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Gold/Mining/Energy : Day trading in Canada
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To: the Chief who wrote (1191)11/16/1998 1:44:00 PM
From: Andri Bourassa  Read Replies (2) of 4467
 
Thank you for your excellent article.

Another problem with Investor's line (in the french version at Montréal at least) is that every internet order is manually entered in their computers. They told me that the whole process takes about 1.5 to 2.5 minutes and top priority is given to "at the market" orders.

Theorically, if any problem is present with your order, they can call you but cannot contact you on your computer. If you only have one phone line... it is a problem.

I once did sent an internet sell order on OEX options at 16:07
only to find out it wasn't executed because the markets were closed...

I wonder if the person that was supposed to "manually" enter my order knew that that market closed at 16:15. Looking at my computer screen, the last option transaction that day (same month and strike price) was done about 5 minutes after I placed my order. It is sad to say that the next day that option was way lower...

And then, the confirmation isn't available on the net... so you must leave the net, phone the bank, wait 5-15 mins with the nice music and then get your confirmation. I find it very hard to sell when I don't even know at what price I bought. Selling being harder than buying and even more time sensitive makes me wonder why I should trade at all.

Once I establish a US account... remembering the type of service I got in Canada, what these people will have to do to get my confidence and account back?

Thank you again for your excellent article.

André.
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