brokerage accounts

[Code31]

Is anyone using Noble Trade ?? Any advantages / disadvantages using their services for penny trading ?

Any information is welcome.. thanks!!!

[swenglish]

anybody use IB? http://www.interactivebrokers.com/en/main.php

Quick, rliable, slow, expensive, cheap?

[amank7]

lol. No problem! Glad I could help. GL with it!

[Cajunrich]

Wow..even a Cajun can be taught new tricks! Thanks man! That is awesome....I guess I will have to wait for it to be updated tomorrow when the market opens!

Thanks again!

[amank7]

Sure, not a problem at all. It's like like Scottrade's Market Movers, except it's the High/Low Ticker for Omni. You select the button from the task-bar and then you can 'right click' to go into setup. After going into setup, you'll have a list of options you can select to filter out. I usually click the small cap and OTC BB circles. After, I set the ranges I'd like to see for stocks. Usually I range from 0 to $5. After clicking ok, the High/Low ticker will display all highs and lows for the day (like scottrade's) except, you have now filtered out all the higher priced stocks which clutter up the board. Prices that are highlighted are new 52-week highs. There's also a scanner for highest percentage mover in the Market Minder option. In addition you can set various alerts as well in the settings tab under 'Tools'. Those are just a few other useful tools.

Anymore questions feel free to let me know!

[Cajunrich]

Explain filtering the Marker Movers please...TIA

[amank7]

Agree! The alerts/data feeds/etc are like a night and day difference. What's also nice about Omni is that you can filter out the market movers (unlike scottrade's). Really like that feature. Besides the fact Level II is free as well haha. Have been with 3 brokers and this one is by far the best IMO. (especially if you're under the 25k requirement)

[Cajunrich]

Lance....I have been using Prodigy(penson)....haven't traded in my Scott/Ameritrade since! Love Omni-Pro

[jdmlhht21]

[jdmlhht21]

check out lowtrade ihub. he has their account

[Fishing at Surfside]

Sorry, posted this to the wrong board. Too late to delete.

[Fishing at Surfside]

How does one estimate an approximate PPS on a company given the following:


OS = 105,000,000
estimated annual pretax earnings = $3 million
no idea what the PE should be, but it's a pinksheet company.
float is 45,000,000.

What other info would be needed?

Thanks,
Rich

[Ace of Spades]

How is lowtrades, anyone have experience with them.

http://lowtrades.com/index.php

[Ace of Spades]

I heard CHOICETRADE is awesome for trading penny stocks or any stock actually. It's only $5/trade.

http://www.choicetrade.com/

[eye_ater]

What does anyone think about Fidelity. Seems there commish is high for anything under $1. Anyon care to comment about their experience with them.

[Mr. Ed]

Does,or has anyone used this service?-http://www.otccharts.com/otc/pg301.jsp am just looking for feedback.tia.

[DCschmoeka]

Broker to DD:

AB Watley


http://www.abwatley.com/

Havent looked yet, a friend is using it, and says he is happy.

[cats]

Thx, Susie for the info.

[Susie924]

This is from the www.lowtrades.com website

COMMISSIONS AND FEES - COMMISSIONS

Equities
$5.00 for market orders placed over the Internet.
$5.00 for limit orders placed over the Internet.
$5.00 for short sells placed over the Internet.
$5.00 for stop orders placed over the Internet.
$25.00 for broker-assisted equity transactions.


Additional ECNs and exchanges are available. Rates are $5 for market and limit plus ECN fees. ECN fees are as follows:

AMEX $.005/share**

ARCA $.005/share

ATTN $.005/share

BOS $.003/share

BRUT $.005/share

CHX $.003/share**

TRAC $.01/share

ISLD/INSTINET $.005/share

NYSE $.004/share for market and marketable limits**
$.01/share for limit orders subject to floor broker

OTC CHX $.003/share**

PHLX $.003/share





*SuccessTrade will waive ECN fees for auto routed orders
*plus direct access to market makers at no additional cost
**for Institutional orders please inquire within about specialist pricing


Trailing Stops
$1 additional per order

Real Time Streaming Quotes
No Charge.

Stock Ticker
No Charge.
Logical Orders

$3.00
* Logical Orders cannot be placed on stocks trading below $5.00



Trading Desk
No Charge

Level II Quotes
$20.00 first month.
$40.00 a month each month after.
No set-up fee.

* Includes all exchange fees

Mutual Funds
Load Funds - The sales charge in the purchasing of a load fund is fixed by prospectus.
LowTrades.Com charges no additional fees.
NOTE: There is no charge on the liquidation of a load fund.
No Load Funds - No load funds are charged one flate rate - $25.00 regardless of the size of the transaction.
NOTE: Broker-assisted no load fund transactions are charged $25.00.



Additional Notes on Fees:

Our commission is a flat rate $5 on all transactions (market, limit, stop, stop-limit). Other fees to consider are the NASD Trading Activity Fee and the SEC fee. These are both charges levied by the NASD and the SEC on some sell-side transactions. The TAF fee is $.0001 per share capped at $10 per execution, and the SEC fee is $.0000468 per dollar of the principal.

