Replies to post #152 on Online Brokerages

[Vitez]

Thank you both for fast reply.

Well I have only 2 questions left:

Why do the Omni Pro charts suck?

Is there any other broker that allows you to daytrade with account below $25k?

I'm asking this since it sound all good but the commission $8/trade is quite high and can eliminate a good r/r (risk/reward) with higher priced stocks even if you have like $7000 account or so. Here's an example with no-margin account:

stock price: $100
risk: $0.3
reward: $0.9
r/r = 1:3, which is very good

with $7000 I'd buy 50 shares at $100 which costs $5000.
risk: 50*0.3 + 16 (commission) = $31
reward: 50*0.9 - 16 = $29
r/r: 1 : 0.94

Experienced traders know that r/r should be at least 1:2

The r/r gets to 1:2 approx if you buy 200 shares but that would cost $20k.
So the only solution is to trade like $20-30 stocks.