Welcome to StkyTreat

[IIC]

Stky, I recommend sticking with limit orders mainly, unless you really, really need to buy something (or sell it) immediately. Then you can at least be sure of the price you'll get. I've had the same problem trading with Scottrade as well, and probably everyone has it happen at some point if they trade often enough.

First, no communication link is absolutely fail-proof, so there's going to be some lag, just due to that, and a bad delay could be costly. (Or it could work in your favor!) But also, Scottrade's platform for the quotes isn't the best one out there, nor is it terribly accurate, especially during the opening and closing minutes, when things are just starting up. I believe people are involved in the system, too, and each trade needs someone in the broker's office to click an "approve" button for it to go through. You really should go into one of their offices one of these days to see how the system actually works- best way is when you have a gripe like you do now (just like when I did). The manager will probably show you what's going on behind the scenes and why you'll be out those nickels or dollars per share, and that it really isn't their fault you got reamed like that.

Again, best way to not get the shaft is to use limit orders. Scottrade won't give you the best execution on market orders, but hey, it's only $7 and you get what you pay for. Someday, when you're trading for much larger amounts, you'll probably want to graduate to a more reliable broker, but for now the extra $10-50 per commission probably isn't worth the occasional $1 per share slip-up due to your broker's poorly performing platform.

Good idea...Go into a Scottrade office...I've been in several MANY times...The manager has NEVER been in...The guys that work there are pretty much idiots...In fact, everyone I ever met was.

No offense Stickey...I was young once...But those guys that work there are fresh outta whatever...And they are pretty much clueless...I went one year with some checks for our tax accounts on April 15th...Guy says he cannot take them because there is a 3 day hold and they don't qualify....BS...Of course the manager wasn't in and of course I made a BIG stink...I made the guy get on the phone w/ someone in St. Louis...Who I also talked to too...3 mins...It was straightened out.

[jiesen]

This morning I put in a sell order for X dollar at 0633 pst but the order didn’t get executed until 0643 pst at Y dollar, a negative of 1.26 points. Ok, I called Scottrade trade and asked them why it took 10 minutes for the order to go through? First I was told “you sound young” and I was told that was the time the stock started trading. I don’t understand, NYSE opens at 0630 pst and that stock was trading at 06:30:01 pst.

I was thinking during lunch maybe at 06:30:01 this morning that that stock was trading at a different exchange and didn’t start trading at NYSE until 0643? If this is true, is this the norm? Any thoughts anyone?

Stky, I recommend sticking with limit orders mainly, unless you really, really need to buy something (or sell it) immediately. Then you can at least be sure of the price you'll get. I've had the same problem trading with Scottrade as well, and probably everyone has it happen at some point if they trade often enough.

First, no communication link is absolutely fail-proof, so there's going to be some lag, just due to that, and a bad delay could be costly. (Or it could work in your favor!) But also, Scottrade's platform for the quotes isn't the best one out there, nor is it terribly accurate, especially during the opening and closing minutes, when things are just starting up. I believe people are involved in the system, too, and each trade needs someone in the broker's office to click an "approve" button for it to go through. You really should go into one of their offices one of these days to see how the system actually works- best way is when you have a gripe like you do now (just like when I did). The manager will probably show you what's going on behind the scenes and why you'll be out those nickels or dollars per share, and that it really isn't their fault you got reamed like that.

Again, best way to not get the shaft is to use limit orders. Scottrade won't give you the best execution on market orders, but hey, it's only $7 and you get what you pay for. Someday, when you're trading for much larger amounts, you'll probably want to graduate to a more reliable broker, but for now the extra $10-50 per commission probably isn't worth the occasional $1 per share slip-up due to your broker's poorly performing platform.

[IIC]

I put in a market order. ok, I didn't know that backed up overnight orders are placed, that could be the case. thanks

Market order...it happens sometimes...You can complain but I wouldn't count on getting anything.

I have 4 accounts at Scottrade...I remember when their site was down once and it said to call...I called and the lines were busy...I complained and they gave me 20 free trades(5 each account)...But that wasn't much although the stock I was trying to sell actually went up during that time....So it worked out OK.

But in your situation...I doubt there is anything you could get...But it doesn't hurt to try.

[billyjoe]

Can I make them compensate for my lost? 10 minutes to execute a trade is kind of excessive, don’t you think? The longest was three minutes.

Sticky,
I get nervous if it takes 1 minute. Get a relative or friend with a deep voice to represent you and ask them how they are going to make up for your loss and tell them the exact dollar amount. They don't want to lose you as a customer if they've got any smarts.

-------------billyjoe

[JohnHenry]

I'm not sure I know exactly what you are saying. Did you put in a limit order or a market order?

Normally...Non-Nasdaq stocks do not really open at 6:30am Pacific (BTW...it is still PDT)...Sometimes what you will see, especially on the NYSE and AMEX, are backed up overnight orders trading before the stock actually opens for the new day.

