E-Trade just announced that next Wednesday they will be offering unlimited commission free trades (stocks and options) to “Thank” their customers for sticking with them despite the rumors of bankruptcy.
I’m wondering if I can use this to my advantage to do some bid-ask spread day trading. I thought the biggest caveat to day trading like this was that commissions usually kill all your profits. But without commissions, would I be able to trade like this with reasonable low risk? I know that I would have to have a minimum $25k in my account.
It sounds like you are trying to scalp the bid/ask, which means you will be competing with market makers with far more resources than yourself (capital, information access, & ability to manipulate).
Also, going through a retail broker (E-trade) will be slower than via a direct broker, which will probably make a significant difference with what you are trying to attempt.
You will also need a large amount of capital to make any meaningful profits.
It sounds like you are trying to scalp the bid/ask, which means you will be competing with market makers with far more resources than yourself (capital, information access, & ability to manipulate).
Also, going through a retail broker (E-trade) will be slower than via a direct broker, which will probably make a significant difference with what you are trying to attempt.
You will also need a large amount of capital to make any meaningful profits.
It sounds like you are trying to scalp the bid/ask, which means you will be competing with market makers with far more resources than yourself (capital, information access, & ability to manipulate).
Also, going through a retail broker (E-trade) will be slower than via a direct broker, which will probably make a significant difference with what you are trying to attempt.
You will also need a large amount of capital to make any meaningful profits.
It sounds like you are trying to scalp the bid/ask, which means you will be competing with market makers with far more resources than yourself (capital, information access, & ability to manipulate).
Also, going through a retail broker (E-trade) will be slower than via a direct broker, which will probably make a significant difference with what you are trying to attempt.
You will also need a large amount of capital to make any meaningful profits.
It sounds like you are trying to scalp the bid/ask, which means you will be competing with market makers with far more resources than yourself (capital, information access, & ability to manipulate).
Also, going through a retail broker (E-trade) will be slower than via a direct broker, which will probably make a significant difference with what you are trying to attempt.
You will also need a large amount of capital to make any meaningful profits.
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