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joeybelle
 

Registered: Dec 2007
Posts: 18

 

12-14-07 12:50 AM

I'm narrowed my choice down to Noble Trading and Cobra Trading for my suitor replacement of CT. The later came as a recommendation from Gretchen, customer service mgr. there at Cybertrader. I've known her for 5 years and respect her recommendations.

BTW, for the 4th day in a row, Charles Schwab screwed up my IDBP. Enough is enough. I am transferring to one of the above mentioned companies this weekend.

Good luck to all!

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visman
 

Registered: Dec 2007
Posts: 3

 

12-14-07 01:15 AM

Hi Joey,

I am also looking at these two. Do you know if Cobra trading allow options day trading? I asked one of their customer service representative and he said they Dont.

Thanks

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Rich C338
 

Registered: Dec 2007
Posts: 33

 

12-14-07 12:22 PM

Thanks to all for your responses. I will spend today and the rest of the weekend looking at brokers. All of your inputs are very helpful.

I hate this. It never fails that you never really see if a new broker is what you want till after you have moved over your assests, spent a few weeks learning their system and trying a few trades.

I want to thank Schwab for turning my life upside down and I consider this time that I am spending, looking for a new broker, a loss of income. Thanks Chuck !!!

PS. Anyone here have any experience with TradeStation.com or E-Trade? E-Trade looks similar to CT but it appears they are near bankruptcy.
Any other comments will be welcomed. I will report back if I find any outstanding brokers. So far I have talked with Ameritrade and TradeStation. Friends using Ameritrade have several issues. They did not offer a demo to look at. TradeStation was much more willing to get our business. They are aware of the Schwab Fiasco and are offering special deals for ex-cybertraders. They downloaded a demo via email which I will checkout this weekend and they signed me up for a live webcast class next Wednesday.

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loufah
 

Registered: Nov 2001
Posts: 930

 

12-14-07 01:13 PM


Quote from visman:


4) I was told that I cannot daytrade options.

That's odd. Did they say why? I've been daytrading options with SSPro for 4 years.

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visman
 

Registered: Dec 2007
Posts: 3

 

12-14-07 02:04 PM

Regarding options daytrading - the reason they gave is they treat options trading as cash. If a call is bought in a day, that cash is tied up - even if it is sold, the cash is not released till next day.

Do you buy and sell options intraday and is your cash released at the end of the round trip?

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loufah
 

Registered: Nov 2001
Posts: 930

 

12-14-07 08:26 PM


Quote from visman:


Do you buy and sell options intraday and is your cash released at the end of the round trip?


Yes and mostly. I haven't been recording my BP throughout the day, but my BP certainly goes up when I make a closing trade intraday. I don't know whether it goes up the full amount of the closing trade, though.

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