Bank of america online trading account good or bad

Bank of america online trading account good or badBank of America online trading account. Good or bad ?

2/22/09 2:09 PM

I am looking for cheap/free online brokerage. I am thinking of opening 25K CD with BofA and then using 30 free trades every month. This serves two purposes for me - save on broker fees and keeping liquidity.

Until now I haven't had very good experience with BoFA (closed both my accounts with them last year after paying for >200 dollars in fees, which was their fault), so I would like to see what other people have to say about their online trading system.

2/22/09 4:40 PM

I've used the BofA brokerage account since Amertrade pissed me off back in early 2006. It is pretty good and they are continually making improvements.

No Load No Transaction Fee Fidelity Mutual Funds

Can set up DRIP

Pretty good interface

30 free trades per month across all accounts (brokerage, Roth IRA, Traditional IRA, etc).

If you are an active trader can gain access to level 2 trading data and a user interface which lets you track multiple stocks/ETF's in real time as well as see various bids/asks and also a price history which I find very helpful.

Can see all of your purchases for a particular security as well as cost basis for each and date of purchase.

Can view current year taxes based on trades and dividends received.

Accurately tracks wash sales.

No annual fee to have brokerage account.

Can setup Periodic Investment Plan for mutual funds online for pretty much all funds although for some reason for about 6 months I can't do this for my fidelity mutual funds so had to mail a paper form. (Also, if you do this you can set it up to take the funds from another financial institution instead of using your core account which is a nice benefit although I don't use this.)

Good customer service hours open until 11:00pm during the week and representatives answer the phone relatively quickly and are very knowledgeable.

Research information is pretty good with S&P information for many mutual funds and I believe stocks.

Will always mail paper trade confirmation (can't suppress) even though you can view them online

Will also always mail you a paper statement unless you link this account to checking/savings account then you can stop receiving paper statements (which is what I did).

To transfer funds into the account you have to either mail a check or transfer from a BofA checking account or link an outside checking account and call to transfer funds in.

When you sell they do charge you a tax which usually amounts to less then 0.05 per trade for me so not really a big deal.

If you transfer your full account they will hit you with a transfer fee which is either $50 or $75 but not really any different then most other brokerage companies.

Cash Reserves account which is my core account is paying a terrible interest rate although not much worse then fidelity.

Charge pretty hefty fees on bonds $45 unless you purchase at least $10,000 worth then they waive the fee though their prices are still higher then Fidelity for the same bonds. (most bonds they offer though are not for sale at fidelity though so not a huge deal).

As a side note who knows whether BofA is going to continue the free online equity trades and $7 for more then 30 now that they have acquired Merrill Lynch. I know they have been making adjustments to a lot of their products but that would be my only concern. Granted Merrill didn't offer self-directed brokerage account but since BofA was a small player in the brokerage business this is why they came up with $0 online equity trades to grow their market share. Now that they are one of the largest brokerage firms around who knows whether it will continue. I will stay around though as long as they continue to offer the free trades though and don't charge any ridiculous monthly maintenance fees. I don't think they will make any changes though until at least 2010 since that is when Merrill is supposed to be integrated into BofA.

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Stocks basics how stocks trade

Stocks basics how stocks tradeStocks Basics: How Stocks Trade

Most stocks are traded on exchanges, which are places where buyers and sellers meet and decide on a price. Some exchanges are physical locations where transactions are carried out on a trading floor. You've probably seen pictures of a trading floor, in which traders are wildly throwing their arms up, waving, yelling, and signaling to each other. The other type of exchange is virtual, composed of a network of computers where trades are made electronically.

The purpose of a stock market is to facilitate the exchange of securities between buyers and sellers, reducing the risks of investing. Just imagine how difficult it would be to sell shares if you had to call around the neighborhood trying to find a buyer. Really, a stock market is nothing more than a super-sophisticated farmers' market linking buyers and sellers.

Before we go on, we should distinguish between the primary market and the secondary market. The primary market is where securities are created (by means of an IPO) while, in the secondary market, investors trade previously-issued securities without the involvement of the issuing-companies. The secondary market is what people are referring to when they talk about the stock market. It is important to understand that the trading of a company's stock does not directly involve that company.

The New York Stock Exchange

The most prestigious exchange in the world is the New York Stock Exchange (NYSE). The "Big Board" was founded over 200 years ago in 1792 with the signing of the Buttonwood Agreement by 24 New York City stockbrokers and merchants. Currently the NYSE, with stocks like General Electric, McDonald's, Citigroup, Coca-Cola, Gillette and Wal-mart, is the market of choice for the largest companies in America.

