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


To: Randy Majors who wrote (11678)4/16/1999 4:00:00 PM
From: RockyBalboa  Read Replies (1) | Respond to of 16892
 
No idea about the ask.

Regarding the order confirmation (understand: only the order, not the execution) I watch the messages and look whether a line showing a "Tracking Number appears". If, then I look at the tape and hope my pieces are bought/sold. In heavily traded issues where my price isn't out of the world I will have an execution.

However it may take some time until the daily activity portfolio etc. is updated and the order is replaced by the execution in the Daily Activity window.

Cancelling an order which has been executed (but is still displayed) may take 3-8 minutes, until the order disappears - but has no effect in case the order has been filled.

Not knowing this "facility" costed me money when I sold & shorted some hot&running issues, when I only wanted to get out.

IS



To: Randy Majors who wrote (11678)4/17/1999 4:11:00 PM
From: Randy Majors  Read Replies (1) | Respond to of 16892
 
I asked this before, and was surprised that nobody had any comments or insights on it:

I was wondering about anybody's experience with Datek when closing out of an overnight long position right at market opening (say, when you place the order at 9:29:30).
Specifically, in regards to order visibility on ISLD and, ultimately, speed of execution and confirmation, which of the following typically works faster:
- hit the bid
- become the inside ask


Thanks again
Randy