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: henry jakala who wrote (10063)	11/3/1998 12:03:00 PM
From: Michael Elizabeth Chastain	Read Replies (2) of 16892

I have seen ghost orders, too. I have put in limit orders on slow-moving stocks in the middle of the day (some as slow as 10-20 trades per day). My order goes unfilled, while someone else gets a trade at the same volume and price as my order within one minute. I have seen this more than once, in more than one stock. More and more, I am coming to regard Datek trading as akin to selling naked put options. I realize a little bit of savings with each trade, but I'm exposing myself to hundreds of dollars of risk on their unavailable servers and strange order execution. I'm going to start looking for another broker.

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