quote:Originally posted by dejavu: Prdponce, Any recommendations on the level II services to use with QT?
Thanks, dejavu.
Dejavu,
I use Stockwatch for level II ...it integrates well with QT.. Also the news feed is excellent. It seems to be the best for the price and there is no charged to set it up like others....
As for you over 100K shares question the masimum is about $3.00. plus the commision of 3.50 with QT....
posted
Have been using Quotetracker integrated with MB Trading for a while now. A great program, it can be configured to meet almost anyones needs. The customer service is very fast and friendly and the program is being improved all the time. MB Trading is a good broker also. Haha I sound like a promoter, but think these can be of use to anyone looking for a good trading setup. I may configure QT more like the setup Prdponce has and give that a try.
-------------------- Pull on your boots,Slap on your hat, Relax, and Enjoy the ride.
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quote:Originally posted by dejavu: Thanks a Bunch Prdponce. Visual example is worth thousand words. I couldn't get a visual idea and you cleared that out.
dejavu.
I forgot you will see a push pin on all the windows... Make sure they are all pushed in, linked, and once you click on a symbol the charts, history and daily, news, trade order level 2 , T/S, they will come up for it... and if you want to buy it, push the buy bottom everything is set up but the QTY... Hardly miss any news play...
You can make a buy decision in less than 5 Sec with a click of the mouse.....
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posted
I use Lowtrades and have been pleased. They are by far the cheapest for penny stock investors who buy huge #'s of shares and don't need the dreaded charge per share garbage fees or fees for so many shares over a certain limit. But I do not like the fact that I have to wait 3-4 days after a sell until the money posts in my account. Does other online trading co's do that? I would like to be able to daytrade but that prevents me from being able to do that. I do not have alot of money in my trading account. I would like to start trying to get 10% a week but if I could get the money to post sooner in my account; I could possibly do 3 daytrades a week. That would be 30% gain potential each week. Any thoughts? Thanks
-------------------- It's all about Jesus! <
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I know the feeling. I assume by what you write that you opted for the cash account. What you need in your situation however is a margin account, that way the money is posted in your account instantly without having to worry about the 3-day settlement rule. However be careful!! If you do more than 3 day trades (buy WXYZ and sell WXYZ in the same day) in 5 business days, your margin account will be flagged as a "Pattern Daytrader Account", and you're in trouble if you don't have $25,000 in your account. If that's the case, the broker will block your account from taking on other positions for 90 days until you add enough funds to your account so that your account value is at least $25,000, however I think you can sell positions at any time during those 90 days (anyone correct me if I'm wrong on this one!)
This is an SEC rule and is therefore the same for all brokers (except for some overseas ones, like one I use here in Belgium among others in America, I can daytrade without restrictions however commissions are crazy!), so unless you have $25,000 I'd be really careful with the amount of day trades you do.
quote: I use Lowtrades and have been pleased. They are by far the cheapest for penny stock investors who buy huge #'s of shares and don't need the dreaded charge per share garbage fees or fees for so many shares over a certain limit. But I do not like the fact that I have to wait 3-4 days after a sell until the money posts in my account. Does other online trading co's do that? I would like to be able to daytrade but that prevents me from being able to do that. I do not have alot of money in my trading account. I would like to start trying to get 10% a week but if I could get the money to post sooner in my account; I could possibly do 3 daytrades a week. That would be 30% gain potential each week. Any thoughts? Thanks
I use Choicetrade and when I sell something, I have until the end of the day to buy into another stock or else wait 3 looooong days before the funds clear. So I usually buy into something else before the day is over. Works pretty well so far!
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quote: do you to wait the 3 days before you can sell it?
Nope!
In fact, I sold a small portion of IPRE on Thursday and bought in RMDG. I sold RMDG first thing Friday morning, and got into WNSH afterwards in which I sold some later in the day.
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posted
I've heard alot of speculation about what a pattern daytrader really is and what actually happens. So I actually experimented. I was flagged a pattern daytrader about a week and a half ago, 90 day restriction and all. I then called and asked what was going to happen to my account(previous phone calls to ETrade only got me their standard definition).
