Online Brokerage of Choice?

[SammyBoy]

Hey guys, gonna do sum day trading.

I was wondering what brokerage u guys think I should set my new account up on.

RJT has 5 dollar limit trades, but 2grand minimum (im only 16, probably gonna have 1000 by time I start)
Amazingly I like E-trade, i like their L2 setup and everything.

So guys, who do you recommend?

thanks!

-Sam

 

[FelixDeCat]

So guys, who do you recommend?

I recommend you do not day trade, especially with the new rules that went into effect 9/31/01. The rule is no more than 4 round trips (buy/sell) in a 4 day business period. If you exceed this your account will be closed unless $25,000.00 is deposited immediately.

 

[SammyBoy]

dude, I can handle it.

I am not gonna trade constantly, im not rich so i will be putting all my eggs in 1 basket, and relying on just 1 or 2 stocks at a time, and maybe holding it over night and trading it before hours

 

[tontod]

I use datek, I'm pretty happy with it. I think that their limit is just $500. And $9.99 per trade.

 

[gotsmack]

Do you have ti make 1 trade a month minimum so you don't get charged a fee for datek?

I use TDWaterhouse it's pretty good. I was going to use E trade but each trade cost $20 as opposed to the $12 waterhouse market order trade (or was it $13, I haven't touched anything lately so I forget)