990 petition

[syrre]

Quote from Truff:
My suggestion is that if you recognize something odd, instead of complaining, turn it around and use it to your advantage.

Word.

 

[sputdr]

That kid is an idiot and he can make you alot of money if you stop being frusterated with him and use him like a 2 dollar whore.

He panics constantly so use it to your advantage.

 

[nitro]

Yes you can go way beyond your position limits if you are a member and have the capacity to walk into a pit on the floor. There is nothing from stopping a member leasing a seat or that owns a seat from bidding/offering size or even taking on size disproportionate with his account.

However, there are people in the pit that would notice (and whose job it is to notice) and would alert your clearing firm. You would at the very least be warned an more likely be gone that day. The markets are a small world and everyone pretty much knows everyone else. Once the word gets out about you and these sorts of infractions, you will probably never be allowed to lease or own a seat again in your life.

Only brokers whose clients have to send their orders in to their servers first before being routed to an exchange, which include electronic retail traders, have the capacity to monitor the size of what their traders are trying to trade in relation to their buying power/position limits.

nitro

Quote from jim c:

i dont think the clearing firm/brokerage firm would even let you enter an order that you dont have the money for. with a 20k account you would not be able to put in an order for 1000 minis. some clearing firms MIGHT if you are a huge trader with a few accounts. if you stack the market with bids i would think the money had better be in the account. anyone ever try this?