Even lots (100's) or not?

just round your trades to the nearest whole #, geez what real diff could it possibly make??? so what if you buy 200 shares rather than 212?? lol you are creating headaches (for us all) where none exist

 

Since IB doesn't allow odd lot purchases, I will usually buy 100 shares, turn around and sell the portion I'm not supposed to have in my "basket" of stock.

As part of a $50K or $100K basket, some trades will be say, 666 shares and others will be for 49 shares.

My slippage is limited as I'm selling back the shares I don't want in a rising market, since I initiate baskets as the market is rising.

So far strategy is working OK.

IndexTrader

 

Nice board here. Thanks for the advice.

Got my trades off without shooting myself in the foot! All within a few cents of the open. I decided to trade even lots...even though I am a once-a-week basket trader.

Yeah...200 or 212.....doesn't really make much difference to me in terms of my portfolio stategy. So I think I'll stick with the even lots.

And, of course, I don't want all you day traders throwing rocks at my house because I stuck you with an odd lot.



Cheers, lads.
saxon

 

IndexTrader said:
“Since IB doesn't allow odd lot purchases, I will usually buy 100 shares, turn around and sell the portion I'm not supposed to have in my "basket" of stock.”

No need for that IndexTrader – IB will allow you buy 1 stock share.

I know because I’ve done it by accident – ended up with one whole share of SANM – lucky boy.

 

Not for exchange-listed stocks.

What's always puzzled me when I get hit for those 1 or 2-share fills is why the person didn't then realize the mistake and hit me again for the rest. Or maybe there really are people out there that buy 1 or 2 shares on purpose

 

If you are starting out. Figure out what your stops are first.

Than instead of doing 212 shares do 1 shares on NASDAQ with Island and keep a mental note of what you would have made/loss with it.

On NYSE stocks you can do odd lots but use ARCA



the other posters may think you are crazy and it bothers them because they want to be filled by 100 shares + but why risk losing more than you have to.

Once you have a feel for things move to even sizes.

Robert Tharp

 

No longer with IB. Last spring they decided it wasn't good for their customers to use ARCA for marketable listed stock orders.