Saturday, April 15, 2017

I'm the operator of my pocket calculator, OR computers and trading.

"Is that the confirmation page, Bill?"
"I'm not sure."

We purchased some INFY a while back, with an automatic sell order if things moved to low or too high. We were checking in on it, and couldn't find any record of the open order to sell at a certain threshold. This brings up an interesting point about these nifty online investment tools--there can be a learning curve, and sometimes things are not set up in a way that is intuitive. What probably happened is that we didn't confirm the open order, because computers don't make mistakes...only the people operating them. Alternately, there could be something up with Scottrade, but that is unlikely. The lesson to learn here is double check your work, and be prepared to have funky things happen when you don't know how to use the system.

What we figured out is that when you put an advanced order in, such as the open order to sell at a low/high point, there is a confirmation screen. However, there seems to be an issue because this is being done outside of normal trading hours. This gives us a second confirmation screen (???). We're not really sure, but it seems like a bad system. The issue is the second review order screen looks basically identical from the previous one.


Probably we just didn't properly confirm everything.

Profit!

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