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(As we are updating our website, Dr. Cure! will answer all submissions.
So for those nagging problems, just send him an email and ask him about those
day trading or swing trading headaches!) Nov 12, 2007
Dear Doctor,
How safe are online brokers to the average day trader?
Joe
Dear Joe,
The large ones that are listed on the NYSE or Nasdaq are basically sound.
TD AMERITRADE is a subsidiary of TD Bank, TradeStation Group, Interactive
Brokers, E*Trade, etc., are all easy to monitor as they are require to file
quarterly and annual financial statements as well as all "material news"
such as E*Trade's November 9, 2007 release that, "it expects to record
further write-downs on its $3 billion in mortgage-backed securities holdings
in the fourth quarter."
They also have government guarantees to individual traders as they are members
of FDIC, (bank deposits insured to at least $100,000), FINRA, (www.finra.org),
and/or SIPC, (securities protected up to $500,000; www.sipc.org), etc.
The latter two are regulated by the US Securities and Exchange Commission, (SEC),
and the Commodity Futures Trading Commission
Dr. Cure
We have to use actual market
quotations to illustrate exactly what we are doing and why we are doing it. Otherwise, the
diaries and its entries of daytrader1.com will be misleading and not educational. The
spirit of this website is to teach the market daytrader how to trade successfully by using
real-time quotes and any attempt to duplicate these trades is not a guarantee to make
money. These trades are our teaching "tools" and at the end, are only examples.
Copying these trades are in fact beyond our control and we are not responsible for any
trading losses borne out from this type of action. We do not give investment advice on
this website but only attempt to show you some of what we trade and how we trade it. Treat
this website as reading a professional trader's trading journals or "diaries".
Past performance is not indicative of future profits nor are our opinions guaranteed to be
successful. We do not make markets in the stocks that we illustrate and we may buy and
sell any stock at any prices regardless of our commentaries. And due to unforeseen web or network related technical problems, we can be
down for an indefinite amount of time without any prior notice.
Our workshop course offered here is solely intended for educational purposes only
and in no way should it be interpreted as a "sure" way to make money. It will be to
show what trading methods we actually use to set target prices for most of our trades.
Please be aware that trading is risky and not a guaranteed way to make money. We reserve the right to cancel any subscription and/or withhold our email service
towards people reselling our information, copying parts of our site and claiming that
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trade our own funds in real-time trading. Again, we do advise against copying our
daily trade examples as it is not a guarantee to make money.
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