Direct Broking

[couta1]

I have been looking at the trades on a few shares, and wow there are so many odd lot trades going on, it is becoming a real problem. I do a lot of trading and getting to the stage where there is a gap between the buys and sells, I am so reluctant to put in a sell or buy order because if the risk of getting an odd lot but not proceeding with any further of the order. They become expensive shares. Odd lots are just a nuisance, and creates brokerage for brokers.

Blame sharesies.

[bottomfeeder]

Look at CVT today, there was a seller of 2000 at 313. There was odd lot trading, quite a bit. Then as the price dropped, the seller had to reduce their ask to 310, just to make the sell order worthwhile. Stinks, just where do all of these odd lot trades come from. They must be losing money for the seller with the brokerage on selling two shares. I just dont believe that there is honesty going on here. I did once think someone shafted me on a little traded share once, where I appeared to be bidding against another buyer, when we were jockeying for a position, then an odd lot trade. Either the other party was getting free brokerage or they eere quite willing to lose $30 just to annoy me.

[couta1]

Look at CVT today, there was a seller of 2000 at 313. There was odd lot trading, quite a bit. Then as the price dropped, the seller had to reduce their ask to 310, just to make the sell order worthwhile. Stinks, just where do all of these odd lot trades come from. They must be losing money for the seller with the brokerage on selling two shares. I just dont believe that there is honesty going on here. I did once think someone shafted me on a little traded share once, where I appeared to be bidding against another buyer, when we were jockeying for a position, then an odd lot trade. Either the other party was getting free brokerage or they eere quite willing to lose $30 just to annoy me.

Bots work both sides of the market simultaneously, they only lose to make more. Lol

[RTM]

Look at CVT today, there was a seller of 2000 at 313. There was odd lot trading, quite a bit. Then as the price dropped, the seller had to reduce their ask to 310, just to make the sell order worthwhile. Stinks, just where do all of these odd lot trades come from. They must be losing money for the seller with the brokerage on selling two shares. I just dont believe that there is honesty going on here. I did once think someone shafted me on a little traded share once, where I appeared to be bidding against another buyer, when we were jockeying for a position, then an odd lot trade. Either the other party was getting free brokerage or they eere quite willing to lose $30 just to annoy me.

That sounds aweful. Doesn’t affect me so much as I only make a few transactions.
Have you discussed the matter with DB ? Can they/ will they help ?

[bottomfeeder]

WTF, nearly every share I am following has odd lot trading going on. Just what is going on. There used to be a system of uneconomic parcels, which could not be bought and sold. Every now and then a company would buy up the uneconomuc parcels and get rid of them. I think brokers are doing this on purpose to generate brokerage. The $30 min brokerage, doesnt cover the cost to the exchange, or the company for processing the share transfer. Its like the freeloaders in the Koro Lounge. Not that I have ever been in there. But it must be annoying for those that paid the full cost to be members.

[couta1]

That sounds aweful. Doesn’t affect me so much as I only make a few transactions.
Have you discussed the matter with DB ? Can they/ will they help ?

They can only help with a brokerage negotiation but the machine trading is a big part of the market now and is legal(Cough,Cough) and here to stay.PS-It must be unsettling for you guys that dont trade much but for people like myself we've been working with the machines for years now, we can smell their presence yet live and work around them(Sounds a bit like Transformers aye)

[bottomfeeder]

The DB website, gives minimum holding requirements for shares at certain value. They state that orders will be reversed for those not fullfilled at these min holdings, yet so many odd lot trades going on. Ive been caught a few times. I was buying mpg at one stage where I bought one share at 50cents. That was an expensive share. I rang DB, and cancelled the purchase. They said they would do it this time. I have been caught out again and again. I have not seen so much odd lot trades going through as have been carrying on recently.

[bottomfeeder]

Just looking at WBC (westpac) on the NZX. There is a purchaser sitting there for one share at 3100. That means at min brokerage, you are paying $60 per share. Way above mv even at 3100, let alone $60. It looks to me that someone is trying to discourage large dufferences in buy and sell quotes, by making it uneconomic, with odd lot trades ir something. The sell quote is 3150, the buy quote is 1 at 3100 and last sale and second in line is at 3070.

Got to get to the bottom of this. I have also emailed the NZX.

Who is it tgat wants to buy one share at $60. I presume ut us someone who doesnt pay brokerage. ie a broker.

[couta1]

Your not listening bottomfeeder(Rise of the machines)

[winner69]

Your not listening bottomfeeder.

...but bottomfeeder say he’s going ‘to get to the bottom of this’ ....sorry, couldn’t resist