Fight The Power! -Your Broker Just Screwed U - Now What? Message Board

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Non-Tech : Fight The Power! -Your Broker Just Screwed U - Now What?

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To: TFF who wrote ()	2/6/1999 12:51:00 PM
From: rlp66	of 323

To all investors who want to daytrade: DO NOT use an online broker if you plan to daytrade. On-line "brokers" are OK for investors and intermediate term traders but if you want to get in and out of a position quickly you will eventually get into trouble using an on-line broker. Fill confirmations can sometimes take hours or a whole day. Obviously, you can not get out of a position if you are not sure that you are in one. There is a better way. If you are serious about daytrading use a direct execution system with level II service. There are many available. I personally use 1800daytrade located in Dallas Texas, but you should do your own research before choosing a service. A few other good ones to check out are Castle online, MBTrader, and Growtrader. A good place to start your research is at the following site: investorama.com. There you will find a list of many different types of services for daytraders and their links. READ: THIS IS VERY IMPORTANT!!!! Do not jump into daytrading unless you are very serious and can afford to loose at least $10,000 learning to trade this way. I am not saying that you will loose $10,000. Take the time to learn and preferably take a course in daytrading. Many are offered. You will find some listed on the above site. I am not making any recommendations. Do your homework and find out for yourself what works best for you. I spent four months researching On-line brokers and execution systems and you will only find reviews on on-line brokers at such sites as Gomez Advisors, Barron's, CBSmarketwatch, and Smartmoney. So far, I have been unable to find unbiased reviews on direct trading services. If anyone knows of such reviews or if you have had any first hand experience with a trading service (other than a broker) please let me know. I would be happy to discuss this further If anyone has any questions e-mail me or respond. Ray.

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