yoyomama
05-19-2009, 10:13 AM
With Scottrade do you know that if you place an automated order to buy a stock at Market Open before the Market Opens...and if that stock is traded on the NY Exchange it won't be filled until it's traded on the NY Exchange.
ie: AMD opened at $4.19 yesterday. If you ordered it through Scottrade before 9:30am it wouldn't open until 9.30.40.am. Forty seconds later at $4.25 is when it would be filled - which was essentially the high for the day. It's not an issue of where you are in the que either, it's just how ST deals with it.
That's not a plus for automated Market Open buys...at least with Scottrade. Live & learn. YMMV.
Do you know which of the popular Brokers do not do this?
Thanks!
ie: AMD opened at $4.19 yesterday. If you ordered it through Scottrade before 9:30am it wouldn't open until 9.30.40.am. Forty seconds later at $4.25 is when it would be filled - which was essentially the high for the day. It's not an issue of where you are in the que either, it's just how ST deals with it.
That's not a plus for automated Market Open buys...at least with Scottrade. Live & learn. YMMV.
Do you know which of the popular Brokers do not do this?
Thanks!