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FOLIOfn
Integrated Trading in OT
Last Activity 5/25/2010 4:37 PM
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Subject : Integrated Trading in OT
Posted : 4/30/2004 2:01 PM
Post #2914

Over the years the most frequent question I have been asked is "Do you use OmniTrader in your trading?" My answer has always been, "No, I am not a trader." Up to now, supporting and educating our users has demanded so much of my time there was no time left to place and keep track of my trades. I am delighted to be able to change that answer with the addition of the FOLIOfn interface into OT2004.

I can now place my long trades as I am prospecting through my focus list in OmniTrader. It literally takes me no more than 10 minutes to find good trading opportunities and place my order. I'm excited about the financial opportunity this presents as well as the position it puts me in to better support our customers.

Sincerely,

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Ian Inkster

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Subject : RE: Integrated Trading in OT
Posted : 4/30/2004 11:20 PM
Post #2919 - In reply to #2914

Hi Angela, I recently received an email from Ed, regarding FOLIOfn’s decision NOT to allow International customers to establish accounts with their company.
I would be most interested to find out what those reasons are.

Some time ago, I decided to trade the US market and contacted a broker with reasonable commission rates. After several weeks and numerous ‘phone calls, I was finally informed that since I did not have a U.S. Social Security number, I was “not allowed” to trade via a U.S.broker.

I immediately contacted Amertrade and had an account up and operational almost immediately. Funds were transferred from a U.K. account overnight to my new Amertrade account. All that I had to do was complete a W7 form.
I have a U.S.Bank account or (alternatively could deposit funds with Foliofn) and since I have proved that a Social Security number is NOT required then it would appear to be a FOLIOfn Company policy. Why?

Let me further point out, that there are literally hundreds of Australians and New Zealanders, (not to mention U.K. etc.) who daily trade the U.S. markets through large Australian based brokerage firms. To the best of my knowledge, apart from completing a W7 form, one does not have to obtain a U.S. Security number. One would think that the benefits to FOLIOfn and Nirvana would be obvious.

Angela, can you please help to change this anomaly.

Kindest regards,
Ian Inkster

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egallagher

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Subject : RE: Integrated Trading in OT
Posted : 5/1/2004 11:29 AM
Post #2920 - In reply to #2914

Will there be an effort to establish integrated trading in OT with some of the other vendor? My accounts are with Schwab which uses Cybertrader as their online provide through SteertsmartPro interface. Currently I use OT to prospect and StreetsmartPro to trade.

It would be great to be able to trade directly though OT but I am very hgesitant to move my accounts or treade through two differnt entities.

TIA
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Subject : RE: Integrated Trading in OT
Posted : 5/3/2004 2:15 PM
Post #2934 - In reply to #2914

Excerpt copied from Ed's post in the Nirvana Club forum:

I COMPLETELY agree with you. We didn't know this until after we had sent the mailer out (it's in their fine print). And frankly, I was surprised. You are right - other brokers let you set up accounts here, so why not FOLIOfn? It's a bit absurd. I am going to pursue this next week with them, to see if there is any way a non-U.S. citizen can set up an account.

I will see what I can find out through my contacts. What I would do, is contact them yourself and voice your dismay that they don't support international customers. I am just one voice. If every international customer called FOLIOfn and complained, perhaps that would get them to move on this.

Thanks for posting..

-----
Ed Downs
CEO, Nirvana Systems


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fasttracker

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Location: Farmington, MI

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Subject : RE: Integrated Trading in OT
Posted : 5/4/2004 1:20 AM
Post #2939 - In reply to #2914

Hi:

I just installed FolioFn Interface. When I click on foliofn icon and log on to my folio account I get information about one account. I have two accounts with foliofn. Now I do not mean I have two folios. I have TWO ACCOUNTS. How do I log on to the second account. In folio I log on using the same username and password. In OT I get info about only one account. What gives?

Taljit
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Subject : RE: Integrated Trading in OT
Posted : 5/4/2004 12:13 PM
Post #2949 - In reply to #2914

Hello,

This question has come up 2 times today; your timing is perfect.

We came across this scenario during our beta testing. Our development team is adding a window that will allow you to select the FOLIOfn account you would like to access. The next OT update will include this feature.

