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So don't use market orders. Use limit orders. Sheesh, what's so hard to
figure out about that?
As far as Datek flim-flam, have you ever asked them how orders are filled? I
did, and got the answers. I'm not special, I doubt they would tell me the
truth and lie to you.
In a message dated 5/3/99 5:30:11 PM Pacific Daylight Time,
jallen7@xxxxxxxxxxxxx writes:
> Read my post again. I had market orders take 20 minutes to fill, and
> priced orders were rarely filled as quickly as vendors imply, seldom in
> 30 seconds. Using serious professional tools, many traders can be in
> and out in less time than that.
>
> I think that it is much more common that you can be serious about
> trading, hunt for what suits your needs, get flim-flammed by marketing
> sunshine, realize what is being offered doesn't work like the illusion,
> and move on. As far as our experience showed, Datek was not adequate
> for serious professional use.
>
> What a great day it will be when the software merchants are made to
> match what is IN the box with what is on the OUTSIDE of the box.
>
> Jim Allen
>
> Sigstroker@xxxxxxx wrote:
> >
> > Read my post again. I said limit orders. I said nothing about market
> orders.
> > Market orders are Selectnet broadcast. I used the Express page which
needs
> no
> > confirm. If you're serious about trading, you have to make the effort to
> find
> > out how your chosen system works.
> >
> > In a message dated 4/30/99 7:57:04 AM Pacific Daylight Time,
> > jallen7@xxxxxxxxxxxxx writes:
> >
> > > Experience suggests otherwise. One has to type in the order, then
send
> it,
> > > then fill in the super-secret password, then wait while that goes
> through.
> >
> > > 20
> > > minutes to get a market order filled?? I don't recall ever seeing a
> fill
> > in
> > > less than 30 seconds and most of the time longer than that... if you'
> re
> > > doing
> > > it, great, but we never could get it to work that way.
> > >
> > > Jim Allen
> > >
> > > Sigstroker@xxxxxxx wrote:
> > >
> > > > Say what?? Delayed while a computer checks your password? Like for a
> > > > hundredth of a second? Nasdaq limit orders are either instantly
> filled or
> > > > posted on ISLD, the most liquid ECN there is. Unless they're having
> > system
> > > > problems, it's all accomplished in 5 to 10 seconds.
> > > >
> > > > In a message dated 4/29/99 3:02:27 PM Pacific Daylight Time,
> > > > jallen7@xxxxxxxxxxxxx writes:
> > > >
> > > > > Your orders are routed to their trade desks, not directly to the
> floor,
> > > > > so they can screw you on the fill, I believe. Every order is
> delayed
> > > > > while the computer checks your password, which you must enter
each
> > > > > order, and status of your account. For active traders this is
> > > > > unacceptable.
> > > > >
> > > > > It's for amateurs, not professional traders.
> > > > >
> > > > > Jim Allen
>
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