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Strategies & Market Trends : DAYTRADING Fundamentals -- Ignore unavailable to you. Want to Upgrade?

To: Matthew L. Jones who wrote (4119)	9/17/1999 5:28:00 PM
From: Dan Duchardt	Read Replies (1) \| Respond to of 18137

If I wish to charge a performance based fee, I cannot be a "registered investment advisor", or a "series 7" licensed broker. Either would disqualify me from being able to charge a performance based fee (e.g., 25% of capital gains). Merrill Lynch is now offering a "per cent of equity" fee for "unlimited" trading either online or through their advisors (registered brokers) or combination of both. While that is not truly performance based, for them to make more $$ accounts must grow. Unless someone is willing to keep sending more money, their fee is at least indirectly tied to performance. Their online trading system is not for daytraders, but has potential to be useful for swing trading. They need to go through some growing pain to ensure access to servers, and to streamline the human-machine interface. It's pretty clumsy right now.