Regards,
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fasttracker

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Subject : RE: Integrated Trading in OT
Posted : 5/4/2004 2:00 PM
Post #2953 - In reply to #2914

When would this feature be available. Without this I can only manage one of the two foliofn accounts from Onmitrader site..Thanks
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Subject : RE: Integrated Trading in OT
Posted : 5/4/2004 4:23 PM
Post #2954 - In reply to #2914

Hello,

Unfortunately, I cannot give you a firm date. There are other changes in this release and it needs to be thoroughly tested by our quality department before it's posted. I anticipate it will be available on Thursday.

Regards,
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Subject : RE: Integrated Trading in OT
Posted : 5/18/2004 6:47 PM
Post #3081 - In reply to #2914

Not clear on a couple of FOLIOfn details.

1. Are FOLIOfn end of month statements and/or tax records made available to clients?
2. Are ARM2r3 and r4 included in FOLIOfn's "Default" testing?
3. OT's testing of the FOLIOfn's universe of symbols takes my machine about 45 mins. Have others reported about the same time required to test?
Thank you
fg

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JT

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Joined: 5/19/2004
Location: Washington

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Subject : RE: Integrated Trading in OT
Posted : 5/19/2004 9:39 AM
Post #3090 - In reply to #3081

FG;

I've been trading with FolioFN, for a couple of years. I haven't actually used OT with it yet. However I do the answer to your first question.

FolioFN, does an awesome job at reporting. Their reporting handles taxes very well. In fact, my accountant was able to use one of their printouts as an attachment to my taxes last year. She didn't even have to transfer the trades to any of the tax forms. It was just a matter of attaching the report and reporting on the final amounts.

Hope that helps!
JT

Originally written by 14219 on 5/18/2004 4:47 PM

Not clear on a couple of FOLIOfn details.

1. Are FOLIOfn end of month statements and/or tax records made available to clients?
2. Are ARM2r3 and r4 included in FOLIOfn's "Default" testing?
3. OT's testing of the FOLIOfn's universe of symbols takes my machine about 45 mins. Have others reported about the same time required to test?
Thank you
fg



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Subject : RE: Integrated Trading in OT
Posted : 5/21/2004 10:16 AM
Post #3106 - In reply to #2914

Thank you for the information I wanted.
One of my questions was whether FOLIOfn's "DEFAULT" testing system that ships with the CD includes ARM2. If I had thought, I would have not have asked. ARM2 would not be a part of a package available to non-Club members.
Thanks again,
fg
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Subject : RE: Integrated Trading in OT
Posted : 5/21/2004 10:26 AM
Post #3107 - In reply to #2914

I should have added the following to my preceding message. This may be of interest to Club members; I selected ARM2r3 and ARM2r4 (Low Auto Filter setting) together with FOLIOfn's "DEFAULT" testing for FOLIOfn's entire spectrum of symbols and it only added 20% to the testing time required. There were about a dozen ARM2r3 hits, no r4 hits and, of course, several dozen DEFAULT hits.
fg
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Kris

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Subject : RE: Integrated Trading in OT
Posted : 5/23/2004 2:57 PM
Post #3111 - In reply to #2914

Hi Angela,

Have you/Ed managed to twist FolioFn's arm to accomodate international customers?

As suggested, I contacted FolioFn as well...

Kris
Johannesburg, South Africa
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Subject : RE: Integrated Trading in OT
Posted : 5/24/2004 2:41 PM
Post #3113 - In reply to #2914

Copied from the Nirvana Club Forum:

Our contact at FOLIOfn asked their compliance department about international customer accounts. Their basic answer was they don't have the resources to devote to covering all the legal requirements. I would ask that international members not get discouraged; they are just one broker - we will implement others.

-----
Ed Downs
CEO, Nirvana Systems
hedowns@nirvsys.com

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fasttracker

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Subject : RE: Integrated Trading in OT
Posted : 5/25/2004 2:37 PM
Post #3126 - In reply to #2954

The foliofn interface is still not working properly. I get information about only two folios of one account. Nothing about the second account. What is the time line to fix this problem.
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JT

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Subject : RE: Integrated Trading in OT
Posted : 5/25/2004 4:36 PM
Post #3127 - In reply to #2914

works great for me. I have two accounts and multiple folios in each account. Make sure you are using the latest beta. 5b, I belive.

JT
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Barry Cohen

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Subject : RE: Integrated Trading in OT
Posted : 5/26/2004 4:46 PM
Post #3136 - In reply to #2914

Also make sure that the accounts were set up under the same user ID & PW, and also the same social security number.
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RichardL

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Subject : RE: Integrated Trading in OT
Posted : 2/7/2005 12:15 PM
Post #5495 - In reply to #3113

I got the same answer from FolioFN about 4 weeks back, I'm in the UK and they don't allow non US unfortunately.

