Charles Schwab

[ithos]

Bad day to be offline. Need to find another online broker.

Any recommendations?

[Normal]

Bad day to be offline. Need to find another online broker.

Market is getting clobbered. Mr. Bear is coming out of hibernation.

[walterray1]

Bad day to be offline. Need to find another online broker.

Any recommendations?

Just logged in without any problems.

[ithos]

Just logged in without any problems.

It looks like it was down since 9:15 AM.
Just a moment... (https://downdetector.com/status/charles-schwab/)

[ithos]

Vanguard and TD Ameritrade also saw thousands of outage reports, the website showed.
reuters.com (https://www.reuters.com/business/finance/online-trading-platforms-down-thousands-users-downdetector-shows-2024-08-05/)

[Normal]

Vanguard and TD Ameritrade also saw thousands of outage reports, the website showed.
reuters.com (https://www.reuters.com/business/finance/online-trading-platforms-down-thousands-users-downdetector-shows-2024-08-05/)

Are some ducking, knowing what is happening? Maybe the home front is taking care of itself first?

[Nell57]

My Schwab online account also just opened just fine.
If you’re planning on changing banks every time there is an outage during a hurricane you might be very busy.

[ithos]

Are some ducking, knowing what is happening? Maybe the home front is taking care of itself first?

I was actually going go to buy the dip. Maybe the outage saved me.:smiley:

[ithos]

My Schwab online account also just opened just fine.
If you’re planning on changing banks every time there is an outage during a hurricane you might be very busy.

I am going to get a second account so I will have two with liquid assets.

[manaboutown]

Schwab, Fidelity Traders Report Outages During Stock Meltdown (https://finance.yahoo.com/news/schwab-fidelity-traders-report-outages-142138613.html)

[LeRoySmith]

Market is getting clobbered. Mr. Bear is coming out of hibernation.

perfect time to buy

[vintageogauge]

Bad day to be offline. Need to find another online broker.

Any recommendations?

They crashed with the crash today.

[Robnlaura]

Bad day to be offline. Need to find another online broker.

Any recommendations?

They were flooded by clients wanting to sell.. Robinhood rocks

[mkjelenbaas]

Bad day to be offline. Need to find another online broker.

Any recommendations?
No need to find another broker - NO ONE can tell you ahead of a down turn - don’t buy high and now sell low- just saying!

[Dilligas]

Bad day to be offline. Need to find another online broker.

Any recommendations?
There are plenty to choose from, but a short off line period is not the reason to do so. For online trading, Thinkorswim (now part of Schwab) is by far the best. For market advice, make your choices, but not because of a onetime technical glitch.

[jedalton]

fidelity.com

[SaucyJim]

First, the hurricane had nothing to do with these outages. They were caused by too many people attempting to login at once. It was literally the equivalent of a denial of service attack created from actual humans - not computer viruses or hackers.

Next, I use protective stops. This way, I don't have to worry about logging in to get out of any positions. This protects my profits and my principal. I had one of twenty-eight positions trigger a sell yesterday. Walked from it with a small profit and now have capital to buy back into a new position that, because of this drop, will now be paying a higher dividend percentage.

Hope everyone else did okay. These things are temporary. They are also buying opportunities, so always keep some dry powder on hand. :)

[TSO/ISPF]

I was actually going go to buy the dip. Maybe the outage saved me.:smiley:

Managed to get a Roth conversion done during the downturn.
Getting close to MDR age.

[Grill Meister]

I highly recommend Kenneth Scott Wingerter, who is VP with Charles Schwabb. Kenneth has been my financial consultant for many years and has consistently brought me increased portfolio value. I would recommend you give him a call and make your decision based on what you and Kenneth conclude about his ability to meet your needs. He will first have you and himself determine your investment personality....agressive, conservative, middle-of-the-road and the two of you will go from there.

He's damned good:

Kenneth S. Wingerter

Vice President

Financial Advisor

NMLS# 2161893

Morgan Stanley Wealth Management

8889 Pelican Bay Blvd., Ste. 300 l Naples, FL 34108

Direct 239.449.7830

eFax 239.449.7850

Ken.Wingerter@morganstanley.com

[ithos]

No need to find another broker - NO ONE can tell you ahead of a down turn - don’t buy high and now sell low- just saying!

I think you missed the point. When markets tank at the opening and the VIX is sky high with no known catalyst it is in all probability going be a great entry point. It has happen several times before.

[walterray1]

I highly recommend Kenneth Scott Wingerter, who is VP with Charles Schwabb. Kenneth has been my financial consultant for many years and has consistently brought me increased portfolio value. I would recommend you give him a call and make your decision based on what you and Kenneth conclude about his ability to meet your needs. He will first have you and himself determine your investment personality....agressive, conservative, middle-of-the-road and the two of you will go from there.

