All my bad experieces always occur at the open or near the close....what is infuriating, is that sometimes I just call in my order over the phone because I anticipate the server not working, and even though Datek takes your order and says it is placed quite often it is NOT. They claim it is router problems. Well any other broker on Wall Street will honor a trade if it was legitimately placed and 'time and sales' data determine I deserve a fill. I use 2 other brokers, and believe it or not I have had problems with them also. BUT when I call to complain, a manager will TAKE the call, check the 'time and sales' of the day and, get this, GIVE ME THE FILL IF I DESERVE IT. Datek will NOT do this. Case in point , at my other broker I placed a short sale order on a DOW stock, the market trades bid through that level and then collapses 1 1/2 points....this all happens in 10 minutes. Meantime I call them to get fill and get nothing. 10 minutes later a manger is checking time and sales window, and calls me saying "yes you are deserving of a fill, it was our fault your order was not properly routed due to systems problems", and they ATE the trade and gave me my short 1 1/2 points above the market, plus 2 free trades for the inconvenience.....Daytek will laugh at you and tell you "tough, you signed an agreement".....well, lets see if that agreement holds up at arbitration. I think what datek needs is a little black mark Or several for that matter, on their record and enough angry traders barking at their heels, so that they dont treat us like sh-t! We pay them huge amounts of brokerage and we cant even get a legitimate fill! BULL! I am not talking fast market trades or anything like that. Just a run of the mill market order lost, and then the market moves away 10 minutes later and you dont even know its lost, until you call and they say "sry, nothing we can do about it". All the time it says "sent" or "entered" on my screen. CRAP! If the datek system cant handle the business they are generating then they should be FORBIDDEN from advertising for more , just like AOL was when they could not handle the flow of customers. I dont even get quotes from Datek. I get them from a real time feed of my own, All I need is to EXECUTE a trade. NOT be EXECUTED by Datek! As for all the jokers out there placing one trade a week and getting 400 million quotes aday GET THE F__K out. And Datek should be throwing you out. If servers were the least bit reliable I could be making 20 trades a DAY and not needing the quotes....I say get rid of the blasted damn quotes and give the traders the only thing they need! EXECUTIONS. RELIABLY, and own up to your F--K ups! and honor trades like a real broker!
There , now I feel aaaaallllllll better......;^) |
