BUM
Thinks s/he gets paid by the post
RussianVanguard Roulette
I didn't want to hijack SoonToRetire's topic. Chinaco thinks that wound was self-inflicted, maybe so. But heres the thing... when trading online one needs to be (and feel) certain that your intentions match your keystrokes. No broker is involved that will ask or warn you of potential adverse outcomes. Heck, there are enough adverse outcomes in the market itself, Vanguard policy written or otherwise adds to the gamble.
My tale concerns Vangourd Brokerage Services, VBS. For several months I had been following BPT (down) looking for my entry point. I placed an online Limit Order at $67.00 and as usual, just before market close I was wearing the Enter key out watching the bid/ask changes. My order had not executed but the bid reached $67.00 for a few breathtaking seconds before going back up at the close. Not wanting to leave any money on the table overnight, I tried 3 times to cancel the order. The system told me cancellation is impossible since the order had expired.
THE NEXT DAY
With morning coffee at hand, I fired up my account and find that the trade had indeed executed after hours. I'm getting that bad, you-don't-know-what-you're-doing feeling. I like to think I have some control over what amounts to the underpinnings of our ER future. Curiously, I have two unanswered phone calls from Vanguard. Well, I'm busy. I'll call back later, probably not important since I've never received a call from Vanguard that was important.
Later, checking the portfolio, I see that BPT is down, down, down. Time to saddle up the high horse and find out WTF. One of my non-specific messages is from a VBS manager, so I call him. He informs me that, "the market always does the right thing". He said that about a hundred times. Heres what happened:
The was trade executed after hours.
Vanguard was notified.
Vanguard saw my online attempts to cancel.
Vanguard called me wanting to discuss the trade. I wasn't available.
They booked it.
Two days later. I want out.
No dice.
I really want to feel in control when making online investment buy/sell decisions. Thats it. Its a very important fundamental. I think that if they had the option to book it, they can reverse it.
What really lit my fire was this no-load oops wrong metaphor, cold hearted ba*tard had the nerve to say that, "if the stock went up we wouldn't be having this conversation". Wrong! We'd still be having the conversation, but without the yelling. So ultimately he emails me the address of the VBS arbitration board.
So I wrote the letter. No response yet. I call once per week and since the stock is now about $67, here is what I want them to do.
Sell my position at the same price as purchased and charge me no commission for the buy or the sell. Then explain to me exactly what happened so I can prevent this from happening again.
Now I'm watch this stuff like a hawk. Thursday I had another limit order cross the ask price and go up again. No trade this time. I didn't cancel just to see what might happen. Nothing happened. I thought the market always did the right thing?
No justice, no peace!
I didn't want to hijack SoonToRetire's topic. Chinaco thinks that wound was self-inflicted, maybe so. But heres the thing... when trading online one needs to be (and feel) certain that your intentions match your keystrokes. No broker is involved that will ask or warn you of potential adverse outcomes. Heck, there are enough adverse outcomes in the market itself, Vanguard policy written or otherwise adds to the gamble.
My tale concerns Vangourd Brokerage Services, VBS. For several months I had been following BPT (down) looking for my entry point. I placed an online Limit Order at $67.00 and as usual, just before market close I was wearing the Enter key out watching the bid/ask changes. My order had not executed but the bid reached $67.00 for a few breathtaking seconds before going back up at the close. Not wanting to leave any money on the table overnight, I tried 3 times to cancel the order. The system told me cancellation is impossible since the order had expired.
THE NEXT DAY
With morning coffee at hand, I fired up my account and find that the trade had indeed executed after hours. I'm getting that bad, you-don't-know-what-you're-doing feeling. I like to think I have some control over what amounts to the underpinnings of our ER future. Curiously, I have two unanswered phone calls from Vanguard. Well, I'm busy. I'll call back later, probably not important since I've never received a call from Vanguard that was important.
Later, checking the portfolio, I see that BPT is down, down, down. Time to saddle up the high horse and find out WTF. One of my non-specific messages is from a VBS manager, so I call him. He informs me that, "the market always does the right thing". He said that about a hundred times. Heres what happened:
The was trade executed after hours.
Vanguard was notified.
Vanguard saw my online attempts to cancel.
Vanguard called me wanting to discuss the trade. I wasn't available.
They booked it.
Two days later. I want out.
No dice.
I really want to feel in control when making online investment buy/sell decisions. Thats it. Its a very important fundamental. I think that if they had the option to book it, they can reverse it.
What really lit my fire was this no-load oops wrong metaphor, cold hearted ba*tard had the nerve to say that, "if the stock went up we wouldn't be having this conversation". Wrong! We'd still be having the conversation, but without the yelling. So ultimately he emails me the address of the VBS arbitration board.
So I wrote the letter. No response yet. I call once per week and since the stock is now about $67, here is what I want them to do.
Sell my position at the same price as purchased and charge me no commission for the buy or the sell. Then explain to me exactly what happened so I can prevent this from happening again.
Now I'm watch this stuff like a hawk. Thursday I had another limit order cross the ask price and go up again. No trade this time. I didn't cancel just to see what might happen. Nothing happened. I thought the market always did the right thing?
No justice, no peace!