OmniVest Forum : Risk Control Requests (& other Account Settings) : Filter to Stop Trade on small number of shares

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OmniVest User Forums Risk Control Requests (& other Account Settings) Filter to Stop Trade on small number of shares		Last Activity 5/17/2016 11:06 AM 3 replies, 844 viewings

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Pete Taylor

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Location: N Bradley, England

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Subject : Filter to Stop Trade on small number of shares
Posted : 10/27/2012 12:19 AM
Post #21645

Would it be possible to have an additional filter that could be used by people that will not or can not use the trade Processor & linked Brokers & want to limit the minimum number of shares traded. For example say I don't wish to trade less than 100 shares. This would help people outside the US where they don't have access to all US Brokers or wish to use other ways of investing e.g. Spread Betting etc where minimum commissions or sizes apply. Thanks.

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Alain

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Subject : RE: Filter to Stop Trade on small number of shares
Posted : 10/27/2012 3:57 AM
Post #21646 - In reply to #21645

Yes I do not understand why it is forbidden for people outside the US to open an account to gxtrader; fortunatly MB Trading authorize it. I agree it could be great to get this filter : minimum of XXX shares.

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Jimmer

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Subject : RE: Filter to Stop Trade on small number of shares
Posted : 10/27/2012 12:51 PM
Post #21648 - In reply to #21646

Alain and Pete,
As I remember, Ed Downs has indicated in another thread that having GXT available outside the U.S. will be influenced by the number of new GXT clients inside the U.S., as something like a critical mass is important. As cheap as the commissions now are at GXT they will become even more attractive when OV starts actively trading. That likely will attract more traders to GXT and allow them to expand their services. Ed has also indicated that he is exploring having a maximum commission cap on GXT trades which also would enhance their competitive pricing on large orders, say, 1000+ shares. In the meantime MB Trading is an excellent choice.
RE: Filter to Stop Trade on small number of shares.
That filter would need some flexibility controls to avoid filtering out symbols similar to AAPL, unless of course 100+ shares wouldn’t disturb diversification. Lucky them!

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Alain

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Subject : RE: Filter to Stop Trade on small number of shares
Posted : 10/27/2012 11:53 PM
Post #21649 - In reply to #21648

Thank you so much for that answer Jimmer, I did not know what you have written about Ed Downs and GXT.
For Filter to stop, you are right and I agree. But what I notice is that for some strategies like R4-L-ELS, I had 0.01% QTY%. And 0.01% QTY% means QTY : 1 share ok KGC, and price of KGC is $9.77...as MB Trading charges me a minimum of $4.95, it will be very difficult to be a winner on that trade. :) We have to find a solution to that problem. Prehaps, we should avoid a trade less than $5000.

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