Day Trading and Schwab
Written: Aug 09 '00
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Product Rating:
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Pros: can trust the trade
Cons: pricey per trade
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| sprtpilot's Full Review: Schwab |
Day trading for me has been a profitable and fun sideline for the last six months. Sideline, because I trade off and on each day around my real job which conveniently requires my being parked in front of a couple of pc's hooked up to a T-1 line.
I trade with around $300,000 at my disposal but rarely execute any single trade over half that. With the insane volatility of the market I am happy with the $10,000 per month profit I have averaged.
But enough about me and the way I support my Corvette habit, what about Schwab? Lets make this simple: Schwab good. Schwab pricey. Schwab internet trading still have few bugs. Telephone support is good unless you need help at a busy market time of day. They kept me on hold one day until after the market closed but back dated the trade as if it took place prior to close (it was a mutual so the timing wasn't critical). The web based trading functions are good (not great)but no one else has anything better. But, most importantly, the trades take place immediately and there is no doubt the status of an order.
For serious trading the Schwab setup can't be beat, for playing around you are better off using e-trade or another low cost per trade system.
Recommended:
Yes
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Epinions.com ID:
sprtpilot
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Reviews written: 19
Trusted by: 2 members
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