What Level of Service at What Price?

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

  1. 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!