Online Trading vs. Using a Broker (With my Calls)

[BigBrian]

Hi all-

Just wanted to see what peoples opinions are...I do a lot of trading, basically just getting in when stocks dip and selling when they climb 8% or higher. I wouldnt say I "day trade" but sometimes trade a stock within weeks of purchasing it.....

I use two brokers, one I sent money and he does everything.....some long, some short, but he's good.....17% annually since 2004. I'm OK with that. I have another account where I sent a chunk of money, half the money they manage and trade, the other half I just make calls and tell them what to do based on my research..OK, my hunches.LOL.

ANyways, they do NOT charge me when I make the calls, etc, only when their recommendatinos are traded. would this be easier for me to do with an online trading account? what are the ins and outs, pluses and minuses of doing this "on my own?"

Also, is there a preffered name for onine trading, I've been looking at ScottTrade pretty close...

ANy info, opinions, etc, are appreciated....

 

[TheFalls]

Hi all-

Just wanted to see what peoples opinions are...I do a lot of trading, basically just getting in when stocks dip and selling when they climb 8% or higher. I wouldnt say I "day trade" but sometimes trade a stock within weeks of purchasing it.....

I use two brokers, one I sent money and he does everything.....some long, some short, but he's good.....17% annually since 2004. I'm OK with that. I have another account where I sent a chunk of money, half the money they manage and trade, the other half I just make calls and tell them what to do based on my research..OK, my hunches.LOL.

ANyways, they do NOT charge me when I make the calls, etc, only when their recommendatinos are traded. would this be easier for me to do with an online trading account? what are the ins and outs, pluses and minuses of doing this "on my own?"

Also, is there a preffered name for onine trading, I've been looking at ScottTrade pretty close...

ANy info, opinions, etc, are appreciated....

How are is the second firm not charging you anything when you "make your own calls" -clearing fees at the minimum?
Sounds like they just hold your bets.

Unless there is a problem with your fills or stops, it is cheaper to stick with your second broker who is "free," rather than even having to hassle with an online acct.

Ideally, you would just take out all of your money of both brokers and duplicate your first brokers portfolio mgmt plan with most of your money, and then do your own thing with the remaining speculative cash.

Interactive Brokers is the best-assuming you make at least 5 trades a month.