It appears this maket has become the toy of the predatory banks and trading houses who use there high speed computers to generate million of shares to trade for pennies in either direction, with the occassional, oops when the markets does a 1000 point belly flop.
Whats even more disappointing is that I had limit order entered on Friday, on a trade, and before I knew it, they dropped the stock so quickly, and my order was executed, with Ameritrade knocking on my door and explaining to me that no only did my account go under the minium $ 25,000 funding, that my account would be restricted when I inquired about it. I asked them to forgive me for my error, and they reminded me that 2 years and 2 months ago that they had did that, and could not help me. So now I am in the process of transferring my account back to E-Trade where I do have additional funds, and kissing Ameritrade good-bye once again. Always amazed that a small trader like myself violates a rule, I not only get my hand slapped, but the trading house is quick to come down hard. But when I asked the week before about a 1000 point unexplained decline, that I am still waiting for an answer that satisfies a discrepency in an execution. Mind you I am not complaining, I will go back to E-Trade, and live with a few days of watching funds get electronically pushed around. In the meantime a week or two will pass by and Ameritrade will realize that my account has been moved. An account executive will give me call and explain that they did not want to lose my account, and I will explain that it took you longer than a week too explain a 1000 point fall, but only a matter of hours to restrict my account, on an error I alerted them to when I first entered the order.
My only beef about this whole thing is, why are rules enforced so quickly on some, when others break them all the time, and the public is told to just deal with it while the SEC and everyone else figure out what happened on that 1000 point decline. They are quick to cancel trades when the customer wins, but only too happy to execute them when that same customer makes an error. Oh well shit happens.
AI
