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Strategies & Market Trends : The Covered Calls for Dummies Thread

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To: JohnM who wrote (2762)	10/16/2001 10:27:56 PM
From: Dominick	Read Replies (1) of 5205

I traded an IRA account with a firm years ago whose software allowed me to short. Probably a poorly written software program. When I found the error I reported it to the broker. If it was a profitable trade they made up the difference in commissions. If the trade was a loss they would charge me the amount as a commission. For example I had a $720 loss so they billed me $720 commission on the trade. The firm is required to notify the NASD of trade errors and must correct them. You cannot short in an IRA. I believe the software today will not allow you to sell shares you don't own. Regards, Dominick

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