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Gold/Mining/Energy : ARP - V Argentina Gold
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To: akpirate who wrote (2227)1/27/1999 11:05:00 AM
From: Char  Read Replies (2) of 3282
 
J roberts

There is one caveat with Waterhouse that I would like to point out as it may affect your trading. This has happened to me several times.

Say I want to buy 5000 shares of a Canadian stock. I do the currency calculation and figure the conversion for the ask price to be $2.48 US. I'll put in a buy order for 5000 shares @ 2 1/2. I get confirmation back that I bought 2000 shares before they jumped the price up. The order remains open for the other 3000 shares. A few days later the stock drops and I figure the new ask price is $2.40 yet my order to buy at 2 1/2 still isn't getting filled. I'll go in and change the order to a market order and get filled at $2.40. It's like they try to fill the order initially and after that they forget to check on it to complete the order. I have had the same thing happen on sell limit orders. I don't normally like to use market orders but I do occasionally with Waterhouse. Waterhouse is tied in with Greenline and they usually get pretty good fills with market orders on Canadian stocks.

I have done market orders with E-Trade and the fills are usually worse than I get at Waterhouse. About the only time I will place a market order with E-Trade is if I really want to get out of a stock and my limit order isn't filling.

hope this helps.

Char
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