Comments on: Best discount broker for prospective day / swing trader? http://www.bestmomentumtradingcourse.com/best-discount-broker-for-prospective-day-swing-trader.php Best Momentum Trading Systen and Course Wed, 06 Apr 2011 21:07:02 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: peilthetraveler http://www.bestmomentumtradingcourse.com/best-discount-broker-for-prospective-day-swing-trader.php#comment-26 peilthetraveler Sun, 11 Apr 2010 13:03:48 +0000 http://www.bestmomentumtradingcourse.com/best-discount-broker-for-prospective-day-swing-trader.php#comment-26 you need a minimum of 25,000$ to day trade. If you get your series 7 license though, you might be able to go to Bright Trading with 10k (I would call them first though) They give you use of their capital (millions of dollars) but you can seriously get stung with a bad day. Dont trust the sim programs because on them, you get your orders right away. In real life when you do limit orders, you sometimes dont get in at the price you want. (or get out) Sometimes you place a limit order and you have several thousand shares ahead of you waiting for the same order then the price moves and you dont get filled. you need a minimum of 25,000$ to day trade. If you get your series 7 license though, you might be able to go to Bright Trading with 10k (I would call them first though) They give you use of their capital (millions of dollars) but you can seriously get stung with a bad day.

Dont trust the sim programs because on them, you get your orders right away. In real life when you do limit orders, you sometimes dont get in at the price you want. (or get out) Sometimes you place a limit order and you have several thousand shares ahead of you waiting for the same order then the price moves and you dont get filled.

]]> By: qu1ck80 http://www.bestmomentumtradingcourse.com/best-discount-broker-for-prospective-day-swing-trader.php#comment-27 qu1ck80 Sun, 11 Apr 2010 13:03:48 +0000 http://www.bestmomentumtradingcourse.com/best-discount-broker-for-prospective-day-swing-trader.php#comment-27 I use mbtrading.com and, although I invest with a longer time frame, they might work good for you. They have very good pricing ($1/trade for 100 shares or less), and the execution is great. I'm not sure about the day trading minimums though, but I think if you buy and hold for at least one day, it's not considered day trading. Also check out zecco.com, they've got cheap commissions as well. I use mbtrading.com and, although I invest with a longer time frame, they might work good for you. They have very good pricing ($1/trade for 100 shares or less), and the execution is great. I’m not sure about the day trading minimums though, but I think if you buy and hold for at least one day, it’s not considered day trading.

Also check out zecco.com, they’ve got cheap commissions as well.

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