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Even computers can't handle busy market
- Thread starter heidegger
- Start date
I tried placing an order using TDAmeritrade, and saw the price surging, so I tried to cancel my order and enter a new price. Took 3 minutes for them to cancel, and the price had surged another 5%. Too bad, I'd be up 10% now if they had filled my order at the time I entered it.
Quote from heidegger:
I buy the stock on the open @ 12.26. I don't get fill report for 3 minutes. The stock is now 13.01. I put in a market sell. I get filled 3 minutes later @ 12.30! Slow execution is deadly.
You cannot trade like this.
You are being taken to the cleaners.
If you cannot get a quality direct access broker...
And professional level quote data...
And trade only stocks where ** YOU HAVE CONTROL **...
And can avoid being exploited...
Then just stop trading.
As of 10:35 I've made 108 trades using Limit orders...
Zero "late reports"... total control.
You give me the shivers...
It's like watching a blind 80 year old woman...
Playing a Vegas slot machine with 80% payout.
Quote from QuantPlus:
You cannot trade like this.
You are being taken to the cleaners.
If you cannot get a quality direct access broker...
And professional level quote data...
And trade only stocks where ** YOU HAVE CONTROL **...
And can avoid being exploited...
Then just stop trading.
As of 10:35 I've made 108 trades using Limit orders...
Zero "late reports"... total control.
You give me the shivers...
It's like watching a blind 80 year old woman...
Playing a Vegas slot machine with 80% payout.
I just got a fill in <2 seconds (same stock). TD doesn't usually screw up like this. This is the worst fill I've had in a year. I retract the routing comment, but it looks like they can't handle major volume for some reason.
Speaking from personal experience let me sat that AMTD in any of its incarnations is totally sucky when it comes to executions for small retail traders. If you look at their order flow you will see (as of the last time I checked albeit some time ago) that they use UBS as a retail land fill site. BTW, by law they must give you the info concerning their order flow.
My solution was to dump them and go with IB (there are lots of other DA brokers). Nothing is perfect in this game but there are brokers whose primary way of making money is by fleecing small retailers. AMTD is one of them.
lj
My solution was to dump them and go with IB (there are lots of other DA brokers). Nothing is perfect in this game but there are brokers whose primary way of making money is by fleecing small retailers. AMTD is one of them.
lj
Quote from heidegger:
I just got a fill in <2 seconds (same stock). TD doesn't usually screw up like this. This is the worst fill I've had in a year. I retract the routing comment, but it looks like they can't handle major volume for some reason.
Call them up and ask them why it took 3 minutes to fill your first order and then why it took 3 minutes to fill your second order