SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Non-Tech : E*Trade (EGRP) Suggestions (NOT FOR FLAMES!!)
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Harry W. Lowe who wrote (79)10/8/1997 11:58:00 AM
From: Mikhail Rasolis   of 118
 
Hello, Harry.

Thank you for your reply.

If you "can't see anything wrong with this transaction" you might want to read some books about the securities industry.

"A limit order is an order to buy or sell a quantity of a security, but only if the client can get a specific price or better" - this is from STOCKS BONDS OPTIONS FUTURES by New York Institute of Finance.

OR BETTER is very important here. Broker should do his best to fill your order at the better price. E*TRADE recognized that and adjusted my execution to 1 13/16. That save me $62.5 and doesn't look like a big deal but imagine the following:

TRBR closed yesterday at 13 3/16 and you placed a limit buy 1000 shares at 13 1/8.Today TRBR opened at 10 and according to you since "you have instructed your broker to place a limit order on the market makers (MM) book for that and price only ..." your order is not executed and there is nothing wrong about it. N days later your order is executed at 13 1/8. It cost you $3125 more than if it was executed at 10. Do you think it's the way it should be? And what about the investors who had Market Sell orders and received $10 per share when you were ready to pay 13 1/3 - is that the way it should be?
Remember, we not talkig about Stop orders here.

Sincerely, Mikhail

PS. I have no position in TRBR, I used it just as an example.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News