What Level of Service at What Price?

Discussion in 'Trading' started by lsd47, Nov 14, 2007.

  1. lsd47

    lsd47

    Looking for feed back on my expectations are they unrealistic or not?

    I did a lot of reading and learned first, then I wanted to start trading physical commodity option spreads. I searched for a firm that would open a small account to start. I learned that there are three types of accounts, online, broker assisted and full service. I thought that I was not ready for online and could benefit from the knowledge of a broker, but full service was too much. So I opted for broker assisted, and they offered $25.00 for per option round turn. I asked the broker I was assigned how much they knew about about fundamentals because that was my weak area. The broker replied only with links to online sites, which I took to imply they knew nothing about fundamentals.

    I do my research and technical analysis, decide what commodities and option spreads I want to trade. I placed several orders with the broker, and none were filled over a short time period. I thought I might be too restrictive with my price to get filled. So I decided the best course of action was to give the broker a range to work with that would be acceptable to me .

    I placed a trade with the broker which they accepted. The price fell within the range that I would accept on a day order. The order did not get filled. I asked the broker why and the reply was “ I don’t have time to monitor your order and adjust prices”.

    Am I expecting too much service for the money? I am now considering moving the account to another broker, but before I do I thought ask on the forum here what you thought.

    Thank You for your help and thoughts!