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Strategies & Market Trends : DAYTRADING Fundamentals
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To: funk who wrote (4553)10/2/1999 4:58:00 PM
From: KM  Read Replies (1) of 18137
 
<<They have an absolutely wicked trading desk for times you want to call in a trade... MBT is the standard by which the others are measured. Some people hate that, but that's the way it is... Only one can be the best though.>>

Au contraire, mon ami. I have been with MBT for nearly a year, and while they have their strong points, that ain't one of them. I have had to call in to trade at times when the data froze and have had the following experiences:

a) being put on hold for five minutes or more while the stock I want to sell or buy moves away from me.

b) having them take an inordinately long time to go over the order with you while again, the position moves away.

One time this spring, I was trying to get out of NSOL while it was dropping like a rock and the data had frozen. I had to call two or three times before I could get through. Then, I was put on hold for a few minutes. Then, the trader took forever to get the order placed. Bottom line: it cost me three points on a 700 share position, not chump change.

On other occasions, I have had to call in and gotten an order done fine. It's a bad situation when you have to call in though to get out of a fast moving position.

That's JMO and I have no experience with any of the others to compare.
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