Registered Members Login:
   
Forgotten Your Details? Click Here To Recover +
Welcome To The ShareCafe Community - Talk Shares And Take Stock With Smart Investors - New Here? Click To Register >

9 Pages (Click to Jump) V   1 2 3 4 > »    
 
  
Reply to this topic

General Trading Questions
mcart117
post Posted: Jul 22 2014, 12:26 PM
  Quote Post


Posts: 424
Thanks: 89


I have a question about trading alerts.

I know other SS posters use trading alerts, but my question is how many alerts do other users have in place at one time?

For historical reasons, I still have 80 odd ASX companies in my portfolio. I'm trying to whittle it down but it takes time. So for the time being, I like to have approximately 160 alerts in place.

Commsec only allows 25. NAB, which is where my alerts are parked for now, have just reduced their limit to 100. Westpac, from their web site allows only 25.

On my estimate, a single alert would use less than 200 bytes of server space, so based on retail prices for disk storage, a single alert would use up less than a millionth of a cents worth of server space. Most brokers charge 10 cents to send a single alert by email, and for that they could buy themselves enough server space to to 10 million alerts. So where these limits are coming from I do not know.

So I'm looking for a broker which applies common sense and allows effectively unlimited alerts.

 
joules mm1
post Posted: May 21 2014, 06:48 PM
  Quote Post


Posts: 1,354
Thanks: 359


In Reply To: joules mm1's post @ May 21 2014, 06:18 PM

if cancelling did not occur, how open to abuse of would an "honest input error" be ?
lol

QUOTE
(psst...i got a mate who knows how to make honest mistakes...just let me know when you want your stocks cheap...)




--------------------
. . . . . . . . everything has an art.....in the instance of the auction process, the only thing, needed to be listened to; price
 
joules mm1
post Posted: May 21 2014, 06:18 PM
  Quote Post


Posts: 1,354
Thanks: 359


In Reply To: mrbear's post @ May 21 2014, 04:04 PM

i got what youre saying...it's the broker and exchange that
agreed to the pull on processed orders regardless of what the code is regardless of whom the traders are
the fault is extraneous of normal market behaviour/function

if a seller was sold at that low rather than getting a fair value price at normal auction activity
( and it was a size player) then ASIC would be getting the rev up from the trader,
then asx would get the rev-up and the broker but where would the the auction participants benefit?

think of it this way (as it wasnt news spike or major volume etc) if the reverse was true and
you were offering at close-to current market price, but got filled 50% below that days (range) price
and you had to accept that someones input mistake cost you, what would you do and how would you recoup the loss?
the immediacy of pulling/cancelling the trade assists you (the seller) and the other trader (the bidder) in at least getting your capital free'd up to reuse...keeps the market efficient ....that's probably the closest you'll get to 'fair'... lesser of two evils

i maybe wrong

smile.gif



--------------------
. . . . . . . . everything has an art.....in the instance of the auction process, the only thing, needed to be listened to; price
 
mrbear
post Posted: May 21 2014, 04:04 PM
  Quote Post


Posts: 787
Thanks: 152


In Reply To: joules mm1's post @ May 21 2014, 03:01 PM

Hi joules,do you think if you accidentally hit the wrong price on an order and it was filled they would cancel your trade and give you money back if you lost,dont think so yet that is what happened but to a larger company that obviously has some pull not a private trader,cheers mrbear

 
joules mm1
post Posted: May 21 2014, 03:01 PM
  Quote Post


Posts: 1,354
Thanks: 359


In Reply To: mrbear's post @ May 21 2014, 01:25 PM

yes and no..... i mean .....who exactly should pay for the input mistake?

that would not be fair on the other traders if they are penalized for the input mistake

if the plunge was purely auction driven, then, yeah....i agree you should get best fill



