Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Non-Tech : MB TRADING -- Ignore unavailable to you. Want to Upgrade?

To: William W. Dwyer, Jr. who wrote (1540)	10/24/1998 10:24:00 AM
From: Joseph H. Leiti	Read Replies (2) \| Respond to of 7382

Off Topic :: Customer Base ?? and Side note Bill, Would you happen to know how large MBs customer base is ?? Just as a side point for others : I'm basically a position trader. While MBs commission schedule isn't the lowest around, you more than get what you pay for in this service. I have a couple of other accounts. I'm in the process of closing positions and moving monies over to MB. I just moved up from MBLite to MB Custom (I have my own RT data base using WOWdt.. Not great but a decent scanner for my needs). Just yesterday, I tried to place an order with Spartan Fidelity.. Honestly ; They answered with "Please hold" (that was 1-2 min), tried to place the order (they couldn't find the symbol, 7-10 MIN, record and place the order 1-2 min.. add it up and to top it off they want 50+ in commissions. Needless to say I canceled the order (by the way, it would have still been a profitable trade but at that point the sparkle was gone if you know what I mean). The Spartan account used to be their best traders account ! When I asked how to close the account, this same guy actually asked me "why ?" I TOLD HIM .. his response was a very dull "OH..." I can tell less experienced Traders, Position Traders and maybe even active Investors this ... If your buying into the Nasdaq market, your willing to do that little bit of extra work (I consider that the fun part) to get a good price, ... You need Level 2 ... You need to take the Elite traders advanced course or at least have that info explained to you by someone (The Ax or Hammer). It's not earth shattering, it just a simple explanation to the level 2 screen and another "View" of the market in a stock. 200 bucks well spent. Re-readable as its a small piece that apparently will get updated in the future and you bought the rights to view it. Another is .. With MB, If you want, you can be completely independent. By that I mean ... say if you like me are running your own base, you really don't have to be logged on all the time. When I see one of my targets approaching, I may log on that morning in preparation for the trade. (Anymore though, I log 1st thing just to watch certain issues by Breaking AM News. I guess my overall point is MB is a great Trading / Investment platform, that can be used whichever - however you choose ! A decent ticket price of 25 and under. And an execution of .. you get what you want (obv. if its available) when you want it and "fast". For me (short term positions) , it's like taking a limo to my trading workplace. If I want to get down with the dogs I have the tools in place to scrap with the best !!! Thanks for listening joe Naples Fl

To: William W. Dwyer, Jr. who wrote (1540)	10/24/1998 10:42:00 AM
From: Berney	Read Replies (1) \| Respond to of 7382

Bill, I think you missed the point. I downloaded the account application forms, including the IRA documentation (i.e., beneficiary info) from the MB Trading site. Based on this, how would I even think to ask whether you could use their system for an IRA? In fact, you can only use their system for an IRA if you want to phone in your orders. Give me a break! I would respectfully disagree with you regarding an IRA being an appropriate vehicle to day trade. Frankly, it's the only place in my opinion. I don't have reporting hassles for the sales transactions and don't need to deal with current taxation issues. BTW, I also don't trade to lose money. I try to position trade in bull markets and day trade in bear or non-trending markets. However, I would agree with you that if you were going to choose to lose money, an IRA wouldn't be the place to do it (you might want to click on my bio), but then, why would you play this game at all. Berney