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Made A Mistake Entering # Of Shares @ Schwab! Help!
- Thread starter BRAD7OUT
- Start date
Classic nOOb mistake.
Put your fingers on a diet and stop complaining.
Better yet, you're kind of embarrassing if you're going to start crying about this. Just get your mommy to wash your face with a warm cloth and tell you everything is going to "OK".
Then close your account, stop trading, and finish up your junior college courses.
Jimmy Jam
Put your fingers on a diet and stop complaining.
Better yet, you're kind of embarrassing if you're going to start crying about this. Just get your mommy to wash your face with a warm cloth and tell you everything is going to "OK".
Then close your account, stop trading, and finish up your junior college courses.
Jimmy Jam
I am origional poster and sincerely appreciate each and every response. I definetily made entry error, but thought Schwab would eat the $700 since they were making $300-$400 in commissions per day(Fridays) when I started trading with them. I think I was paying $10.95 originally, but got them down to $5.95. I really like these people I talk to on the phone at Schwab. I think I will offer to see if they will split mistake and if they do not accept, make different arangements. Again thanks for the replys.
You are lucky you caught the error. You made the mistake so man up to it and stop trying to blame it on the broker. They did nothing wrong. It happens to every trader eventually and you should be happy it didn't cost you 30000. Your broker won't "eat" a mistake you clearly made. You don't deserve to get any back from Schwab.Quote from BRAD7OUT:
I am origional poster and sincerely appreciate each and every response. I definetily made entry error, but thought Schwab would eat the $700 since they were making $300-$400 in commissions per day(Fridays) when I started trading with them. I think I was paying $10.95 originally, but got them down to $5.95. I really like these people I talk to on the phone at Schwab. I think I will offer to see if they will split mistake and if they do not accept, make different arangements. Again thanks for the replys.
Quote from mde2004:
You are lucky you caught the error. You made the mistake so man up to it and stop trying to blame it on the broker. They did nothing wrong. It happens to every trader eventually and you should be happy it didn't cost you 30000. Your broker won't "eat" a mistake you clearly made. You don't deserve to get any back from Schwab.
Of course he made a mistake, he acknowledged that, but their platform should not have let him execute a trade that was way over his BP. I can't imagine how that happens, and I think he should make it his business to find out. I can't believe they don't apply a filter to market orders but do to limits. That makes no sense whatsoever. In fact, a lot of platforms will only let you close an open position, no matter how many shares you key in. To close and reverse, you have to have disabled the default setting.
Quote from mde2004:
You are lucky you caught the error. You made the mistake so man up to it and stop trying to blame it on the broker. They did nothing wrong. It happens to every trader eventually and you should be happy it didn't cost you 30000. Your broker won't "eat" a mistake you clearly made. You don't deserve to get any back from Schwab.
Its not Schwabs fault he entered the wrong figure, but they are at fault for not catching it.
They should have caught the error. It was way way out of bounds. The Schwab server should have rejected it in a milli second. No human intervention required at that point.
A 50/50 split sounds about right.
Quote from Businessman:
Its not Schwabs fault he entered the wrong figure, but they are at fault for not catching it.
They should have caught the error. It was way way out of bounds. The Schwab server should have rejected it in a milli second. No human intervention required at that point.
A 50/50 split sounds about right.
Why the hell is everyone blaming schwab for not catching the error? are you all that incompentent that you need a computer to figure your order total? if so, i think they still sell abacusus in china for you idiots to use. grow up and admit you made a mistake and quit trying to blame a friggin algorithim or some other computer geek excuse for why you didn't see that your order was WRONG!! man up! and pay up! next!
this thread is eight pages of mostly nonsense. legally,the broker is in the wrong. you are a retail client not a prop trader. get yourself a lawyer. you will be able to get a lawyer even for this small amount. a competent lawyer will be able to get a settlement with one phone call or say you will make the phone call if the lawyer tells you what to say.
you made one mistake which was to close
the transaction yourself. as the customer representative implied if u had not closed the transaction the firm would have eaten the loss.
you made one mistake which was to close
the transaction yourself. as the customer representative implied if u had not closed the transaction the firm would have eaten the loss.
Quote from zdreg:
this thread is eight pages of mostly nonsense. legally,the broker is in the wrong. you are a retail client not a prop trader. get yourself a lawyer. you will be able to get a lawyer even for this small amount. a competent lawyer will be able to get a settlement with one phone call or say you will make the phone call if the lawyer tells you what to say.
you made one mistake which was to close
the transaction yourself. as the customer representative implied if u had not closed the transaction the firm would have eaten the loss.
i wonder if schwab would be in the money if they agreed to reverse the original trade at the traded price (not the second trade).