|
PureBytes Links
Trading Reference Links
|
Earl wrote:
Another good lesson for those using electronic trading systems ... never,
ever, ever, ever, depend on anything but printed documentation of each and
every trade which includes the reference/confirmation number of the trade
together with all other particulars even if you have to initiate the print
manually. And save them until you've matched them to the confirmations you
receive in the mail.
Earl, I don't know if you trade mutual funds or; familiar with Fidelity's
FOX+ software?
After placing a trade electronically, a confirmation number appears in one
of the
boxes in the order screen. Fidelity told me that I could be assured that
when a number
appeared the trade went through on the other end. All I needed to was to
keep that
reference number. I got badly burned by Fidelity on a trade one occasion
when I
could not access their web site and could not get FOX+ to accept my trade.
The
third backup also failed. If you are a Fidelity customer read these words
very carefully.
DO NOT DEPEND ON FIDELITY TO ANSWER THEIR PHONES BEFORE THE CLOSE.
THEY CANNOT BE TRUSTED. I was put on hold for eight (8) minutes and when
the
rep picked up the phone; the market had closed and nobody in authority
would accept
my trade. Needless to say I was very bitter over this experience. My
fourth backup now
is thier touchtone express; which presumeably(sp) handled all calls during
the crash last
October. My problem was that I had nothing but positive experiences with
all mutual
fund companies prior to that time. Never once, did any fund family fail to
anwer their
phones prior to closing. I figured that since Fidelity was the largest;
their phone system
was at least as efficient as the others. NOT SO. Everything at Fidelity
is for THEIR
CONVENIENCE not the customer. That trade cost me over 2K. Very
frustrating because
there wasn't any recourse on my behalf. Looks like I need to find out how
I can print
a hard copy of the confirmation numbers that appear in the software. How
else can I
prove I placed the trade?
Charles
|