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Strategies & Market Trends : A.I.M Users Group Bulletin Board
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To: OldAIMGuy who wrote (4439)4/9/1998 4:53:00 PM
From: Bruce A. Bowman  Read Replies (1) of 18928
 
Hi Tom-

Reading your note jogged my memory about a discussion that Bernie and I had a few months ago on the subject of setting minimum trade size. One of the things he mentioned was that, as a business person, he was accustomed to making all his profits a few cents at a time.

That concept stuck with me. When you apply that thinking to minimum trade size, you find yourself trading in less than 100-share blocks and certainly AIM would have you trade in odd lots anyway. I found the concept contrary to what I'd done in the past when trading stocks and it was difficult to accept since I had only traded in 100 share increments. At the same time I thought nothing of buying or selling 3.751 shares of a MF. So, since none of the discounters I use have a minimum number of shares, I just set the minimum number of shares to trade in Newport and Excel to 1.

Now, I will admit that the first time I did this I didn't want to call in an order to "sell 22 sh MXWL @ 32.125" because I thought I felt silly! Well, I got over that when the orders started filling more frequently and the broker sure doesn't care that there's more orders in the account. Besides, the only ones that really know are the 2 computers at either end of the phone line! :-)

Bruce
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