Datek Brokerage $9.95 a trade Message Board

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Non-Tech : Datek Brokerage $9.95 a trade

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To: wmwmw who wrote (3356)	6/20/1997 10:33:00 AM
From: Fred Puppet	of 16892

[ You are Responsible ] Wang was asking who is responsible for a loss resulting from a slow execution at Datek. You are responsible because you opened the account at Datek and you placed the order. Imagine someone who uses a hammer to drive in a screw. They will probably destroy the object that they are trying to fix. Who is responsible for this loss? Think of each brokerage as a tool that you can use for your trading. If you use the wrong tool, don't blame the tool. If you need an order executed between 9:30 and 9:45, Datek is the wrong tool. At other times of the day, for certain types of traders, Datek is the best tool. What good is a toolbox with only one tool? If your single tool isn't right for the job at hand, is it the tool's fault? If Datek is your only broker, who is responsible? A good trader has a fully stocked toolbox and has learned to master each tool for specific uses. Poor traders try to bang everything with a hammer, and then complain on SI that they have a lousy hammer.

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