Block Trading Fees applies to all orders for OTC-BB and Pink Sheet stocks of 100,000 shares or more. This fee is $.0005 per share or 1% of the principal, whichever is lower.

[cats]

I do also, they will not take a market order which I no way in h would I do amarket order. they have been good at filling and many times they fill me at less than what I bid. but they charge $12 plus .005% of the total.price. so 1Mil shares at .001 would cost me $1000 + $12 + $5 = $1017

[Susie924]

I always do limit orders on the pennies. I'm not even sure if they would let me do a market order.
The commission has always been $5.00

[cats]

Susie, on LowTrades is your $5 commission for a limit order or market order? I use Scottrade and limit orders are $12 and market orders are $7, and all penny stocks must go in as a limit order.

[wishfultdr]

Presently there is no minimum to open a non marginable account at lowtrade.

[npoz]

The commissions did add up mucho $$

I'm not a very active trader as my money limits me, but with direct access I'd have easily over $400 in commissions a day. I'll check out freetrade, low commissions is always good :) I was thinking of maybe opening another account with nobletrading later in the summer for some daytrading testing on +$5.0 stocks, but we'll see. What I need is the next wnmi, hehe.

npoz

[Omnitrader]

the reason why i said that because #1 your commsions are bigger so you need to trade size to off set so the commsions so it does not become a factor. other than that freetrade is great because commsions are not factor you have more stratgies you can use when commsions are not affecting the trade. you get more creative.


flash fills on stocks like gzfx & wnmi all day long.

[fusionz]

Yes, both these stocks were OTC BB stocks where I was selling below the bid and these are the stocks where it's most important to get out fast. For higher-priced stocks I don't care as much, as I don't usually lose hundreds. But even then if you have a large position, you still could lose hundreds in slippage.

[Sportsjunkie]

just for the record,i basically am very happy
with the mytrack system and people who know me know
i push for perfection..over the years i have gotten
complacent in checking out other online brokerage systems
and their platforms..
if i was not really happy with mytrack i would not be able
to make over 1000 trades a month..
but i still thrive to compete and with that still must make sure
i get the best platform available to meet my needs,that is what i am still searching for...
mytrack has promised CRWN,JEFF as other routing options to a service that on the otc allows NITE,SCHB routing currently plus every option for the bigger boards..
the trading is done direct from a java based program that you never have to leave your level 2 screen..

i know my search is very narrow to any possibilities for anyone better,but does not mean i can not continue my search..

but,the possibility for people who do not have level 2 capabilities via their trading platform to find something better is here..
ameritrade,suretrade,etrade been there done that and mytrack blows them away...


ways to take away the blame on your broker...
decrease the greed,i have said time and time again to sell
percentage of your stock on the way up,you will never be
sitting on shares on a stock moving up..
sell a percentage before the close,the hardest time to sell a stock is the first 10 minutes of the following morning..
the saying is high risk and high reward,well you get what you sow if you hold everything for the following gap..
reasons to hold everything overnight is based on fear that you will not find another moving stock...

the minute your stock goes red or down,you and 100 other orders are hitting the market and chances are you will be the one selling on the bottom before the turn...

selling 30 percent or so on the way up guaranttee profits,lets you hold through headfakes and basically puts you in a better frame of mind to watch the whole market and not get tunnel vision...

just maybe you did not buy the stock that was going to double today ,but you failed to see outside the binocular vision and
missed it....

[excel]

Fuzionz. I agree. Fills sometimes can be very frustrating. That stock you tried too sell at 1.70, was that a nasdaq stock or OTC nasdaq stock? Was that at the bid?
If I'm selling at the bid which I try not to except in situations where it calls for it I use to call ameritrade. Their answer would be it's an otc stock they can do anything they want including letting it sit there. So I ask them to at least call the floor and reflect the trade. This has always worked for me. Now in fast moving stocks like wnmi was that's surely when that direct access like mytrack comes in handy. You get stuck in line with ameritrade/freetrade. I'm hoping to maybe find something else but we'll see.

[npoz]

Fusionz: I went direct access for a bit

My broker was NobleTrading. I was able to do it with 8k. Though the software was $150 a month to rent. Fills were usually very good, I could only use gnet for otc stocks though. The commission was never more than $25. Island was great and cheap for nasdaqs, before they got bought out or whatever. I paid 11$ commission per trade all together. However I stopped using it and now use lowtrades. The amount of money I trade is not worth using direct access to me. I stopped using it around september of last year, I am not sure if there is a minmum cash requirement to use it now, as Omni noted there seems to be now.

npoz

[Omnitrader]

just remember to go direct acess you must have 25k to trade. I would say u need at least 30 k. if you dont your stuck.

