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Strategies & Market Trends : The Final Frontier - Online Remote Trading -- Ignore unavailable to you. Want to Upgrade?

To: David Nelson who wrote (2635)1/23/1998 12:10:00 PM
From: dennisp  Read Replies (2) | Respond to of 12617
 
Submitting stop orders as well as limit orders on the same shares is called playing both sides of the market, and it is not allowed in Schwab due to the risk of both trades executing.

I got the following message from Schwab after placing an order
I thought I would be "smart" and protect myself from a slide, thus protecting my "profits" and also enter a limit sell for my projected sell point and take my profits - all on the same stock. Oppps they
say it can't be done that way. it's playing both sides of the market. I guess this is a common novice mistake or what?
Seemed logical to me.
dennisp



To: David Nelson who wrote (2635)1/26/1998 10:29:00 PM
From: Jay Morrison  Read Replies (2) | Respond to of 12617
 
<< 3) The charge is $29.95 up to 1000 shares plus .03 over 1000.>>

David, have you considered opening a 2nd account that charges only $10 bucks per trade? That way you could use Schwab when you need some service, but you could save the money for when you are calling your own shots.

There are some firms that charge less than you are paying now and include Level II quotes with the package.

Thanks for the response,
Jay


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