On those Herzog orders you thought you weren't filled on... Well you might just own them, or be short, as the case may be.
On certain Herzog reports, especially on 100 share fills followed by nothing, you are actually filled, even though they haven't told you about it.
Just wait 2-3 days and they'll let you know.
Already happened. Traded in and out of CMTN 5 or 6 times about 2 Fridays ago. Each and every time my orders would get routed to HRZG I'd get screwed (I think that was a day when everything got routed to HRZG unless you hit an ask or bid directly with Level 2 and let it go Selectnet). So each and every time my orders got routed to HRZG, I patiently waited while HRZG would not fill and then as soon as the inside Bid/Ask moved away (without a fill), I'd cancel the order.
Now, knowing the trouble that this has been, I would wait until I receive the RED confirmation of cancellation by broker before I'd proceed with another trade. I might add that HRZG takes their sweet time getting that notice to you as well. All the others notify almost immediately, but not that mickey mouse outfit who has blacklisted Mytrack customers - HRZG.
The following Tuesday afternoon I bring up account summary and my buying power is reduced by some $8k+ from what it was 15 mins earlier. What??? I look in positions and low and behold 100 shares of CMTN showed up in my account that hour. Hadn't traded CMTN since the Friday before and carefully exited all of my positions before EOD (crazy market, ya know).
Called Mytrack - Won't get into that but said I disputed the position, I had been notified of the cancellation and I wanted it investigated and told why the shares were in my account and why it took 3 days to magically appear in my account. Yada, yada, we'll have someone get back to you by email or by phone.
Still waiting (it'll be one week tomorrow). No add'l response or explanation. Wasn't there a TRAC news release that said they would eat orders that were confirmed cancelled but HRZG tried to screw their customers on?
Thanks to the market recovery of late I was able to sell those shares about a week later at a small profit since I felt Mytrack was doing nothing to rectify the situation - I sold them.
They still have a serious shortage of help there or a serious shortage of help that cares. The last 3 or 4 requests or comments I've sent via Telltrack have gone unanswered (some for 2 months now).
Now that my orders are routing to NITE - no more problems like that and I am much happier. Amazing.
Mytrack still has problems addressing customers, though.
Mike |
