dcsingleton
05-08-2006, 02:34 PM
I just got of the phone with my broker. I am hopping mad about a trade I got stopped out of that moved up over a point from where I was filled the same day I got stopped out. What really makes me agry is that market stop order was for 11.69. The daily data shows the low of the day for the stock was 11.79. I was stopped out at 11.69 and filled at prices between 11.41 and 11.64. The broker said the order fills aren't reflected in the market data because the orders were under 100 shares. I had 526 shares. The fills were moments apart in the following increments: 99,99,99,99,44,86. My broker says that the orders are filled by the market maker and they gather enough shares necessary to fill various lots. I contend that my order was intentionally manipulated to fall under the 100 share reporting rule and driven down. The stock closed at 12.78 that day. The stock was IRIX. I bought at 11.79 on 5/2 an was stopped out as described above on 5/4. The transaction smells really bad. I believe I have been screwed by the Market Makers.
My question is this: Would if be better to use the Trade Trigger feature my online broker (TDAmeritrade) has available that will trigger an order entry when the Last is at my criteria (buy or sell price) rather that using Stop Market orders?
This would prevent the Market Makers from seeing my order information until the order is actually triggered.
My question is this: Would if be better to use the Trade Trigger feature my online broker (TDAmeritrade) has available that will trigger an order entry when the Last is at my criteria (buy or sell price) rather that using Stop Market orders?
This would prevent the Market Makers from seeing my order information until the order is actually triggered.