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Strategies & Market Trends : The Final Frontier - Online Remote Trading
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To: RML Trading who wrote (5370)10/1/1998 12:05:00 AM
From: Dave  Read Replies (2) of 12617
 
RML Trading: The clearing firm is Spear, Leeds & Kellogg. The cost is a penny a share so I can trade 100 shares for $1 or 100,000 shares for $25, that's the maximum charge. Although 100,000 share trades are not realistic, some of the bigger traders do trade 5,000 share lots. If you are a big-time trader I've been told that the firm will even give you a better rate - I am not a big-time trader ... yet. I've been position trading for many years but have only been day trading for two months. I did a lot of thinking and comparing, and finally decided that I wanted to trade at a firm in order to learn from other traders. It was also a very easy decision after comparing the costs of trading from home versus the firm - assuming you make lots of trades. The cost structure at this firm really enables you to take lots of trades and lots of small profits - which I think is ideally suited to trading listed stocks via SuperDot. I can trade NASDAQ stocks for 2 cents a share but the firm is really geared towards listed trading because they feel it offers the fairest market - I agree. This firm has several locations and I plan to trade from the other locations in order to observe and learn from some of the very successful traders. I'm not going to mention the firm name because I don't want to advertise.

Regards,

Dave
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