There are some great UK dealing sites using web interfaces which I would love to be able to use with OT. Could Nirvana offer some kind of SDK to allow users to capture the relative dealing interface clicks/moves & generate their own macros/VB code?

or run a user survey to capture the "best of dealing sites" over the installed user base as a start to identifying the next interfaces for international customers?

Best regards

Richard
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Flowta

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Subject : RE: Integrated Trading in OT
Posted : 2/8/2005 1:20 AM
Post #5509 - In reply to #5495

I can only support Richard in his request, for obvious reasons :)

Gary
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Privateer

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Subject : RE: Integrated Trading in OT
Posted : 2/17/2005 10:27 AM
Post #5692 - In reply to #2914

Well, integrated trading with Interactive Brokers would be a good all around solution. They do offer more than 40 exchanges including US, Europe, Asia, Canada to trade from one single multi currency account. Stockoptions , futures and options on futures, stocks, ETF's , exchange trade closed end funds ( NYSE ).

Their Trader Workstation can be linked already via active X, DDE with a lot of data / TA sources and there's an active usergroup offering many types of plugins and addons for trading an IB account through other interfaces. Dozends of professional and shareware applications can be found on their website under "Software"

Best of all : commissions are really low. 0.01 USD/share for US Trades.
1$ min./trade. For trades 500 shares & up, they charge only 0.005 USD/share. Options start from 1.95, I think.

With those commissions, and basket orders one can easily try to simulate a Folio - like strategy - with the difference that you still can go short, have access to margin and realtime trades - also through ECN's.
I do about 400 - 500 roundtrips a year and have yet to find a better choice for the self directed trader. But It's not really the best choice for scalpers though.

The wealth of ordertypes including such as conditional orders, Iceberg, Baskets, hidden , conditional , Market on open, Market on close, Volume wheighted average price etc. is very impressive and they continue to add new features to their TWS with almost every new release - which comes frequently about 1 in a month.

I'm working with IB since almost 4 years now and have no reasons to complain.

For more info : check www.interactivebrokers.com

Newbies be aware: IB belongs to Timber Hill Group,Chicago, one of the biggest Market Makers in the futures and options market. Their typical clients are institutions around the world. Although Interactive was designed for the active retail trader, it's not the Charles Schwab type of broker or an E-Trade financial supermarket.

IB is a plain direct access broker ( not to mix up with typical daytrading brokerages ) with very low commissions and a wealth of markets to trade. However, they'd be the last to hold your hand on other things than technical support for their Trader Workstation. You need to know what you do when trading with IB.

Disclaimer : I'm not related to this company other than being a satisfied customer since many years. I'm not advocating daytrading ( which I don't do myself anyway ) nor do I give any advice on trading, brokerages and other financial subjects. If you decide to trade with IB, it's completely your own decision and risk.

[Edited by Privateer on 2/17/2005 10:32 AM]

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JJ DOKE

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Subject : RE: Integrated Trading in OT
Posted : 2/17/2005 10:49 AM
Post #5693 - In reply to #2914

I second integrated trading with Interactive Brokers.

JJ
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Flowta

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Subject : RE: Integrated Trading in OT
Posted : 2/17/2005 12:19 PM
Post #5702 - In reply to #5692

Interactive Brokers looks really good (unfortunatley they dont do the ASX :), but certainly seems open to all :)

Gary
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Barry Cohen

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Subject : RE: Integrated Trading in OT
Posted : 2/17/2005 3:30 PM
Post #5712 - In reply to #2914

It'd be best & likely more noticeable to voice your opinions about adding I.B. to our Feature Requests. Here is a post already created:
http://www.omnitrader.com/omnitrader/support/OT2004/forum/thread-view.asp?threadid=804&posts=2

Or create a new post in this forum:
http://www.omnitrader.com/omnitrader/support/OT2004/forum/forum-view.asp?forumid=21

[Edited by Barry Cohen on 2/17/2005 3:32 PM]

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Privateer

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Subject : RE: Integrated Trading in OT
Posted : 2/17/2005 5:44 PM
Post #5725 - In reply to #5712

Hi Barry,

think we are not talking about adding IB as an additional datafeed only, as the two other threads, but for integrated trading.
But you're right this belongs to the feature request section.

Other than that, IB offers no backfill on it's realtime data to my knowledge, hence the datafeed service of IB would be only of limited use unless you have an additional source for the needed backfill data.

regards
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