Friday, May 13, 2011

Picking an Online Broker

When you are starting out there is very strong pull to signup with a broker and open an account. Its important topic to cover when starting out...

EDIT: At the time this blog entry was posted I had a Youtube video here. That has been removed but I want the rest of my content to be remain. Nothing hidden no past mistakes ignored. All out in the open.

I can recall first starting out. The main thing I worried about was commissions. There are so many more things to consider when determining which broker you want to go with.

For my model portfolio I am going with ThinkorSwim. I'm really impressed with their software. It's a steep learning curve at first but its capabilities are powerful. And with the model portfolio it is going to be several months at the bare minimum before we do any live trades with real money. That is plenty of time for us to develop a trading system or two and test them.

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