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: James Mortensen who wrote (1020)	1/24/1997 3:06:00 AM
From: Bill Edwards	of 16892

What do I like. That Datek is fast and I can get connected. I have put my orders in overnight and bingo sold at market at the start of the opening bell. It is a very good test to see if any large fish are biting. You call tell straight away if there is any demand for your stock and how prices are moving. But the real test will be in a market melt down - if Datek can handle the flow. People have mentioned that with other online brokerage firms when there has has been big movements in the DOW 100-150 point drop (program selling creating the volatility) that they have had difficulty getting connected. People have complained that they have sold at market and have been waiting a long time. From my experience and knowledge there is a priority queue. If you put your orders in overnight, you are higher up on the food chain. I have had cases where an institution wants your stock real bad and other times "nothing" they don't want to know you. I am talking stocks in the 100 most active volume list. I like the fact that I can buy and sell same day and my money isn't on hold. That I have immediate access to those funds. My philosophy is "KISS" = Keep IT Simple Stupid. Datek should and in my case make it simple enough so that a 10 year old could can buy or sell a stock using their interface. Better not tell them I'm 10 years old :-) I don't need anyone to hold my hand. If someone want those fancy graphs, charts, information etc on their stocks and it slows Datek down then I don't want it! You can find all this other stuff elsewhere on the internet or with another brokerage firm. I know from experience that it slows the network down. So now when I make a bad trade and lose money - I don't have the broker to blame. I can blame the computer instead, never me of course :-) No I haven't withdrawn funds yet. Datek will allow you at some point in the future to do it yourself over the internet. They are setting up this option interface where you can withdraw funds which suits me fine. Last but not least the commission is cheap. What I dislike. Is is their customer servicing. It needs to be improved. Datek should have some veracity. What don't they say we are "under resourced" or we are "busy at the moment with all the enquires." Not `We will get back to you" which is the worse thing you can say to a customer. The customer is not stupid, they will march with their feet if they don't get any satisfaction. And I do know this, one unhappy customer will tell 10 people and that is 10 potential customers that Datek has lossed. As Sam Walton used to say the largest retailer in the World known as Wal-Mart " At the end of the day, the customer is your boss" What else do I hate - having my name at the top of this list. Silcon Investor has altered my spelling (obsessive compulsive if you ask me) fixed it which I disagree with, without my consent. I believe in the freedom of speech and it tells me Silicon Investor can do whatever they like - meaning if you say anything they don't like your history. So they can certainly remove my name at the top of the list and have someone else do the marketing. Perhaps Peter Stern should be at the top of the list :-) he..he..he When do I get my cheque in the mail for marketing Datek Peter ? :-) I have a sense of humour besides you, on this thread!

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