shorting ETF's- have to mark "short"?

Quote from rtharp:


Prop traders don't account for individual trades it's one of our edges. The form is a K-1 though not a 1099
More...

Thanks Robert,

That was my understanding, but the posts on this thread made me a little worried. I suppose the comments simply have to do with how the firm's accounting handles the trades.
 
Quote from mgkrebs:



I've been told by Echo that is does not affect the fill. You get filled on a downtick no problem. THis has been my experience. They asked me to mark them short and I complied. No difference in my fills.
More...

although it has been awhile since i have traded the qqq's, i marked the order "short" and was able to hit the bid on a downtick no problem!!!! i don't see what the big fuss is all about.
 
if it is an extra step it is an extra step too many. Is this a big deal. It depends if it costs the trader money. Is it a deal killer, probably not, but it again it depends on the circumstances, which I do not know nor do a claim to know. I thought it was silly to have to mark them short, and I think it would be silly if this turned into anything more than a discussion.
 
by the way I reread this and I did not mean to imply it is an extra step at your firm. I just meant in genral the easier it is to get and order off the better. I have no experience with echo's systems. It may just as easy to mark a trade short. Therefore it would be no big deal.
 
there is no extra step......it is just as fast to hit short as it is to hit sell. either way it is one step.....the trader will never know the difference.
 
You must log in or register to reply here.
Back
Top