9/12/2023 1 Comment Lightspeed trader demoIf your commission bill exceeds 130, you don't have to pay for the platform fee at all. Your monthly commission bill will be subtracted form the 130 a month platform fee (130 - whatever your commissions were) and that's how much you'll pay for the net platform fee each month. This is all just my opinion, but I figured that people who were thinking about hopping brokers could learn a thing of two from my experience. You should consider switching ONLY if order execution has been an issue for you (I would've also added chart speed to that but it's been a lot better recently on ToS). I only use lightspeed to fill orders and look at charts when needed - ToS does everything else, well, better. If you don't need that level of speed, ToS is perfectly good. That fee will pay for itself many times over in the long run - those slightly better fills will add up, and fast (assuming you're a good trader of course). Is lightspeed worth the $130 a month? If you need serious speed, it most definitely is. I still use ToS all the time: for live charts (as I mentioned earlier), for all sorts of stock scanning, and for OnDemand (idk where I would be without OnDemand - I use it all the time for many different things). ToS is amazing, but the slower and slower fills started to push me away. In conclusion, the switch is difficult to get used to at first, but I think the move (for my situation) will definitely be worth it in the long run. Thus, whenever a stock is moving quick, I'll have the Lightspeed chart also display the stock I'm interested in (along with the ToS chart) so I can buy with a better idea of the exact fill price I'll get. On the other hand, the Lightspeed chart almost perfectly lines up with the actual lightspeed quotes, even with fast-moving stocks. But why not just use 2 ToS charts? Unfortunately, when a stock is moving quickly and/or has a lot of volume, thinkorswim's chart data lags slightly behind lightspeed's quote data - causing slightly unintended fills (typically in the wrong direction in my experience). I will use the ToS chart as my primary chart, but the lightspeed chart comes into play if I'm interested in multiple stocks at open AND/OR when there are fast-moving stocks (I will explain this is in a second). I have one chart up from ToS and one chart up from lightspeed. Additionally, getting used to new charts is quite a challenge - I am so used to trading with the ToS charts to a point where anything else is somewhat difficult to use in the morning.ĭue to the above reason, I have found that using a hybrid is the best way to trade thus far. You have to know a thing or 2 about trading in order to understand what's going on in the Lightspeed platform. Moving on to the platform itself, well, ToS is way easier. Compared to recent TDAmeritrade/ToS fills, it is on a whole other level. They are pretty much instant in my experience so far. I have never experienced faster execution in my life with Lightspeed Trading. I am a morning penny stock trader, so I need extremely quick fills. After attempting to fund my account for literally 1 month (lightspeed only accepts wire transfers for new account funding - make sure your bank allows wires to third party accounts :p ), I was finally ready to click some buttons for money. Coming out of the August extravaganza, it was just too slow in the morning, so I reached out to Lightspeed Trading, my new choice of broker after a quite a bit of research. I have switched brokers to Lightspeed, and I must say, getting used to a new platform and feel is considerably harder than one might think - especially after nearly 3 years of using ToS (in my case).
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9/19/2023 09:09:43 am
You can also put a chatbox on your blog for more interactivity among readers.;~~.`
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