Etrade.....
I am wondering who could trade profitably with Etrade for accounts under $25K, I bought CSUN for my friend last week at $13, I added 500 more at $14, three days later, I still unable to put a sell order, crazy Etrade....
Tuesday, May 22, 2007
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3 comments:
Persuade your friend to move to zecco.com, free trades; not responsive to customer service, but it was descent. I used it for a week or so, and moved the money out due to consolidation($3000 anyway). At least u save some commission.
Yeah, I've talked to him about changing to a different broker for over a year, but it not easy for a tutle to move at all. When his account is over $25K, I'll force him to move, it is $2-3K shy from it.
I don't think the three day rule applies if you have a margin account. If his account is a cash only account, maybe he should just switch it to margin trading - doesn't mean he has to use the margin, it just makes trading easier - and safer. Say you buy a stock and the next day it plunges 25%. You want to get out but can't because you don't want to be put on the 90 day restriction, so you don't sell and then it moves even lower. In the long run you could be saving him from losing a lot of money.
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