Investor Help (NO Ihub questions)

[ottoman]

It's still $2000 for a "regular" margin account. Etrade just has to screw everything up.

https://us.etrade.com/trade/margin-trading

still states $2000 at the bottom of page

[cintrix]

Yeah what the heck with this 25k minimum? Is that an actual new rule or is it a new rule with Etrade. Why should they put a 25k limit on margin if you aren't daytrading? And what kind of bs is it where they pick and choose who they will lift restrictions from?

[ottoman]

Ugh, what a nightmare. I hope it's sorted out for you soon. Yeah, I received a message last week from Etrade about an account restriction for my margin account. I had daytrade status on it, but haven't had over $25k in it for years.....I moved over to Fidelity, Schwab etc.

I called in, and customer service dude seemed to know what he was doing. (lol) Decided to keep it a margin account, but just remove the daytrader status. It took 2 days for the message warnings to go away, so I assume it's ok now

Sometimes I play these crazy fractional share round up stocks. That pay a special dividend (extra shares) as a result of a reverse split. Recently, there was one that did a "reverse split followed immediately by a forward split" and you'll get (for instance) 200 shares afterward when you only bought 1 share initially.

Etrade is the only broker to charge two separate $38 mandatory corporate-action (reorganization) fees for each of the reverse and forward splits. I've tried to call in and have a gratuity removal of fees, since no one else charges it twice. Nope, they might (just maybe) remove one, but I've got multiple accounts with them, multiple $76 fees.

When I had much more money with them, all accounts would have the $38 reorg fees reimbursed, but now, they couldn't care less.

At least TD Ameritrade (which has a $38 reorg fee) will reimburse if you call in. I think it's very unfair that those TD Ameritrade customers (I'm one of them) who have not yet been transitioned over to Schwab, are still stuck with the $38 reorg fee, where Schwab does not have it. Many TD Am customers have already been transitioned over to Schwab, but I have to wait until November.

I was told by a previous customer service rep at TD Am, that it "wouldn't be fair" to charge me for the reorg fee, so I should call in and ask for them to be reimbursed. I have a few times, and had the fees reimbursed.

But, Last time I called in to get my fees reimbursed, I was told it's the last time. I called in and asked specifically for a customer service woman who was very happy to reimburse all fees, last guy was a jerk, and had to check with management and stir up the pot lol.

I may still try again, and ask for someone else.

BTW, I always record all my phone conversations, and save them so I can refer back to the person, place or thing the conversation is about.

[cintrix]

Eturd is the pits of the world. This account that I have had for years fell under 25k over the past few months. I had taken most of the money out of it when I changed over to Schwab. As a result they flagged the account and sent me emails stating that I could no longer day trade in the account or they would restrict it. Fair enough. I made it a point not to daytrade out of this account anymore while it was under 25k and would buy something eod and then get rid of it the next day. Did my day-trading exclusively with Schwab. Worked fine.
Until it didn't!
On 7/29 I went to purchase something and I got the "your account has been restricted to placing closing orders only." Looked at all my trades to make sure I didn't accidentally day trade something which I didn't. Called them up and was informed that there are new rules now that even if you don't day trade and you have a margin account you have to keep it above 25k. Never heard of this new rule.
So I told them to switch the account to a cash account since I wasn't day trading it anymore. They did it and the next day everything was fixed and I was able to purchase new positions again.
Until I wasn't!
Morgan Stanley did their account transition from the old Etrade account numbers this past weekend. Somehow when they transferred this account it stayed a cash account but with a minimum equity call against it as if it were still margin. So they once again put the account back on restriction where I can't purchase even though it is officially a cash account.
Called yesterday and the broker assured me that it had to do with the account transition and they are fixing it and I should be good to go in 30 minutes. Well it didn't happen. Waited until this morning to see if the restriction was lifted and it is still there.
Called them today and they tell me that the rep from yesterday was wrong and it could take a few days because the margin department is so swamped and over loaded with problems they need to fix. I asked for some type of credit for the inconvenience and I was refused.
Only good thing I could report from Eturd was their phone response is getting better - no waiting for an hour anymore.

[cintrix]

Mine has been ok all morning. No problems here.

[ottoman]

Streetsmart Edge is back up and running.

[ottoman]

Current interest rates paid on brokerage cash sweep funds. "Average 7-day yield"

The highest I personally have, and know of, is Vanguard which pays 5.28%
Number 2 is T Rowe price which is 5.07%
Number 3 is Fidelity which is 4.97%
I don't count Schwab, as it's not a "sweep", (proceeds from stock sales do not automatically sweep into the high interest rate fund)

I don't know about Etrade,

Vanguard


T Rowe Price


Fidelity

[ottoman]

Schwab's StreetSmart Edge is DOWN! ARgh! due to a technical issue. Try plugging it back in!!!!

I need to have a backup streaming watchlist at the ready, in case something like this happens. I guess Think or Swim, or maybe even (gasp) Etrade

[Mr. Al]

Thank you. I will do some research on these stocks

[cintrix]

This is my watchlist for AI tickers: AI, AIEQ, AMD, AMZN, ASML, AVGO, BBAI, DT, FVRR, GFAI, GOOGL, IBM, INTC, ISRG, JG, MRVL, MU, NVDA, PATH PLTR, RELX, SOUN, SSTK, TSM, WDAY, WETG, ZM

Here is another one from a site:

https://www.barchart.com/investing-ideas/ai-stocks?orderBy=percentChangeYtd&orderDir=desc

[Mr. Al]

Didn't know that. Thanks. Just wanted a list of AI stocks to do some research.

[cintrix]

Read the iBox - no stock picks on this board. If you would like a list of AI tickers I can post that for you but we do not allow stock picks.

[Mr. Al]

What would be good AI stocks to invest in?

[cintrix]

Yep! Exactly! There are still people who don't use smart phones so I guess they still have to offer an alternative.

[ottoman]

oh ok got it. So it's a physical device they send you in the mail. Ah. So that answers the question about what people do who don't have smart phones.

That reminds me of a credit card sized pin number generator I received from Merrill Lynch years ago (must be 12 years now at least). It was the size of a credit card, and had a little digital display that showed a different pin number every time you pressed a little button. Needed it to confirm buys and sells I think. (its been so long).

Thanks Pat. I hope your stock trading is going well, as well as life in general!!

[cintrix]

Got to this page: https://us.etrade.com/security-center/securityid#tab_1
Sign into your account and order the hardware token. You see that pic of that black token? It's the size of a key lengthwise. It's free. Nothing to download. You get that gadget and after you put your user name and password in and it asks for a code, you press the button on that token and enter the code that comes up. This device is actually old school. It's been around for years - before cell phones were the big thing. I've been using it for years. They send you a new one every few years.

[ottoman]

Instead of using that route, I use the Symantic key code gadget. Aren't they offering that anymore?

Well the Norton VIP Authenticator app for mobile devices is Symantec. So that's what Etrade offers as far as 2 factor security for mobil app. That's what I was told to download and install on my phone in order to login. Yes, I guess they also offer some sort of hardware token (whatever that is). Which is what you have. I assume it's something you install on your computer? I just hate installing extra stuff that I don't necessarily trust.

I never have any issues with Schwab logging in. Unless I clear my cookies for the login website, then I need to receive a phone call or text etc.

Not sure why all of a sudden you couldn't sign in and it was a fiasco. Has it been a long time since you logged in?

Yes. I rarely use Etrade now. I think I was getting messages that they will have 2 factor authentication for a while, but I ignored it because I didn't want to opt in. I figured it was something they will offer, but didn't realize it would be mandatory. I don't know why the first few customer service people didn't know what the issue was. The whole signed letter, and photo of my driver's license was a joke, and that went unanswered without the problem being solved.

So It's somewhat my fault for not reading and keeping up with every detail of Etrade's new security policies.

[cintrix]

Wait, not following. You couldn't log into Etrade because they wanted a code? Don't they give you that as an option for additional security? I don't like their authentication code procedure because they require that you download a third party app. Why do they do that? Schwab just texts me the code every morning directly to my cell the same way most banks do. Instead of using that route, I use the Symantic key code gadget. Aren't they offering that anymore?
https://us.etrade.com/security-center/securityid#tab_1
called the Hardware Token

Not sure why all of a sudden you couldn't sign in and it was a fiasco. Has it been a long time since you logged in? Etrade has been a total disaster since Morgan Stanley took it over. And this weekend they are changing it up with all new account numbers - they are shutting it down the entire weekend to make the transition. Hope it won't be a disaster.
Might be a good idea to print out account info before they do this.

[ottoman]

hmm, I don't think I received that one, but it's possible, because I usually just delete broker solicitations immediately lol.

Apparently, I have to wait until November for my TD Ameritrade accounts to be absorbed into Schwab, but many customers' accounts have already gone through the process. So they are doing it piecemeal

On another note, Etrade was a fiasco recently. I was unable to log in to my accounts. (well, I could if I tried 25 times or so).

I called in, and got the run around from "kids" in customer service ( I think working from home....probably with a bowl of Captain Crunch while watching cartoons lol). The first 2 or 3 people did not know what they were talking about. I was told I had to verify my identity to log into my accounts. So I had to send in a letter, along with my driver's license photo. Which I did. I raised heck about it, knowing it was BS, but I did it. And naturally, nothing changed.

Eventually (about the 3rd time or so I called to complain) I was accurately told, that I need to download and install the Norton VIP authentication app on my phone, and use the auto-generated PIN number to log in every time.

I'm old school, and don't like being forced to use authentication apps to log in. What if I don't have a smartphone? Or my phone dies on me, or I can't find it? lol

I think an email verification, or automated phone call would work fine for 2-step verification. I just don't like being forced to download their app, and keep in on my phone all the time.

But the funny thing is, I was able to log in, if I kept trying and trying. Eventually after about 20-30 times I would get in, then I would just put the webpage on "auto-reload" so I would not get logged out lol. So much for security.

Well, I hope you will find some use from Think or Swim. I occasionally use it just for screening stocks that are tanking. There are SO many bells and whistles that it's overwhelming to me. But for avid traders, I hear it's excellent.

[cintrix]

Did you get this email from Schwab? We're upping our trading game. thinkorswim is coming to Schwab.

Looking forward to see if I like Sink or Swim better than Eturd Pro! lol

[ValueCumulation]

Understanding the surprising facts behind every investment strategy

I am trying to understand how people evaluate stocks. Please share your thoughts in a few sentences as it will help me a lot.

1.) Can you tell me about a time when you had difficulty finding the financial information you needed?

2.) How did you solve that problem?

3.) How time-consuming or difficult was it to get the information you needed?

Thanks in Advance…!

[Latoria]

Yes, on such platforms it is essential to make your own decisions and base on your knowledge. Although you may find good advice, your should be responsible for your actions.

[amymailey]

Thanks for sharing useful information.

[ottoman]

happy to help! hope your trading is fruitful lately, and always

[cintrix]

Thanks for posting that!!

[ottoman]

Reverse Stock Splits and Increases in Authorized Shares Will Become Easier under Delaware Law

On July 17, 2023, the Governor of the state of Delaware signed Senate Bill 1141 amending the General Corporation Law of the State of Delaware (DGCL), which will become effective on August 1, 2023.

https://www.jdsupra.com/legalnews/reverse-stock-splits-and-increases-in-8537623/

[Soog]

Th e I use this trying y we

[BullNBear52]

I am going to do some trading next week with Fidelity. I'll post what happens.

[littlejohn]

If you aren't on your broker site...

barcharts.com has detailed options

info if you click on 'option prices'

on any quote symbol page...

https://www.barchart.com/etfs-funds/quotes/QQQ/options?expiration=2023-06-30-w

You can tab it up to see cost to

bet on 5, 20 or ?50 times out of money...

less ads to cloud reviews than a good

site like Yahoo Finance...

