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Strategies & Market Trends : Daytrading Psychology
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To: Technopeasant who wrote (30)12/1/2000 8:37:23 PM
From: rocklobster  Read Replies (2) of 104
 
I'm coming to think of market makers as criminals..LOL

I had a all or none sell order in on 5000 shares of a stock because I didn't want them filling a 100 shares and the market makers traded nearly 30,000 shares totally above my price... I called my broker to ask him what was going on and he said he was sitting on my order till he got a buyer that could take all the shares.. I asked him why my order wasnt being represented in the market? why was the market trading 1/4 point above my limit sell? and he said he wasnt required to represent an all or none order on the books. I was so pissed and he sat there and castized me for placing this kind of order, as if they should have the right to do whatever they want with my shares or they're not going to fill me unless they damn well feel like it regardless of where the stock trades... That was at Schwab and I can tell you, I moved my account immediately after that..

rok
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