Review of Open ECry (futures broker)

[brownsfan019]

If nothing else Cooter, it is nice to OEC constantly working and improving on their software. And for something that is FREE, I think it's impressive.

[cooter]

Indeed. There's a cost for everything, I suppose. But at least the folks at OEC made the effort to improve their product. Connection is rock-solid, unlike the AT platform, so I can't complain. Let's hope the actual product exceeds expectation.

[brownsfan019]

Abe,
How do you like those Open ECry charts and software? I think the charts could use some work, but the DOM is what I mainly use it for.

[AbeSmith]

	Quote:	brownsfan019
	Abe, How do you like those Open ECry charts and software? I think the charts could use some work, but the DOM is what I mainly use it for.

The charting has many positives. It is better than Sierra IMO. I like how they mark each candle where you entered and exit a trade with an arrow. That gives me a general picture of my activity when I look at the chart and it makes it very easy to find my trades when I'm annotating it on SnagIt.

But the pivots do not seem to agree with the pivots from http://www.tradesignals.com/pivots/.

The chart trading is excellent. Now I can easily enter a trade and place a stop order, and easily adjust the stop from the chart. That is much better than how I traded before.

I tried DOM for the first time but was having trouble adjusting to it. I would like to find a method to enter a trade with 2 contracts, and then scale out one contract after 10 points. That is done from the DOM I think but I need some time to learn it.

The software seems good. I'm still adjusting to it. My first impression about OEC is that they have good technology, and they designed a very good trading platform, considering that there are no platform fees. And unlike Tradestation, OEC offers paper trading.

[brownsfan019]

Abe,
I agree, the OEC package is nice. The fact that it's free is just even more reason for any trader to consider doing business there. I totally forgot about trading from the chart b/c I do not use that, but you are right - that's a very nice feature if it fits your style of trading.

Glad you like it and see some potential there. As I said, there should be no reason in today's technology to have problems managing your trades due to a software issue. That's not acceptable to me.

[cooter]

	Quote:	brownsfan019
	Abe, How do you like those Open ECry charts and software? I think the charts could use some work, but the DOM is what I mainly use it for.

How do you like the new DOM and price ladders features with the ver 3.1.1.1?

[cooter]

	Quote:	AbeSmith
	I tried DOM for the first time but was having trouble adjusting to it. I would like to find a method to enter a trade with 2 contracts, and then scale out one contract after 10 points. That is done from the DOM I think but I need some time to learn it.

That feature is available, it's just not as user-friendly as other DOMs like the Transact AT platform. If you have the newer version of OEC 3.1.1.x, they call it "Strategy Order".

	Quote:	AbeSmith
	And unlike Tradestation, OEC offers paper trading.

Unfortunately, OEC likes to charge its customers for their demos - that is, if you don't want one that expires every 2 weeks. They could do a lot better by offering a free demo for each customer to use; currently it's $24.95/mo if you don't want to signup every two weeks for a new one.

[cooter]

	Quote:	AbeSmith
	Even if you're a real money account customer they charge $24.95 for the demo?

Apparently - if you want one that doesn't expire after 2 weeks.

Call them up and let us know what they tell you. 800-920-5808

[brownsfan019]

Abe,
If you are trading real money, you will NOT be charged any monthly fees. As for having an account, but not actually trading in it, you'll have to contact OEC.

[cooter]

Browns,
For the main account, that is true. Ask them for a non-expiring demo to go along with your main account and they WILL charge you.