Australian (ASX) Stock Market Forum

Broker for US stocks and Commodities

25 December 2018
Hi I was just wondering if anyone knows of a broker that has an overnight trading desk that will allow me to trade US stocks and Commodities . I know that these options are available through electronic trading platforms like CMC markets etc which would be a lot cheaper in terms of brokerage and commissions . There are a few reasons why I am looking towards this service including outsourcing the risk to a broker and I don't usually keep night time hours so I require someone to act on my trading plan when I'm sleeping . Waking up every few hours to monitor positions would create anxiety and could possibly cloud judgement interfering with daily rythyms etc . Perhaps overnight trading desks are becoming a thing of the past with all the electronic platforms so I don't know hard it is to find someone for this function . Whilst I don't require a full service broker there are a few elements of advice that could be required before trade execution . These would include talking to a broker a few days before and making a decision on the best put or call option position to take . Once this is established I would call him up or email him on the date and time planned to enter the trade and even beforehand such as the night before I could submit a trade plan with a time based stop. The Time based stop is if an instrument trades below the time cycle low it would indicate that the cycle is invalid and trigger a stop out . Having this criteria mapped out beforehand I could issue the instructions to a broker and outsource the mechanical decision to him which he could probably set into his computer . Giving the broker the trade parameters is an unemotional and automatic function for him and happy to pay a bit extra for this service . Sometimes my level of discipline can be a bit weak sometimes in terms of executing strict stops so I want to outsource this process to a broker . Maybe the broker may have an online platform that I could use to place the trade and then once the trade is executed I could contact the broker manually and instruct him to set a stop in the market .
Maybe electronic platforms have a stop function for stocks and Commodities but perhaps not for options . Also if I placed a stop manually through the computer at a certain price and on the next session price gapped down through the stop preventing the stop to be executed at the predefined level I would probably not be stopped out . Any advice appreciated thanks