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LIVE VOL QUESTION

Discussion in 'General Discussion' started by Rod M, Oct 28, 2014.

  1. Rod M

    Rod M Well-Known Member

    TOM:
    Mark kept referring to LiveVol as a "free product" in Monday's Market Analysis. The only way I know to get it "free" is to execute your trades through their interface. I tried their free trial several months back and found their interface to IB rather cumbersome as opposed to trading with IB directly.

    If there is another way to get LiveVol free, such as opening up a brokerage with them and just keeping a deposit in the account, that would be worth doing.
    Thanks.
     
  2. tom

    tom Administrator Staff Member

    I think if you open a brokerage account with a certain minimum you get the software free. I don't see it on their website but I have a number of $35k in my mind from somewhere. Maybe Jim knows.

    I haven't used the interface so I can't really say if it's hard to use or not. I've used IB for over a dozen years so I'm quite comfortable with it. If you open an account with Livevol Securities, you can still open TWS but you can't execute any trades in TWS, which kind of surprised me.
     
  3. Rod M

    Rod M Well-Known Member

    Your second statement reflects my experience with my LiveVol trial. I will be interested in Jim's comments about alternate ways to obtain it "free."
     
  4. Tim R

    Tim R Active Member

    Hi Guys,

    I opened a brokerage account through LiveVol to get the LVX software and it is indeed a $35K minimum. The good news is you can use TWS to execute trades if you request it. They make it read-only by default because LVX may not reliably be able to detect a trade executed by TWS. If you acknowledge this isn't an issue for you they will enable full trading with TWS and mobile TWS.

    A question for you Tom - is there anyway I can get this site's 0.05 discount with them if I already have an existing account?

    Cheers,
    Tim
     
  5. tom

    tom Administrator Staff Member

    Hi Tim,

    Good question about the discount. Jim has all of the contacts at Livevol so I'll ask him to ask the question.
     
  6. jim

    jim Administrator Staff Member

    Tim R., I am SO GLAD that you ask this question.

    The deal that we were able to negotiate for our Capital Discussions community is for "ALL ACCOUNT OPENED THROUGH CAPITAL DISCUSSIONS." Therefore existing accounts are not eligible, unless you click on the "LiveVol" banner from away on the Capital Discussions first. Unfortunately, I can not locate your ID clicking on the "LiveVol" banner. If you have recently (within the last three months or so) opened your LiveVol Securities account, please email me at jim@CaptialDiscussions.com with all your account information (Name, account number, email, address, and phone numbers) and I will put in a request to see if Livevol will grant us an exception.

    If the future, when ever opening a LiveVol Security brokerage account, PLEASE click on the LiveVol banner from ANYWHERE on the Capital Discussion website BEFORE opening your new LiveVol account and you will receive the $0.05 per options contract (Lowering your commissions from $0.60 to $055)

    Lastly, starting later this month, Capital Discussions will be offering some paid services (e.g., I will be teaching a Covered Call Class). Everyone who signs up for ANY Capital Discussion PAID SERVICE will receive a $0.10 discount from your LiveVol commissions. This means that you will ONLY be paying $0.55 per options contract if you open your account through Capital Discussions versus paying $0.65 if you open your Livevol account directly through Livevol website or $0.70 if you open any IB account account through the IB website. That is nearly a 20% discount on your commission bill vs. IB... For the average options trader, that could add up to $100s or even $1,000s per year.

    Quite frankly, I can NOT understand why EVERY single Capital Discussion member does not take advantage of the this great discount that we have negotiated for you. Almost EVERY website and educator, keep that "finders fee" or "commissions money" for themselves. Tom and I want to make Capital Discussions a true community. In a true community, members help one another. Tom and I thought that helping you lower the cost of your commission put real $$$ back into your wallet. This is what true community members do for one another.
     
  7. Rod M

    Rod M Well-Known Member

    Jim: Maybe it is just hard to teach an old dog new tricks (meaning me), but I looked at LiveVol's trading interface a couple of years ago and found it clumsy compared to IB's interface...especially when trading options. For any option spreads, credit, debit, fly, condor, etc. I always build the trade in IB's "Combination, Leg by Leg" interface. I know there are other ways to do it in IB, but I've done it this way for so long, its easy for me. I felt that it would be cumbersome to layer LiveVol on top of IB to accomplish the same thing. Again....just my opinion, not a criticism of the product.
     
