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Technology Stocks : Track Data Corporation TRAC -- Ignore unavailable to you. Want to Upgrade?

To: AJ Berger who wrote (520)	11/19/1999 2:38:00 PM
From: Investor Clouseau	Read Replies (1) \| Respond to of 2005

thanks for the advice AJ, but that's not what happened. Here is the story. Place a limit buy for a Chinese OTC; got a partial fill (12% of my order) before the MM's raised the ask; then cancelled my order, but MM's would not acknowledge the cancel; finally got a broker on the phone an hour later; broker cancelled the remainder of my order and it was removed from my MyTrade screen; stock started to tank so I sold the amount that I showed on my positions page; my positions page after the close of the market showed no position in that stock; this morning around 10AM I noticed I owned the amount that I was told AND shown was cancelled; finally got hold of a broker this morning and was told I owned it but a supervisor would look into it; meanwhile stock dropped even more; 3 hours later, supervisor told me I owned it and there is nothing I can do; supervisor insulted me by offering me 3 free trades(done 127 so far this month);sold the stock. Just a warning to be careful if trying to play momo's with MyTrade. IC

To: AJ Berger who wrote (520)	11/20/1999 8:32:00 AM
From: cirrus	Read Replies (1) \| Respond to of 2005

I've used Schwab for over 20 years and MyTrack quote RT quotes for about a year and a half. I was very impressed with MyTrack quote services - very reliable. Well, after Schwab crashed three times in one week I decided to open a MyTrade account. Still kept my Schwab account, though. Well... it took ten days from dropping the completed paperwork in the mail to receiving a notice that my account was open and ready to be funded. Somewhat long, I thought. Thursday I did my first a few trades without a problem, although I found the interface quirky. Friday morning I placed a simple sell market order for 100 shares of a Nasdaq stock. The order remained open for several minutes. Finally I checked the channel 3 chat and found Herzog crashed. But I was able to place and confirm another order (that went through Herzog) without a hitch. About 3pm I checked and my market order was still open. Chat informed me that I needed to call to find out the status of my order. I asked why, since I had an order number and order received acknowledgement from MyTrade and the broker, why I had to do this. Well, the Chat person was a drone and I got a drone answer... I called and waited 17 minutes on hold... got a decent fellow who checked with Herzog and, yes, my order was executed. No explanation why they couldn't confirm it electronically after the crash was problem was fixed. But I digress. I placed a sell stop market order for another security at about 3:40. The price hung just above my stop price (perhaps dipped at or below when I wasn't looking) for several minutes then started rising. I sent a cancel through only to receive a CANCEL REJECTED BY BROKER message. About 4:30 I finally talked to a MyTrade broker who called NITE and confirmed that my STOP had, in fact, been triggered. Cool. We then discussed why I received the REJECTED message, and I didn't get a straight answer. If the CANCEL it was rejected because the order had been executed, where was my confirm? Anyway, It's Saturday morning and my account shows no trace of the stop sell whatsoever, not even the fact that the order was submitted, and the stock is still in my account. I bitched about Schwab's morning outages, refusal to explain these outages and turtle speed WWW site, but I NEVER had individual orders messed up to the extent that they vanished without explanation. (When Schwab switches to a backup system orders previously placed on the primary system are not displayed until the system "catches up"... but at least they ACKNOWLEDGE that on the screen. Needless to say, if first impressions are important, MyTrade failed miserably. I'll give them a few more days, although I'm already thinking about closing the account... but I'll give them a few more days. There are, as you suggested, some wrinkles - like changing rather than cancelling orders - that might make MyTrack workable. We'll see. For the moment, I can say that I'm relieved I didn't disturb my existing accounts to transfer substantial assets to MyTrade. Until TRAC becomes it's own brokerage, I don't trust their ability to impliment/relay order changes fast enough.