e.Digital Corporation(EDIG) - Embedded Digital Technology Message Board

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Technology Stocks : e.Digital Corporation(EDIG) - Embedded Digital Technology

EDIG 0.0001000

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Mar 20 5:00 PM EST

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To: J.N.N. who wrote (10291)	1/28/2000 6:07:00 PM
From: Steeliejim	of 18366

I can tell you what happened to me at SCH, and how the SCH rep explained it. May be different elsewhere. Market orders are put behind limit orders except the first chunk, up to 500 shares, which is executed almost immediately at the ask (SCH calls it "auto-execute"). "Immediately" can be up to 5 min. at SCH since it sends the order over to a MM and can "review" it before it is sent (BTW you won't find the 5 min delay in your disclosure. It doesn't always happen, but it happened to me just enough to really screw up some trades.). The execution will be at whatever price at the moment your shares' turn occurs. Then there's the confirm delay, the time lag between the execution and the word getting back to you. So, in a fast moving stock, with little liquidity, the execution price can easily be any number of points away from where you put in your order. BTW, that's one of the reasons I left SCH. I'm much happier at DIR, although even it's not immune to lags that can blow by your limit, up or down, buy or sell respectively. Still, I much prefer limit orders. Jim

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