<p>Those who are still trading this volatile market, are you taking advantage of the opportunities abound ?</p>
<p>Stocks and indexes you used to have to grow over-time now suddenly pops and fizzes in a single day. You can profit either long or short or both ways. How has it been for you if you are still trading this market ?</p>
<p>Personally, I was dumb-founded and been idled much of last months. But I was making observations and trying to figure out a way to trade this market. I went back recently to test the water again, and it wasn’t bad. Remember you used to have to wait months, quarters for stock,indexes to become profittable now takes 1 day ! Anyone care to expound on this thought and share ?</p>
<p>I too thought it’s a great time to trade, up 500 points in one day and down 500 points the following day. If I were to trade, I need to keep a close eye on it. Right now, I don’t have time so maybe when I retire.</p>
<p>I’m normally an active trader with a screen with 60 RT charts so I can see the whole market but childcare responsibilities have me in and out too much to be able to watch as closely as I would like to. That coupled with project leader responsibilities where I can wind up in impromptu meetings for long periods of time has me not daytrading.</p>
<p>Many friends are having a blast in this market though. Some of them are retired which makes it a lot easier to watch.</p>
<p>With the right strategy I am hoping I won’t have to watch closely. Just periodically throughout the day. Management meetings suck big time. I always seem to get drawn into meetings that begins at 9:30am, on the most opportunistic days at market open. Does that describe your situation, anyone ?</p>
<p>One thing about this market, even good companies get taken down. I am leaning on trading the indexes, including ETF indexes.</p>
<p>You could do well with just the QLDs and QIDs. Always good to take some time to get the feel of an ETF intraday. That takes watching it for a while.</p>
<p>Its nice to say that market volatility can lead to outsized gains. An individual I know lost 4 million of his 8 million with the financial planner he is using. He gave the planner the go ahead to actively “day” trade his account. He wants the 4 million back plus 3 million for taxes. In two days of trading, the planner got back 1.5 million using ultra long and ultra short etfs. He’s betting the whole amount each time. So far he’s been lucky - this is gambling and not of the professional kind. This was as of last Tuesday. I haven’t heard what’s happened since, but I’ll wager that sooner or later he loses it all.</p>
<p>“One thing about this market, even good companies get taken down. I am leaning on trading the indexes, including ETF indexes.” How are you going to protect yourself on the downside??</p>
<p>I’m dusting my options strategy book from the garage. I need to open an account before I can trade. Is TDameritrade a good brokerage for online trading services?</p>
<p>“Its nice to say that market volatility can lead to outsized gains. An individual I know lost 4 million of his 8 million with the financial planner he is using. He gave the planner the go ahead to actively “day” trade his account.”</p>
<p>Nice financial planner. That financial planner needs to be fired, now.</p>
<p>The guy needs to take his money, and buy treasuries or put it in a money market fund. </p>
<p>Then he needs a psychologist.</p>
<p>He is going to lose it all.</p>
<p>Never give somebody else permission to trade your account unless you don’t want the money.</p>
<p>I have accounts at Fidelity, Ameritrade and Etrade. I like the Etrade platform the most but only have a token account there as I’m worried that they’re going to go bankrupt. They’re applying for TARP funds and I hope that they get them. Fidelity’s platform isn’t that good. I don’t do a lot of trading at Ameritrade as it’s holds my wife’s account.</p>
<p>Many friends swear by Interactive Brokers.</p>
<p>There are all kinds of tradeoffs. Fidelity is better at Mutual Funds and worse at stocks. No big surprise there - they’re a mutual fund company.</p>
<p>Etrade has the best reporting. Sometimes handy when you’re doing your taxes or reviewing a trade. I found that Etrade has better execution too.</p>
<p>Fidelity has problems in heavy trading. There was a morning a few months ago where I wasn’t able to take $5K profits because their trading platform was down for 45 minutes one morning. Trying to get a broker on the phone was totally useless.</p>
<p>Many people use someone else to trade their money so that they can have someone to blame. Hopefully this guy doesn’t get paid in trading commissions. I always have problems with this kind of arrangement. There’s nobody (well hardly nobody) that I’d trust to have my best interests in mind.</p>
<p>I had my account at Fidelity and their mutual fund fees were too expensive, so I moved my account to Vanguard. However, I don’t want to trade in that account. I want a small account so I can limit my loss. I personally would not trust anybody to trade for me, I rather make my own mistakes and learn from it.</p>
<p>Have not checked out Interactive Brokers. Do they offer option trades ? How about Future or currency trades? About downside risk, one is not limited to one side. Proshares ultra ETFs esp. SKF has been huge. But there’s new ETF’s in town from Direxion that offers 3x leverage.</p>
<p>Fidelity has excellent brokerage service. Fee’s are good too. $8 no matter what size of trade. I once swung a >$100k trade still $8. Is that same for other broker?</p>