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Online Trading Academy’s Phoenix franchisee and professional trading educator, Ken Beckrich, will present “America at the Crossroads: Where are we and What Does it Mean for Your Money?” to members of the American Association of Individual Investors (AAII) and to the public on April 14, 2012 at the Franciscan Renewal Center in Scottsdale, Ariz.

America at the Crossroads” describes America’s current macroeconomic state and its likely future course. The presentation will discuss how this future will affect the wealth of both traders and investors by providing an analysis of various asset classes (stocks, real estate, bonds, futures, etc.), including the pros and cons of each over the next decade. The lecture will conclude with a special emphasis on defensive strategies for trading during tough economic times.

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Online Trading Academy’s Phoenix franchisee and professional trading educator, Ken Beckrich, will present “America at the Crossroads: Where are we and What Does it Mean for Your Money?” to members of the American Association of Individual Investors (AAII) and to the public on April 14, 2012 at the Franciscan Renewal Center in Scottsdale, Ariz.

America at the Crossroads” describes America’s current macroeconomic state and its likely future course. The presentation will discuss how this future will affect the wealth of both traders and investors by providing an analysis of various asset classes (stocks, real estate, bonds, futures, etc.), including the pros and cons of each over the next decade. The lecture will conclude with a special emphasis on defensive strategies for trading during tough economic times.

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Support and resistance how to trade with support and resistance

Support and resistance how to trade with support and resistanceSupport and Resistance. How to Trade with Support and Resistance

Support and Resistance is a powerful pillar to trading and most strategies have some type of support/resistance (S/R) analysis built into them. Support and Resistance provides the trader many clues about the market and how to trade with it. This is the first part in a multi-part series on support and resistance. Today, we are going to look at what Support and Resistance is and what its benefits are to traders.

Support and Resistance is one of the most widely followed technical analysis techniques in the financial markets. It is a simple method to analyze a chart quickly to determine 3 points of interest to a trader:

Which direction to trade the market Timing an entry in the market Establishing points to exit the market at either a profit of loss

If a trader can answer the 3 items above, then they essentially have a trading idea. Identifying levels of Support and Resistance on a chart can answer those questions for the trader.

What is Support and Resistance?

(Created using FXCMs Marketscope 2.0 charts)

As you can see on the chart above, Support is a price level below which a currency pair has difficulty going and Resistance is a price level above which a pair has difficulty going. Think of the area between support and resistance as being a room. Support is the floor and resistance is the ceiling. The pair will move between those two levels until a “breakout” occurs in one direction or the other.

In theory, support is the price level at which demand (buying power) is strong enough to prevent the price from declining further. The rationale is that, as the price gets closer and closer to support, and becomes cheaper in the process, buyers see a better deal, and are more likely to buy. Sellers become less likely to sell, since they are getting a worse deal. In that scenario, demand (buyers) will overcome supply (sellers) and that will prohibit price from falling below support.

As one might suspect, support does not always hold. When price breaks below support, that behavior indicates that the sellers have won out over the buyers. This breach of support indicates that now the trading mindset is more inclined to sell than buy. After a support level is broken, a trader can expect another level of support to be established at the next point where buyers have established themselves.

Resistance, on the other hand, is the price level at which supply (selling power) is strong enough to prevent the price from rising further. The rationale behind this is that as the price gets closer and closer to resistance, and becomes more expensive in the process, sellers are more likely to sell and buyers become less likely to buy. In that scenario, supply (sellers) will overcome demand (buyers) and that will prohibit price from going above resistance.

Like support, resistance does not always hold and a break above resistance demonstrates that the bulls (buyers) have won out over the bears (sellers). Since resistance has been broken, buyers now have an increased willingness to buy at even higher prices since price has continued to move up, and doesnt look likely to come back down. Once the former resistance level is broken, a new level of resistance will be formed at a level where sellers have taken a stand.

As a general rule, the longer the time frame of the chart, the stronger the established support and resistance levels will be. In other words, support and resistance levels reflected on a Daily chart will be stronger than those appearing on a 1-hour chart, for example.

With this basic introduction, its probably pretty easy to see how beneficial an understanding of support and resistance can be in your trading. Traders who accurately recognize strong support and resistance levels often do much better at locating trading opportunities and often have more confidence in how to manage their trades (where to place their stop loss and take profit levels).

