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Any traders out there - 12/6/2006 3:41:51 PM

NeedToUseYou

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I;m looking to open a self directed trading account. I've been using those play accounts for about a year now, and have familiarized myself with all the basics, and did remarkably well. So, I'm looking to start trading for real. Anyway, there are so many trading companies to select from that it would be impossible to research all of them to see which is the best.

So, if anyone actively day trades, who would you suggest? And who is to be avoided. Or does it even matter that much.

Thanks.

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RE: Any traders out there - 12/6/2006 3:44:34 PM

MasterKalif

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NeedToUseYou, I dont understand....you are looking to trade stuff, trade in the stockmarket, or help with finding trading companies?

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RE: Any traders out there - 12/6/2006 3:45:51 PM

NeedToUseYou

Posts: 2297
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Stock trading, sorry.

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RE: Any traders out there - 12/6/2006 3:48:12 PM

MasterKalif

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ah NeedToUseYou, ok. The only crabby advice I can provide is to check the background of companies on yahoo, check how they perform over a week or so, can write down the changes and study them, and pretend you invedted in them and see how you do. My folks did this with great success before the bubble burst way back....and they used Quick and Reilly...hope its of help if any!

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RE: Any traders out there - 12/6/2006 3:54:32 PM

NeedToUseYou

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Yeah, I've done the play stock investment thing for the past year, and I did good enough to think I could make some money actively day trading. I guess I'm just looking for a good broker. You know like ameritrade, shwabb, the ones that process your orders to buy and sell. Currently the only real difference I've seen is the prices they charge, some charge 19.99 per trade, others charge 5.00 dollars a trade. Obviously all things being equal I'd subscribe to the cheapest broker possible. But having no experience with real brokers I don't know if everything is equal. Like execution speed of the trades. I figure someone up here probably has been trading stock for awhile and could point out the best ones.

Thanks.

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RE: Any traders out there - 12/6/2006 4:29:07 PM

happypervert

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From: Scranton, PA
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If I were shopping around, I'd look in a magazine like Forbes, Money or something like that for an article which compares the sosts and features of the different vendors out there. I know I've seen articles like that -- maybe google would find them for ya.

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RE: Any traders out there - 12/6/2006 4:33:45 PM

UtopianRanger

Posts: 3251
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quote:

ORIGINAL: NeedToUseYou

I;m looking to open a self directed trading account. I've been using those play accounts for about a year now, and have familiarized myself with all the basics, and did remarkably well. So, I'm looking to start trading for real. Anyway, there are so many trading companies to select from that it would be impossible to research all of them to see which is the best.

So, if anyone actively day trades, who would you suggest? And who is to be avoided. Or does it even matter that much.

Thanks.

Hi Needs....

I like Etrade but have used Fidelity and Scott in the past. I've had no problems with execution regarding etrade, but have heard horror stories about other sites. The clubs are good by the way {sounds like you know that}....they're just like playing fantasy football but ya make money later on....

Good luck...

- R

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"If you are going to win any battle, you have to do one thing. You have to make the mind run the body. Never let the body tell the mind what to do... the body is never tired if the mind is not tired."

-General George S. Patton

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RE: Any traders out there - 12/6/2006 5:03:40 PM

sub4hire

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I use Ameritrade over the last year they have merged a couple of times.
There are cheaper places out there to trade. Though I've never had an issue with any sort of trade thus far.

I believe the newest name is TD Ameritrade.

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RE: Any traders out there - 12/6/2006 6:14:54 PM

MercilessMarcy

Posts: 80
Joined: 11/12/2006
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I've experienced trouble with Etrade and Ameritrade, mostly because they can take up to 24 hours to actually enact a trade! Customer service is non-existant. I concur Reilly is good. Or at least better. Good luck. OH, check BBB for complaints, it's a real eye-opener. Also google for pending lawsuits for a trading company.

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RE: Any traders out there - 12/6/2006 7:59:19 PM

popeye1250

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From: New Hampshire
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I'm not a "Day Trader" but I use Scottrade and anytime I bought or sold it was done within 1 or 2 minutes from the time I executed my order until I got a confirmation e-mail from them.
And, they only charge $7 per trade.

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RE: Any traders out there - 12/7/2006 1:25:53 AM

UtopianRanger

Posts: 3251
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quote:

ORIGINAL: popeye1250

I'm not a "Day Trader" but I use Scottrade and anytime I bought or sold it was done within 1 or 2 minutes from the time I executed my order until I got a confirmation e-mail from them.
And, they only charge $7 per trade.

Yes... I agree, Scottrade is definitely good. I had browser problems with their site as that was the only reason for not using them.

Marcy : Never once have I had an execution problem with Etrade. What kind of account do you have with them and how long ago did you have the problem?

- R

< Message edited by UtopianRanger -- 12/7/2006 1:30:28 AM >

_____________________________

"If you are going to win any battle, you have to do one thing. You have to make the mind run the body. Never let the body tell the mind what to do... the body is never tired if the mind is not tired."

-General George S. Patton

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