Momentum Daytrading - Tricks of the Trade Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Momentum Daytrading - Tricks of the Trade

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Ken Wolff who wrote (1125)	6/19/1998 10:27:00 AM
From: Melissa McAuliffe	Read Replies (2) of 2120

Can someone please help me out here. I think I need to find a new broker. I've been using DLJ Direct and I am having problems with executions...among other things. Maybe what happened today has to do with the fact that I was trying to short a heavily traded stock, I don't know. But it seems that every time I try to short anything (which really isn't that often) this happens. I tried to short seek today at when it was around 33 1/4. This was after the open and after the first pullback (hope this is the right term). Anyway, my order just say and didn't get executed. Iwatched the stock go all the way to 30. Around 31 1/2, I cancelled my order. At the same time I called DLJ Direct and they couldn't even tell me whether it was executed or not. It's now 30 min. later and I still don't know but I doubt it. Anyway, there has to be a better way than this. Plus, these people have an attitude big time. Is this a common problem when trying to short?? Or is this just DLJ. Something else that happened the other day.. I was trading seek and tried to buy it on margin. DLJ doesn't even let you use margin to buy this stock. I checked w/Fidelity and they do which I found very intereseting. So I got in trouble because I used cash and didn't have enough so they said I was freeriding. I actually had to send them more money to pay for my trade (which was closed out within an hour) or else they said my account would be restricted, even though by the time I had to send them the money I had enough money in my account to have paid for that trade and more. Now I have to get the money out of there which is just one more waste of my time. Plus, another problem w/them is that if you do any options trades, you cannot trade the same option that day without calling them on the phone to place your trade. And you don't get through to a person instantaneously.....EVER. As you can tell this is very frustrating. I am definitely getting rid of DLJ but want to know that whoever I change to doesn't put me in the same situation. Alot of this is new to me so I'm sorry if these questions sound simplistic but I definitely need some advice here. I'm not even concerned with 1/8 point differences in execution prices. I'm concerned with execution in general. Thanks. Melissa

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next