Replies to post #22105 on Zeev's Turnips Patch-No Politics (ZEEV)

[Zeev Hed]

Find a broker that gives you a flat yearly rate on your assets under management, that can cost you about 1.5% of assets under management (minimum probably in the $150,000). If you cannot do that, stick to trades where you expect at least a 15% swing in a short time, or wait for unique opportunities (not now) where you might get a very good swing, like we had after July 23rd. Just before responding to you, got out of the Q here sensing a swoon down into lunch, some profits some losses. BRCD at $13.39 (-$.01), BRCM at $15.98 (-$.05), QLGC at $33 ($.25), ELX at $16.10 ($.14) and MERQ at $24.30 ($.35). IDPH were also dropped each for a dime loss.

Zeev

[horsegirl48]

I have a great broker that I use, charges a flat .9% on my holdings no matter what I do, options, stocks, puts, shorts etc.

[Newly2b]

Move to a cheaper broker! Interactive Brokers charges $.01 per share traded, which makes taking many small profits off daytrades still lucrative.
Newly

[brightness]

OTOT.
For Datek ($10 per trade) and CyberTrader ($15 per trade), I trade in 500-2000 share blocks. For really speculative issues that have very little volume that Zeev sometimes brings to our attention, such as CCRD, I use InteractiveBrokers, which gives you $0.01 per share, $1 per trade minimum. IB is also very good for options trading ($1 per contract, no ticket charge). I use multiple brokers as a habit from the days when online brokers were frequently overwhelmed by user load; I had Etrade and Ameritrade going down on me on the same day! Luckily I also had Datek and Cyber. I took a cursory look into Merill Lynch annual fee-based account, but the literature seemed to indicate that they do not cater to day traders, and I was not comfortable with keeping more than $100k with any particular broker, even if the chance of ML going under is rather low.

I have no relation to any of those brokerages besides being a customer.