Hi Steve, I don't preferrence anything, perhaps I didn't understand or wasn't clear. I have an ARCA button, unlike cyber where you preferrence with selectnet. Again, I prefer not to use ARCA (sometimes quick and great, other times abominably slow), though at times one is limited in choice, such as those MMs showing 100 and 200 tiers on thinly traded issues. In that scenario, I'd much rather use ARCA than pay for 5 or 6 tickets for my order.
I agree with you on Cyber my friend. I've heard some nasty stories similar to yours. Having demo'ed Cyber, I felt its a powerful piece of software but the firms currently offering it are a bit suspect. One friend trading with a cyber brokerage from Atlanta ("capital gains"?) doesn't even get confirms mailed to them. Jeez, you'd think that was pretty standard, right?
With regard to trading options in IRAs, I was not referring to covered calls. I was talking about opening a put or call position (not doing anything fancy like bull or bear spreads/strangles). This allowance on Watley's compliance department does make for some interesting trades. Hey, I'm young and cannot afford 1k shares of flipping some stock in my IRA. But its sure nice to know i can buy 10 or 20 contracts of a call for a trade. Best of luck to you.
Regards,
SH |
