - Day Trading Brokers - Bear Bull Traders Forums
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I have now tried calling CMEG customer service three times. The first time (yesterday) I waited on hold until they eventually disconnected the call. The second time (also yesterday) I waited on hold until someone picked up. I asked to speak with a representative familiar with the Das Trader platform (and hopefully active trading). While waiting to be transferred, I was again disconnected. Just tried again, and after waiting on hold for nearly 20 minutes, I decided to leave a message asking them to call me (I also asked this of them in an email yesterday, but no response). So on top of everything else, I'm paying international rates for absent customer service. Unbelievable.
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Yes, I'm quite familiar with how DAS is supposed to work (at least TIF and all other functionality relevant to my trading style). I'm dumbfounded by CMEG, though. I'm glad this issue may be gaining some traction at BBT. Perhaps it may spur CMEG to address and solve it rather than ignore it.
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Just received an update from CMEG. I'm so taken aback by their response that I need to better collect my thought before I call them to discuss over the phone. Am I wrong, or is this no small issue? Because the way I see it, they have essentially said this: "Ideally TIF works. But it doesn't." It's like telling me, "Ideally a Sell Order will sell. But in rare instances, it may not work. In those cases, try placing a Buy Order."
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Thanks @zulkafil. Still awaiting a response from CMEG. And hoping my next update will be a positive one. I just fail to understand why they would treat broken TIF as a non-critical issue.
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And just a few more (this is totally unorganized bc I need to get ready for Halloween. But I'll copy and paste. ME: CMEG: ME: CMEG: ANYWAY...hopefully anyone reading this gets the idea. Clearly, I'm frustrated.
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And here is their language (and mine) from previous communications:
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Thanks, Peter. I'm quite familiar with the page you screenshotted. In fact, I've sent the same screenshot to CMEG in the past. What they claim is their version of DAS applies TIF as I described in my original post (which is a claim I've also proven untrue). I have spoken to Das support over chat, and implored CMEG to contact DAS to have this issue resolved. And yes, I can easily prove correct order type from the DAS logs. Below are a few examples of email exchanges I've had with CMEG. Curious to know what you or anyone else thinks. I'll start with the most recent and follow up with the exact language they have used previously re: TIF (I hope these screenshots present in the correct order):
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Follow up. This just happened and I'm furious. CMEG has made abundantly clear to me that DAY+ TIF is for AH, and DAY is for PM and market hours. I tried to close a position AH using my hotkeys and the montage, but every single time it was cancelled without explanation. I was using DAY+, of course. Finally, as a last-ditch attempt, I tried using the DAY TIF (even though it's after hours). That order went through immediately. Not only was this terrifying but also exactly opposite what CMEG has told me previously. And it cost me money. Has nobody else experienced this issue with CMEG?
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I can't find anyone complaining about this issue, but I certainly am (to CMEG). According to the Das user manual, TIF Day is for market hours only while DAY+ covers market plus extended trading hours (i.e., premarket and after hours). That is both logical and how every broker I've ever used applied TIF. But CMEG applies Das TIF as such: Day for premarket and market, Day+ for after hours. That is illogical and wrong. It means needing a duplicate set of hotkeys depending on when you're trading. (What's more, I don't even think CMEG's description of how their TIF works is correct; I use Day+ during regular market hours all the time...and am almost certain I've had to switch to Day to close out a trade AH...it's almost as if they've got the TIFs backwards). Anyway, I'm trying to get CMEG to contact Das and fix this problem. Just wanted to let anyone else know who's as frustrated as I.
