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Non-Tech : Ameritrade

AMTD 1.030

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9:45 AM EST

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To: Roland Ott who wrote (116)	4/21/1998 5:57:00 PM
From: Sowbug	Read Replies (2) of 513

Ouchie, ouchie, ouchie. Latest Ameritrade story: 9:40 a.m. Place market order for 200 MARG at market. Ask reported at $16 on the order confirmation screen. 9:40-10:00 a.m. Watch bid hover at $16-$18 for about ten minutes and then rise to about $27. I haven't gotten a fill report, but I know the trade must have executed, so I put in a sell order at $34. Noon (2 hours, 20 minutes after trade entered). Confirmation of MARG purchase at $25 1/4. I change my sell order to $27. Afternoon: bid hangs above $27 for about half an hour. 4:00 p.m. MARG closes at $23. 5:25 p.m. (1 hour, 25 minutes after market close): I finally get report on my sell order: Sell at $34, expired. My $27 sell order was apparently simply ignored. Net gain if trades had been executed correctly: $2,179 (200 x (27-16) - 8 - 13). Current paper position with Ameritrade's late and erroneous executions: a loss of $458. Difference: $2,637 on a single trade where I intended to risk about $3,200.

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