Fast and cheap >1000 shares ??

[Ebo]

A.B. Watley Sucks.
E Trade bought their Pro Platform and it is absolute garbage.
Child's toy.

 

[gaj]

if you're thinking of going to ab watley, search on ET for watley threads...

and go to yahoo msg boards (for ABWGE)...

and then think long and hard about going there....

 

[MRWSM]

Quote from Moa:

Me too... Now than share prices are very low I must trade 2000-5000 and IB is very expensive for size.
Try www.freetrade.com, but i need native MOO and MOC orders and i don't know if they have it (I emailed them 3 weeks ago about this and they don't respond me).

They got MOC, EOW, EOM, GTC, GTD, AON, DNR. Why would you need MOO, just put in a market order prior to the open.

 

[gaj]

here's the link to the watley yahoo message board. apparently, they haven't filed all sorts of necessary papers, and other bad things...

messages.yahoo.com/?action=q&board=abwge

 

[limitdown]

Quote from def:

Keep in mind IB doesn't pass on SEC or other pass through fees for shares. It also doesn't charge any minimum fees to scale into a large trade. Finally, after 500 shares, the fee is 1/2 penny. Sure that adds up when doing large size but that is a professional fee (and even better than most prop houses since SEC fees aren't included) and any way you slice it, it still adds up to breakeven on 1 tick for true direct access.

Many firms offering fixed rates for high volume are
a: subsidizing the large trades through the majority of trades that are sent int at small size;
b: selling order flow to cover the cost;
c: losing money.

add to that all the mental pressure to keep volumes up, as if just trading, whether scratch or slight profit helps your personal cause. That way, they yield huge amounts per seat instead of whether or not your grub stake stays in the game through profits or scratch trades.

this subtle psychological warfare against their own licensed traders is why most traders maintain an outside account, or just leave off these "leveraged operations", as they're known.

I've seen traders at their desk, trade through Ameritrade (with all its excessive fees) and do better for the same positions, both during and pre/post market than their direct access platform for the prop shop we were at. Imagine that, trading through the retail basis achieve consistently better results than the prop shop DA software.

Whew....

 

[limitdown]

Quote from MRWSM:





They got MOC, EOW, EOM, GTC, GTD, AON, DNR. Why would you need MOO, just put in a market order prior to the open.

Market on Close
End of Week
End of Month
Good Till Cancelled
Good Till Date
All or None
Do Not Reduce

if you're scalping, careful of using these "auto executables", they can be quite deadly to your financial health........

 

[limitdown]

Quote from gaj:

here's the link to the watley yahoo message board. apparently, they haven't filed all sorts of necessary papers, and other bad things...

messages.yahoo.com/?action=q&board=abwge

man that link stinks....

over 4,400 comments on those ........@#$%$#.......

they ripped off the assets of Onsite Trading LLC, and others, and continue to do so through a whole host of names, and no one, SEC, NASD or FBI seem to be (publicly) doing anything...

let's hope that their day will come, and soon....