Trading Snafus?
Anyone having trouble reaching a trading desk or broker?
I've heard TD Ameritrade is tough to get through to on the phone; What other systemic problems are going on?
How stressed is the trading infrastructure ?
~~~
I wonder if the absence of the Lehman and Bear Stearns trading desks are a loss of capacity we are feeling at the moment . . .
>
Hat tip Fitz
Wednesday, October 08, 2008 | 10:49 AM | Permalink
| Comments (59)
| TrackBack (0)
add to de.li.cious | 
digg this! | 
add to technorati | 
email this post
TrackBack
TrackBack URL for this entry:
http://www.typepad.com/services/trackback/6a00d8341c52a953ef0105356cddf0970c
Listed below are links to weblogs that reference Trading Snafus?:
Comments
For what it is worth TD is one I use and I have not had any issues.
Posted by: Jeff | Oct 8, 2008 10:53:16 AM
E-Trade was having internal server errors earlier, and the Portfolio page is showing pricing wrong on QID.
Posted by: Mark F. | Oct 8, 2008 10:54:32 AM
no doubt something is up - been frozen out of my Optionsxpress stuff 3 times this AM -
Posted by: Mike G | Oct 8, 2008 10:57:15 AM
I am having problems getting orders executed on TDAmeritrade.
Posted by: Hasib | Oct 8, 2008 10:58:25 AM
TD took ten minutes to execute a sell order at the start of the day. Thereafter it was fine. Didn't try to call a broker though.
Posted by: Chief Tomahawk | Oct 8, 2008 10:58:48 AM
TD website is fine but I am not trading anyway. The Treasury is having trouble selling its IOUs apparently, people just can't get enough.
Who would ever want to talk to a retail broker? You can only imagine the insanity going on right now with the panic among the sheep. Thank goodness for the Internet.
Posted by: leftback | Oct 8, 2008 10:59:39 AM
more issues
getting very jumpy real time quotes on futures and futures options, freeze then release - I bailed on my short term plays can't work like this. Gonna look over at eSignal see if same there? Anybody else?
Posted by: Mike G | Oct 8, 2008 11:00:57 AM
Barry,
I found out what the problem is:
Many brokers are on ledges without their cell phones.....
Posted by: Bruce in Tennessee | Oct 8, 2008 11:01:27 AM
TD execution always sucks at the open. I prefer to trade at 10am or 3.59pm.
Posted by: leftback | Oct 8, 2008 11:02:16 AM
I traded mini S and P 500 futures through Lind-Waldock (Man Financial) with no problem. I was buying over the Internet. Soon maybe they will say dial 1 for buying, dial 2 for selling, and if you are selling, you will get put on hold for several hours.
Posted by: W P Gardner | Oct 8, 2008 11:04:55 AM
Schwab Web site was down at opening and for about 15 minutes, I would guess.
Posted by: Jim | Oct 8, 2008 11:08:40 AM
funny thing you mentioned TD. I'm calling them now and the wait-time is 8 mins.
Posted by: noob | Oct 8, 2008 11:08:59 AM
What if they had a party (50 bps rate cute) and no one showed up? Wow.
Posted by: Big E | Oct 8, 2008 11:11:34 AM
If I was China, I would sell all my Treasuries today and begin to buy very large positions in gold and oil and in the few remaining sound US banks, technology and manufacturing operations.
Wonder if they are that smart? Perhaps they are having trouble getting through to their broker? "Hello, Mr Paulson?"
I bet Buffett is laughing his ass off today.
Posted by: leftback | Oct 8, 2008 11:16:19 AM
Scottrader Elite has been a disaster for the last three weeks. (Regular Scotttrade streaming quotes doesn’t look any better.) It freezes for long periods of time, loses connection and doesn’t reconnect. It has been useless in the first and last hours especially, and periodically during the day. Trade on the web site can be done, but it has been slow and unresponsive for a few minutes off and on. I haven’t tried calling but assume the wait would be long and excruciating.
This has cost me a lot of money in recent weeks as I couldn’t bear to be in positions moving against me in such a volatile market and not be able to see what was happening or to be able to get out when I chose to. This led to fear based decisions which were expensive.
I have thought of suing, but that is probably hopeless.
Posted by: KJ Foehr | Oct 8, 2008 11:17:10 AM
the PPT is effectively out of the picture a friend of mine at a major desk told me as most of the team are either gone or strained. maybe this is why the freefall this week.
Posted by: abeSklaroff | Oct 8, 2008 11:24:51 AM
IB's quotes are more then a little "sticky" today and charting is a bit whacked (mind you, there charts suck anyways) ... still, seems better then the day the short ban went into effect (when prices were freezing/not updating) for what seemed like moments on end ... stating the obvious: makes it really difficult to try to trade!
Posted by: Tyler K | Oct 8, 2008 11:27:15 AM
Probably Mr. and Mrs. Sixpack are finally telling their brokers to get them the hell out of equities.
Posted by: wally | Oct 8, 2008 11:28:52 AM
Hedge fund redemptions putting relentless downward pressure.
Whipsawing provides temporary relief.
Posted by: Neal | Oct 8, 2008 11:34:21 AM
Heavy volume and volatility today. Yesterday was the bottom, at least short term. Retail traders will be the last.
Posted by: Geoff | Oct 8, 2008 11:34:45 AM
I use Schwab. Have had problems in the past during times like this, but not recently.
Posted by: Jeff M. | Oct 8, 2008 11:40:22 AM
I've had a few issues with Scottrade. Their streaming quotes disconnect and fail to provide new data for a few seconds at a time. Furthermore, their executed trade notification emails are coming in 60-90 minutes late. However, the market orders are of high quality.
Posted by: Elijah Chancey | Oct 8, 2008 11:41:07 AM
Sometimes the best thing to do is nothing at all.......
Sit back and relax while everyone else chases their tail.
Posted by: leftback | Oct 8, 2008 11:46:28 AM
The liguor-store owner keeps pointing to the sign that says, "Cash only."
Ben keeps trying to pay with a credit card.
Posted by: Winston Munn | Oct 8, 2008 11:47:41 AM
eSignal is fine. It's most likely focused on companies servicing retail clients as people start to develop the mindset the world is coming to an end.
Posted by: bdg123 | Oct 8, 2008 11:49:56 AM