Generally...But not always...I wait till 6:50am Pacific to trade.

I put in a market order. ok, I didn't know that backed up overnight orders are placed, that could be the case. thanks

[JohnHenry]

Sticky,
I had the same problem with scottrade in Ohio and I dumped them. Almost identical to yours. Don't place any market price orders with them. Have never had the problem with Muriel Siebert although it costs me more.

-----------billyjoe

Can I make them compensate for my lost? 10 minutes to execute a trade is kind of excessive, don’t you think? The longest was three minutes.

[IIC]

This morning I put in a sell order for X dollar at 0633 pst but the order didn’t get executed until 0643 pst at Y dollar, a negative of 1.26 points. Ok, I called Scottrade trade and asked them why it took 10 minutes for the order to go through? First I was told “you sound young” and I was told that was the time the stock started trading. I don’t understand, NYSE opens at 0630 pst and that stock was trading at 06:30:01 pst.

I was thinking during lunch maybe at 06:30:01 this morning that that stock was trading at a different exchange and didn’t start trading at NYSE until 0643? If this is true, is this the norm? Any thoughts anyone?

I'm not sure I know exactly what you are saying. Did you put in a limit order or a market order?

Normally...Non-Nasdaq stocks do not really open at 6:30am Pacific (BTW...it is still PDT)...Sometimes what you will see, especially on the NYSE and AMEX, are backed up overnight orders trading before the stock actually opens for the new day.

Generally...But not always...I wait till 6:50am Pacific to trade.

[billyjoe]

Sticky,
I had the same problem with scottrade in Ohio and I dumped them. Almost identical to yours. Don't place any market price orders with them. Have never had the problem with Muriel Siebert although it costs me more.

-----------billyjoe

[JohnHenry]

Question

This morning I put in a sell order for X dollar at 0633 pst but the order didn’t get executed until 0643 pst at Y dollar, a negative of 1.26 points. Ok, I called Scottrade trade and asked them why it took 10 minutes for the order to go through? First I was told “you sound young” and I was told that was the time the stock started trading. I don’t understand, NYSE opens at 0630 pst and that stock was trading at 06:30:01 pst.

I was thinking during lunch maybe at 06:30:01 this morning that that stock was trading at a different exchange and didn’t start trading at NYSE until 0643? If this is true, is this the norm? Any thoughts anyone?

[IIC]

Ok, I do not understand this stock. My question is: the stock is down a bit on low volume today. Does this means only the little guys are selling and the big boys are watching on the sidelines and would this be a good entry if real $$$ was to take place?

The euphoria is subsiding...Time to read as much as you can about this outfit...I've read about as much as I want to read about it since last Thursday(for now anyway)...Some Good...Some Bad...It will take a while to see how it all pans out.

Will it be the next BIDU as Cramer said?...I have no idea...But BIDU took quite some time to prove itself.

Are the accounting weaknesses that the company said they are working on (like the ones that LFC disclosed early) or are they worse???...I don't know.

Will they remain a Gov't favorite???

Will the fact that they say they may have to lower prices due to increased competition affect the stock price.....???

Or will they just run away w/ the Chinese Smart Card Biz????????????


At over $50 share you have a lot of DD to do...Best, Doug(IIC)

[JohnHenry]

Stv

Ok, I do not understand this stock. My question is: the stock is down a bit on low volume today. Does this means only the little guys are selling and the big boys are watching on the sidelines and would this be a good entry if real $$$ was to take place?

[JohnHenry]

I have good news and bad news.

The good news is that I found the link.

The bad news is that it doesn't work anymore.

http://ibd.infostreet.com/won/

However, here is a section of their site that is free that you may want to read:

http://investors.com/vip/

Sorry...Doug(IIC)

Yes I know the link doesn't work anymore but thanks for the other links. I went to B&N yesterday and picked up the book for ten bucs.

[IIC]

Hey Iceman

Do you still have this link? I would like to do some more reading but the link is broke.

I have good news and bad news.

The good news is that I found the link.

The bad news is that it doesn't work anymore.

http://ibd.infostreet.com/won/

However, here is a section of their site that is free that you may want to read:

http://investors.com/vip/

Sorry...Doug(IIC)

[JohnHenry]

Lye suggests asking for The 24 Lessons book...But that book is based on a 26 week series that IBD ran back in the late '90's called 26 Weeks To Investment Success which I just happen to have in my back pocket... http://trimurl.com/545

Hey Iceman

Do you still have this link? I would like to do some more reading but the link is broke.

[JohnHenry]

Has a price target of $28 on PnF chart, but could go lower. Ugly daily chart.
Dow Theory on the daily says she may hit all the way down into the $18 range. Yup. Weekly says the same thing. BTJ is a short right now. Cut your losses.

Yea I notice that too. Thanks NBB and Jiesen for the FB.