Trading with Less then 100 shares Lot

mvptrader18 · Jan 13, 2011

u can check out wts

NKNY · Jan 13, 2011

I've been told that you can go through inet. May cost a bit more though.

Tranbo · Jan 13, 2011

So far I have not found a prop firm that will allow trading Google, Apple or stock price over $100...in Odd Lot. If you know one please post here.

Thanks

Maverick74 · Jan 13, 2011

Quote from Tranbo:

So far I have not found a prop firm that will allow trading Google, Apple or stock price over $100...in Odd Lot. If you know one please post here.

Thanks

Why not trade options on it. Lots of firms daytrade options on these stocks. Often time there is more liquidity on the options then the stock.

NKNY · Jan 13, 2011

Quote from Tranbo:

So far I have not found a prop firm that will allow trading Google, Apple or stock price over $100...in Odd Lot. If you know one please post here.

Thanks

Call dimension. I'm pretty sure you can through inet.

Tranbo · Jan 14, 2011

NYSE is allowing Odd Lot Trading see report below

NYSE Odd Lot Transactions

The New York Stock Exchange specialists reported the following odd-lot transactions,
in shares, for January 13.

Odd Lot Purchases 19,326,367
Odd Lot Sales 11,181,026
Odd Lot Short Sales 8,073,154
Odd Lot Purchases Dol Vol $831,864,315
Odd Lot Other Sales Dol Vol $475,289,652
Odd Lot Short Sales Dol Vol $351,885,118

So if I just trade NYSE listed Stock...will I get fine by NASDAG for violating their Odd Lot Rules?

Here is the Link go yesterday report 01/13/2011

http://online.wsj.com/mdc/public/page/2_3024-oddlottrades.html

Here is the link to NYSE Changes

http://traderupdates.nyse.com/2010/06/shares_elimination_of_the_nyse.html

Don Bright · Jan 14, 2011

Quote from Tranbo:

NYSE is allowing Odd Lot Trading see report below

NYSE Odd Lot Transactions

The New York Stock Exchange specialists reported the following odd-lot transactions,
in shares, for January 13.

Odd Lot Purchases 19,326,367
Odd Lot Sales 11,181,026
Odd Lot Short Sales 8,073,154
Odd Lot Purchases Dol Vol $831,864,315
Odd Lot Other Sales Dol Vol $475,289,652
Odd Lot Short Sales Dol Vol $351,885,118

So if I just trade NYSE listed Stock...will I get fine by NASDAG for violating their Odd Lot Rules?

Here is the Link go yesterday report 01/13/2011

http://online.wsj.com/mdc/public/page/2_3024-oddlottrades.html

Here is the link to NYSE Changes

http://traderupdates.nyse.com/2010/06/shares_elimination_of_the_nyse.html

(Assuming you're trading at a prop firm) - Remember you don't have an account, you're trading the firm's account. You simply have a sub-account for P&L purposes. Otherwise, you and other traders in the firm would be subject to aggregate positions and short sale rules. This means that if someone else is short GE, and you're long, you have to mark your sell order "short" which could put you in negative situation. There are other reasons as well.

So, you need to ask your Firm what their rules are, what their SRO's rules are, etc.

All the best,

Don

Tranbo · Jan 14, 2011

Thanks Don for enlighten us on this info. Does prop firm allow to bet against their own trader? and for Aggregation of shares and orders between the sub account. Is this SEC rules or Prop Firm setup & enforce this rules?

How is PNL of Prop firm computed?

Don Bright · Jan 14, 2011

Quote from Tranbo:

Thanks Don for enlighten us on this info. Does prop firm allow to bet against their own trader? and for Aggregation of shares and orders between the sub account. Is this SEC rules or Prop Firm setup & enforce this rules?

How is PNL of Prop firm computed?

I can't speak for every firm, but our firm does not ever trade with one of our traders - not only immoral, I'm sure it's illegal too.

Like any other business, we charge something for services provided, capital use (only on high leveraged overnights), then we pay our bills, we keep what might be left over.

We follow all the rules that involve us of course...with the help of a great Compliance Officer. Then, I guess the rest of the "rules" are based on common business sense and our own personal way of doing business. Always try to be fair - the only business relationships that survive and flourish, in my opinion, are those that work for both parties.

edit: The PnL for the trader goes to the trader. They are independed members of our LLC.

Don

Maverick74 · Jan 14, 2011

Quote from Don Bright:

Like any other business, we charge something for services provided, capital use (only on high leveraged overnights), then we pay our bills, we keep what might be left over.

Don

You keep what "might" be left over? Don, you made my week man. That quote is classic. You are like a mob boss that pretends he makes a buck or there, working man you know. LOL.