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Strategies & Market Trends : Momentum Daytrading - Tricks of the Trade -- Ignore unavailable to you. Want to Upgrade?

To: wave who wrote (1007)	5/2/1998 3:03:00 PM
From: steve goldman	Respond to of 2120

Wave, Most firms have a cancel and replace feature which is different that simply canceling and then entering the new order. The benefit is that you arent liable for a dupe report since the cancel/replace feature only replaces the order once you have a cancel report. I would speak to the sales supervisor at whichever firm you had the problem with,ask for a times and sales report (if you need help there, i or others on this thread shouldbe able to help), and try to get a confirm that the cancel was infact received. How much was the loss? In my experience, only losses greater than five, ten k are worth pursuing to NASD arbitration. Most firms will make good on deminimis losses. Regards, Steve@yamner.com

To: wave who wrote (1007)	5/2/1998 4:28:00 PM
From: Pilot	Read Replies (1) \| Respond to of 2120

After entering an order on-line, I usually print the order status screen and file it for a while. This provides a good basis for problem resolution. The other step I take is to confirm my trades with the "human account" type. One time I did this and he caught that I had left an order open that I should have cancelled. I have always found Waterhouse most helpful if resolving problems. Now, if they would just make their "human" trades a bit cheaper!

To: wave who wrote (1007)	5/4/1998 2:59:00 AM
From: saju chacko	Respond to of 2120

was this in a cash account or margin? if cash then it is my opinion that the order shouldn't have been valid. and if they don't agree then you should look into arbitration which is the only choice that you may have according to the contract you signed to open the account. Saju

To: wave who wrote (1007)	5/6/1998 6:07:00 PM
From: Ken Wolff	Read Replies (2) \| Respond to of 2120

Wave, The circumstances you refer to do happen and you should talk to your Broker and attempt to resolve the error. If you Broker will not listen and be reasonable then you should alert the SEC and maybe go to arbitration. It also helps to explain you intend to alert the Internet Community about the poor service. I would try to keep any records of the cancel if at all possible as you will need some proof. I would also change Brokers and ALWAYS double check cancels or execution confirmations... Good Luck Ken www.mtrader.com

To: wave who wrote (1007)	5/30/1998 1:43:00 AM
From: James F. Hopkins	Read Replies (1) \| Respond to of 2120

Wave; To change an order on Web Broker Always bring up your open orders and hit the change order it will do a cancel and replace. If you place a second order at a different price it sees two orders very often these things don't even get looked at by a broker.. my market orders fill in seconds. If you placed a second order, and then did a cancel on the first one there is a chance you didn't hit the confirm key..at any rate it did not get canceled..it may have been in the process of exicuting ALWAYS be sure YOU get conformation, by checking the open orders screen... I have a directory named orders...when I start the day off I save the open orders screen ot my hard drive with a date. Like 0529regord.htm or 0529iraord.htm...and I save them any time I change something or get a conformation..I save the history files too ( I keep up with this stuff as it goes using MS money ) and go months without opening the mail..as my account balance matches my trades. --------------- I do not understand how your old order could have been valid for a month and you not know it. ON top of that it's hard for me to understand how it sold short..( I have to hit the sell short key to sell short )..but I never tried selling one short with out it, so I guess it could happen. --------------------- But no I don't think you will get to reverse that order , not after that amount of time, if your going to e-trade you got to stay on top of were your at, and I suggest you view the open orders screen a lot & save it to disk, the history screen maybe not as often but save it to. I trade over the net almost all the time and make a lot of trades and have never had something like you said happen.. and if you read all instructions ( THEY CAUTION YOU not to place a second order if you want a change that way unless you first confirm the first one was canceled..you know they will try to kill the order for you and it's fast too..but if things are moving it might go. Your hitting the confirm button is on your end..you still need to get that conformation from their end, even if you canceled it first..( which you say you did second, but even if you did first be sure you look to see i got canceled and was not in the pipe line at the time. ------------------------ What I think may have happened is you told it to cancel but it didn't cancel because it had already moved , ( it was in the pipe line ) and you sold twice..but didn't figure it out for a month.. anyway use the change order button to cancel and replace, and you won't get duplicate orders that you don't want. Jim