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Non-Tech : Datek Brokerage $9.95 a trade -- Ignore unavailable to you. Want to Upgrade?

To: Robert Rose who wrote (13763)	12/6/1999 8:45:00 PM
From: GS_Wall Street	Respond to of 16892

I have not given any thought to the question, what happens to my account at Datek or any other OLB if they go bankrupt? I recomended to a friend, he open an account at Datek and he asked me that question. All I could say was it was insured by the SPIC, but what if an OLB goes bankrupt what would happen to the accounts. How long would they be tied up, etc, etc.

To: Robert Rose who wrote (13763)	12/7/1999 4:25:00 AM
From: raymund	Read Replies (1) \| Respond to of 16892

Robert, sorry for the non clarity. My main point is that you can spend a lot of time learning about executions, and such a focus might jar your successfull mode. Ari Kiev in Trading to Win says "When people do really well they often stop doing what helped them do well." Thats what I meant by the real dangers the mkt makers pose to you, they may be at the root of a possible focus shift. The pointers that the Kelster gave could save you thousands; would give them much more weight then the words of a discount house supervisor. If one asks any of the discount or full service house supervisors to explain how payment for order flow benefits the customer, they will get the run around. I Dislike dishonesty more than like making money. I don't think Discover will be much different,but within a few years your options will be greatly improved as technology forces change