Monday, June 1, 2009

Swing Trading FITB and the Scottrade issue on FAX

My buy stop order for FITB was triggered at $7.06 and I have no problem with that the issue I have was my buy stop order with FAX which I pegged at $5.60 I was surprised to learn that the order got triggered at $5.45 should I be happy I got in with a discount? No! My game plan is to only enter long, if the stock trade above Friday's close around the $5.60 area. I called Scottrade and complained but I was told that my order was a limit order not a buy stop order. I can't prove my order but I firmly believe I did place a buy stop not a buy limit! Anyway, I'll just have to manage the FAX trade carefully as it cannot be undone.



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