Today Tradestation had major problems with future order execution. For me personally, it did not execute a stop market I had in place. I could not move any orders, and I could not close the position. It took 30 minutes to get through to the trading desk by phone! My profitable trade turned into a small loss. I wonder how many people suffered greater losses. I understand system problems, but 30 minutes to answer a call to the trading desk? Pennywise, pound foolish, hire enough phone personnel!!!!. I will be switching brokers!
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Tradestation Service Unreliable!
- Thread starter skl5681
- Start date
Quote from skl5681:
it did not execute a stop market I had in place. I could not move any orders, and I could not close the position. It took 30 minutes to get through to the trading desk by phone! My profitable trade turned into a small loss. I wonder how many people suffered greater losses.
Presumably whoever was on the other side of your trade had a windfall <i>gain</i>, no?
Quote from marketsurfer:
Hey Professor,
When is the marketing campaign going to start? By the looks of your post frequency, its going to be soon!
surf
Hey the trolling surfy is back.
Ever going to address your last wonderful trade on your closed journal?
How about the trade you posted, then deleted?
Remember what I said about the blind squirrel? I was right yet again!!!
Quote from skl5681:
Today Tradestation had major problems with future order execution. For me personally, it did not execute a stop market I had in place. I could not move any orders, and I could not close the position. It took 30 minutes to get through to the trading desk by phone! My profitable trade turned into a small loss. I wonder how many people suffered greater losses. I understand system problems, but 30 minutes to answer a call to the trading desk? Pennywise, pound foolish, hire enough phone personnel!!!!. I will be switching brokers!
I used TS too and encountered the same issue on August 11th. You were lucky that it took you only 30 minutes to get through to the trading desk. It took me 1.5 hours! First I used my home phone which after holding for 40mins ran out of battery so I used cell phone to recall and this time it took 50mins and finally someone answered. I had an OCO in place when the problem happened. Price hit my target first then proceeded to hit my stop. Neither order was executed as my screen still showed the position and changing P/L. By the time I got through to the trading desk, price had way passed my stop loss (I was in despair as you can imagine!). I then was told actually my target order was filled. Though it was a relief to hear that, my confidence in TS was quite shaken.
I complained on the TS forum and it took TS five days to acknowledge sort of "officially" on that thread that they had an issue on August 11th, without detailed explanation of what the "issue" really was, and said that they considered the case closed! That is quite an attitude.
I always wonder in case of failure of execution of a stop loss order, who bears the loss -- you or your brokerage? Who knows answer to this question?
Thanks.