who's the broker rippin' u off with a $20 rt commish for 1 lot...that's flat out robbery. why dont u switch to somethin' like ib where u pay just $1 a side; have u got an idea how much that would save u? nevermind the countless more chances u can take and the more forgivin' losses.
uptick rule is no much of a nuisance...tho nyse bastids not fillin' u when stock is tumblin', even after your 20th try is sure a pain in the butzz.
I traded at DATEK. Pretty sure they were around $10 in and $10 to close. I think I read that Ameritrade is charging around $15 in and $15 to close...? IB only charges $1 in and $1 to close? Hm... For how many shares?
sounds nice, but I dont know anything about currencies. Not much documentation on the subject. You make more $$$ in stocks than currencies anyway, right?. btw, I pay 14 round trip, not 20. LOL 14 is enough!. - Nathan
I should add that ALL my bids/asks are hit instantly - always. Only during highest volatilty times (5 to 10 minutes?) a few times a week, if that... more like, a month...? will my broker not fill instantly. But, we're talking during the middle of NFP announcements. All the rest of the time I get click >bam< instant fills. Plus ForEx never closes - it trades 8760-hours a year, slowing on weekends.
You're right, not much documentation out there - except by shady brokers who front as "training courses" then try to JAM you into opening an acct. Or, by morons charging $5,000 to over $10,000 for their trading "courses." You're pretty much left on your own to figure it all out. Apart from that, though, currencies trade the same as stocks, only, in "pairs" - think MSFT/YHOO... when you buy one you're automatically selling the other - and visa versa. It's about the only difference. Besides the ForEx being 100s of times larger than the stock market. You don't necessarily make more money on stocks than on currencies. I can make 1000 trades in a week - I pay nothing in commissions. I can get you up and running and into the ForEx in about 2 to 3 hours of training. For which, I charge... $40,000,000. No, just kidding. I wouldn't charge you anything. PM if you want. dd
Nathan, Check out Ameritrade Izone. $5 per trade. http://www.izone.com/home4.html I used them when I was trading stocks...still have a small account. They used to be called Freetrade. But then they decided to charge $5 so they changed their name. :eek: Jimmy's right. Trading is similar to playing blackjack...you've got to know basic strategy or you're just giving your money away. Good luck! MiniDowTrader
Nathan if you are going to try currencies, as a friend, just go with currency futures not forex. You can get less than $6 one time not this spread stuff which is going to cost much more, and it is not regulated. Currency futures track spot forex lock step from my real time viewing. Forex is a world filled mostly with bucket shop bullshit. I have looked into greatly and the only two advantages to forex, unless someone can show otherwise, is 1. increased margin- a bad thing for a guy like you and I starting out, currency futures give plenty already 2. you can trade more pairs and make interst on some. That's it. All the reast are cons against spot forex A chart is a chart with a few exceptions. What I use in trading futures indices and currencies would work fine on MFST