  8. Rod M

    Rod M Well-Known Member

    UPDATE ON MY PREVIOUS POST. Jim. I talked with Live Vol sales today and was told that they have now updated their product so that a user is no longer required to trade thru the LV interface into IB. Now, you can get LV "free", but still use IB Trader Workstation as your primary trading interface. So now a user can either trade thru LV or IB, but it is strongly suggested that you choose one interface and stay with it thru the duration of the trade...dont bounce back and forth (trade management only). I intend to download LV today and get started via your Tuesday session...thanks.
     
  9. tom

    tom Administrator Staff Member

    Rod, if you get a LV account and trade with TWS can you trade all of the products at IB or are you limited? I know in the past you couldn't trade futures options or forex via LV for instance.
     
  10. Rod M

    Rod M Well-Known Member

    Tom...I talked with sales, not support, so did not get a detailed answer. This sounds like a good question for an upcoming webinar when one of the LV team is on. My ultimate goal is to keep my "warm and fuzzy" IB interface for trading, but still be able to use LV for analytics.
     
  11. Rod M

    Rod M Well-Known Member

    A POINT OF CLARIFICATION. On Jim's recent overview of LV, I understood him to comment that the data flow for LV would come from IB. I called tech support on this today and was told that the ONLY interface with IB would be for trading and account management, there would be no API for data flow...the data would continue to source from LV.
    The reason I was concerned was that I tried the API interface for OVue, but found it to be a little jerky, and sometimes it took several seconds for OVue to catch up with IB and I did not want this with LV.
    So far, it looks like I can have my cake and eat it too...get the benefits of LV without giving up any thing I like about IB. I am looking forward to Jim's sessions to learn more about how to use LV.
     
  12. Gabor Maly

    Gabor Maly Well-Known Member

    Rod,

    Have you made the change from IB to Livevol yet? If yes is everything working like you expected?

    Cheers
     
  13. Rod M

    Rod M Well-Known Member

    No....although LiveVol is a great product, I am already doing well with IB and Ovue and cant really see where it will add anything to my trading picture. If that changes, I will add LiveVol to my toolbox. thanks.
     
  14. Gabor Maly

    Gabor Maly Well-Known Member

    Well, a quick update on the topic for the non-US folks. If you have an IB account then your IB account will be most likely be not US governed (e.x. UK governed for Europeans) and you won't be able to link your IB account to Livevol, they will only allow IB - US accounts to be linked. Your only option is to open an new and separate account with LiveVol.
    I found this out today after going through initiation process.
     
  15. uwe

    uwe Well-Known Member

    But can you get an US account via LiveVol? Even as European?
     
  16. ian_uk

    ian_uk Member

    Yes. I am in Europe and opened an account with them last year. The livevol platform is very powerful in its volatility scans and order flow and is easy to use, but I am looking forward to catching up on the regular webinars here on how to use it properly. I do have other IB accounts where you can trade non US assets directly, but use the livevol platform for US stocks and options. They have added US futures and options recently but you trade those through your linked IB account.

    Ian
     
  17. Gabor Maly

    Gabor Maly Well-Known Member

    Ian,
    As per my previous post I was told by IB just yesterday that an IB-UK account (the governance structure valid for European accounts according to them) can not be linked to LiveVol. Since you were able to do this does it mean you have an IB-US account out of the UK? (if you have an IB-UK account you would read this when doing wire transfers Wire Beneficiary Address: Interactive Brokers (U.K.) Ltd, One Carey Lane, Fifth floor, London, England, EC2V 8AE, United Kingdom)

    Thanks for confirming

    Cheers

     
  18. Gabor Maly

    Gabor Maly Well-Known Member

    Hi Uwe,
    They did say that a unlinked new account can be opened without any problems.
    It will be interesting to see what setup Ian has as he seemed to be able to make this linking work from the UK.
     
  19. uwe

    uwe Well-Known Member

    I would love to have an US account - much better account protection than the UK version. I also wrote an email to LiveVolSecurities with some questions about this. So far no answer.
     
  20. ian_uk

    ian_uk Member

    One diiference is I am based in Guernsey which is a dependency of the UK but not for tax purposes. Before that I was in Singapore so that may have been the difference. My wire transfer from Guernsey was to USA. Vincent Cicco at Livevol is my account representative and is very helpful.
     

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