I am a swing trader. I trade small lots of 75-100 shares, executing 10-12 trades or 20-22 round trips per month. I currently am working off the 25 free trades at Ameritrade and feel I could reduce my commissions considerably with IB, once the $10.99 ea way kicks in that is.
Features I believe to be available with IB, but would appreciate confirmation include simultaneous order entry and mobile access via a web enabled cell phone.
Ideally, I could enter my stop/limit order to buy or sell short and simultaneously enter the exit price AND the stop loss before ever leaving my home for my day job. I could then wait until the end of the day to see which way my trade went. In other words, I can't be watching the market and adjusting my targets during the day. Is this scenario available from IB? Entering my limit price(entry), Exit price(profit), and Stop price (loss) all at the same time. The prices would be considerably far apart,ie; a couple of dollars at least.
What about commission minimums? Trading small lots as indicated, even with fairly high turns still results in low monthly commissions and I read where if you don't generate at least $30/mo., they charge other fees? What would the fees be?
The web enabled cell phone is for the rare occasion when I can watch the market and if I decide to make a trade during regular market hours, which will be very rare. My account size is 10K and I'm looking to make a few extra hundred a month. Incidentally, Im using a monthly newsletter (I don't work there) called Synergy Trader, Tom Biorrovic, any comments on this would be useful as well.
All feedback is appreciated.
Features I believe to be available with IB, but would appreciate confirmation include simultaneous order entry and mobile access via a web enabled cell phone.
Ideally, I could enter my stop/limit order to buy or sell short and simultaneously enter the exit price AND the stop loss before ever leaving my home for my day job. I could then wait until the end of the day to see which way my trade went. In other words, I can't be watching the market and adjusting my targets during the day. Is this scenario available from IB? Entering my limit price(entry), Exit price(profit), and Stop price (loss) all at the same time. The prices would be considerably far apart,ie; a couple of dollars at least.
What about commission minimums? Trading small lots as indicated, even with fairly high turns still results in low monthly commissions and I read where if you don't generate at least $30/mo., they charge other fees? What would the fees be?
The web enabled cell phone is for the rare occasion when I can watch the market and if I decide to make a trade during regular market hours, which will be very rare. My account size is 10K and I'm looking to make a few extra hundred a month. Incidentally, Im using a monthly newsletter (I don't work there) called Synergy Trader, Tom Biorrovic, any comments on this would be useful as well.
All feedback is appreciated.