Well, to my suprise my helpful Indian friend simply stated that now I could only trade with settled funds. So...now I simply buy and sell with already settled funds. They even let me add margin capabilities to my account to help me further.
Honestly...it's like nothing even really happened in my account.
This is not meant to tell people to ignore the rules and daytrade to ones demise. I'm just stating what I discovered about MY account with ETrade.
IGNORE ME PLEASE!!! I AM A NEW MEMBER AND I GENERALLY ONLY CONTRIBUTE NONSENSE!!!
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posted
This is kinda what I was saying about brokers simply wanting protection re margin calls...
CRab, please describe the activity that got you "flagged" in the first place.
Thanks,
--tex
quote:Originally posted by CRab: I've heard alot of speculation about what a pattern daytrader really is and what actually happens. So I actually experimented. I was flagged a pattern daytrader about a week and a half ago, 90 day restriction and all. I then called and asked what was going to happen to my account(previous phone calls to ETrade only got me their standard definition).
Well, to my suprise my helpful Indian friend simply stated that now I could only trade with settled funds. So...now I simply buy and sell with already settled funds. They even let me add margin capabilities to my account to help me further.
Honestly...it's like nothing even really happened in my account.
This is not meant to tell people to ignore the rules and daytrade to ones demise. I'm just stating what I discovered about MY account with ETrade.
IGNORE ME PLEASE!!! I AM A NEW MEMBER AND I GENERALLY ONLY CONTRIBUTE NONSENSE!!!
-------------------- Nashoba Holba Chepulechi Adventures in microcapitalism...
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posted
It was actually during the NDOL fiasco. I bought and sold it several times. I said it was an experiment...lol...it was just an idiot new guy mistake though. I didn't keep a log of how many trades I had already made(dumb). I went over my limit obviously.
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quote:Originally posted by CRab: It was actually during the NDOL fiasco. I bought and sold it several times. I said it was an experiment...lol...it was just an idiot new guy mistake though. I didn't keep a log of how many trades I had already made(dumb). I went over my limit obviously.
no, really--thanks a lot...supports my new outlook, which is day-flipping the same stock is what you gets you tagged, NOT buying/selling any ol' thing in the same day...
-------------------- Nashoba Holba Chepulechi Adventures in microcapitalism...
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like I said though...I haven't really noticed any difference in my trading...as long as I have free cash I'm good...
they do give you the option to just make a deposit to cover the funds used before being cleared...
my friend from etrade even said I could just sell off another security to cover the uncleared funds...this is because of the five day window...you sell and presto, clear funds three days later covering your uncleared mess...which really isn't messy, lol...
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quote:Originally posted by CRab: yep that is my understanding...
like I said though...I haven't really noticed any difference in my trading...as long as I have free cash I'm good...
they do give you the option to just make a deposit to cover the funds used before being cleared...
my friend from etrade even said I could just sell off another security to cover the uncleared funds...this is because of the five day window...you sell and presto, clear funds three days later covering your uncleared mess...which really isn't messy, lol...
this is something K used to say: "trade cash account and don't worry about it"
-------------------- Nashoba Holba Chepulechi Adventures in microcapitalism...
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You can avoid the buy in and out of the same stock or security buy moving the date or strike of an option. You can move to other stocks in the same industry. All that does is let you sell and buy in the same day as above without breaking their rules.
If you have over 25k In the account then all goes out the window.
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posted
What ever the settlement time is for a security is what is governing this stuff. ( stocks 3 days )Options ( Options 2 days )settle faster than stocks and stocks settle slower or a day later the options. ( Todays so called world )
None of it is true in the real world. ( We all know they take our money in .5 seconds. ) The SEC just says that is how it is. So the brokerages grab all the money shares or whatever and collect the interest on it for a few days. Must be billions since they like it so much.
[ May 21, 2006, 02:59: Message edited by: Bob Frey ]
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