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Gold/Mining/Energy : PYNG Technologies -- Ignore unavailable to you. Want to Upgrade?

To: NightHawk who wrote (1084)	3/17/1998 11:21:00 PM
From: AH	Respond to of 8117

I use a full-fee broker (Midland Walwyn) to avoid a situation like yours. The service costs more than all the discount brokers but it has never failed me. As with everything, you have to pay for quality.

To: NightHawk who wrote (1084)	3/18/1998 1:11:00 AM
From: Gary H	Respond to of 8117

Nighthawk, I, like you placed an order this morning with Investorline, but well before the opening bell. This was a market order with a limit which would prevent the purchase beyond a set price - like 6.50 say. It is called just that - a "limit order". I unfortunatly got in at 6.05. If I had of got stopped out I would have probably bought in a the 5.50 range when it fell. So it goes. Cheers,

To: NightHawk who wrote (1084)	3/18/1998 7:45:00 AM
From: D. H. B.	Respond to of 8117

Nighthawks, In response to your questions: 1) Your broker may be fine for a discount online broker, one bad trade doesn't necessarily upset the whole apple cart. AH says his full-fee broker would avoid this situation. This time, speed would have prevailed over commissions. Next time, who knows? 2) Many online discount brokers do not trade VSE. Datek does not, and I don't believe E*trade or Ameritrade do either. Someone else may know others that do. 3) Sounds like the supervisor was sympathetic to your situation. I'd settle for the free transactions. When I bought Pyng, I used a discount (American) brokerage house, and the transaction still took 30 minutes. But back then, the stock wasn't moving anywhere so it didn't matter. Lastly, congratulations on setting the high for the day. Dan

To: NightHawk who wrote (1084)	3/18/1998 8:03:00 AM
From: the Chief	Respond to of 8117

Hi Nighthawk. Sorry you ended up in this situation,but we've all ben there onetime or another. Here is what I perceived went wrong; First, before I start, my opinion is market orders are best used with Coca-Cola. Specky's can move at the speed of light. Here is an excerpt of PYT's trading day. This is captured from Vancouver so just add three hours to the tading times. V Mar 17 06:35 6.70 0.85 1000 012 Nesbitt 016 Yorkton T V Mar 17 06:35 6.70 0.85 1000 009 Green Line 016 Yorkton T V Mar 17 06:35 6.60 0.75 2000 012 Nesbitt 016 Yorkton T V Mar 17 06:35 6.60 0.75 2000 012 Nesbitt 029 PI T V Mar 17 06:35 6.50 0.65 500 029 PI 024 Jones Gable T V Mar 17 06:35 6.50 0.65 500 063 Levesque 024 Jones Gable T V Mar 17 06:34 6.50 0.65 2000 063 Levesque 035 Canaccord T V Mar 17 06:34 6.50 0.65 500 063 Levesque 016 Yorkton T V Mar 17 06:34 6.50 0.65 2000 063 Levesque 016 Yorkton T V Mar 17 06:34 6.50 0.65 1500 035 Canaccord 040 Majendie T V Mar 17 06:34 6.50 0.65 2500 035 Canaccord 016 Yorkton T V Mar 17 06:33 6.40 0.55 800 016 Yorkton 009 Green Line T V Mar 17 06:33 6.40 0.55 4000 016 Yorkton 029 PI T V Mar 17 06:33 6.35 0.50 2000 012 Nesbitt 016 Yorkton T V Mar 17 06:33 6.30 0.45 800 035 Canaccord 035 Canaccord T V Mar 17 06:33 6.30 0.45 1000 040 Majendie 035 Canaccord T V Mar 17 06:33 6.30 0.45 200 025 Midland 035 Canaccord T V Mar 17 06:32 6.25 0.40 800 085 ScotiaMcLeod 052 McDermid T V Mar 17 06:32 6.25 0.40 800 016 Yorkton 063 Levesque T V Mar 17 06:32 6.25 0.40 2000 016 Yorkton 063 Levesque T V Mar 17 06:32 6.25 0.40 2000 016 Yorkton 035 Canaccord T V Mar 17 06:32 6.25 0.40 200 016 Yorkton 052 McDermid T V Mar 17 06:32 6.25 0.40 200 009 Green Line 063 Levesque T V Mar 17 06:32 6.20 0.35 1000 040 Majendie 031 Global T V Mar 17 06:32 6.20 0.35 100 040 Majendie 063 Levesque T V Mar 17 06:32 6.15 0.30 700 082 DS 082 DS T V Mar 17 06:32 6.15 0.30 2200 082 DS 035 Canaccord T V Mar 17 06:32 6.15 0.30 1000 082 DS 035 Canaccord T V Mar 17 06:32 6.15 0.30 1800 082 DS 035 Canaccord T So was there anything wrong with your trading system. I don't think so! The trade was placed and executed within 3 minutes. Considering that the order goes to somebody that has access to your account, then checks to see if you have the money to pay for the order, then types the order in, then places the order to their broker on the trading floor, and finally your order is filled. Sorry again you had to get stung like that, but its a lesson learned at onetime or another by all of us, including me!! the Chief

To: NightHawk who wrote (1084)	3/18/1998 8:28:00 AM
From: Harryx	Read Replies (1) \| Respond to of 8117

NightHawk The answer to your problem is the solution given by Gary H. Limit orders. The opening sit on the floor after a halt is normally pandemonius (my word) to say the least. Get orders in early. Decide what your limits are. Set and forget. If you are not up on the various controls you can put on orders, check out the full-service brokers in London where you are and attend one of their seminars or get brochures they produce. We all have had to learn this one at some time. During my broker years, I always counselled clients to use limits and stops. They can be executed by discount houses just as well as by full-service. No need to pay extra commissions just for this.

To: NightHawk who wrote (1084)	3/18/1998 8:43:00 AM
From: Vincent Parisien	Respond to of 8117

I use Net Action from the Royal Bank. It is probably a similar system from the one you use, but it has order status confirmation, which I think your system doesn't have. Check out: "http://www.royalbank.com/english/adirect/netaction.html" the commissions are competitive. VP