There was also a trade, same day and at about the same time on CEY that was much further away from market, about 17 points..why wasnt that one busted?
actually that is not how it works. you have to learn the rules and play the game according to those rules. why are you arguing with us. if you don't like the rules complain to arca to get them changed.
Not complaining, just a little bummed that my firm wouldnt do anything to help me out...I appreciate all the help here..Just an honest dialogue...thanks to all
Its worth a shot next time cover after 30min but callyour compliance to see if it was broken first so you dont end up long. But you do need to read up on the rules so you can understand this game a little better.
It was a good shot...does the other person have to complain to get trade busted or is it automatically busted by arca?And what about that trade on CEY? Why wasnt that busted? Thanks for your help
So basically you are asking your broker to take on YOUR market risk. Plain out you are asking them to give you cash. Admit it. Maybe the Salvation Army charity has a brokerage division you can use, cause that is what you are asking. Your agenda is to get some innocent 3rd party to give you cash. At the very least this is socialism, at the very worst it is extortion.
Exactly ! The way how trades are busted now by exchanges is definitely a criminal action. Somebody makes a mistake and other trades are paying for this mistake. Moreover, this also means that a broker manipulates customer's account. Busting can be done, but the losses that are caused by busting must be covered by someone who has requested busting.
Toronto..your reply doesnt even merit a response...yes, you must believe in socialism and not taking responsibility for your own actions... A.. I agree, if ther other person requested a bust because he screwed up, he should be responsible for the other parties loss.. Traderpro...you will probably know this...what happens if I buy a stock with my IRA acount and sell it before it gets busted..When it gets busted , it should be a short but my IRA account is not authorized to short stcoks...what happens?
Short sale violation. But your broker may view what happend and waive the fine. If you go out short a stock that is not shortable your firm would have to look around to borrow it.