Using an automated day trader to generate income

Re:Using an automated day trader to generate income by SwellJoe on Monday December 08, 2008 @07:00PM (#390621)

So, the obvious question for me is where can I buy stocks for $2.40 per trade? Any day trading successes I might manage would be eaten up by transaction costs at my current broker (where trades are $9.95, I think). I'd probably be a far more active trader at $2.40 (which may not be a good thing, but cutting costs is always good).

[ Parent | on HN ]

Re:Using an automated day trader to generate income by fattyfatfat on Monday December 08, 2008 @07:28PM (#390664)

I use interactive brokers.

The cost of a ES mini (SP500 mini future) trade is $2.40.

Stocks trade for half a penny to a penny per share with a minimum of $1.00 per transaction.

I think they require 20k to start a new account these days though.

IB has been by far my favorite brokerage

[ Parent | on HN ]

Re:Using an automated day trader to generate income by kmt on Tuesday December 09, 2008 @11:11AM (#391385)

For those who use IB: How long have you been using them? Do you use their client or their API? Is it alright to use both, in parallel? People complain about their customer service; have you had any problems? Is it easy to transfer money to/from your IB account?

[ Parent | on HN ]

Re:Using an automated day trader to generate income by brianr on Monday December 08, 2008 @07:21PM (#390652)

TradeStation is $0.01 per share for equities (for the first 500 shares; $0.006 after that), $1/min per trade: http://www.tradestation.com/brokerage/commissions.shtm

[ Parent | on HN ]

Re:Using an automated day trader to generate income by steveplace on Monday December 08, 2008 @08:58PM (#390781)

If you're not going to daytrade, go with zecco.

I use thinkorswim because I'm an options guy.

[ Parent | on HN ]

Re:Using an automated day trader to generate income by fallentimes on Monday December 08, 2008 @07:05PM (#390631)

I think you can from these guys if you qualify:

http://individuals.interactivebrokers.com/en/main.php

Tradeking is $4.95 per trade.

[ Parent | on HN ]

Re:Using an automated day trader to generate income by tmitchell on Tuesday December 09, 2008 @12:30AM (#390989)

$3/trade at SogoTrade

[ Parent | on HN ]