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Non-Tech : Datek Brokerage $9.95 a trade
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To: Evan Dimmer who wrote (11335)3/24/1999 12:45:00 PM
From: Sir Francis Drake  Read Replies (4) of 16892
 
Yes, actually the executions have been pretty bad both yesterday and today - at least in my experience. I traded MSFT pretty intensly, but I stopped today.

The problems have been in both execution and cancelling. First the order doesn't execute - even though I see on LII (and I look at the ISLD book) - that shares appear available at my price. So, once the stock moves away from my price - I cancel in order to resubmit. Well... it says "cancelling.." for up to 1 minute - as if it's waiting for a reversal... which happens, and then it executes me! So, I end up with a loss. Meanwhile if it were to go in my direction, the opposite happens (even though my price is better than the inside - I don't get executed - this on MSFT, not some low volume small cap). Weird the way it holds on to the "cancel" as if trying to suss out the direction. I haven't experienced this so blatantly before.

This makes trading too risky for me, because I can't count on cancelling, and I can't count on executions. So I can't go for small moves in stock. So I stopped trading today.

From now on, I'll always do a few small lot trades early in the day, and if there are problems, I'll stop trading that day.

Hope this is some aberration.
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