Currently, my live feed software is limited
to maximum buys of 10,000 shares, generally,
and 15,000 shares for some prices.

I think E*trade does this to collect extra
commission fees for large orders. I really
don't know. Maybe there is another reason.

E*trade charges extra for telephone orders
which discourages me because commissions
are an important part of my projection
on very tight profit margins, like when
I am working only a one penny move to
make only a hundred bucks in an hour
or so.

Are you boys placing orders by telephone
or using a service which allows very large
block purchases?

Thanks,

I am currently at that site looking it over.

This I found:

"Trades greater than or equal to 10,000 shares
will incur a $0.0005/share charge with a
maximum of 1% of the trades principal amount.

Notes: Pennystock trading less than $0.01 and
are a part of an order that is greater than or
equal to 5 million shares will be subject to
additional charges"

This is probably why E*trade does not allow
large block buys through their software.

I will run some numbers through my number
cruncher, and have a look at this.

Thanks, Bazooka, for your help.

Thanks!

By the way, do you have a brother named Bret?

I currently use Ameritrade and Bart is right. As many shares as you want for 10.99. Another good thing is they use all MMs to process shares. From what I understand Etrade only uses 2 MMs therefore it takes longer for your transactions to proccess.

Another one you might want to look at is Freetrade. Ameritrade owns it as well but its a lot cheaper, hince the name "Freetrade." The only difference besides the price is that they only give support via email, not phone. However, I have emailed them and they respond very quickly.

All the big daytraders recommend them because their commisions can't be beat. Check them out at www.freetrade.com

From what I hear they have the same interface as Ameritrade just different colors. I'm going to transfer my cash account to them today and leave my IRA account at Ameritrade so I can still call in for phone support if needed.

GL!

quote:

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Originally posted by Purl Gurl:
Ok, Bart! I am off to look at Ameritrade!

Thanks!

By the way, do you have a brother named Bret?

Purl Gurl

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On the three day delay. This is a result
of a new SEC rule all private investors
must wait seventy-two hours for funds to
be released for stock sales. This is to
help prevent shorting of stock.

You will note, Market Makers, headtraders
and brokers, are completely exempt from
this rule.

What this rule has done for me, is severely
limit my ability to make a profit. What this
rule has done, is to make it easier for
Market Makers to rip-off the public.

I have written hundreds of letters to others,
noted in my posts about the "war" on Market
Makers, along with the SEC. My letters clearly
state this policy reeks of political favors
and corruption on the part of the SEC.

Watch for one of my hysterical rants about
a new NASD rule and obvious loopholes for
abuse, by the big boys on Wall Street.

My viewpoint, I see continuing SEC and NASD
rulings which harm private investors and
enhance abilities of the big boys to
continue with unethical activities.

Thanks to all for information on purchasing
large blocks of micro stocks! I sure others
will add to this thread. I hope so. This
is good information for everyone!

I like you already!

All funds from stock sales are held in
"escrow" for seventy-hours. You can
withdraw the funds, but you cannot use
those funds to buy stock, any stock,
at least according to some brokers
interpretation of the rule.

This rule is only suppose to apply to
"pattern day traders" but I find this
rule is applied to all investors. Their
is interest profit to be made off cash
deposited in personal accounts. Brokers
are motivated to hold that cash for as
long as possible to earn interest profit.
So, this rule is applied to everyone to
retain cash deposits for extra interest.

You see? A new rule which works against
private investors and benefits brokers
with significant profits. This is, in my
estimation, legal SEC corruption.

Wording of the rule leads you to believe
this only applies to buying the same stock
from which funds are generated. This applies
to any stock. You simply cannot use those
funds to buy, for seventy-two hours.

I tried a trick by wiring my funds out of
my account, then wiring those funds right
back in. Didn't work. E*trade now has a
policy of a seventy-hour hold on wired
in funds, along with earmarking funds
wired in as "unsettled" for ten days,
according to their customer service.

No doubt policies vary from broker to
broker. Check your own broker policies
on this, to be sure you know where you
stand on this new and abused rule.

I just accept this as I cannot use my
funds and profit funds, to roll over
back into purchasing. So now I have to
manage our funds better, this is, time
my buys and sells so I will always have
some cash funds available, with due
consideration given to a three day delay.

Again, Market Makers, headtraders, brokers
and off-shore brokers, are exempt from
this rule. This new rule only applies
to the American investing public. The
SEC policy is private investors are
criminals and we are responsible for
a majority of stock related problems.

I am insulted and quite indignant.

Purl Gurl

I use E-TRADE and I have purchased in the millions with no problems...$9.95 a trade
no surcharges at all....I have for the most part received all my buy & sells promptly...I have just applied for a FREETRADE account also and I will use both..I like using the margin account on E-Trade as that allows instant access to your funds which eliminates the SEC 3 day rule..I will use FREETRADE because they utilize 6 MM's as compared to the 2MM's used by E-Trade.

GAK! * blows smoke off her fingers *

This is hazard of typing at Warp 9 or greater.

I will try an order through the web interface,
next time I want to try large orders. Many
times I want to buy 50,000 shares and cannot.
Perhaps through the web interface, I can.

Kinda wondering if E*trade limits pro level
software to generate more commission fees.
Might be just a glitch I experienced.

Ya know, I am going to call them and directly
ask about this. Something is fishy.

Thank you, TRSTURGUT, for pointing this out.
Looks like I tricked myself into this limit
or E*trade is deliberately doing this for
the pro level software.

Walt

quote:

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Originally posted by ignorantbliss:
I use an Ameritrade cash account right now and I can sell one stock and use the money the same day for a different stock. However, I can't use the money for same stock for 72 hours. I know this from experience.

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i like ameritrade. i tried to open a freetrade acct to use along side the ameritrade features, but they dont habla espanol or just dont like foriegners. couldn't open the acct with freetrade with a non usa address. oh well.... i guess the 10.99 commissions are ok since i usually buy and sell in $2-5k blocks. you will like ameritrade/datek features, which are free with a minimum balance.

good luck

All benefit from your input and I am sure
all appreciate your efforts. Thank you!

Jim

quote:

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Originally posted by Junky:
give ChoiceTrade a call, ask about the ChoiceTrader platform, should be only 5 bucks a trade for an unlimited amount of shares.
www.choicetrade.com

i can't use them because i am Canadian. :O(

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