Australian (ASX) Stock Market Forum

Commsec Iress - All comments welcome

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Am used to the old Comsec PT1 and was looking at the change coming to move to Iress so i tried the Iress demo but it seems painful to set up and use compared to PT1. I use three 22inch LCD screens with PT1 plastered across all three with charts, depth and all the rest of the stuff I find I use to trade

So I was looking at Paritech Pulse as the way for me to go as that is where PT1 came from, instead of Iress, is there anyone who is using Iress and knows pulse to help me decide which way to go, or anyone using Pulse and has tried Iress. Feed back Please!

Just feel Comsec have dumped me in a hole as I dont seem able to set up Iress to work across the screens the way I do with PT1. PT1 loads all three screens the way I use them when I start it, with Iress it looks like I have to open the browser three times and reconfigure the layouts each time to get the screens set up the way I want.

Am I right or have I missed the plot somewhere?
Cheers:)
 
G'Day Techbuy,

You can use iress on multi screens, you just have the main page on whatever screen you prefer, then you open another application in a new window and drag it over to the other screen, do this to as many applications you like and resize as required, when you are happy save the layout.
Then when you log on again all the selected applications load up on your previously selected screens, works a treat.
 
cutz said:
Hi Boggo,

I've found that frames mode works best on multi display, i.e, 4 or 6 frames on the main screen, (6 will work well on a 22" screen) then the new windows spread out as you like.
Click to expand...

Thanks cutz, I am looking at changing the current Iress layout that I have had for ages..
 
cutz said:
Hi Cuttlefish.

At risk of sounding like a d******* . I’ve been transferring stock out of one of my commsec accounts into another brokerage account, I have been doing this on the market placing the bid from my new account a few levels below and placing the ask through commsec a few levels down, then working up slowly in both accounts till the deal is done for a small spread effectively paying the brokerage, as you can imagine moving the ask up on commsec was pretty awkward. ( i didn't tell commsec tech support that)

I did this successfully over a period of a few weeks on four of my holdings, the 5th lot last Friday I got caught with my pants down buying but not dumping the commsec holdings due to what i feel was the delay in entering details for an adjustment. The market fell away slightly so being the stubborn person I am I waited for the price to recover but it didn’t happen.

As you can see my personality isn’t cut out to be a trader, that why I prefer options.
Click to expand...

Hi , sorry but i must of missed something ...... how come you didnt just get the new broker to transfer the holdings ? years back when going from commsec to etrade , all i had to do was tick something and provide my HIN and presto it was all transferred .

sorry if i missed anything here in why you went through the market but only just skimmed this thread today
 
cutz said:
Hi Cuttlefish.

At risk of sounding like a d******* . I’ve been transferring stock out of one of my commsec accounts into another brokerage account, I have been doing this on the market placing the bid from my new account a few levels below and placing the ask through commsec a few levels down, then working up slowly in both accounts till the deal is done for a small spread effectively paying the brokerage, as you can imagine moving the ask up on commsec was pretty awkward. ( i didn't tell commsec tech support that)

I did this successfully over a period of a few weeks on four of my holdings, the 5th lot last Friday I got caught with my pants down buying but not dumping the commsec holdings due to what i feel was the delay in entering details for an adjustment. The market fell away slightly so being the stubborn person I am I waited for the price to recover but it didn’t happen.

As you can see my personality isn’t cut out to be a trader, that why I prefer options.
Click to expand...

LOL - I'd describe that as a pretty adventurous way to move stock between accounts! :)

If its just a time thing I guess I'm used to the password step already anyway so it won't be too much of a hassle repeating it. I actually find that the password step helps me to verify that I've properly read and checked the order because when putting in a lot of orders its easy to zone out and miss typo's and mis-entries. With the options orders the execution times with comsec are appalling anyway so a few extra seconds typing a password in won't make much difference ... :p::rolleyes:
 
nunthewiser said:
Hi , sorry but i must of missed something ...... how come you didnt just get the new broker to transfer the holdings ? years back when going from commsec to etrade , all i had to do was tick something and provide my HIN and presto it was all transferred .

sorry if i missed anything here in why you went through the market but only just skimmed this thread today
Click to expand...



Yeah that would have been my preferred method but unfortunately IB don’t use the chess system and I read here that an off market transfer is complicated and takes a while to process (off market transfer to IB). I felt that I couldn’t have stocks in transit for too long as I use them for option margining.
 
cutz said:
but unfortunately IB don’t use the chess system.
Click to expand...

:eek::eek: I hope you've read their product disclosure statement ... what system do they use if they don't use the CHESS system? Is your portfolio exposed to any counterparty risk if held with IB? How is ownership registered and title managed?
 
G’Day Cuttlefish,

Yeah this is a big issue with a few people and if you’re only happy with the chess system IB is not ideal.

Shares purchased through comsec are cleared by the ASX Settlement & Transfer Corp and the info stored electronically, shares purchased through IB are cleared by Fortis Clearing Sydney, and here’s a link for your perusal http://www.fortisclearingamericas.com/aboutus/globalaccess.html.

I can't see how counterparty risk is any different from a commsec trade, i only do stocks and options.

That's probably all I have to say on this issue as it has already been discussed at length and it took me a while to take the plunge due to the chess issue but I did the research now I’m OK with it. If I want a copy of the portfolio for the filing cabinet all I need to do is go to account management and punch out a report.

