I currently have Ameritrade and like their streaming charts with indicators. The problem is there streaming quotes often lock up. They also do not have trailing stops. I also use optionsXpress which I like, but I would like a different broker for my other account so that I can take advantage of some extra features. What are some of your favorite discount brokers, especially ones that are favorable to trading options in an IRA account? Thanks.
Trading indicators are best used along with money management and good risk control, using trading indicators alone will not enable you to be a successful trader, the market is just too random and unless risk is controlled over time your account will slowly get wiped out, regardless how good a “trader” you think you are.
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check out scottrade
Etrade is one that comes to mind.
You can’t beat Thinkoswim. Their platform is light years ahead of the competition.
Check out:
1. ThinkorSwim – They have a free paper trading account that gives you access to their platform, which is pretty nice; especially if you’re going to be trading options. There rates are pretty good.
2. TradeStation – It’s free if you make enough trades a month. There charting and features are incredible. Option fee are even less at 1.00 / option all in.
3. Interactive Broker is pretty good too. Not so good with the extra features, but by far the best price.
If you have time after that, check out my website for options mentoring classes: http://www.pitsavvy.com
If you use optionsXpress you can use Open E Cry (OEC Trader is the software – very active platform and a lot of bells and whistles). Not very well known software yet, but rates are low and has multi-asset capabilities (futures, fx, stocks, options, etfs, mutual funds). I believe the execution and account is with OX since their both under the same roof.