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Greetings, fellow Pro-fundity team members -
7-23-99 Page
-
Investors are flocking to the internet
by the droves, with online trading now 25 percent of
all retail trading and growing fast.
This has brought a number of horror stories to the SEC's
attention including:
- Traders who sell shares, do not receive electronic confirmation in a timely manner, place the order again to learn they have sold twice as many as they intended.
- Traders who try to cancel an order placed earlier, receive confirmation the cancellation had been executed, then learn they had actually purchased the stock.
- Common complaints came from investors who paid higher prices for stocks than the prices posted on their screens.
- Others complained they had moved with a few clicks of the mouse into stocks that, upon reflection, should never have been purchased.
- What is common about these stories is they could all be avoided using a full service broker. Does this mean we should chuck our PC's and deal with real people on the telephone? Hardly. This is one horse they will never get back in the barn.
- Arthur Levitt, SEC chairman,
cautioned small investors to keep the fundamentals of
investing in mind and to place
limits on the prices of buy and sell orders to avoid the kinds
of problems that are
plaguing the emerging group of small traders.
He said the majority of problems can be addressed "...through better education and investors insuring that they have done their homework."
- In our effort to help our members gain this kind of education, We have included two new Member tutorial links on the home page for your benefit. We are responding to member requests to post the educational guideposts where they can be reviewed at any time. This also makes past guideposts available to new members. Watch for new Member Guidepost tutorials on the main page going forward .
- Move to the top of this editorial to click on these two new links: Risk - and - News. These are two fundamental issues every investor should master.
May we continue to learn by engaging in the process. Paper trades will provide this experience with very low cost (no cost, save the time invested).
Understanding : It is our intent to help our subscribers understand market strategies well enough to make informed decisions and understand the risks.
We provide TC-2000 tutorials to members. See the Member Login page.
Be diligent... Take action! 
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