Daytrading Canadian stocks in Realtime Message Board

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Gold/Mining/Energy : Daytrading Canadian stocks in Realtime

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To: Vitalsigns who wrote (24687)	11/20/1999 9:53:00 PM
From: Swami	Read Replies (1) of 62348

<P.S By the way Swami , i would like to know what happened with Schwab lately that has turned you off them> I found Schwab to be the best broker. The reason i have not traded with them for a while is because all my money usually sits in a few bank accounts in Scotia and i move it from bank account to Scotia discount account quite frequently. I leverage a lot specially for more than 100K trades for in and out Wam bang thank you Mam daytrades. My Line of Credit with Scotia will allow me to buy from my bank LOC whereas Schwab i have to write a cheque and the excess cash after selling sits with them earning less than my Line of Credit (prime)about 3.5 % less. AND to get money out of brokerage accounts is a hassle. So you see it is strictly my situation. Last cheque that Schwabb cut for me took 12 days before getting deposited into my scotia account. Scotia has specifically not included Schwab in their Bill payment payees on the Web for obvious competitive reasons. TD you can BILL pay into E*Trade as a payee on the net. Now if Schwab could pay me around prime-1-2 on my cash balance or they could trade from my Scotia bank account i will trade every day thru Schwab. My commisions for July were $3500 so no one will loose money . Does anyone know any broker who can link directly to your bank account? Even TD it takes TWO days if you deposit into your brokerage account at an ATM or transfer on the net banking!! How is that explained in this day and age ?? TD obviously has the use of your money for two-three business days it can add up. No wonder they made 1.5 billion last year. Any way I am holding a large chunk of TD stock these days from 29-32 dollars so i am not complaining... Sorry about the Diatribe Best Regards the Swami PS I wonder who Chief uses for his telephone trades he seems to get quite quick executions. e.g MCF on Thursday he cought it at 5.95 before i could blink...i seem to remember asking him about in a pm and he did not respond. Probably does not want his telephone lines clogged down by daytraders<ggg> smart man..

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