I am having some trouble understanding IB's rate schedule. http://individuals.interactivebrokers.com/en/accounts/fees/commission.php?ib_entity=llc Commissions Is 1 trade a "contract" ? I will look into it further. thanks again for the replies! Cheers
I think you should compare what you would be paying at IB as well as other brokers. Do the math for a year's trading and see what it amounts to. You could be pissing away 10% of your account a year by paying too high commish. Also, it sounds like by using the "Auto" button, you are always giving up the bid/ask edge. That can end up costing you a lot as well. If you only save $.01 a trade, that is still $5.00 on a 500 share trade. Again, do the math and figure what it amounts to a year. How often you can get filled on a limit bid depends on a lot of things, but in most stocks it's not that hard.
I don't know what I was looking at! I found this: http://individuals.interactivebrokers.com/en/accounts/fees/commission.php?ib_entity=llc Commissions It looks a like I would be paying ~$3.50 each way ! Are there other fees with IB? (I will look) I am downloading Quote Tracker now http://www.quotetracker.com/index.asp QuoteTracker So I am assuming that all IB is a platform to enter orders and it does not give me the charting etc? (again I will research) I suppose the nivce thing about ET Pro is that it is all right there and all I do is click on a chart and it gives me an order window. Plenty to learn. thanks
This thread really got off from when I first read it. A few questions, What happens if you buy the security pre-market and sell it during market hours? Is that considered a day trade? What happens if you buy a security in market hours and sell it after hours? How far spaced do the trades have to be to not be called day trades? Does it only apply to US securities? Futures are not affected right?
I think a premarket trade and a regular trade in the same day is a "day trade" I read up a bit on it here; http://tinyurl.com/yzs6sn there are some good examples and scenarios. Thanks again for the replies I got rather than the "look it up/search" for it responses. I appreciate it. Cheers
Check out E-trade's "Market Trader". You can run this at the same time as using E-Trade Pro on the same computer or separate computers. This may give you more screen space
Yeah, I discovered that when I got shut out of ET-Pro. I used the "market trader" on 1 screen along with Yahoo interactive subscription on another screen . It sucked. My Etrade Pro is back on. I can cancel my yahoo trial . I think I will continue to use Etrade while I learn. I certainly want more if i trade FT. I will probably go with IB but I do not like quote tracker (first impression) so I will try to figure it all out in the meantime. cheers