Comments on: A Critical Look at PayTrading http://www.illiteratewithdrawal.com Interesting news, sports, investing, and political commentary. Mon, 01 Dec 2008 22:14:35 +0000 http://wordpress.org/?v=2.6.2 By: Mike http://www.illiteratewithdrawal.com/stock-market/paytrading/#comment-3716 Mike Mon, 29 Jan 2007 05:43:17 +0000 http://www.illiteratewithdrawal.com/a-critical-look-at-paytrading/#comment-3716 Bernie. Would you be interested in combining sites? Bernie.

Would you be interested in combining sites?

]]> By: Slamjammer http://www.illiteratewithdrawal.com/stock-market/paytrading/#comment-3658 Slamjammer Sun, 21 Jan 2007 14:42:07 +0000 http://www.illiteratewithdrawal.com/a-critical-look-at-paytrading/#comment-3658 The site is http://slamjammer.wikispaces.com/ Don't know why it didn't copy earlier. The site is http://slamjammer.wikispaces.com/
Don’t know why it didn’t copy earlier.

]]> By: Slamjammer http://www.illiteratewithdrawal.com/stock-market/paytrading/#comment-3657 Slamjammer Sun, 21 Jan 2007 14:40:58 +0000 http://www.illiteratewithdrawal.com/a-critical-look-at-paytrading/#comment-3657 Check out my Wiki site, devoted to my Pay Trading. Just started earlier this month. I will post daily, weekly and monthly results. Real money, real trades. Check out my Wiki site, devoted to my Pay Trading.
Just started earlier this month. I will post daily, weekly and monthly results.
Real money, real trades.

]]> By: Bernie L http://www.illiteratewithdrawal.com/stock-market/paytrading/#comment-3553 Bernie L Tue, 16 Jan 2007 22:04:05 +0000 http://www.illiteratewithdrawal.com/a-critical-look-at-paytrading/#comment-3553 OK, so I finally started my PT blog as well. http://pt-trader.blogspot.com/ I will add more contents and comments soon. Hope to see u there. OK, so I finally started my PT blog as well.

http://pt-trader.blogspot.com/

I will add more contents and comments soon. Hope to see u there.

]]> By: Mike http://www.illiteratewithdrawal.com/stock-market/paytrading/#comment-2908 Mike Mon, 04 Dec 2006 15:31:46 +0000 http://www.illiteratewithdrawal.com/a-critical-look-at-paytrading/#comment-2908 I'm still getting use to the Scottrade site. More so in the way I need to get around in a hurry. The $7 is a good thing. I was trading with an older, more traditional, broker at $15 a trade. That will kill any commission on the low end of the 1-2% profit range. I'm still posting comments on the blog. Let's keep in touch. http://paytrader.blogspot.com/ I’m still getting use to the Scottrade site. More so in the way I need to get around in a hurry. The $7 is a good thing. I was trading with an older, more traditional, broker at $15 a trade. That will kill any commission on the low end of the 1-2% profit range.

I’m still posting comments on the blog. Let’s keep in touch.

http://paytrader.blogspot.com/

]]> By: Steve S http://www.illiteratewithdrawal.com/stock-market/paytrading/#comment-2842 Steve S Mon, 27 Nov 2006 00:35:18 +0000 http://www.illiteratewithdrawal.com/a-critical-look-at-paytrading/#comment-2842 Yeah, the free-ride rule puts a bit of a crimp in using the Paytrading method, in my opinion. Not so much as to kill it, but it makes it virtually impossible to follow the pristine Paytrading steps exactly. The only way around it, that I can see, is to have extra cash sitting in your account at all times, or to use margin. When I've done (modified) Paytrading long enough to feel confident in it, I might apply for margin with my Scottrade account. Mike, I like Scottrade very much. I like their web site, the way it's laid out, and the amount and type of information available. The $7 commission per trade seems quite reasonable, although I know it's not the rock-bottom lowest out there. It became more attractive when they started applying the flat $7 commission to limit orders as well as market orders. I forget what limit orders were before, but having the commission for limit orders now be the same as market orders fits well with the Paytrading system. Also, there's a Scottrade branch near me. I rarely go in there, but when I've needed to, the people have been very friendly and helpful. Yeah, the free-ride rule puts a bit of a crimp in using the Paytrading method, in my opinion. Not so much as to kill it, but it makes it virtually impossible to follow the pristine Paytrading steps exactly. The only way around it, that I can see, is to have extra cash sitting in your account at all times, or to use margin. When I’ve done (modified) Paytrading long enough to feel confident in it, I might apply for margin with my Scottrade account.

Mike, I like Scottrade very much. I like their web site, the way it’s laid out, and the amount and type of information available. The $7 commission per trade seems quite reasonable, although I know it’s not the rock-bottom lowest out there. It became more attractive when they started applying the flat $7 commission to limit orders as well as market orders. I forget what limit orders were before, but having the commission for limit orders now be the same as market orders fits well with the Paytrading system.

