Or is it wrong to think that discount brokers can satisfy these interests.
Is it true that brokers have different execution speeds for placing orders?
I enjoy momentum speculation and trading within a 7 day time frame, I seem to do well on the simulation programs.
I plan to start with $10,000 with $500 plus per month additional capital.
there are so many different reviews when i google this topic.
you need a minimum of 25,000$ to day trade. If you get your series 7 license though, you might be able to go to Bright Trading with 10k (I would call them first though) They give you use of their capital (millions of dollars) but you can seriously get stung with a bad day.
Dont trust the sim programs because on them, you get your orders right away. In real life when you do limit orders, you sometimes dont get in at the price you want. (or get out) Sometimes you place a limit order and you have several thousand shares ahead of you waiting for the same order then the price moves and you dont get filled.
December 11th, 2008 at 12:33 am
you need a minimum of 25,000$ to day trade. If you get your series 7 license though, you might be able to go to Bright Trading with 10k (I would call them first though) They give you use of their capital (millions of dollars) but you can seriously get stung with a bad day.
Dont trust the sim programs because on them, you get your orders right away. In real life when you do limit orders, you sometimes dont get in at the price you want. (or get out) Sometimes you place a limit order and you have several thousand shares ahead of you waiting for the same order then the price moves and you dont get filled.
References :
December 11th, 2008 at 1:12 am
I use mbtrading.com and, although I invest with a longer time frame, they might work good for you. They have very good pricing ($1/trade for 100 shares or less), and the execution is great. I'm not sure about the day trading minimums though, but I think if you buy and hold for at least one day, it's not considered day trading.
Also check out zecco.com, they've got cheap commissions as well.
References :