Also, if you ever get really tired of trading Nasdaq stocks because of all the problems with the web brokers, I would suggest looking into trading the S&P e-mini contract (which is order matched electronically) using Lind Online Direct. You can get free charts real time anywhere on the net. The margin required per contract is about $4000. You can go long or short with no problem. The market is very liquid with small spreads.
For years I traded stocks, and finally just gave up on them because of all the research required to "keep up with the Joneses". Now I don't have to do anymore homework and just trade the S&P futures contract, which is conservative in terms of volatility compared to most Nasdaq stocks, particularly internet stocks. I don't have to play games with market makers.
Up till a week ago, I refused to trade online because of all the problems that I had heard, particularly from those on my web site, saying how bad the online brokerage firms are. Then I thought to myself that I should just try it to see for myself, and to my surprise, my broker, Lind Waldock, has an amazing system and I have not had a single glitch using it. On the e-mini, I get my (I only use market orders) fill back in 5 seconds. On the big S&P I get my fills back in about 15 seconds. I will never use the phone again. And on the odd day that the system is down at the CME, I'll just take the day off. |