If you need further info here’s a link to the IB website, most of the stuff is there you just need to know where to look, whatever’s not there will be presented during account opening.
http://www.interactivebrokers.com/en/general/education/faqs/safetyFAQ.php?ib_entity=llc ,
 
cutz said:
G'Day Techbuy,

You can use iress on multi screens, you just have the main page on whatever screen you prefer, then you open another application in a new window and drag it over to the other screen, do this to as many applications you like and resize as required, when you are happy save the layout.
Then when you log on again all the selected applications load up on your previously selected screens, works a treat.
Click to expand...

Are you launching Iress more than once, or launching it once then spreading the windows (for watch lists, depth, graphs etc) across three screens?
 
Hi nulla nulla,


Launch iress once,

Assuming it’s in frames mode, (ie one screen with multi frames), go to analytics drop down menu, >chart, >new window, a chart will pop up in a new window, you then drag it across to the other screen, you can then maximize to fill the screen or restore down and size it how you like.

So from the main window launch as many different applications as you need and move them around as described above i.e multi applications running in the other screen in separate windows sized as req.

When you’re happy go to the Window drop down menu and save the layout, when you log in again it will load up in the saved layout.

Make sure you logout from the user drop down menu when closing iress.

Hope this makes sense.
 
Once again I would like to thank everyone that has contributed. It is great to see the level of feedback all of which has been helpful. From the posts and information gathered in the chat rooms, I have worked out the following which may help others in setting up their ComsecIRESS working environments:

First: You may need to upgrade some of your soft ware. It was recommended that I upgrade windows XP to service pack 3, Internet Explorer 6 is supposed to be fine but it was recommended to upgrade to IE7. Also java needs to be installed from the genuine web site http://www.java.com/en/ You may also need to upgrade the java ram setting to 256meg, if you get "memory is low messages".

Second: Access is via the Comsec site. The comsec login screen has the facility to direct where you will go when you log on. This facility is in the box immediately below the "Client Number" box. Set the option to "ComsecIRESS", then Login.

Once you have logged in the "Launch IRESS" button is on the right of the opening screen. Click on the "Launch Iress" button and Iress will (usually) load.

IRESS will open to a default screen. A tab will show at the bottom of the screen with a red X and "Default". You can create multiple tabs by selecting "Window" from the top tool bar and then selecting "New Work Space". When you create new tabs, always save your changes through the "Window" "Save Format" options (on the top tool bar).

Watch lists are created by selecting "Pricing" then "Quote" on the top tool bar. Add your shares and remember to save all your changes through the "Window" "Save Format" option. If you log out without saving the setup, you lose the lot.

Hopefully other posters will continue to add their comments and suggestions.
 
Forgot to mention that when you create a watch list, you need to name and save the watchlist using the "Watchlist" "Save As" option to the right of where you added the share in the quote window.
 
cutz said:
Hi Cuttlefish.

At risk of sounding like a d******* . I’ve been transferring stock out of one of my commsec accounts into another brokerage account, I have been doing this on the market placing the bid from my new account a few levels below and placing the ask through commsec a few levels down, then working up slowly in both accounts till the deal is done for a small spread effectively paying the brokerage, as you can imagine moving the ask up on commsec was pretty awkward. ( i didn't tell commsec tech support that)

I did this successfully over a period of a few weeks on four of my holdings, the 5th lot last Friday I got caught with my pants down buying but not dumping the commsec holdings due to what i feel was the delay in entering details for an adjustment. The market fell away slightly so being the stubborn person I am I waited for the price to recover but it didn’t happen.

As you can see my personality isn’t cut out to be a trader, that why I prefer options.
Click to expand...



I think you are pretty close to sounding like a d******** but we will let you off this time.... :)

next time you want to move stock to a different account dont sell and rebuy as you incur brokerage and bid/ask differential on less liquid holdings.

instead, approach your new broker and ask for a security transfer form - so easy... just need HIN and account number - somtimes they will want to see a CHESS holding statement.

later
 
Hi Smallprofits,

I was able to cross the first 4 trades for a tiny spread making smallprofits,:D effectively paying for brokerage, the 5th i sorted last monday. Please have a read of my post #28 on why i did it this way.
 
Smallprofits said:
I think you are pretty close to sounding like a d******** but we will let you off this time.... :)

next time you want to move stock to a different account dont sell and rebuy as you incur brokerage and bid/ask differential on less liquid holdings.

instead, approach your new broker and ask for a security transfer form - so easy... just need HIN and account number - somtimes they will want to see a CHESS holding statement.

later
Click to expand...

I agree with Cutz on this one! There have been some ASF members who did as you suggested when opening an account with IB and, if memory serves me correctly, it took weeks.

When you need that stock as collateral for shorter term option trading, you can't run the risk of having it tied up for days / weeks while the brokers blame each other for the delay.

I have never transferred holdings between brokers. Have always done it the same as Cutz and mostly, remained in control!
 
Thanks sails, :)

I reckon I would have been pretty stressed out waiting for my IB account to be topped up with margin not being able to trade for weeks.

I do run a second comsec account but even so not a good situation to be in.
 
I have read through this thread and both my husband and I have rung Commsec twice to find out how to set up dual screen using Iress. We have been using ProTrader and it was simply a matter of dragging what we needed across to the second screen, then when we saved it each time we logged on we had our dual screen set up. The comments back from Commsec Help Line were that Iress is not and can not be set up for dual screen. Has anyone been able to set up dual screen?
Thanks.
 
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