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Strategies & Market Trends : Momentum Daytrading - Tricks of the Trade -- Ignore unavailable to you. Want to Upgrade?

To: watcher who wrote (1082)	6/4/1998 3:23:00 AM
From: 246810	Read Replies (2) \| Respond to of 2120

TO ALL: Steve's point about the principal vs agency is that if the broker is the principal, the MM, the owner of the stock you are buying, then they may give you a great commission structure but screw you on the price. It doesn't take many pennies per share to make up for zero commission like WebStreet offers. You only get what you pay for, and if you are a major trader you probably want a pro to work your trade from his multi-market terminals. By the way, NDB has a better commission schedule than DJL, you can trade pennies using decimals and no cents/share are added for any quantity of unlisted shares. However, I am not recommending you trade pennies, unless it is just the egg money. 246810

To: watcher who wrote (1082)	6/4/1998 1:32:00 PM
From: LAWRENCE C.	Read Replies (2) \| Respond to of 2120

watcher, it depends on the size of the trades you do. I'm a small fry so I try to get the best price on a stock that I can. The basic DLJdirect commission structure is $20 plus 2 cents per share for every share over 1,000 bought during a day. The same applies for sells. There is no extra markup for limit trades which is what I use most of the time. So the number of shares you trade makes a big difference in commissions. Another SI member said NDB works the same way but their initial commission is for the first 5,000 shares which is a lot better. Lucky Lawrence