Stroke,
I've signed up with AB Watley. They do a couple of things for me that I can't get elsewhere. They allow Level II for free if I do over 50 trades a month at $19.95 (I do). They also have Instinet trading where I can call in, talk to an online broker who is sitting in front of his Instinet Machine, he will place my buy (but not OTC-BB)at say 8:00 AM, I will get my market order before I would if I did a Market Order with Schwab at 9:33 AM, for example. I'm told by the Watley guy that I can't do the actual buy at 8:00 AM, but I'm further up the chain than everyone who jumps on with Market Orders at 9:30 or after. You can go to their web site ABWATLEY.COM, and look around, send an e-mail, ask them questions. They'll be glad to help. I also use WIt Capital for buying into IPOs before they hit. I almost think we need three or four different types of brokers. 1) Level II, Instinet guy
2) A Schwab type (because they've always been around and should be in the future) for retirement stocks.
3) A Wit Capital for IPO trades.
4.) A Webstrret Securities type broker who will charge the minimum for a multi-thousand share trade. For example, if you buy 10,000 shares of some penny stock, they'd charge $14.95. Others, like Schwab, charge so much per share over 1,000 - or $300.00 for the same trade.
The above is JMHO, and how I'm forging my way through the online trading maze. All this is as a result of one loss that I took a $23K hit on last December. Seee, I am a graduate of Burn & Learn Academy. Gotta run, I promised "me poor Moother" I'd visit.
Best of Luck at the bell,
re:MAX
P.S. Spelling is INSTINET Go to www.Instinet.com |
