posted
I use freetrade by ameritrade. The fact that you get your first 20 trades per month free really saves $, avoiding those commissions. You would have to give Scottrade about $25 per stock, trading pennies, apprx $12.50 in and $12.50 out. Some days you'll be looking for that $25 to soften the loss. DO NOT trade options with Scottrade either. Now, the only thing with freetrade is you need a minimum of $5000 to open an account, and everything is electronic. Been using them a month with 0 problems.
Posts: 4893 | From: Burbank IL USA | Registered: Feb 2004
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posted
You're right, I was just talking OB's. It's $22 plus .5% of the value of the trade, for pinks. Figure if you trade 10 in, 10 out a month at an average of $17.25 a trade, (thats 12.50 + 22.00 divide by 2, an average between OB & PK) Thats $345.00 a month. I have to do a lot of profitable trades to not care about $4140.00 a year. So, just at 240 trades a year tying up $5000.00 is well worth it. They don't charge you $5000.00 to have an account the money is your trade. Trades after the first 20 are only $3, then I think it drops to $2 over 100, and $1 after 200 trades.
[This message has been edited by will (edited March 24, 2004).]
Posts: 4893 | From: Burbank IL USA | Registered: Feb 2004
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posted
Well, LL, I used to way back in 1982. It seemed a lot easier back then. That is how I got back into trading, LL. I was touting everyone on LU. Telling them to mortgage their house and buy it at $0.75 . I didn't even have a broker, when LU hit $5 I couldn't control myself any longer. I marched down to the local Scottrade office, enlisted in the ranks of the "where's the next big deal". Then I immediately bought 10 contracts of LU April $5 calls at .25 and was going to sell it at .65. Only trouble is, I think, it saw .45, and I still have them at .05, the quote says .04, but I never saw them trade in anything but increments of 5 cents. I've been trading the pennies and if I'm not even I might be stuck for a hundred or two right now. Why you got any thing that you like? I was looking at ALVR Sept $15 calls, but it is a volatile risky one though. LL do you have a msn messenger user name, mine is tgc@hotmail.com
[This message has been edited by will (edited March 24, 2004).]
[This message has been edited by will (edited March 25, 2004).]
Posts: 4893 | From: Burbank IL USA | Registered: Feb 2004
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Oh well... I actually like them. Allbeit, they probably aren't the greatest for pennies. However, I didn't start the Roth so that I could trade pennies. I just kind of fell into it...
$7 Market order $12 Limit (if you do OB's it's $12 too) $22 for pinkies
Anyhow I also like them because there wasn't any IRA fees.
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