--------------------
. . . . . . . . everything has an art.....in the instance of the auction process, the only thing, needed to be listened to; price
 
mrbear
post Posted: May 21 2014, 01:25 PM
  Quote Post


Posts: 787
Thanks: 152


In Reply To: joules mm1's post @ May 20 2014, 08:50 PM

I use comsec and I know about the orderly bit but if I put an order in at market and there is enough buyers to cover it the order should be filled.
As a private trader you are always behind the eight ball,years ago you might remember brambles opened at a great discount of $28 opposed to being $44 at trade the day before and promptly went back to $44 well I was one of the traders that had my order filled at $28 and thought,great,soon comsec rang and said they had cancelled all the opening trades and I could buy them at the market price then as a trader from some other broker had accidentally hit the wrong keys and was a mistake.
They then proceeded to withdraw that money and send me a confirmation order in the ensuing days at the lower price yet I did not own the shares and after a short phone call they gave the money back.
I did ask the question though that would you have forgiven me if I accidentally hit the wrong keys and refund any money I lose and of course no was the answer but I kept the certificate as a momento,cheers mrbear


Said 'Thanks' for this post: arty  
 


joules mm1
post Posted: May 20 2014, 09:33 PM
  Quote Post


Posts: 1,354
Thanks: 359


In Reply To: stezz's post @ May 20 2014, 09:16 PM

when you say "shows the data" are you referring to the DOM ?

iress is extra widgy bits with upto date (live-ish) dma data?.....but that doesnt change the extent of the data?
i mean, is the data (DOM and stamped volume)via iress the same as general commsec just delayed with out the presentation?



--------------------
. . . . . . . . everything has an art.....in the instance of the auction process, the only thing, needed to be listened to; price
 
stezz
post Posted: May 20 2014, 09:16 PM
  Quote Post


Posts: 321
Thanks: 26


In Reply To: joules mm1's post @ May 20 2014, 08:55 PM

Thanks Joules for following this up.

I've seen that the Comsec website data seems to be missing the CHI-X trades - which I assume they are looking to fix - but the comsec iress data actually shows the trades from both exchanges. I guess this is what has caused my confusion as most wouldn't be looking at the trades in real time on both exchanges and wouldn't have picked up the discrepancy.

I have no problem with the trades going through at mid pips or cross traded within the brokers system (actually i find this a little dubious) but this case seems to me to create an unevel playing field across the multiple markets.

An interesting example I came across of a stock I hold is BAB which is currently under an off market taker over from NGF. At one stage there were 2 undisclosed (iceberg / u-boat) bids at the offer price. One was through the ASX and the other via CHI-X. Someone was selling into the undisclosed bids. The ASX bid appeared first but the CHI-X bid was picking up all the stock offered at the bid price.

Maybe i'm just being a bit pedantic as I have a financial systems analyst background but would like to get to the bottom of it.
cheers, stezz

 
joules mm1
post Posted: May 20 2014, 08:55 PM
  Quote Post


Posts: 1,354
Thanks: 359


In Reply To: stezz's post @ May 20 2014, 03:33 PM

stezz



QUOTE (Ross P CommSec Representative)
10-10-2013 01:34 PM

Hi Joules_mm1,



The course of sales section on our website does not currently show Chi-X Australia Data. You will find at the bottom of the course of sales page a disclaimer with regards to Chi-X. I certainly hope this information can be incorporated soon as we have received feedback from our clients that they would like to see this information in the course of sales section. I do apologise if this has caused you any inconvenience.

Kind Regards

Rossano




--------------------
. . . . . . . . everything has an art.....in the instance of the auction process, the only thing, needed to be listened to; price

Said 'Thanks' for this post: stezz  
 
joules mm1
post Posted: May 20 2014, 08:50 PM
  Quote Post


Posts: 1,354
Thanks: 359


In Reply To: mrbear's post @ May 20 2014, 04:05 PM

participants have to keep an orderly auction.....
it means you got a better price and the bidder got a "fair value" price
maybe they based their decision on the vwap or such like

if you hand your order via broker, the broker can take to market when they see fit that's what makes them a broker
but if you said the same thing had happened because of the exchange then that's a whole diff convo



--------------------
. . . . . . . . everything has an art.....in the instance of the auction process, the only thing, needed to be listened to; price
 
 


9 Pages (Click to Jump) V   1 2 3 4 > » 

Back To Top Of Page
Reply to this topic


You agree through the use of ShareCafe, that you understand and accept the TERMS OF USE.


TERMS OF USE  -  CONTACT ADMIN  -  ADVERTISING