[fusionz]

I have had Freetrade for about 3 months but I'm really thinking about switching to direct access. Sure Freetrade may have low commissions but the fills are just getting worse. I tried to sell a stock at 1.70 but wouldn't fill until 1.51. Tried to sell a stock at .025 but wouldn't fill till .021. Direct access might cost a few bucks more in commission but at least you're not losing hundreds of dollars in slippage. Anyone else switch from web-based to direct-access and can comment on their improvements in execution?

[DCschmoeka]

Interesting board, Lance. I am still with etrade cause there is etrade germany, and they provide me with the possibility of free overnight transatlantic wires. Thats pretty much the only reason I am still with them.

etrade will always be my "bridge account", but looking for a new one, preferably Direct access.

[Susie924]

I didn't know about Free Trade when I opened the Low Trade account although even if I did, I probably wouldn't have opened one with Free Trade. Like I said, I am small potatoes and $5,000 was a bit steep for me. I think I opened the Low Trade account with $500 or $600.

[excel]

Susie. That commission cost is an issue thats for sure.
I know with Freetrade I feel much better not losing even more on a bad trade.

[Susie924]

I have used them for about 4 months now. I don't "trade" for a living......good thing too or I would starve!
They are not super speedy but then again I also have an Ameritrade account and even when I put in sell orders below the bid I don't get filled!
What I like about LowTrades is that if I have a stock that is falling I will sell it quicker and cut my losses because the commissions are low.......$5.00

With Harris Direct ($20.00) and Ameritrade and My Track ($12.00 or $13.00) I felt as soon as I bought something I was already in the hole for $25.00 to $40.00 because of the buy commission and the sell commission. I am a small potatoes trader so every little bit counts.

I do find that not only am I saving in commissions but I am not holding onto garbage for as long as I once did.

I don't think I ever answered your question......sorry!

[excel]

Susie. How do you rate your fills there?
With Ameritrade/Freetrade I don't normally have anymore problems than anyone else I believe except for when it comes to fast moving sub stocks.
That can be very frustrating.

When a stock has the volume moving like WNMI did today I think those of us without straight routing like mytrack has will run into a problem now and then. I've had other times though when I've got a fill right at the last moment and others haven't. I'm hoping it all evens out.
That being said, we all like to trade thinking we have an edge over the others.

[Susie924]

I opened an account with Lowtrades.com

I don't trade nearly as much as you do Lance but so far they seem ok.

[purlieu]

cybertrader apparently not very penny-friendly - check out the footnotes to their equity fees:

Applicable Fees for Large Orders: Completed or partial executions of the same stock in the same direction using the CyberTrader Pro or CyberX2 platform within a two minute period in excess of 5000 share are subject to a $0.005 per share fee. Completed or partial executions of the same stock in the same direction using the CyberTrader.com web trading platform in excess of 5000 shares are subject to a $0.005 per share fee.

Wow - this would kill your account fast trading anything below 10 cents!

[purlieu]

some dirt on cybertraders... follow link below...

http://www.investorshub.com/boards/read_msg.asp?message_id=2699558

[purlieu]

Thank you, Lance - that was very helpgul. Have a great weekend

[Sportsjunkie]

in simple terms,quotetracker has several alliances
with a lot of popular online brokerage firms that let you use
quotetrackers software and upon downloading you can match it up
with your online brokerage firm that you can use quotetrackers level 2 software and trade directly through it to your online brokerages account...

[purlieu]

Thanks - I will

[Omnitrader]

www.quotetracker.com check it out

[purlieu]

Omni - could you please explain "run it through quotetracker"? Thanks

[Sportsjunkie]

thank you,will look into it...

[Sportsjunkie]

awesome point...very interesting observation....

[ahumblefool]

Although I do not trade the number of shares lance and omni do, I still find FreeTrade a great trading system. I have had no problems with them since the two months I signed on. My commissions are so low that I can trade out earlier and earn money.

I was with Ameritrade for one year, switched out because of the commission fees. I really think you would like this lance if you can give it a chance.

Personally, if I had the money to do it, I would probably have two or three accounts for four to six months to really see which one was the best, until that time, go FreeTrade.

[billy_at_the_beach]

I have one better than that, I've been filled on orders that do not show up on L2 and its happened more than once; I'm talking on very slow moving stocks, where I not missing my buy on the L2 by accident. Games MM's play...

[LexTrader]

Also has anyone experienced this. You put in an order for other than the 5/10/15k increments, and on L2 T & S you see the share amount you bought or sold, however when you check to see if it has been filled, your order remains open. Can the MM somehow hold your order, yet show it as a transaction? So if you have an order to buy ABCD @ .45 8000sh the above takes place and and it shows up on T & S, MMs see orders taking the PPS higher and don't give you the shares, but sell them at a higher price and they fill you on the way back down. I think this happens all too often, but maybe I'm delusional! lol

GW

[LexTrader]

FWIW (Ameritrade/ broker) I have experienced problems with fills on both the buy side and the sell side recently, especially in the past 2-3 months, and has cost me mucho $$. I do not know exactly why it has gotten so bad, but I have many times tried to buy at the offer with 2-4 mm on L2 at the buy