Why some broker limit their self in this fast business?

pc62

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(n) I am trading with a few brokers. I was try to close one of my Intel position yesterday afternoon right after they report earning. only to find out my broker can't enter my order until 5 minutes after 4pm and the order won't excute until 4:15pm. I have lost the chance to close my position and I don't know when I have the chance to do that.

Can you imagine that I sitting there and watch the price goto my target and go over and then take time to go back down, I can't do anything about it?

Why do this company limit their clients to trade like that? TDAmeritrade has option to enter an order with day, day plus extended hour, GTC+extended and extened hours alone. why this broker can't follow TDAmeritrade. It can be done.
Is there a good reason why so?

Thanks
 
(n) I am trading with a few brokers. I was try to close one of my Intel position yesterday afternoon right after they report earning. only to find out my broker can't enter my order until 5 minutes after 4pm and the order won't excute until 4:15pm. I have lost the chance to close my position and I don't know when I have the chance to do that.

Can you imagine that I sitting there and watch the price goto my target and go over and then take time to go back down, I can't do anything about it?

Why do this company limit their clients to trade like that? TDAmeritrade has option to enter an order with day, day plus extended hour, GTC+extended and extened hours alone. why this broker can't follow TDAmeritrade. It can be done.
Is there a good reason why so?

Thanks

So are you on US Eastern Standard Time? Was this the actual market close?
 
Jamaica is 1 hour behind EST, so rollover in Jamaica happens at 1557 ish depending on broker.
http://www.timeanddate.com/worldclock/custom.html?continent=all&sort=0&low=8
http://www.google.co.uk/#hl=en&scli...065,d.d2k&fp=9710533e83a1f73a&biw=878&bih=579

pc62, its perfectly normal, rollover around 1700 EST (New York time) is a standard part of the day:
Rollover Definition | Investopedia
Most simple server maintenance is scheduled for that time as well.

Saying that 5 mins after and another 10 to execute is pretty bad.
I'm guessing they had server issues due to maintenance that took a while to sort.
Ring them to confirm.
If that is standard downtime, and its likely to affect you quite a bit,
find another broker.

EDIT ******************
1600 EST is stock close, so I spose the time pc62 gave is EST.
Its probably due to after hours trading.
http://www.sec.gov/investor/pubs/afterhours.htm
 
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Their extended trading hour is from 4:15 to 8pm and pre open trading is from 8am to 9:25; there is a gap between the market close and the extended trading kickin. but other broker I also trade with don't do that. I wonder why it is this way. if there is any good reason to it.
 
Their extended trading hour is from 4:15 to 8pm and pre open trading is from 8am to 9:25; there is a gap between the market close and the extended trading kickin. but other broker I also trade with don't do that. I wonder why it is this way. if there is any good reason to it.

I thought for a moment you were promoting TD as a Broker:whistling

try Interactive Brokers instead, cheaper and quicker than most and certainly better than TD Ameritrade:)
 
The problem is that most of these brokers are not taking off shore client anymore. I am with TD and this one from long time ago, more than 15 years. I just can't understand why they offer the trading hours differ than others as it may lost clients because of that,. I can't move all my trading to TD because I can't put all my eggs in one basket in case something happen to the broker. It is a very large broker with international branches all over the world. I don't have any complain with their service except this limitation.
 
The problem is that most of these brokers are not taking off shore client anymore. I am with TD and this one from long time ago, more than 15 years. I just can't understand why they offer the trading hours differ than others as it may lost clients because of that,. I can't move all my trading to TD because I can't put all my eggs in one basket in case something happen to the broker. It is a very large broker with international branches all over the world. I don't have any complain with their service except this limitation.

Special Study: ECNs and After-Hours Trading
I'm guessing TD allow a bit longer to let the drop in liquidity settle down.
TBH though, unless you really have no choice, you would be better off
trading in market hours, better spreads, volume & liquidity.
 
The problem is that most of these brokers are not taking off shore client anymore. I am with TD and this one from long time ago, more than 15 years. I just can't understand why they offer the trading hours differ than others as it may lost clients because of that,. I can't move all my trading to TD because I can't put all my eggs in one basket in case something happen to the broker. It is a very large broker with international branches all over the world. I don't have any complain with their service except this limitation.

Ah - so you are promoting TD -amazing !!
Interactive Brokers are far better. In fact why don't you Google for a broker, then contact them and ask questions?
Heres's a start -


Interactive Brokers - Rated Best Online Broker by Barron's 2012
 
I did ask a few of them but all I hear is that Mr. Cheung I am sorry. We are no longer take clients other than US residents. So I stuck with the 3 brokers that I have from long ago. I am not Promoting TDAmeritrade. They charge me a dollar more per trade than the one I complain about. Just that I see no reason why they can't open the extened hour right after the regular market closed. I was betting the Intel stock have a wider than normal swing. So I open a long on monday with the little cash in the account so I can take the advantage on the report when people trading on panic. I open it at 21.48 and put my target on 22.48 so I can make .98 per share after commision. only to see the price goto 22.77 and drop back to 22 in just 10 minutes before my broker open the trades. now i an stuck with it and can't close.
 
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(n) I am trading with a few brokers. I was try to close one of my Intel position yesterday afternoon right after they report earning. only to find out my broker can't enter my order until 5 minutes after 4pm and the order won't excute until 4:15pm. I have lost the chance to close my position and I don't know when I have the chance to do that.

Can you imagine that I sitting there and watch the price goto my target and go over and then take time to go back down, I can't do anything about it?

Why do this company limit their clients to trade like that? TDAmeritrade has option to enter an order with day, day plus extended hour, GTC+extended and extened hours alone. why this broker can't follow TDAmeritrade. It can be done.
Is there a good reason why so?

Thanks

Lesson learned. Trying to trade outside normal NYSE hours is 10x more difficult than trading during normal hours. You should have found out from your broker beforehand how they handle orders. Consider yourself lucky though, some brokers won't handle after hours orders at all except for high $$$ volume clients. If you don't ask you won't know.

Peter
 
Well , I not lost yet. still floating with ~$180 profit, Intel seems going on strong right now, I will hold it to see if it can make to my target. If not then I turn it to a long term investment and collect divident.
I do understant the risk. I just can't understand why this particular broker has this gap and the other one not. Yet they put so much ADs on the TV try to get more clients.
Thank you and cheers
 
Well closed the position @22.30 shy .18 of my target. but get a little profit nonetheless.

Thank you guys.
 
While trade execution is usually seamless and quick, it does take time. And prices can change quickly, especially in fast-moving markets. Because price quotes are only for a specific number of shares, investors may not always receive the price they saw on their screen or the price their broker quoted over the phone. By the time your order reaches the market, the price of the stock could be slightly – or very – different.
 
While trade execution is usually seamless and quick, it does take time. And prices can change quickly, especially in fast-moving markets. Because price quotes are only for a specific number of shares, investors may not always receive the price they saw on their screen or the price their broker quoted over the phone. By the time your order reaches the market, the price of the stock could be slightly – or very – different.

Let me guess...you're affiliated with a metallic forex broker :rolleyes:

Peter
 
I have read so much about people complaining about brokers that won't execute order especially when you are on the verge of making profit. I think its tricky on their part and it is good to avoid these brokers. I have never had any of such experiences since I have been trading with Profiforex. Why are you there anyway? IN order to succeed in forex, brokers matter alot. Your broker has the power to make you fail, so be careful.
 
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