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at least $25,000 will not pay when placing buy orders online, only to sell. The sell cost is $15. The only catch with this offer is that you can only buy the same stock once per day, or you have to pay commission each time after the first. So day traders won't go for it. But active traders holding for at least a day will find it attractive, especially those with the higher balances. Just an example of where the momentum with commissions is headed. |
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The Rush to Offer More Data |
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What is called Level I data is simply real-time quotes. A real-time quote tells you the best bid (the price you can sell at) and offer (the best price you can buy at) on any stock for sale at the given time. |
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It was not all that long ago that getting a free real-time quote was not so easy. Most quotes were delayed, which was OK if you just wanted to get an idea of where a stock stood, but good for nothing if you wanted to trade. A 15-minute-delayed quote is ancient history in the stock market. |
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To get real-time quotes, you needed to pay for a separate feed through a satellite or cable TV that could cost hundreds of dollars per month. In addition, you had to use special equipment to receive the quotes. In the last two or three years, free real-time quotes have become readily available at dozens of discount brokerage sites and other stock-related sites. |
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More elaborate research is now available at a number of stock sites. This data includes past performance charts, real-time charting, technical and fundamental analysis, analysts' reports, earnings estimates, legal filings for initial public offerings, and various other useful information to aid investors. In addition to what is available at web sites, special software packages are available from a number of day trading companies which offer everything named above plus additional esoteric data. |
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It is easy for the average online investor to become overwhelmed with the amount of sophisticated data available, especially for those not trained to interpret it. For those who are interested, this is an area that is best approached slowly and carefully, learning one topic at a time. It is not something we can expect to immediately comprehend. We need to remember that instant access to sophisticated charting and analysis in no way means instant comprehension or application of it! |
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