"the daytrader is dead" - AMTD CEO
- Thread starter gaj
- Start date
andy62279 said it best, but since i haven't seen AMTD's setup in a couple years, i can't answer definitively.
if it's as it used to be: the datek arm was giving better prices than AMTD, and wouldn't sell your order to 3rd parties. that slows it down, and doesn't always result in you getting the price you should get.
if you make 1 daytrade a day, you can avoid most problems with AMTD. but there will be some point, where you want to enter a hot moving stock, and you place an order above the ask...
and that's the one that's 'sold' to a 3rd party, who may not have to get you the price in a fast moving market...
and you either won't get the trade (on an entry), or if you're trying to exit, won't get out and watch money disappear. then you'll want to move.
if it's as it used to be: the datek arm was giving better prices than AMTD, and wouldn't sell your order to 3rd parties. that slows it down, and doesn't always result in you getting the price you should get.
if you make 1 daytrade a day, you can avoid most problems with AMTD. but there will be some point, where you want to enter a hot moving stock, and you place an order above the ask...
and that's the one that's 'sold' to a 3rd party, who may not have to get you the price in a fast moving market...
and you either won't get the trade (on an entry), or if you're trying to exit, won't get out and watch money disappear. then you'll want to move.
Thanks gajl! I'm looking at someother brokers (IB, Xoom and MB).
So far Ameritrade had been OK (at least from my limited prospective). I pay 10 bucks a trade and I get filled in a few seconds (2 to 4 seconds generally). Is that slow by your standards?
They do have deals with some market makers that pay them a small % to get the order flow but I think (?) you get "National Best" for your market order.
Anyways, I don't think the CEO is very connected with what's going on.
Have a Properous New Year---Daytrading,
Davo
So far Ameritrade had been OK (at least from my limited prospective). I pay 10 bucks a trade and I get filled in a few seconds (2 to 4 seconds generally). Is that slow by your standards?
They do have deals with some market makers that pay them a small % to get the order flow but I think (?) you get "National Best" for your market order.
Anyways, I don't think the CEO is very connected with what's going on.
Have a Properous New Year---Daytrading,
Davo
- 10 bucks a trade. Flat? IB will charge 1c per share, or 0.5c per share if the order is >500 shares of stock. Do you trade 2,000+ shares per click?
- Filled in a few seconds? You mean ... Milliseconds? Is that slow by my standards... Umm... Well...
If you're hitting the bid or ask, then it is very slow. If you're entering limit-order it may not be.
If you're entering at market, it shouldn't take more than about 200ms to get a fill, depending on where on earth you are.
If you're trading <2,000 shares, I don't recommend $10 per ticket.
I wouldn't recommend Ameritrade unless under torture.
Scientist.
PS: IB is far from the cheapest for active intraday stock traders.