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Strategies & Market Trends : The Final Frontier - Online Remote Trading -- Ignore unavailable to you. Want to Upgrade?

To: steve goldman who wrote (4191)	5/16/1998 7:50:00 AM
From: Eski	Read Replies (1) \| Respond to of 12617

I agree Steve, that's why I give up BB-Stocks even though I made alot of money with them. I believe the mm's are brutal in the BB world. I only do Nasdaq, NYSE, and AMEX, mostly Nasdaq. I signed on with Livetrade (www.livetrade.com) 1 to 2 second executions with confirmations. I figure if your going to play this world of daytrading and short term trader you better have the right tools to do the job. Very happy so far with the system. Eski

To: steve goldman who wrote (4191)	5/16/1998 10:36:00 AM
From: Andrew G.	Read Replies (1) \| Respond to of 12617

Steve: Thanks for your reply and advice: I agree with everything you say. Regarding the 5k. I started out with only $2k to 'gamble' on BB's a couple of weeks ago after making just paper trades over that prior month or so. Well it was at $3K yesterday morning and dropped to $2.4k by day end thanks to the fact that one of my online brokers won't allow me to daytrade a BB stock unless I have the equivalent amount of cash in the account from the prior days close. It's crazy. The manager says it's a SEC rule. I asked two Schwab 500 team reps for my other accounts and they said the SEC doesn't care how much you have in your account and Schwab. At Schwab, if you buy and sell the same stock (and same number of shares) in the account on the same day, they don't care whether it's a BB or a blue-chip you don't need some cash collateral in there. I feel screwed and I've got to move to another firm. I was wringing my hands Friday morning watching stock I bought that same day (IRSN) double on me and then fall back because I couldn't trade out. I wanted to scream. $19.95 is steep for $5k but it will kill any gains on only $3k or $2k of cash for trading. Over at Schwab it's $29.95 so everything has to be a long buy unless you have a sh*t load of cash to invest. The screwy online broker that I'm using now charges $9.95 for trades on BB or anything else. Website is like a toy compared to e-trade lacking things like time of day of execution. Speed is slow, service is near perfect, but their daytrade rules are ridiculous. My picks lately tend to be outstanding daytrade material but very volatile over any extended period. I need to daytrade as cheaply as possible with fast execution. I can turn $5k into $25k in a week. I've done it week after week on paper, with minimal losses (10-25% next to 150 -450% gains) Now I just need the right broker. So far I'm hearing NDB is the way to go.