Platform: "I trade, therefore, I AM!"; Theme Song: "Atomic Dog!"
Favorite Futures: EMD, 6J, ZB
Posts: 798 since Oct 2009
Thanks: 216 given,
Mirus too a massive hit, and a bruising blow to the gut on this whole fiasco, especially because when talking to any broker / salesman, they can not log into any client account, let alone verify balance online (perhaps from the last statement printout of the prior business day)
so not only are their risk management functions (which were highly automated) offline,
but their ability to see customer accounts (at least in the times that I called and asked those direct questions), and
they have put at risk quite a bit of their business strategy...
I hope Elliot W. and Mirus come out of this with minimal loss of base and still pose an ongoing challenge to other retail FCM's in the industry
after all, they weren't one of the largest firms for nothing...
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The following 2 users say Thank You to mattz for this post:
I'll just leave this last comment and we can agree to disagree...
Changing backend trading systems should not be a big deal. The customer funds remain with the same clearing house. The customer's introducing broker remains the same. The customer can often use the same trading software.
Mirus still gets the business, customers remain happy. I cannot see how Ninja Trader loses out by doing this or even appears as biased.
Other vendors have made this suggestion... post #420 of this very thread is from MarketDelta and suggests this change in backend can be done.
If General Motors had told their customers the Edsel was not a good purchase, it would have saved their customers a whole lot of hurt. It makes no difference to me what Sierra Chart decides to support - I don't use that platform, and never will. I have used NinjaTrader for years and it consistently meets / exceeds my expectations. I do not use ZenFire, nor do I trade through Mirus. I do not consider it the responsibility of my trading platform provider to make me aware of potential alternatives. That is exclusively my responsibility. As for what @NinjaTrader deserves, based on their body of work and contributions both here and to the trading community in general, I'd say they deserve considerably more credit than I am able to provide.
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I've seen people post blaming NT over at their support forum. I agreed with them & their venting. I didn't look much more to see if NT was shifting the blame, but It's taken me a lot of reading of this thread and searching to get an idea of wtf is going on, but I think I know now. This forum is all I've found on the subject, glad it's here.
If Rithmic will be the replacement for zen, it sounds like a good development. ...does that mean that Mirus also uses it for orders also? Or do they still have to add on their own functions to it like they did with zen? ...I'm just trying to get a handle on the time frame for this getting implemented.
The following user says Thank You to jaytrades for this post: