Hi Fellow QBIDERS . . . need help/info please.
Hi all –
Newbie weekend question for those who use Ameritrade or Scotttrade, or similar.
I presently have my portfolio with a large institutional firm. A few months ago when I placed an order for 1 Million shares of QBID my broker stated that their firm did not handle stocks such as QBID (then selling for .0019). After a little persuasion from me, he looked into it and eventually bought the shares . . . but at a hefty brokerage fee to me L
So, I am thinking I would like to open an account with Ameritrade or Etrade or Scotttrade so that I can play around with this stock and a few other of the pennies.
I want to be able to buy and sell quickly, possibly numerous times a day if it is possible. Never having traded online I have a few questions for you experienced etraders.
With my present broker, I can call him and say (in my best Dr. Evil voice) “Joe . . . buy ONE MILLION shares of qbid at .0002) and he will. I can also tell him to sell it at whatever price, and that magically happens too (less fees).
On, say, an Ameritrade account, with a stock such as QBID or CMKX, can I put an order in to buy at a specific price? And can I put a sell order in to sell at a specific price?
I’m thinking that with a stock like CMKX, what with it’s 33% fluctuation each day, sometimes repeatedly throughout the day, it’s a no-brainer to buy at .0002 and sell at .0003 numerous times throughout the week, making 33% on my money each time. This would only work however if I could specify the buy and sell prices and if those trades happened AT THOSE PRICES.
Can you do this on one of the online brokerage companies with these types of stock?
If so, what does it usually cost per trade?
And . . . is there any special type of account I would need to sign up for to trade stocks such as QBID and CMKX in the manner described?
Thanx ahead of time for any help and info someone can offer.
K
AI
