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I am fairly new to trading. Recently I watched some videos after joining Robinhood and I realized that Robinhood is fairly limited.

I am looking for a broker company and software that allows me to do the following:

  • Buy a stock
  • Automatically set a stop loss price
  • Automatically set a profit sell price
  • No buy fee
  • No sell fee

I am willing to pay small fee, if free is not available. Also if limit sell for free is available I will accept that too.

I found Ninjatrader does the automatic stop loss and sell, but it seems I cannot use it with Robinhood. This is why I need help because I cannot find a good mix of broker with a tool.

I plan to do very little day trading of stocks with scalping. I plan to buy and sell pretty quickly. I don't expect to become rich, hence why I need something affordable or free. Please help me.

I don't plan to trade options (if that helps)

J_Strauton
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1 Answers1

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AFAIC, is a Mickey Mouse operation. Here are the reasons why.

Most of the major discount brokers no longer charge commissions (Ally, E*Trade, Interactive Brokers Lite, Merrill Edge, Schwab, TD Ameritrade, Vanguard). However, some charge fees, for example 65 cents per option trade which is tantamount to a commission. All brokers pass through the small SEC fee when you sell a position.

The exchanges support buy and sell stop, limit and stop orders. Some brokers offer many more types of algorithmic orders.

Each broker offers varying degrees of other services (charting, research, etc) so the best choices depends on your needs.

Bob Baerker
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