So we watch...LJ

[littlejohn]

'none'...

[Toofuzzy]

It is sort of like selling a put. The cash is committed.

Fidelity does the reverse and it drives me nuts. I do a buy or sell and my cash position doesn't change till it clears. I have to look at my " balances " and I find that view confusing compared to if my cash in my portfolio view updated in real time.

Toofuzzy

[gulshan212]

Hello, this is Gulshan Negi
Buying cryptocurrencies involves choosing a reputable exchange, signing up and verifying your account, depositing funds, selecting the cryptocurrency you want to buy, placing an order, and executing the trade. It's crucial to prioritize security by enabling two-factor authentication and considering transferring your purchased cryptocurrencies to a personal wallet. Additionally, conducting in-depth research and comprehending the risks associated with cryptocurrencies are essential. Always make prudent investments within your means.
I hope you get an idea.
Thanks

[cintrix]

Yes and no to some of your points.

Regarding who accepts penny stock transfers...
This question has come up on this board many times over the years. I don't know of one. Interactive Brokers supposedly used to take them. I don't know if they do anymore.


I found Schwab to be stuck in the 1970's!
Well I am not a fan of their platform, but stuck in the 70's? Online trading didn't even come about into the 90's and when it did there was no point and click, no charts, orders were done in terminal. So that is a gross exaggeration.
I like Etrade's Pro over StreetSmart any day, but Schwab's customer service is way better. They answer the phone and reply to online inquires.

There is no way to do a search for high volume tickers...they don't have a search to find high volume tickers!
In StreetSmart go to Launch Tools - choose Screener Plus - go to the bottom of the list and choose Top Volume Gainers

Wait for ThinkorSwim (SinkorSwim lol) - it will be available by eoy.

[Chartmaster]

Anyone know a broker who accepts OTC penny stock transfers?
I Opened a Schwab account to see where my TDA account will be forced over to in order to get a feel for the Schwab platform and I found Schwab to be stuck in the 1970's!
1. No realtime streaming quotes, you have to click refresh to get a current quote on the Schwab standard platform.
2. Schwab is unusable for OTC penny stock trades because there is a 999,999 share trade limitation...they told me I can always call to place a trade but it will be at the broker's discretion if the $25 phone trade fee will apply or not!
3. Schwab is so far behind the times, There is no way to do a search for high volume tickers...they don't have a search to find high volume tickers!
4. The charting on the Schwab standard platform will not allow me to place a 100 period Moving Average on the charts
5. You can't place an OCO order for 2 different tickers, Schwab doesn't allow this type of order.
6. The charting on Streetsmartedge won't allow a 5 minute bar chart, it defaults to a line or mountain chart for the 5 min period I use for day trading

Conclusion: Charles Schwab is an outdated Grandfather's investor platform, lots and lots of negative reviews cuz they don't care about their customers at all and are forcing TDA accounts over to Schwab and they will be scraping the TDA platform like the Evil machines in the movie Avatar...they advertise they will be sure to provide the tools needed to secure your financial future but it's all BS!!! They have a useless platform for real traders and don't seem to care....now they are banning me from trading my TDA account with no warning, I found this out when I placed a trade that was rejected, they said it was "A business decision" and they want me to just go away! Now I can't find a broker to transfer my penny stock bags to.

[Mike Fletch]

Great, thanks again!

[cintrix]

This one sends notifications too: https://www.secinfo.com/
You have to go to My Interests section and choose which tickers you want notifications for and then open the filing page and turn on notifications by clicking on the toggle.
The other one I gave you always sent notifications but I was looking at it and even though the home page says "setup free filing alerts" I don't see where they allow you to do it. If you too weren't able to find it there you can use this other one.

