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Non-Tech : JB Oxford, Lombard, Etrade
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To: Randall Thomas who wrote (129)12/18/1996 12:20:00 AM
From: Randy McWilliams   of 396
 
I have been screwed up by Etrade with cancellations also. However, my trades are usually 1000 shares or less. I put in a buy or sell and sometimes they are so slow that the price changes before I am notified of an execution that then I go and try and cancel the trade. However, I get no feedback immediately whether the transaction is really cancelled. I wait. I put in another trade assuming the first is cancelled and then find out much later sometimes both of my trades were executed. Etrade's slow execution and notification has seriously interfered with my ability to trade. I am trying to use them now for only longer-term trading rather than day trading.

Datek's execution is fast and when I cancel a trade I am notified almost immediately that the trade is cancelled. That is the way it should be. Etrade does not do it in that manner. And on high volume days, well, just forget it with Etrade. Etrade is fine if one only trades a few times a month or week. In my opinion.
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