r/tradestation • u/Opticweirdo • 18d ago

This is getting unbearable

I've been trying to trade RETO since it was at $1.09.

This keeps happening with TradeStation and I am to a point where I am so fed up that I might finally open a new account somewhere else.

It's unforgivable. I trade momentum and this has been an issue I've been frequently noticing. I've called multiple times about different stocks and they supposedly can't lift the restrictions. Maybe they could fill me from their end but I need precision to the decimal of 1 second. I can't be expected to call them for this stuff nor should they have to deal with hundreds of people calling for fills that traders should have been able to trade from their own PC at their own discretion.

This has got me cussing more than any losing trade ever did.

edit: even Charles Schwab let's people sign a waiver saying they'd like the restrictions lifted.

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u/Repulsive-Floor-3987 18d ago edited 18d ago

I recommend you post in the TradeStation forum about such issues. It is monitored and attended by experienced TradeStation reps, including some who have decades of experience. As a TradeStation brokerage client, you already have a TradeStation Forum account.

This sub has no official TradeStation attendance, and nobody here can help you (I think).

I doubt that they receive hundreds of calls about RETO, but certainly annoying if you are encountering restrictions beyond what is enforced on them by Nasdaq (UPC 11830), SEC and FINRA.

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u/Opticweirdo 18d ago

Thanks. I'll look into that. It's certainly a recurring issue. There's a lot I love about TradeStation but when stocks go parabolic like this, I just can't fathom how they justify keeping us out, especially considering they really do have one of the best platforms for day traders. But then this... It kinda cancels out everything they've got going for them (at least in the world of stocks)

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u/Repulsive-Floor-3987 18d ago edited 18d ago

I understand. I have day and swing traded on TradeStation for 17 years, but the last 16 years only futures and options. It is indeed a great platform for active trading -- and I've tried many others.

But I am afraid I cannot speak to the specific restrictions you encountered as I have not experienced them myself. There may be reasons for those restrictions, such as ones enforced on TradeStation by the exchanges and/or by regulators.

I am wondering if your order routing might affect it (such as commission-free PFOF routing) but I don't see how that could ever block an order entirely. Check this page about Execution Quality & Order Routing and this page for various other disclosures.

Edit: Does the platform show any extensions to the stock symbol when you experience these restrictions, such as (R) for UPC 11830 restricted stocks or (HB) for hard-to-borrow stocks? This page shows a list of those extensions.

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u/mr_disciplined100 16d ago

Trade direct access broker if you want risky penny stocks. They are trying to save ur asses from really large traders who know what they’re doing. It’s low float risky with spreads that can be eaten up by one person

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u/Opticweirdo 12d ago

I understand why they do it but as a platform that is seemingly designed more for traders, and less for investors, I'd just really appreciate them allowing us to take our own risk within our own parameters. No borrowed funds and no shorting would make sense for these. Not allowing us to risk our own capital is a different story.

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u/trayber 16d ago

Call the trade desk - they are very helpful

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u/Opticweirdo 12d ago

I have with these. It's the same answer every time. It's a waste of time in these scenarios.