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Non-Tech : Online Broker Down - Sue 'em - EGRP, JBOH, AMTD, SCH, NDB
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To: Shoot1st who wrote (86)2/8/1999 12:19:00 PM
From: redbird  Read Replies (2) of 253
 
Today. I bought MTMC at 9 9/32. I tried to sell at 10 1/2, but the ETRADE powertrade system told me "The market is closed, your order will be completed on open tomorrow" or words to that effect. This is at almost 9:00 EST. I canceled and put in another sell. Finally, the system responded that the sale had gone through at 10 3/16. In the mean time, the stock went up to 11 1/8 and I got another sale. I called and tried to explain the mistake, but was informed that I could put in ANOTHER request for ETRADE to fix their mistake, but in the mean time the error was mine. While we were talking the stock went below 11 1/8 to 10 3/4 so I said sale. It paid for the commission and I made a few bucks.

4 other times Etrade has made mistakes with my account or given me a market order 4 minutes after request, so my experience is 1 out of 5 errors resulted in profit. 3/5 resulted in substantial losses. 1/5 is under review (doubled my money,but they lost the sale).

Redbird.
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