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Commsec ProTrader1 - FAQ and Tips

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Re: Commsec ProTrader - FAQ and Tips

rocker said:
i'm still trying to get PT2 up at the moment. I'll try to upgrade P1 after market.
Click to expand...


Hi Rocker, I have no problem running PT2, I just don't really like the platform much. PT1 is much better imo, but it looks like it will be no more if they force the upgrade ..... Cheers.
 
Re: Commsec ProTrader - FAQ and Tips

Barney, upgrade to P1 is fine. I also dislike P2 and dont use it unless P1 has server issues. There are no real differences yet that I can see...only a few minor cosmetics.
 
Re: Commsec ProTrader - FAQ and Tips

Hi guys,
P1 upgraded no worries now but P2 would freeze everytime i tried. Can't work
that one out. Just saved P1 first, then tried again and pressed run, and it
worked.
 
Re: Commsec ProTrader - FAQ and Tips

MS+Tradesim said:
Barney, upgrade to P1 is fine. I also dislike P2 and dont use it unless P1 has server issues. There are no real differences yet that I can see...only a few minor cosmetics.
Click to expand...

Thanks MS+,

I didn't do the upgrade cause I just assumed they were going to upgrade me to PT2 .....DOH!!! :homer:

I'm happy again now. Cheers.
 
Re: Commsec ProTrader - FAQ and Tips

Forced to do the PT1 upgrade, otherwise it just wouldn't work. I find PT2 useless for me 'cept for price alerts.
And now, I can't just right-click to do any buy/sell orders on the upgraded PT1, have to manually select the Orders Menu!
 
Re: Commsec ProTrader - FAQ and Tips

The only thing I like on P2 is the trade analysis function which doesn't appear to be on P1. If someone has found it would love to know.
 
Re: Commsec ProTrader - FAQ and Tips

Hey Guys,

Any one else got problems with the new version of PT this morning.. I have upgraded it as requested, but all my settings have gone and it looks like It can not do the maths on my totals and the codes are all out of wack..I also have not market summary...

arhhh I did not need this on a monday morning...
 
Re: Commsec ProTrader - FAQ and Tips


Yes, mine is screwed up as well. My news doesn,t stream, the Market Depth columns are set to stupid widths. I had a winge already to them.
 
Re: Commsec ProTrader - FAQ and Tips

Yep, I called and they said they are working on it... But @ the moment it says I have bought $934,508.34 woth a shares & they are worth $234,121,98. Which is not the case...

I could be in trouble if this was the case.... very unhappy ...
 
Re: Where is my order in the queue?


Hi yonnie

An alternative is to open up a commsec account. Minimum cost for top level access is about $145 pa (ie eto trade per quarter, so you can just buy a deep OTM option for <1c at $35 per trade and let it expire). That gives you access to their whole whizbang website plus ProTrader Platinum (shows options quotes, I recommend PT1 over PT2 as it is more stable).

You do however need to make an initial deposit of 5k to open a CDIA (commonwealth direct investment ac- no ongoing minimum but daily fees apply if you overdraw) and link it to your bank ac for clearing trades, that gives you the benefit of their internet preferred rate which is 19.95 per trade equity trade (upto $10k from memory, please check this). You also have to nominate them as your CHESS sponsor for trades that you clear through them. Please see www.comsec.com.au for complete details and a product disclosure statement, this is just my opinion of what may suit you based only on my personal experience, there may be more suitable solutions available elsewhere.

If you're stressed and require screen shots of the depth for a particular parcel please state the code and the price level and I'll try to post dumps in this thread- you'll will have to ID the number of shares in your order yourself once I post the dumps. Only for two stocks please, if you can get back to me within the hour that'll be best.
 
Re: Where is my order in the queue?

richkid,

seems like Comsec Professional Trader costs $ 82.50 per month, so thats a bit rich for me.

or i have to make 15 trades a month to have it for free.
 
Re: Where is my order in the queue?

yonnie said:
richkid,

seems like Comsec Professional Trader costs $ 82.50 per month, so thats a bit rich for me.

or i have to make 15 trades a month to have it for free.
Click to expand...

Hi yonnie

As you're already with Commsec (I assume you only have access to their web platform and don't use PT gold) you can call up and ask them for their eto form and complete it- that means you can trade options via commsec once it's accepted. All you then have to do is ask them to sign you up for PT platinum (they charge in arrears at the end of the quarter from memory) and make sure just execute one eto trade per quarter (about $35 per quarter as I outlined above in my earlier post).

I found out about this loophole through experience, slowly moved from their web platform to their top level software. Obviously they'd prefer to only talk about their headline monthly fee option for ProTrader access. If you just want to look at advanced market depth options this may not be attractive. Furthermore, I may have missed out on something that may prevent you from taking advantage of this backdoor rate which is clearly designed for options traders.

Now all that is only if you want to.
 
Re: Where is my order in the queue?

yeah, you`re right richkid

i can get Comsec Professional Trader free if I trade options once a month.

wow, I might even make a good profit on my eto trade!

thanks for the tip
 
Re: Where is my order in the queue?

yonnie said:
just realise that eto`s is on 1,000 shares, so that would add another $ 10 to the cost of the brokerage @ $35.

so the total costs would be $ 180 per year.
just got to see if there`s anything cheaper than that.

thanks
Click to expand...

Hi yonnie
Yes, apologies, my oversight. There is an options clearing house fee of about $1.12 per contract, so that's an extra $4.50 annually: $184.30 pa (34.95*4 + 40 + 4.50) for unfettered access pa seems about right depending on how low the option spreads go.

I'm not sure how realistic it is to buy options priced at half a cent or less- some of the experienced Aussie options players here on ASF may actually have data or knowledge of such trades.

You might even make a profit out of some of the trades but at one contract at half a cent they'd have to go to the moon to cover all your costs so don't think about that. Would be cheaper to trade options via IB as their commish is much lower.

Also, check to see if it's one options trade per quarter, as I believe it is, or if it's something more frequent. Note that the current commsec quarter is NovDecJan (from memory) .

See how you go with your research comparisons and verify with commsec before you decide. I may move some of these posts to a Commsec thread so look out in the trading resources forum if these posts disappear from this thread.
 
On a cautionary note, if someone does apply to commsec for eto trading permission note that even if your application is approved on the basis that you fully understand the risks involved, there is always the risk that options leverage will be used in a high risk fashion. If that happens the cheap access to PT platinum may result indirectly in huge losses so caution is warranted.
 
Hi guys

Anyone have a link that works for PT 1?

Got a new comp and need to install PT1 on it

Thanks in advance
 
Just a quick question from someone who is new to comsec's protrader...
In the ETO buy/sell window there is a dropdown list that says 'open/close'. I presume this is asking if you want to open or close a position, correct?
I would imagine if you are buying or selling would determine this though

Cheers
 
I don't think it matters too much, but there may be some quirk in the options system (clicks isn't it) that treats opening positions different to closing positions.

Open would be if you are buying calls/puts or selling call/puts to start a position and c

Close would be if you are selling bought calls/puts or buying back sold calls/puts.

I have done a open to buy back sold calls and go net long calls, it didn't seem to matter.

Maybe someone with more options knowledge can confirm
 
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