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Please Help - Etrade cost me $2,500 today
- Thread starter tradermike88
- Start date
Nah see not IRA accounts not individual you probably have company accounts maybe but ive looked on the page and it says IRA for USA residents only it tells me to go to Timberhill PTY LTD for individual account in Australia.
Quote from brokerboy:
to try and make 20 cents no less. i dont see the risk/reward in that trade.
Yeah...maybe I was a bit harsh. But to hold a position into earnings without some sort of reasoning is just plain nuts. I can see if he had a big lead on the position and a good cushion to absorb a move against him....or if the stock had lets say been clobbered going into earnings and he put in a low ball bid to try and scoop up some seeing how the bad earnings might be somewhat priced in.....
But to take a position because of the upcoming volatility,,,and then to look to make a measly 20 cents on a 99 dollar stock is ...well......stupid.
Thats not a trade I would be looking to do....but ya hvae to look to take a hell of a lot more than 20 cents if youa re gonna pull the trigger on such a risky/bad idea...
Quote from GGSAE:
How's this sound (this was actually recommended by a friend several times)..."all you gotta do is buy a million shares of a stock and when it goes up a cent sell the million shares", no joke!
LOL.......nice one....so thats how the big dogs out there do it....
I once had someone recommend I trade 1000 sp's at a clip and look to make one tick a day.....was telling me I could make quarter mil or so a month.....one problem...if I am looking to take a tick profit, what is my downside risk? SO I guess once it goes offered against me I gotta bail......friggin moronic thinking....
Eprado, I noticed your post regarding why I would make such a trade. I make many types of trades like this throughout the day. In fact, sometimes at the open I will wait for GOOG to gap one way or another and then trade 500 shares of GOOG against the gap once the direction turns and take profit after it moves a measly $0.25. Why would someone do this you ask? You assume that the risk/reward ratio is not worth it. This is simply not true. Many of these scalping plays like the one I previously mentioned have win rates that are close to 100%. The only reason the trade with IBM didn't work is because I was unable to get out of the position because of ETrades crappy software. You would benefit yourself to actually learn about what scalping is rather than just dismiss it as a bad risk/reward play.
In the future, people would probably respect you more if you offered constructive criticism as opposed to trying to belittle other traders.
Mike
In the future, people would probably respect you more if you offered constructive criticism as opposed to trying to belittle other traders.
Mike
Quote from angryangry:
Ok I misunderstood it,
What I mean is to use it here I have to go through some company called Timberhill Pty Ltd
(Introducing Broker for Interactive Brokers in Australia)
and I have to give them my tax information because they are in Australia.
What I mean is I cant use Interactive Brokers USA, I need a broker NOT in my own country so this leaves out Interactive Brokers and Man.
What about Eminidirect?
Eminidirect is an IB for Vision LLP are these any good?Of course I dont really want an IB I want direct access like Farr without the ridiculous commissions and mistakes.Farr you gotta get at least 10 points to make $50 with 2 contracts cos it works out like $25.10 for RT for one emini Dow contract how pathetic is that!!!
Hi, I'm quite confused where you saw that information. No accounts with IB are opened via Timber Hill. Timber Hill are not an introducing broker for IB. Australian residents would open an account with Interactive Brokers LLC. This is a US company, and is registered in Australia with ASIC and a member of the SFE.
IRA stands for "Individual Retirement Account" which is used in the U.S. It's not relevant for Australians.
Please let me know if you need further clarification.
Yes I dont want to have any of my income or tax details sent here I have found out that I can most certainly open an account with Interactive Brokers for an individual NOT an IRA , however, because they have a company here they may report my income and tax etc.
If I use a sole usa or another country broker that doesnt have any registration here then I dont have that problem as I use hsbc offshore bank account with a debit card.
If I use a sole usa or another country broker that doesnt have any registration here then I dont have that problem as I use hsbc offshore bank account with a debit card.
What about Power Etrade Pro, their highest level of software.
They claim it to be unequivocally a Direct Access Trading Platform.
Downloadable onto your computer.
Im thinking about them, but if there is something i need to know, let me know now.
Has anyone used Power Etrade Pro. (Not Etrade Pro, but the top level software they have, Power Etrade Pro)
They claim it to be unequivocally a Direct Access Trading Platform.
Downloadable onto your computer.
Im thinking about them, but if there is something i need to know, let me know now.
Has anyone used Power Etrade Pro. (Not Etrade Pro, but the top level software they have, Power Etrade Pro)
I think you should call them and ask the question: Do they allow you to route directly to ECNs and exchanges without any intermediaries? Is this true for all stocks? And any other questions you can think of.
But the real question is what kind of trader are you? What is your style? How long will you be in each position?
You may not need a direct access platform and be able to benefit in other ways.
Regards,
MM
But the real question is what kind of trader are you? What is your style? How long will you be in each position?
You may not need a direct access platform and be able to benefit in other ways.
Regards,
MM