Also, there’s a Scottrade branch near me. I rarely go in there, but when I’ve needed to, the people have been very friendly and helpful.

]]> By: Mike http://www.illiteratewithdrawal.com/stock-market/paytrading/#comment-2822 Mike Sat, 25 Nov 2006 03:05:29 +0000 http://www.illiteratewithdrawal.com/a-critical-look-at-paytrading/#comment-2822 Steve I hate that free-ride rule. They will limit you to trading with settled funds on a cash account. I'm at Scottrade also. How do you like them? Steve

I hate that free-ride rule. They will limit you to trading with settled funds on a cash account.

I’m at Scottrade also. How do you like them?

]]> By: Mike http://www.illiteratewithdrawal.com/stock-market/paytrading/#comment-2821 Mike Sat, 25 Nov 2006 01:14:49 +0000 http://www.illiteratewithdrawal.com/a-critical-look-at-paytrading/#comment-2821 Sorry for the delay. http://paytrader.blogspot.com/ Steve, way to go! I'm a firm believer. If you do your homework, and I mean really do your homework, you can make money here. Hope you post @ my blog. Sorry for the delay.

http://paytrader.blogspot.com/

Steve, way to go! I’m a firm believer. If you do your homework, and I mean really do your homework, you can make money here.

Hope you post @ my blog.

]]> By: Steve S http://www.illiteratewithdrawal.com/stock-market/paytrading/#comment-2811 Steve S Thu, 23 Nov 2006 15:42:20 +0000 http://www.illiteratewithdrawal.com/a-critical-look-at-paytrading/#comment-2811 I started Paytrading in late August, 2006. I started with approximately $2,700 into my first trade; later I added approximately $3,000 to my account and initiated a second Paytrading "stream." Below are results so far for my closed positions. The percentage gains are *after* commissions. The relatively long holding time on some of these are due to two reasons: 1) The 3-day "free rider" rule preventing me from selling when my target is hit right away; 2) My attempt generally to realize 1.5% gain rather than 1% in order to overcome the commission bite ($14 round-trip at Scottrade) at this dollar level. CI - Bought @ 115.58 on 8/30 - Sold @ 117.70 on 9/13 - 1.22% gain MNST - Bought @ 39.68 on 9/13 - Sold @ 40.28 on 9/18 - .92% gain ORCL - Bought @ 17.9899 - Sold @ 18.28 on 10/5 - 1.09% gain FCX - Bought @ 51.82 on 10/6 - Sold @ 53.35 on 10/12 - 2.46% gain ASML - Bought @ 23.95 on 10/12 - Sold @ 24.4801 on 11/14 - 1.74% gain ERIC - Bought @ 38.95 on 11/13 - Sold @ 40.09 on 11/16 - 2.44% gain CSCO - Bought @ 26.6399 on 11/15 - Sold @ 27.0501 on 11/21 - 1.08% gain AMAT - Bought @ 17.8699 on 11/16 - Sold @ 18.2801 on 11/22 - 1.82% gain In raw dollar terms, I have netted $360.6835 (pre-tax, of course), for an average gain of 1.623%. I started Paytrading in late August, 2006. I started with approximately $2,700 into my first trade; later I added approximately $3,000 to my account and initiated a second Paytrading “stream.”

Below are results so far for my closed positions. The percentage gains are *after* commissions.

The relatively long holding time on some of these are due to two reasons: 1) The 3-day “free rider” rule preventing me from selling when my target is hit right away; 2) My attempt generally to realize 1.5% gain rather than 1% in order to overcome the commission bite ($14 round-trip at Scottrade) at this dollar level.

CI - Bought @ 115.58 on 8/30 - Sold @ 117.70 on 9/13 - 1.22% gain
MNST - Bought @ 39.68 on 9/13 - Sold @ 40.28 on 9/18 - .92% gain
ORCL - Bought @ 17.9899 - Sold @ 18.28 on 10/5 - 1.09% gain
FCX - Bought @ 51.82 on 10/6 - Sold @ 53.35 on 10/12 - 2.46% gain
ASML - Bought @ 23.95 on 10/12 - Sold @ 24.4801 on 11/14 - 1.74% gain
ERIC - Bought @ 38.95 on 11/13 - Sold @ 40.09 on 11/16 - 2.44% gain
CSCO - Bought @ 26.6399 on 11/15 - Sold @ 27.0501 on 11/21 - 1.08% gain
AMAT - Bought @ 17.8699 on 11/16 - Sold @ 18.2801 on 11/22 - 1.82% gain

In raw dollar terms, I have netted $360.6835 (pre-tax, of course), for an average gain of 1.623%.

]]> By: Bernard L http://www.illiteratewithdrawal.com/stock-market/paytrading/#comment-2729 Bernard L Sat, 18 Nov 2006 01:05:33 +0000 http://www.illiteratewithdrawal.com/a-critical-look-at-paytrading/#comment-2729 Hey Mike, can you give out the address of your Blog. I've been trading with PT since June. Hey Mike, can you give out the address of your Blog. I’ve been trading with PT since June.

]]>