LastShadow's Position Trading Message Board

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Strategies & Market Trends : LastShadow's Position Trading

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To: Thomas Sterner who wrote (3205)	11/26/1998 10:59:00 AM
From: Paul A	Read Replies (5) of 43080

after cutting my profits in half this week thanks to Ameritrade, I had to laugh even harder when they refused to correct my trades saying they are now allowing the market makers 5-10 minutes to fill market orders due to the volume on internet stocks. This means, when you put an order to buy cool at $30, and it runs to 40, chances are the market maker is going to fill you around $38-40.. and the same works on the sell side.. I purposely put a sell order on cool when it was running the other day.. well, the fill took 15 minutes and they filled it right at the top.. gee.. how weird.. forget about limit orders.. theyll be filled only if the stock moves well past that price. I expect serious lawsuits to evolve from all of this b.s. but until than its hell if you made the mistake of going thru ameritrade. IMO people are being robbed but the question is, who is guilty? ameritrade or the market maker? and should there not be a warning when placing a market order that the execution may take 10 minutes? I saved the email sent to me by their customer service dept, because I simply cannot believe they can be allowed 10 minutes to execute a market order.. very sad..

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