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I'm going to try etrade, I've used them in the past, but not for high volume purchasing, I liked them before. Previous poster said there weren't any volume restrictions.
I'm currently using Fidelity right now since it's where my 401k is setup through my work with an individual account separate on there. I've had a thinkorswim platform setup for a while now and looking to do all my penny trading with them. Was looking for pros and cons within trading pennies to as many online brokers I haven't used before. Fidelity doesn't allow large share buys or the use of stop loss orders for pennies. Any thoughts or comments would be appreciated.
I have never been turned down for trading an order over 10,000 shares. I use Etrade. You can buy or sell as many as you want - no limit. I was an Ameritrade customer too at one time and they never limited how many shares I could purchase.
Scottrade...is only a 500 dollar buy-in minimum, so it's easy to try it out to see if you like it. Trades are $7.00+, and the only other charge that i've encountered is a $20. dollar reorganization fee if your stock gets caught in a RS.
Nope, just looking to trade high volumes with cash accounts, thanks!
Scottrade......but, are you buying on margin?
I trade with fidelity, they limit my buy orders to 10,000 shares. Is their a major broker that doesn't have this restriction? Thanks!
Try these links for your technical issue (I have the same issue still):
http://investorshub.advfn.com/IH-ADVFN-Streamer-&-Level-II-Q&A-Board-8689/
http://investorshub.advfn.com/The-Question-and-Answer-Board-504/
This board your posting on states NO iHub questions in the board name hehe.
Looking for a resolution to why my mail box says server error every time I try and open it. It's been like this for 48 hrs. If I reinstall the Ihub app will I lose all my saved people and boards?
Got it, Thank you.
I am not a TA person, but read this:
Support and resistance?
Contrary to popular belief, stocks do not find support or run into resistance on moving averages. Many times you will hear traders say, "Hey, look at this stock! It bounced off of the 50 day moving average!"
Wrong!
Why would a stock suddenly bounce off of a line that some trader put on a stock chart? It wouldn't. A stock will only bounce (if you want to call it that) off of significant price levels that occurred in the past - not a line on a chart.
Stocks will reverse (up or down) at price levels that are in close proximity to popular moving averages but they do not reverse at the line itself.
So, suppose you are looking at a chart and you see the stock pulling back to, let's say, the 200 period moving average. Look at the price levels on the chart that proved to be significant support or resistance areas in the past.
Those are the areas where the stock will likely reverse.
http://www.swing-trade-stocks.com/moving-averages.html
What is usually the outcome when a (200) M.A. rises to a support level.(Can this be a good thing)
no problem
Cool thanks again.
You know what? It happens to me all the time. But I trade a lot and I don't use AON. I'd rather get a partial than risk no fill using an AON.
Thank you for the prompt reply!!
That's too bad. I have been clubbed like a baby seal already. Oh well one more knot on my head won't hurt.
They will charge you a new fee if you leave the order there after today and it fills on a subsequent day. What you could do is just cancel your order after today and maybe put a new one at a different price tomorrow. That's up to you.
Tdameritrade
who's your broker?
First time it's happened to me. I think I'm gonna get screwed out of a commission today if your right.
If the rest of it fills the same day you won't be charged two commissions, but if by the eod it doesn't fill and you leave the order there and it fills the next day, you will be charged an extra commission. I have heard of some rare brokers who don't charge an extra commission if it is broken into different days, but I have never used one that does that.
If you have a limit order to sell and only a partial bit of it is sold what happens? Do I get charged two commissions?
Great article . Thank you for posting.
http://shockertrades.blogspot.com/2011/05/market-maker-speaks-out-ways-of-market.html
you can chose to believe all of it, some of it, or none of it
Under what circumstances would mm's let a stock (penny) run??
Years ago there was never a problem transferring penny stocks. I did it multiple times between brokers. Then when all the non-dtc eligibility nonsense erupted, the brokers didn't want to have to deal with equities that weren't purchased through them. I recently shut down an account with choice trade. I could not transfer any of the pennies from that account to etrade. I was able to negotiate a deal with etrade where they agreed to take one penny stock I owned because I had initially purchased it through them and later transferred it to choice. That was the only exception.
Yes, they were within Schwab. I see you've been here since 2000 so I certainly respect your lengthy experience. Gave you a follow mark and, Cheers!
I've had friends and family set up accounts with Schwab and easily transferred penny stocks from one acct to another.
Within Schwab, right? That's different. If you buy the equities from the same broker I don't think it is a problem. It is when you buy a penny stock from one broker and try to transfer it to another.
Not sure if this helps, but for tax and other financial reasons, I've had friends and family set up accounts with Schwab and easily transferred penny stocks from one acct to another. Although I set up the passcodes myself in order to have access for trading purposes, they did have to give their consent, sometimes written, for any stocks or funds to be transferred out of their accts. Cheers!
Good luck. Nowadays most brokers don't allow you to transfer penny stocks. Being that he has actual certificates might help. There is one broker that supposedly accepts transfers - maybe interactive brokerage - but don't quote me. Go here and ask:
http://investorshub.advfn.com/Best-OTC-Brokers-BROKER-15250/
A buddy has about i/2 million dollars in a QB reporting penny stock.
They're PP Certs and wants to get them transfered into a tradable
broker account....any suggestions?
cintrix, thank you.
Thanks Cintrix!
As I said I'm new to taxable accounts. Yes I was just confused about the whole Capital gain situation. But I understand it better now. Your response was very helpful!
Thanks again!
jackson
i have no opinion on that
If I sell a stock for a profit before the end of the year for tax purposes. Does the wash rule still apply? Or can I buy it back at any time?
For a profit? Not sure what you are asking. A wash sale means you can't immediately use a loss from the sale of a stock if you bought it either 30 days before or 30 days after the sale (comes to a 61 day period). Did you previously take a loss on this stock and buy it again within the 61 day period?
Remember with a wash sale, you still actually get to take the loss but it is deferred. If you were to buy a stock 30 days prior or 30 after you sold it for a loss, that loss wouldn't be allowed, but it would be added to the cost basis of your new purchase. So theoretically you still get the tax write off - you just don't get it until you sell it again. And if you make a wash sale in December, and buy back the stock and sell it say in January or Feb, you lose the write off for the previous tax year and would use it for the new year.
If you didn't have a typo in your original question and you are asking if a wash sale affects a capital gain the answer is NO. A wash sale is about taking a loss. You can buy 20 stocks for profit and buy them right back and sell them again. You will of course, have to pay capital gains taxes on that profit.
Wash sales are not too complicated anymore. This is because starting in 2011 when the new rule that brokers have to supply cost basis on any new purchases, they now calculate wash sales.
Hope I've got the right board here. I've always traded in IRA accounts before, but have a taxable account too.
If I sell a stock for a profit before the end of the year for tax purposes. Does the wash rule still apply? Or can I buy it back at any time?
TIA!
jackson
cintrix, okay. Though would you consider it the standard?
cintrix, Investopedia I have found to produce wrong information as I become more knowledgeable about investing. Though I wanted to know what index the global market tends to follow and which one is the benchmark. I found on Investopedia that it is the S&P 500. Is this correct? Just want to be sure. When I was learning growth investing a few weeks ago I used Investopedia and the web page said something along the lines of, the higher the P/E ratio the better for growth investing. Thankfully, someone here caught on and corrected me. It caused quite a bit of a headache.
Where can I look for Q(bankruptcy) stocks ??
Thanks. I'll try that. I was just curious
I don't use the service so if it is Ihub I would ask them.
It's not the indicator it's a symbol directly below the indicator. It only shows up on some stocks.
that means the the last print is either a downtick or an uptick, or that it is either down or up for the day - i don't use this platform but that is what arrow indicators are
On the streamer below the the up or down arrow indicator on some stocks there is a red and blue diamond. It's small and to the lower left of the stick symbol
From where? What feed are you using?
Doesn't always. I have seen penny stocks that have no bid and an ask of .0001 for a very long time until they either delist or reverse split. Funny you bring this up because I am looking for tax losses and found a stock in my account from years ago that had no bid and an ask of .0001. I wanted to write it off as "worthless" so I called Etrade. They told me that generally if a stock still has an ask they don't allow you to write it off as worthless but the girl said she would put the request in for me. Today I got a confirmation that they removed it as worthless. It all depends on the broker. I had another broker who would write off anything as worthless as long as I authorized them to do it, no matter what it was trading at.
When a penny stock pps is at .0001, bid is 0, ask is .0001 and 0 volume how long before the pps drops to 0
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