Tips for new traders....

[qazmax]

Quote from cc2trade:

who is this guy kidding? Brokers are in it just to make money, period. Brokers sell out of their own inventory, brokers trade the spread, brokers push underwriting issues for commissions, brokers pump and churn the market, brokers have relationships with floor brokers......and on and on

When was the last time your broker called you first with new news?

How hard does your broker try to avoid split limit orders?

Look at the broker ratings on theis site for customer opinions. There are some horror stories.

it is, and always has been, buyer beware. I would be happy to see all of them buried and go to pure electronic trading.

Yes, this old fashioned broker is really just a sales guy. He is admitedly in it for commission. Is this case you are a step outside the market place and you are getting fleeced by a sales guy not an execution desk.

Electronic trading is available (fast forward to the year 2006) so you do not have to worry about this desire to see them "buried and go to pure electronic trading." This is not meant to be a wise crack but... if you are waiting for your broker to call with news you have larger problems than execution quality.

Ok it was a wise crack... sorry.

 

[qxr1011]

Quote from qazmax:

Helpful hints for new traders...

Your broker does not conspire against you... they benefit when you trade succesfully. There is no benefit to the broker when you lose money or get a margin call.

While trade errors happen the market does not conspire against you either. Sometimes information on the "superhighway" is delayed but mostly it is just that you are wrong. This may be hard for you to accept, but for the most part you do not exist to the rest of the trading world and the conspiracy is in your head.

If I can be of further help please feel free to PM me.

(Sorry for the sarcasm)

Rephrasing famous quote "Bad dancer always blames his balls": Bad trader always blames his broker.

But to be fare to the brokers one must admit: they all are crap...