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Non-Tech : Datek Brokerage $9.95 a trade
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To: David Rubin who wrote (3205)6/13/1997 12:20:00 AM
From: AlienTech   of 16892
 
>> I don't argue that DATEK has some problems to fix...

But I prefer to give them a chance to fix them. They've put together a really nice system, in time the kinks will be worked out. This pretty much goes for all the on-line traders, from what I've read. <<

I WAS giving them a chance to fix! I would have made 125 bucks if the stuck order was reentered by me even as a market order but I waited to tell them there was a problem. Even with 2 order I would still have made 100 bucks more than my original order was worth. Or even after the confusion I could still have gotten 65 bucks more than my original order since it stayed at the 20 level for over an hour.
I thought I mentioned this. That the bid went higher than the limit I placed thing. Just re entering it as a market order would have given me a better price. They also kept telling me to do this, ie place a market order since the bid was still higher than my ask price! But I kept telling them thats not the problem,
The problem is on an order which gets fragmented and the bid goes higher the order dosent get executed or sent untill the price come DOWN. You have to be real stupid or a market manipulator to want the price to come down for your order to execute for the 2nd half rather than get a better price.
You have the same problem on a buy when the bid goes lower than your limit place in the middle of a fragmented order.
ITS A REAL SIMPLE FIX! I dont think its very hard to do when you deal with a large order that gets fragmented rather then currently where each fragment is considered a new order and the orders are not cross checked to make sure there is a better price.

ps.. The problem with your order not getting executed when your ask dosent reach the bid seems to have been fixed. ie if you say you want 20 and the bid is 19 3/4, Your order does show up on isld unlike before where it didnt get sent untill the bid got to 20..
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