He's damned good:

Kenneth S. Wingerter

Vice President

Financial Advisor

NMLS# 2161893

Morgan Stanley Wealth Management

8889 Pelican Bay Blvd., Ste. 300 l Naples, FL 34108

Direct 239.449.7830

eFax 239.449.7850

Ken.Wingerter@morganstanley.com

So, which is it? Charles Schwab or Morgan Stanley? Big difference.

[DAVES]

Bad day to be offline. Need to find another online broker.

Any recommendations?

It is all a matter of OPINION. I've never dealt with Scwabb except to see their TV ads.
I have had or do have accounts with T Rowe,Vanguard Fidelity, Franklin and RBC Daine.
Assuming you are in the Villages a major advantage for FIDELITY is you can take your golf cart to Lake Sumter and talk to A HUMAN. By phone they are opened 24 hours a day seven days a week. Part of knowledge is knowing WHO to ask. You may get a reply to a complex issue. You want to talk to he/she is not in would you like to call them or I can have them call you.

It may be easier, but no reason to all or nothing. Perhaps part of diversity is to NOT have all your money, investments in one place. Last two on my list were closed years ago for cause. RBC, I bought triple tax free bonds. The guy I dealt with left. Clearly their security was/is compromised because he contacted me to move my account to his new firm.
Book entry bonds, you need to hold them at a broker.They tried to charge me fees for holding the bonds THAT THEY SOLD ME. I had have an account at Fidelity. No money in it for them. They held the bonds for me at no charge. For years after RBC would call trying to sell me whatever. .

[DAVES]

[QUOTE=ithos;2357075]I think you missed the point. When markets tank at the opening and the VIX is sky high with no known catalyst it is in all probability going be a great entry point. It has happen several times before.[/QUOT

Why is the VIX sky high? Only need to watch the NEWS.

[CoachKandSportsguy]

They were flooded by clients wanting to sell.. Robinhood rocks

Robinhood broke some early morning trades so I wouldn't say that RH is immune from technology and trading issues.

The answer to trading the open is to get on line as early as the platform opened for the day, and put your orders in. No matter what, your order will be at the back of the line, and will get a lousy execution, relative to other days. .

not worth changing brokers for an hour or so of fast trading with outages in my opinion

YMMV

[CoachKandSportsguy]

I think you missed the point. When markets tank at the opening and the VIX is sky high with no known catalyst it is in all probability going be a great entry point. It has happen several times before.

maybe, maybe not. .
and this is not a situation with no known catalyst

You are correct that it has a higher probability, but not 100%.

good luck. .

[ithos]

[QUOTE=ithos;2357075]I think you missed the point. When markets tank at the opening and the VIX is sky high with no known catalyst it is in all probability going be a great entry point. It has happen several times before.[/QUOT

Why is the VIX sky high? Only need to watch the NEWS.

Haven't heard anyone trying to explain why the selloff happened. It is only conjecture but I believe some hedge funds or similar used too much leverage and they get were in a situation in which they don't want to but are forced to sell. I doubt it was every day investors logging on to a website and dumping everything. Maybe it was Warren Buffet dumping Apple or the Nvidia CEO exercising options.

Remember 1987? What caused that? Markets can be strange.

[PugMom]

FIDELITY~! :beer3:

[CoachKandSportsguy]

FIDELITY~! :beer3:

fidelity's Active Trader Pro (ATP) software requires too many clicks to be top notch
fidelity's lack of API for automated trading is a drawback
fidelity's execution slippage and rates are higher that at other brokerages.
fidelity has an excess of paperwork and restrictions to complete per account
fidelity has an automatic pre close position sell which other brokerage accounts don't have, big pain in the ass, when prices change a lot between 3:30 and 4:00 pm.

yes, i use fidelity because there is an office close by, 5 minutes, to get all the paperwork and other exceptional issues settled. I have an IBKR account for automated trading, but haven't found an acceptable profitable rule to use the API yet.

And I have had some major paperwork issues with fidelity, which took me several trial and errors to get past their legal review and standardized rules, like over a year. Yeah, i usually end up hitting the exceptions / error flags at most major banks and investment houses.

YMMV

[CoachKandSportsguy]

[QUOTE=DAVES;2357093]

Haven't heard anyone trying to explain why the selloff happened.

so then you don't believe that there are services which forecast and prepare traders for these events. There are people who aren't in the msm news who forecast and trade these days very profitably. . . I subscribe to one service and follow several others who mint money. Trying to figure out their signals myself. .

YMMV

[ithos]

They were flooded by clients wanting to sell.. Robinhood rocks

You are right. Lots of perks. I transferred to Robinhood. Schwab wasn't too happy.

[manaboutown]

Today when I booted up Schwab's website it had a notice posted its phones were out of service.