Originally Posted by 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".

Originally Posted by 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.

Originally Posted by 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.

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.

[brownsfan019]

Originally Posted by 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.

Not necessarily.

I guess it depends on who you talk to and how much business you are doing with them. I have a total of four demo's, all of which are non-expiring, and do not pay a dime for them.

[AbeSmith]

The person I emailed said:

"After the trial expires the demo software is $24.95 a month if you have a real money account or not."

[brownsfan019]

Abe,
My suggestion is that you email your contact when it's close to expiration and just explain that you are still demo'ing the software and would like an extension. If/when you decide to trade live and they see commissions coming in, you can always request that the demo be extended. At most brokers, incl OEC, there are the 'standard business replies' and there are the replies you get if you ask the right people after showing you are going to do business there.

The bottom line is that OEC is in the business of making money and they would prefer to get it on the commissions, but they also can't provide unlimited use demo's for people that are not trading there. $24.95/mo is not much in my opinion if you still need more time to paper trade.

[AbeSmith]

Originally Posted by brownsfan019 »

Abe,
My suggestion is that you email your contact when it's close to expiration and just explain that you are still demo'ing the software and would like an extension. If/when you decide to trade live and they see commissions coming in, you can always request that the demo be extended. At most brokers, incl OEC, there are the 'standard business replies' and there are the replies you get if you ask the right people after showing you are going to do business there.

The bottom line is that OEC is in the business of making money and they would prefer to get it on the commissions, but they also can't provide unlimited use demo's for people that are not trading there. $24.95/mo is not much in my opinion if you still need more time to paper trade.

I'm not sure if I will go with OEC for real trading. My computer locked up twice so far using their demo, and it seems they are a relatively new company with not many clients and I may want to go with a time tested company for real trading. But for paper trading it looks like a good platform if it does not lock up too much.

$24.95 is around what I pay for Interactive Brokers and Sierra Chart. I could cancel IB and Sierra to cover that cost. But the thing I like about IB, please correct me if I'm wrong, is that they have relatively low margin interest rate. I was not able to find another broker with such low rates for small money accounts. Although I plan to day trade, I would like to one day also do swing trading and long term trading. It seems that Interactive Brokers is a good broker for that.