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Microcap & Penny Stocks : IVOC - Visual Telephone International -- Ignore unavailable to you. Want to Upgrade?

To: thescot who wrote (4030)	5/22/1999 7:20:00 PM
From: TJG	Read Replies (2) \| Respond to of 4815

thecot, I also have a Schwab account, whose decimal system I find to be a great BIG PITA, if ya know what I mean. Do yourself a favor don't listen to a broker there but work out a fraction/decimal spread sheet and keep it by the desk so you can punch in more exacting decimals quicker.. .. ie. .50= 1/2 = 2/4 = 8/16 = 16/32 = 32/64 etc.. etc ..I suggest this because I got a fill on an order around 3pm with a 45/128 limit = .3515625.... Best, TJG

To: thescot who wrote (4030)	5/23/1999 11:53:00 AM
From: vagabond	Read Replies (1) \| Respond to of 4815

FWIW: Schwab is more than happy to place trade-orders using decimals -- but only by PHONE. Their system won't allow you to do it yourself on the Web. This is annoying, but not always a reason for disaster. My own experience in trading pennies thru Schwab is that if I'm buying/selling a substantial number of shares (anything over a couple of thousand) of a stock costing less than about 3/4, the commission via a telephone-order actually comes out to be LESS than the commission for an on-line order -- and the MORE shares I want to trade, the GREATER the savings via phone (since the online commission is charged per-share once you pass 1,000 shares, while the phone-commission is based on the total VALUE of the trade). Your own "break-even" point on Web-vs-phone commissions may vary from mine a bit, depending on whether you're entitled to any special discounts -- but I'd suspect that with a stock at VTPI's current price, you'd be almost SURE to pay less via phone than on-line. Calculate it for yourself, and see how the numbers crunch. The drawback is that you can't CHANGE an order as quickly via phone as on the Web, because of delays in reaching a broker. But there's no reason you can't place your INITIAL order by phone, if you have a limit-price in mind (like the .35 you wanted here). Then if you feel a sudden need to change your price because of market conditions and don't want to risk taking time to do it by phone, you can still make the CHANGE on-line -- all that happens then is that your NEW order will carry the Web-commission, which might be more than you would've paid by phone... People seem to always assume that trading via phone costs MORE -- but that's not always true, at least when trading in pennies thru Schwab... Vagabond