|
PureBytes Links
Trading Reference Links
|
In a message dated 8/5/00 7:02:43 AM Pacific Daylight Time, bkmk@xxxxxxxxxxxx
writes:
> Is it true that NASDAQ stops are activated off of the bid and not off of the
> last trade?
There are no stops on NASDAQ. Any such function is a handled by the broker.
> I placed a MM stop with Datek that was activated even though a trade never
> took place at that price. It caused me to lose a significant amount of
> money because the stock turned around before a trade took place at the stop
> price. They refused to block the trade stating it was NASDAQ policy to
> activate off the bid price.
Whomever told you this was blowing smoke since there are no NASDAQ stops.
> Datek's web site states that stop orders are activated when a trade takes
> place at the stop price. It does not mention bid prices nor does it
> distinguish between NASDAQ and other markets. When this was brought up to
> them, I was told "sorry for the inconvenience".
>
> Two additional questions:
>
> 1. Can anything be done as far as breaking the trade with Datek?
>
> 2. How can this be accounted for in TS? Since the system does not show
> that a trade took place, it screws up additional signals for the stock.
>
> Thanks,
>
> Barry
When you talk to a person at Datek their number one goal is to get you off
the phone, so they'll tell you anything to get rid of you. Demand to speak to
a supervisor and have lots of throat lozenges handy. Be prepared to do lots
of yelling, these people are from Joisey.
|