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Non-Tech : Fight The Power! -Your Broker Just Screwed U - Now What?
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To: Jim S who wrote (266)1/26/1999 10:38:00 AM
From: rlp66  Read Replies (3) of 323
 
Hi Jim,

I agree. The order was filled and he had no way of knowing because of Fido's slow reporting. When you use a broker that is really not set up for "daytrading" sometimes your account is not timely updated. I have had the same problem with Webstreet and they are supposedly a "daytrading broker". It is very frustrating when you enter an order, the stock begins to go south and you can't close the position because your account is not updated for 20 minutes or longer. I have lost over $8,000 due to this problem.

My solution is to move to a trading program like cybertrader, Realtick III, JTrader, or some other system designed to deal directly with an exchange or ECN. I am personally trying Realtick III through 1800DAYTRADE for now.

Do you have any experience with any of these systems? If so I would appreciate some feedback. I have been researching them for a few months and it is hard to find independent analysis of the systems and companies offering them. Most sites (for instance Gomez Advisors, Barrons, and Smartmoney interactive) give reviews of the online brokers but say nothing about these trading systems.

Please let me know if you have seen any reviews of these companies. A few are MBTrader, 1800DAYTRADE, Cybertrader, Castle Online, and AB Wately.

ray
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