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I was wondering if choicetrade allows you to buy on the bid and sell at the ask like Scottrade. That is why scottrade charges 1/2% capital for stocks under $1.00.
posted
Choicetrade doesn't charge you any % for stocks under $1 ... at least i have never been charged... and don't make me hurt you Tex for knocking Choicetrade lol jk
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Ernesto "Che" Guevara de la Serna Posts: 4669 | Registered: Mar 2004
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quote:Originally posted by Machiavelli: Choicetrade doesn't charge you any % for stocks under $1 ... at least i have never been charged... and don't make me hurt you Tex for knocking Choicetrade lol jk
Does Choicetrade buy and sell at the bid/ask or when you put a limit order in do they just turn it into a market order once the stock price hits that amount???
Posts: 38 | Registered: Jan 2006
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quote:Originally posted by Machiavelli: Choicetrade doesn't charge you any % for stocks under $1 ... at least i have never been charged... and don't make me hurt you Tex for knocking Choicetrade lol jk
doh! I don't think *either* of em can you with buy/ask tactics...
no way, man...I'm still gonna try C-Trade with my new account, but I got delayed by about 10 g's...should happen in the next few weeks, though...
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Sometimes I have to believe that Scottrade users are as duped (maybe doped) by the hype as the habitual AOLer that believes that BS about the internet being too dangerous to wander out into it without the "protection" of Papa and Mama AOL to save them from the bad guys.
There may be things about Choicetrade I'd like to change, but none of them would be to make it be like Scottrade. Much too often I see Scottrade users who bid the same amounts as me at the same time end up geting higher prices on buys and lower prices on sales and I marvel that they report how wonderful Scottrade is. And I haven't found a stock I can't buy or sell on Choicetrade, provided it isn't stopped....that ISN'T the case with Scottrade.
My actual recommendation is not to switch to Choicetrade, but to have it and another broker (I have Lowtrades also). I try always to buy stocks under $1 and pinks and OTC with Choicetrade (because I can put stops on them) and I try to use Lowtrades for the rest (Lowtrades is way cheaper to get realtime quotes, L2s, and time and sales than Choicetrade).
Posts: 11304 | From: Fort Worth, Texas | Registered: Mar 2005
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quote:Originally posted by tippytwo: Scottrade always buys and sells at the bid/ask
so if you put a sell limit of $.70 in for a stock...the stock price could be $1.10
the bid-ask spread be $.69 x $.1.10 and Scottrade won't execute your order until the bid hits $.70, regardless of the stock price.
Does Choicetrade do the same?
-T2
not in my experience; there's been times when I went outside both the bid (on a sell) and the ask (on a buy) just to ensure a quick turn, and I got better than my limit order. That is one thing I can't fault Scottie on...
posted
lol, Level I is what "everyone" can see: the pps, high/low, the chart etc...
Level II shows more detail, of primary interest is which MMs are on bid/ask; you can guage possibilities of a run knowing "who's on first," and by following as certain MMs move, or even come and go...
btw, wasn't laughing at you, but the funny way you asked your question...pretty good
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i have sold on the ask and bought on the bid many times. i dont see why people throw crap on ST saying that the orders are filled slowly. its up to the MMs on how fast its filled, plus how many shares are in the market.
I have never had a problem with ST, I just wanted to know if its the same with bxa at CT.
Posts: 2329 | From: MD | Registered: Jul 2005
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Ok so what is a L2 please?
