Make your money a few ticks at a time... 5 - 6 day trade a day of 50- 100 at the end of the week will add up...
Scan for a stock with some MOMO and play it for a cuple of ticks.... When I buy stock I buy enough for a $50 profit ( 5000 * .20 sell at .21 = $50 profit and so on ) ticks above your buying price a tick and place your sell inmediatedly 1 or 2, Specially on news plays and you will almost get it all the time,
[ May 17, 2006, 16:36: Message edited by: Prdponce ]
Posts: 5120 | Registered: Jun 2004
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posted
Prdponce went to far as to say take 50 dollar profits on 1 tick skims, but I say that if you can take a 100 dollar - 30 or 40 dollar commission, you are sitting pretty.
quote:Originally posted by Aleks: Prdponce went to far as to say take 50 dollar profits on 1 tick skims, but I say that if you can take a 100 dollar - 30 or 40 dollar commission, you are sitting pretty.
Got the LInk Above $ 7.00 a TRIP //// Posts: 5120 | Registered: Jun 2004
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Scottrade trade charges $7 + .5% for penny stocks, so that's pretty much 12 bucks per trade? This blows because I just realized this. Any brokers out there with lower commissions per penny trade?
Posts: 785 | From: la | Registered: May 2005
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quote:Originally posted by MoMoMoney: Scottrade trade charges $7 + .5% for penny stocks, so that's pretty much 12 bucks per trade? This blows because I just realized this. Any brokers out there with lower commissions per penny trade?
posted
lowtrades charges flat 3.50 for all trades, including penny stocks? Have you had any problems with them concerning anything?
Posts: 785 | From: la | Registered: May 2005
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Lowtrades is $5 too but after you make x amount of trades, the commission gets cheaper. If you are going to be trading 4-5x a day, lowtrade might be the way to go because once you hit like 400 trades, your commission is only $2.99. Pretty cheap compared to Schwab where I was getting charged $20 per trade! What a friggin joke that was.
Posts: 3026 | From: Chicago | Registered: Oct 2005
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quote:Originally posted by MoMoMoney: lowtrades charges flat 3.50 for all trades, including penny stocks? Have you had any problems with them concerning anything?
IF you place an order with quotracker... I dont have any problems at all...... NO a flat fee... go to the webpage no minumum to open ....
Posts: 5120 | Registered: Jun 2004
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quote: wait, this fee is only if you make a certain number of trades per month?
The initial commission for lowtrades is $5 per trade if you use their website. After you make 100 trades, the commission becomes $3.99 or something like that. The more trading you do, the cheaper the commission is.
Choicetrade is a flat $5 per trade no matter how many trades you make. I haven't have any problems with Choicetrade so far and I've been using them since last year.
Posts: 3026 | From: Chicago | Registered: Oct 2005
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TD is part of Ameritrade.........I scrapped my old TD account when I was getting socked with $50 and $80 commissions....
The only downfall to Ameritrade is that if you have under $25,000, you can only make 5 round trip trades a week before getting flagged... I agree with the $50 here and there ideal..
I usually get a few to do that for me from one day to the next... Slow and steady beats getting one big loss waiting...
Posts: 793 | Registered: Aug 2004
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Does Choicetrade or Lowtrades offer Level 2's? Scottrade has L2 but only of those who maintain 25k in their account. That is messed up.
quote:Originally posted by Homersbud: Choicetrade! $5 per trade!
Lowtrades is $5 too but after you make x amount of trades, the commission gets cheaper. If you are going to be trading 4-5x a day, lowtrade might be the way to go because once you hit like 400 trades, your commission is only $2.99. Pretty cheap compared to Schwab where I was getting charged $20 per trade! What a friggin joke that was.
posted
Just downloaded the Quotetrackerprogram seems like you can link it to many of the online accounts like Scottrade, ameritrade and so on but you have to put your account info and password info into the program to get it tooo link up , Just kind of leary about giving that info to a no charge type program ,, Has anyone used quote tracke with a program without using lowtrade as a primary trading program yet ?? I am going to check out the program though and see what options are offered it does say free L2s with the program too...
Posts: 1986 | From: Florida | Registered: Mar 2006
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-------------------- Making it a little at a time....Now is the time to determine if you are a man or a mouse. Posts: 1543 | From: Ogilvie, MN, US | Registered: Apr 2004
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quote:Originally posted by Gary59: Just downloaded the Quotetrackerprogram seems like you can link it to many of the online accounts like Scottrade, ameritrade and so on but you have to put your account info and password info into the program to get it tooo link up , Just kind of leary about giving that info to a no charge type program ,, Has anyone used quote tracke with a program without using lowtrade as a primary trading program yet ?? I am going to check out the program though and see what options are offered it does say free L2s with the program too...
With all the scams around...I would never give up my personal information to a 'free' anything.
-------------------- Making it a little at a time....Now is the time to determine if you are a man or a mouse. Posts: 1543 | From: Ogilvie, MN, US | Registered: Apr 2004
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Yep think Im gonna stay with my scottade looks like the quotetracker will only give info that you are subscribed too anyway ... So im not taking any chances
Posts: 1986 | From: Florida | Registered: Mar 2006
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It is a very good idea to have a couple accounts in case one happens to have problems like Scottrade. I happen to like Scottrade and Etrade.
Also should you have a small amount of money it allows you to kinda day trade. Depending on your account balances as few as 6 round trips or unlimited should you have a 25k margin accounts. If all you have is 4k seed money, split it up in 2 accounts then you have at least 6 round trips in a five day period. It increases your buying power with more trades. GLA
-------------------- It will run when you least expect it. :) Posts: 1161 | From: NC | Registered: Mar 2005
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Choicetrade..$5.00 a trade...Free realtime, L2's etc for 90 days...then 20.00 per month. Never had a singel problem with them Posts: 781 | From: NE PA | Registered: Jan 2006
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Multiple trades for small consistant profits are the way to go. I've been doing that with GTE and it works great if your disciplined enough to trade like that. The trick is to find stocks that have enough volume to get in and out quickly and that move 4% or more once or more per day. Even after commissions ($5.00 at Ameritrade Izone)that means good profits. My goal is $300+ per day. I can live on $1500 per week. Then every once in a while you get caught in a big gainer and have a really good day.
-------------------- BE HUMBLE, DON'T STUMBLE! Posts: 84 | From: Minnesota, USA | Registered: Jan 2004
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i like this topic . . this sounds like a great way to make money . . use 10k for 5-20% gains on daytrading and 10k for a couple long term stocks like NLST
i thought daytrading was only 3 trades per every 5 business days. Or is there a way around that rule by creating multiple accounts
-------------------- who says you cant trade stocks at 17!!? Posts: 288 | From: Wisconsin | Registered: Apr 2006
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