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Daytrading with IB

  1. I am ready to open an account with IB. I will probably do 4-10 trade a day in equities mostly OTC.

    IS IB a good choice?

    Also I plan to enter my trades every day in an Excel sheet the way IRS wants it? I hope somebody else does the same thing and comment on his/her methods.

    I would apppreciate any feedback.

  2. I don't think Ib does otc stocks but better check
  3. You have more than $25k? If not then the PDT rules will apply.
  4. ok I ment NASDAQ and the account will be over 25K. Seeking 1% a week.

  5. you're seeking 1% a week? or your system generates 1% a week?

    hehehe...just messin with ya
  6. IB is your man. Good execution, and partial commission rates on partial fills apply, unlike an Ameritrade, E-Trade, Schwab, etc. Their system availability is excellent as well.
  7. Yes low commissions, my question is how good is their platform for daytrading. I would like to hear from traders that use it the way I plan to.

  8. Once you get used to the interface, its fast as hell.
  9. Just use one of the third-party free frontend and its terrific!!

    I use and like autotrader, but at IB-Community you'll find many more under topic 'freelance tools'.

  10. With that number of trades a day, you won't have any difficulty keeping track of your trades on Excel. That's what I do as it hasn't seemed worthwhile to try to download the data in Quicken or something else like that. Just be sure to keep up with it and cross check it frequently (like daily) to your account statement to be sure everything matches. It does get a bit tricky if you've short sold stock and have to pay dividends.
  11. I am in the same boat and would like tot know if anyone uses IB & Quotetracker to daytrade?? If so do you ever have problems??
  12. I wouldn't quite say hell, it's more like a tachyon burst.
  13. QuoteTraker has excellent charts and if you daytrade one at a time, I think you could daytrade just fine. It depends on your method. They only have one order entry window at a time so it gets a little hary if you try to change symbols and etc., but they do have some nice features; right click on the position ledger loads the symbol and the number of shares you own. There are other short cuts as well. It's intuitive and they are doing upgrades all the time. Good support for meaningful concerns either by email or the Quotetraker forum. It's not Real Tick, but it does fine for my swingtrader strategies. Just get a good quote feed and check it out. Good people. :cool: