- Jason Bond Picks (Member)
- Posts
- Which broker is best
Good morning,
If I was only trading small-cap momentum I think I’d go with Webull. The reason is they allow trading as early as 4 am ET.
A few weeks ago I moved my funds from Schwab to Centerpoint and while I love their feature rich platform and ability to trade as early as 4 am ET, my fees during that time were around $2,800 which ate up my profits during that time. I think these niche brokers are great for bigger accounts — my $70,000 isn’t enough. This is ideal for big account day traders, cash by close. I’ll go back when I can fund it with at least $200,000. Can’t say enough good things about this platform, I absolutely love it and see why many big money traders use it or comparable i.e. Cobra Trading.
But I also like to do spreads in $2K SAJ, so I need a good options broker too. If I was only doing options, I’d use Tastytrade. But TastyTrade doesn’t allow a lot of stock trading on small-caps, so it’s not a good fit.
Sure I could use Webull only for small-caps and Tastytrade only for options, but if I’m being honest I like to do all my trading out of one account.
So for the foreseeable future or until I test out Webull’s options trading, I plan to stay put with Schwab, it’s a very good broker for both small-caps and options. Only issue is no 4-7 am ET trading but that’s ok.
New scan in the morning, no trades for me today, my funds are clearing today and ready Wednesday morning.
Most of the day trades are in the chat room (Mission to Million) but some will come to the APP if it looks like an ‘across the day’ day trade.
Jeff Bishop is live right now in the chat room doing his Bullseye Trades.
For my swings I’m holding:
Cash
Start date was October 14, 2024 - YTD. Mission to million update = $71,000 or +$38,000 so $929,000 to go before case study complete.
I’ll be looking for more inflection point trades that are most likely to squeeze on extraordinary volume. Usually that’s oversold stocks or Fibonacci patterns. Often you will see my swing these stocks, but again, only after I’ve attempted to catch the squeeze on a day trade first. These are usually recent or active news winners so the liquidity is high.
The goal for all trades is 10-30% within the identified range and a stop loss of 10% or less. Trim and trail always starts at 5%+ and is a good way to let winners ride. Then I just need to win more than I lose and the numbers should add up.
All Fibonacci lessons and momentum stock trading education is in the dashboard under Jason Bond Picks. I recorded it a decade ago and it’s still relevant today.
Trade management tips. I start each trade as a day trade. I then decide if I want to swing it or not. But what I do not do is hold these stocks longer than a swing which is by definition 1-4 days. I bring this up because you will see me move very quickly on these stocks. If they work, great, I’m taking profit, if they do not work, that’s okay, I’ll find one that does. It’s important that members looking to trade momentum small-caps in JBP make trade plans — you know what mine is as a general framework. More on that below.
Eat. Sleep. & Trade!
Jason Bond
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