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Gold/Mining/Energy : Day trading in Canada -- Ignore unavailable to you. Want to Upgrade?


To: BradC who wrote (1903)12/26/1998 11:12:00 PM
From: trilobyte  Read Replies (1) | Respond to of 4467
 
As for E*trade ...

once in a while they are fast BUT -- most of the time they are NOT , after i talked to manager over there --- they have problem with a manpower and they are looking for some people ( pls. take this as an info 3 or 4 weeks old ) if they get 4 or more people i don't know , but for sure they didn't speed-up their service -- but you can play a games with them and place a out of price order which takes for
1 to 5 minutes to get down to the floor and once where the order is in a place you can change it for a real price which you want and it goes fast -- 30 sec to 1 min .
they don't have a stop-loss and you have to place a sell order way over trading price and then change it on your screen for lower price
which you will execute in case the price goes down -- really a bit of a gamble because what IS REALLY SLOW with a e*trade to change from a page to an other one ... easy 1 to 2 minutes from a screen where is your change to the screen where you can confirm the change with your
trading password , if you trade a high volatile stock you have to go a way down just in a case the price moves lower before you get the order in , or place a market order in which you can be sure get the worst price for you 9 times from 10 .....

other thing -- watch !!! for prices and how they goes in better get filled .. no matter if it is stock or options ......
I have experienced with them an option order -- bid/ask 0.80/1.10
placed order to buy 5 contracts at 0.95 and get confirmation i've get filled at 0.95 BUT there was not a market fill for $0.95 last and only
trade was $0.85 i've made a phone call to e*trade what is going on and after about 10 minutes only i've get a confirmation ,that i get filled at 0.85 with a tons of excuses that is not their fault .
ever since then my desk equipment get richer for a stop watch ..8-))
and i write down all trades down to a second ....
the other on-line broker which i have is a Investors Edge from CIBC
they are exact what the name is spelling "investors" broker ---
ok if you want "invest" but very slow if you want to "trade" the stock,
for options which you have to call in they are ok , even better than e*trade, the price is better and time is about the same ...

just my 2 cents into a discussion .. 8-))

tlb