Additional Resources

---Written by Jeremy Wagner, Lead Trading Instructor, DailyFX Education

To contact Jeremy, email jwagnerdailyfx. Follow me on Twitter at JWagnerFXTrader.

To be added to Jeremys e-mail distribution list, send an email with the subject line “Distribution List” to jwagnerdailyfx.

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Information of life

Information of lifeOnline Trading System. Dse

Posted by pipsmaster

Dhaka Stock Exchange will introduce internet-based trading system within six months to expedite stock trading.

For a fast moving market, it is needed to introduce the system, DSE president Rakibur Rahman told reporters after a meeting with the US ambassador James F Moriarty at the bourses auditorium Tuesday.

Well try to introduce the internet-based trading system by six months, he said.

Internet-based or online trading system means buying and selling stocks by giving the order though internet, usually on a brokers form. In this system, buy or sale confirmation is done by mail or e-mail.

The DSE president said the settlement period would also be reduced to one day from existing three days if commercial banks launch online money transaction from one bank to another by December in compliance of the central banks directive.

On Monday, Bangladesh Bank issued a circular that said from now onwards the subscribers would be able to pay utility bills online from their bank accounts and also transfer funds to other banks. It added that transactions between buyers and sellers can also take place online, enabling e-commerce facilities in the country.

Through the online trading system, anybody can observe the market situation on the internet and place buy and sale order through ones respective broker.

Quoting the US ambassador the DSE chief said, He appreciated the development of the Bangladesh stock market and called to enhance transparency and accountability in the market to protect the small investors interest.

Welcome to our artist trading card(atc)community forums!our focus is on friendly atc and mail art

Welcome to our artist trading card(atc)community forums!our focus is on friendly atc and mail artWelcome to our Artist Trading Card (ATC) community forums! Our focus is on friendly ATC and mail art trading and swapping in a relaxed and welcoming atmosphere. Everyone is welcome here. All mediums are welcome too--stamping, painting, drawing, collage, mixed media, fabric, clay--you name it, we do it! And we don't just trade ATCs; there is a lot going on here. This includes chunky books, inchies, rinchines, twinchies, charms, art journals, altered art, Rolodex and rolo trading, and much more. We also have a gallery and trader rating system to facilitate trading between members and keep our community growing. We hope that you will join our family of art lovers and join us in trading art!

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Low risk warrant trading in bank of america stock

Low risk warrant trading in bank of america stockLow Risk Warrant Trading in Bank of America Stock

Several readers have asked me to walk them through exactly how a percentage. or delta, hedge works in a real life example. So, here we go.

Over the next several weeks Ill be doing a percentage hedge in Bank of America (BAC) common stock and the Bank of America Class A Warrants (BACWSA). Ill be long the warrants and short either BAC common stock or call options. The terms of the Class A Warrants are: 1 warrant + $13.30 = 1 share of BAC common stock, with the warrants expiring 1/16/2019.

For those of you who arent able to trade intraday, or very often, I plan on posting both actual trades and proposed trades, or trades that can be placed via limit orders.

I will send an email out to everyone on my email list real-time when I make the actual trade. And, I will also post a weekly update each Friday with trades made that week.

I expect to do anywhere from 1-5 trades per week.

BAC is a great stock to demonstrate this strategy for a few reasons.

Its a fairly low priced stock and warrant,

It trades in a pretty stable range, and has few large movements (both good and bad for us),

It is easily shorted, and

The warrants have a decent trading volume and a tight spread.

Over the course of the next few weeks Ill talk about each of these characteristics in more detail and describe why they either help or hurt the percentage hedge trade.

The warrants currently trade at a $3.85 premium to the common, or $7.20 + $13.30 = $20.05, and $20.05 16.65 (the current price of the common) = $3.85.

Well start off with a 35% hedge (if the warrants were trading at parity our hedge would be 100%) and see how that works. We may increase or decrease that ratio as the trade progresses, but in general the percent will increase as the stock rises (well short more stock) and decrease as the stock falls (well cover our short shares).

My expectation is that well be mainly trading the stock and rarely the warrants, but well see how it plays out.

So with that, the first trade, which were executing today, February 28th, 2014, will be to pay $7.20 for 5,000 BACWSA and short 1,750 BAC at $16.65. Ill put together a running Excel sheet to track all trades.

If you want to follow along in real time, and receive the trades as they are executed, simply subscribe by entering your name and email address either in the box on the right or at the bottom of this post.