Like you, I subscribe to a number of premium newsletters because knowledge is power. In my eyes, they’re like my own little team of analysts. Even if I can’t make money on their trades, so long as I can learn from them and apply it I’m willing to employ them.
Today I received an alert from a newsletter I really, really like. Its history of alerts usually makes me money and the trader behind is very successful to say the least.
As soon as the email hit my inbox I was quick to act and on the ask for 5k shares. There were two offers at my price and the stock hadn’t even started moving yet. I’d say I sat there and watched it for at least a minute with no execution before the stock climbed $.30 cents or so in minutes.
That’s about $1,500 in profits gone with a blink of an eye or a full week of teaching before taxes. Now don’t get me wrong, I’m not into blaming others for my misfortune but this is business and I did my job.
If there is one problem I have with E*Trade it’s their execution. I can’t tell you how many times I’ve tried to buy on the offer and not get filled by these crooks. Time is money in this business and if E*Trade doesn’t get their act together soon I’ll be packing up shop in search for someone who can.
Yes E*Trade Pro is the best software around, hands down, but if they can’t execute my trades on time the only money they’ll be getting from me is $99 a month so I can use their software.
I am begging an E*Trade representative to reply to this blog post… don’t hide behind your lawyers, just come tell me why your execution sucks lately and how you plan to fix it. I send hundreds of subscribers your way each month, the least you could do is give them and I a chance to make money when we’re right about a trade.
You’ve been warned E*Trade, if you want my business and the business of my recommendations, step up your game.