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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank
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To: Ed Forrest who wrote (5275)2/11/1998 4:21:00 AM
From: mr.mark  Read Replies (1) of 120523
 
ed, i trade online using waterhouse securities' webBroker. from what i can determine from your post, you at least need to get a margin account to daytrade. then it becomes a matter of not exceeding your buying power each day. keep in mind that there are two types of buying power though... regular and daytrading. and keep in mind that a lot of the "account officers" are not brokers and evidently have trouble getting the deli sandwich order straight each day, let alone calculating your buying power. i joke, but in some unfortunate cases, this is exactly correct. i always figure what i think my buying power should be, then i call and see if we concur. in a pinch, i check with the manager at the sacramento branch. point not to be lost is this... be aware that there are two types of buying power, and (as i am sure you already know) some of these folks don't understand buying power. to the best of my knowledge, reg bp is calculated real close to the 50/50 ratio we all hear so much about. daytrading bp can get you closer to 35/65.
i'll add also that i highly recommend waterhouse. good luck and hope i haven't made mud out of clear water ;-)
mr.mark
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