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  1. #1
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    Any daytraders out there?

    Are there any stock daytraders out there?

    If so, can you recommend specific brokerages or software suites in terms of the best user interfaces?

    I am on Ameritrade right now (using their software, too), but I am seeking alternatives.

    -mike
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  2. #2
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    I use interactivebrokers and thinkorwim.
    They both offer commission in lower price, with user friendly interface.

  3. #3
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    On average, how long would it take to setup such an account to the point where you can trade?

  4. #4
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    Quote Originally Posted by Mekhu View Post
    On average, how long would it take to setup such an account to the point where you can trade?
    I would typically found that an account setup process takes 15-45 minutes, but that it can take up to a week for approval + funding to clear (with funding adding the longer part of that delay typically).

    -mike
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  5. #5
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    I'm not sure how they compare to others, but Scottrade is pretty good.
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  6. #6
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    Quote Originally Posted by Mike - Limestone View Post
    I would typically found that an account setup process takes 15-45 minutes, but that it can take up to a week for approval + funding to clear (with funding adding the longer part of that delay typically).

    -mike
    Perfect reply. Thanks Mike!

  7. #7
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    Quote Originally Posted by Mekhu View Post
    Perfect reply. Thanks Mike!
    You're welcome.

    -mike
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  8. #8
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    Quote Originally Posted by john2k View Post
    I'm not sure how they compare to others, but Scottrade is pretty good.
    I don't think for daytrading...
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  9. #9
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    Out of curiosity, stocks are something I actually watch and wanted to get into, on a very small scale, although I am 17.

    Know of any places were I can sign up for something? Or would I need to wait a year/parent control account?
    Not sure what to put here :-P

  10. #10
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    I was pretty into day trading from 2003 - 2007.. and was smart to jump ship before it sank. I used a few services, then moved all my money to my TDAmeritrade account, which I still have but withdrew all the money since I killed with my AIG stock before I "bailed out" at $45/share. Not bad considering I bought the stocks at $12. I wish that $6,000 investment was $60,000.. oh well!

    I nearly pulled the trigger on 500 Citi stocks when it was $3.00... last I looked it's at $4.64. Oh well.. again.. live and learn
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  11. #11
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    Quote Originally Posted by Mike - Limestone View Post
    Are there any stock daytraders out there?

    If so, can you recommend specific brokerages or software suites in terms of the best user interfaces?

    I am on Ameritrade right now (using their software, too), but I am seeking alternatives.

    -mike

    Daytrading instead of working eh?

  12. #12
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    thinkorswim and TD Ameritrade are together now.

    Luckily I signed up for an iZone account. $5/trade but otherwise same as regular TDAmeritrade. and i can login to thinkorswim platform with my ameritrade
    josh

  13. #13
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    Whats wrong with ameritrade? Last year a friend bought some stock invested about 2 thousand and its worth like 50 thousand now.... if you can find a company that will last when stock markets are super low you can strike it rich.
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  14. #14
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    Quote Originally Posted by darkeden View Post
    Whats wrong with ameritrade? Last year a friend bought some stock invested about 2 thousand and its worth like 50 thousand now.... if you can find a company that will last when stock markets are super low you can strike it rich.
    Nice! Which company's stock did he buy?

    -mike
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  15. #15
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    Quote Originally Posted by Mike - Limestone View Post
    Nice! Which company's stock did he buy?

    -mike
    No clue lol he wont tell me but he cashed out some not to long ago.


    I am not sure about forex but people say if you have patience it has some small profit margins http://www.forex.com/
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  16. #16
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    Quote Originally Posted by darkeden View Post
    No clue lol he wont tell me but he cashed out some not to long ago.


    I am not sure about forex but people say if you have patience it has some small profit margins http://www.forex.com/
    Apparently forex (currency trading) also has a lot of risk. It interests me highly, but it scares me, too!

    -mike
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  17. #17
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    Quote Originally Posted by Mike - Limestone View Post
    Apparently forex (currency trading) also has a lot of risk. It interests me highly, but it scares me, too!

    -mike
    That's when you test it out on a friend and if he gives you the Then try it
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  18. #18
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    Quote Originally Posted by darkeden View Post
    That's when you test it out on a friend and if he gives you the Then try it
    Haha. True enough.

    -mike
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  19. #19
    Quote Originally Posted by Amish_Geek View Post
    Daytrading instead of working eh?
    He better not be :-)

    This is something I am pretty interested in too. What is a good amount of $ to put in at the start and play with and "test the waters"?
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  20. #20
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    Quote Originally Posted by Nich View Post
    I don't think for daytrading...
    Why do you consider Scottrade to not be good for daytrading?


    Quote Originally Posted by darkeden View Post
    I am not sure about forex but people say if you have patience it has some small profit margins http://www.forex.com/
    Quote Originally Posted by Mike - Limestone View Post
    Apparently forex (currency trading) also has a lot of risk. It interests me highly, but it scares me, too!

    AFAIK, the forex market is 3x or so the size of the global stock markets combined. It's a much larger market and there can be a lot of leverage involved. Some forex brokers allow up to 200x leverage, so for those who are inclined to "gamble" a bit, it is possible to turn small amounts into big amounts *if* you're using a lot of leverage and the trade goes in your favor. On the flip side, using that sort of leverage can wipe out your capital in an instant.
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  21. #21
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    Quote Originally Posted by Amish_Geek View Post
    Daytrading instead of working eh?
    Just during breaks and lunch

    The joy of being a teacher: Many breaks throughout the day.

    -mike
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  22. #22
    I prefer Scottrade to others
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  23. #23
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    Quote Originally Posted by Gian Seth View Post
    I prefer Scottrade to others
    Out of curiosity, why? Trade execution, software platform, brokerage commissions, or other reasons?

    -mike
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