[Mike Fletch]

Thank you

[cintrix]

I don't think they do that but I am not sure. https://www.secfilings.com/ lets you setup tickers that you want email alerts on when there is a filing. So if there is a particular filing that will change the status of yield to current you could try that.

[Mike Fletch]

Is there a way to get signed up for automatic notifications from OTC Markets when companies (any and all) have their "yield" signs removed and become "current"?

[ottoman]

I don't trade off the website so it is now a non issue for me.

Excellent! I usually trade on the website, so it will be interesting to see what the difference is between website/streetsmart edge.

[cintrix]

Don't know if you read the rest of the posts regarding this but found out they aren't even implementing it on StreetSmar - t only their website. I don't trade off the website so it is now a non issue for me. I also use margin in most of my accounts with the exception of an ira. But I still like to know what my actual cash balance is trade by trade.

[pistol2]

how do i do a favorite

[ottoman]

Hello, sorry for the late reply, been busy during the day (outside of stock watching).

I haven't seen an email from Schwab, but it's possible I ignored/deleted it.

I suppose it is being implemented so that you can't somehow end up with a negative balance. I thought Schwab already had this (or similar) policy for buying power, (only allowing buying power minus the current open buy-order amount.)

Maybe it's other brokers that already have that policy (I have so many). Many times (at other brokers), I have to cancel an open order, so that I can place another, more important buy order. Of course, those are cash accounts, not margin, and I no longer trade with the 'Pattern Day Trading' status. Not sure if those variables have anything to do with it.

New rules to save you from yourself I guess.

I'll have to see what it looks like when they implement the new policy. Hopefully it won't be confusing


"I use multiple orders daily - sometimes well below the current price just for luck sake. By doing this it will drain my balance."

As long as you have enough buying power to cover all your buy orders (if they were all to fill), then I suppose it shouldn't be an issue?, but of course, I'm not sure exactly how you trade. I hope it's not too disruptive for you.

Why can't brokers ever implement a new policy that greatly increases the convenience of stock trading?


Good luck with your trading, and with life in general!

Shawn (ottoman)

[cintrix]

I just got off the phone with them. Here's the deal. It will only do this on the website. The balances on StreeSmartEdge will remain intact and show the actual number. The reason they implemented this is to help make sure people don't over extend themselves and understand the potential of what could happen if every buy order hit. I think Schwab wants to hold people's hands.

[cintrix]

The buy hasn't settled yet either! Especially when there is no buy! There is no buy or sell - it's just an order. If it executes that's a different story.

[BullNBear52]

Why aren't they upping your balance when you put in sell orders?

Because your sell hasn't settled yet. That would also be an extension of credit to you the seller.

As I said I think they are getting nervous about people day trading and leaving them short at the end of the day with buys and sells.

Present company excluded since I think you know what you're doing.

[cintrix]

Yeah but that's a little different. You swipe the credit card when you are making the purchase. You put in a buy order when trading, you are not buying it until it is executed. Why aren't they upping your balance when you put in sell orders? Same thing! It's hypothetical until it actually happens.

[BullNBear52]

They are getting nervous since it could be seen as an extension of credit even though the trade might never execute.

Banks do the same thing with card transactions and immediately deduct the swipe to show you that it is pending and then show the available balance.

Considering everything going on with banks today they are just tightening the screws.

[cintrix]

You see this? Schwab is changing the way we reflect open orders within balances

We’d like to make you aware of an upcoming change in the way Schwab reflects balances in your account(s). On May 12th, trading and move money balances will reflect open orders.

What this means for you.
Balances will reflect open orders that, if executed, would decrease funds available for trading or cash withdrawal. Please take this into consideration when placing future orders.

What is the purpose of that? If the order is open but not executed why would they be deducting it from your balance? I use multiple orders daily - sometimes well below the current price just for luck sake. By doing this it will drain my balance.

[cintrix]

Just used StreetDumbEdge first time today and added to an already existing position and it updated ok. Fingers crossed but I doubt it is fixed. I've seen it do this randomly. One day it works fine another day it doesn't.