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Non-Tech : Waterhouse Securities
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To: T.R. who wrote (315)2/24/1998 1:23:00 PM
From: John M. Hammer  Read Replies (1) of 2076
 
TR,

The price range limit for entered orders is not uncommon for electronic brokerages. The reason they impose this is to prevent a user from totally screwing themselves by entering an incorrect price.

Example:
Sell MSFT at 15.
Woops, I meant sell MSFT at 150!
<TRADE CONFIRMED, you sold 1000 shares of MSFT at 15>
AAAAAAHHHHHHHHHHHH!!!!!!!

John
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