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Non-Tech : A.B. WATLEY - THE ULTIMATE TRADER! -- Ignore unavailable to you. Want to Upgrade?

To: Daniel Miller who wrote (1189)	4/29/1999 9:34:00 PM
From: MaryinRed	Respond to of 2045

Yes, I find mytrack to be extremely reliable...and I love the way I can pull up the market guide, news, etc. I have Level II etc with both systems...which is good for backup for me....I have sent in info for a trading account....(what's another broker when you are having fun....laugh)...so I will certainly try them.... The people at AB Watley are absolutely lovely, but they need to have a training program and a better manual. I have been investing for over 20 years...and in the last week I have broken more rules than I can shake a stick at... this whole "day trading" and "overnight" buying power thing is so complicated that my son is writing a visual basic progam just so I can stay out of "hot water" Here is my Worst infraction: I had 1400 shares of CMGI in one account. I saw that I could sell it at $132 and more than likely buy it back at $128. So I sold it ($325K approximately)..and I was very happy as I watched it do exactly what I planned and popped in my order for buy at $128....the system WOULDN"T take it....I got a little panicky as I tried everything I could think of....finally I called...and found out that I could not "buy it back" UNTIL THE NEXT DAY!!!!! because it would be a "day trade" and I did not have enough in my available daytrading to allow it....I had the CASH in the account (because I had just sold it)...but because the cash was not in there overnight....it flipped me out of the stock....BUT they said I COULD buy something else...so I quickly bought some other things....NOW THAT caused a $147K federal call of some type....because I exceeded some other limit....and since that account was an IRA and I am "prohibited" from meeting the call.....I now proudly have one ding on my account...3 dings...and I no longer can buy for 90 days..."restricted"... but that is not the only thing odd..... I could not "buy" or "sell" anything when I clicked on the cash button for my IRA (it is a Cash account)....so...I called and they told me to click "margin"..so I did....and I was amazed....that my IRA was a margin account...so....what does any good shorter do with a margin account......well.....SHORT of course.....and that got me in trouble....because....can't short on an IRA......sigh.... Lots of other wierd things....I won't bore you with the idiocy of it all.....but I am hoping to be able to learn...how to do this...without going nuts... I have 11 accounts...so....keeping track of what all I am doing..is enough...but now I have to worry about the aggregate of my day vs night trading...my margins....etc... Almost ready...to go back to my Dean Witter trading...laugh... smile......Mary but pls note....AB Watley has been very kind...to me...in spite of the fact that I am having more than my share of problems....