Which broker for stocks?

Discussion in 'Retail Brokers' started by freewilly, Oct 3, 2006.

  1. New in trading. Only doing paper trading now, and found fees can eat up a big part of profit for good days, and for bad days, fees just make things even worse.

    My trading habbit: 2K-3K shares per trade, 20 -30 trades a day (40-60 round trip transactions), only intraday swing.

    Which firm is the best in terms of:
    1. Commison
    2. Execution time.


  2. trader3


    Try the following for day trading:

    1) Open a small account with a broker that offers a realistic simulator.
    2) Trade the simulator until you can be profitable for a minimum of a month while having positive days at least 67% of the time.
    3) After that, fund your real account with 5-10K over the PDT minimum.
    4) Then trade 100-200 shares a trade for real money until you are profitable for a month with at least 67% winning days.
    5) After proving your profitability in that way, increase your share level by 100 shares per trade each week or two provided you have had a profitable week. As you increase your share level you will uncover some new challenges like getting filled for your whole order and getting out at your desired price as well as the accompanying psychological factors of trading real money at a level that means something to you.
    6) If you are not profitable at the end of any week, don’t increase your share level the next week. If you are not profitable at the end of any two weeks, drop your share level down the following week.
    7) If you are not profitable at the end of an entire month, go back to the simulator and start the process over again.

    Hope that helps!
  3. Excellent, excellent advice!
  4. Thank you very much, trade3.

    Which firm that has real time simulator would you recommend?