Did someone blow out at Bright?

Smaller lots = less money for Bright. Why buy 300 shares of GOOG when you can buy 50,000 SIRI?

 

I like Don and he seems like one of the good guys out there. But......it's very obvious why they don't want guys trading high price stocks.

 

hi don.. traders are not allowed to trade stocks over 100.00 without permission? can you clarify, does not make sense..

 

From previous page:

We simply ask for traders to be permissioned, primarily to protect traders from themselves (trading GOOG for example). We give most people enough room to trade most stocks. Our feeling is that we get a lot of slippage in the higher priced stocks, that's all.

We had a lot of traders ask for "permission" - most received it. You have to keep in mind that we have a lot of new traders still learning, and that's who we try to protect. FWIW, they are trading in very small lots anyway as they are honing their skills.

For most it was not even an issue.

Don

 

that makes sense, i guess its on a individual basis with your traders that can handle risk based to their strategy etc. thanks

 

Thanks Don. Makes sense.

 

Not the case at all....first off, many traders simply request to trade stocks over $100, no problem. New traders don't understand the gigantic slippage that can occur with expensive stocks, and we do our best to help in that regard.

We actually encourage traders to trade more shares by cutting per share pricing for shares above 1000 on any order.

(I know you understand, Atticus, I was basically answering the poster about the $100 stocks).


Don