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traderj3

Good Broker for Swing Trading

By traderj3, in Swing Trading and Position Trading

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traderj3    10

traderj3
Posted

I'm looking to get into swing trading, and am starting off small ($10,000). Currently I use Fidelity but there are a couple issues which make me think there may be better solutions:

 

1) The fee is 7.95 per trade ($15.90 round trip). This eats significantly into my expected profit per trade (especially considering I'm starting out small).

 

2) When you sell a stock there is a 3 day waiting period for the trade to settle before you can use that cash. This basically means the trading opportunities are reduced by 1/3. Having to wait for 3 days doesn't seem very good.

 

I assume people Swing and even Day Trade with Fidelity, how do you get around this waiting period? Do you just have to deal with it, or are there other brokers that don't have this?

 

Any ideas and thoughts would be greatly appreciated

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