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Non-Tech : American Express (AXP) -- Ignore unavailable to you. Want to Upgrade?

To: Dolfan who wrote (147)	11/6/1999 9:19:00 PM
From: semi2000	Read Replies (1) \| Respond to of 179

Thanks for the input. I don't day trade, more like once a week. One advantage of this system is I can buy 10 shares as well 1000 without feeling any need to compute % of amount spend on commission. Thanks

To: Dolfan who wrote (147)	3/2/2000 2:30:00 PM
From: Yiqun Xie	Read Replies (1) \| Respond to of 179

American Express online brokerage sucks. Free trade is nice, but considering its lousy execution, I would rather pay. Yesterday I entered a limit order to sell a stock, after I finish my order entering, I checked real time quote, the bid price is exactly what I want to sell at. Guess what, the order was not executed. A few minutes later, the stock fell and I cancelled the order. The worst thing came this morning. At the market open, I want to sell a stock. I entered a limit sell order with the price even lower than the bid price, anticipating a slow execution. Guess what? My order was refused with error message showing "No position available". I pulled my portfolio and made sure I had the stock. I tried again, again and again. I still cannot place the order. Then the price of the stock dropped. I called American Express and tried to reach a live broker. I heard the message saying "we are experiencing high call volume" and my line is disconnected. I called customer service, a lady tried to connected me to a broker, I was put on hold for the broker. 20 minutes later, the same lady told me I need to wait another 15 minuted or so and asked me if I still want to hold. At that time the price of the stock I want to sell has dropped significantly and I lost more than $5000. I asked the lady why I could not place the order online. She said it's because of their computer failure and they are trying to fix the problem by noon. Before they fix it I have to talk to a live broker if I still want to sell. I gave up. One more thing I do not like is that I have to call and get a broker to place option order. And their broker is hard to reach. I guess I got what I paid for. I will close my account once I close my positions in American Express. I paid big bucks to try their service.