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They say that about nearly any expensive. Sometimes it is true.

stochastix said: by large i mean, 0.5% or so, not a penny or something like that, even though that would still be a lot Exactly, Wall Street always tries to claw back anything that gives the public a level field.

Eliminate the word large.

The title of this thread implies that a small percentage FTT is acceptable to day traders, As my example above shows large or small percentage FTT will bankrupt day traders.

RE: my previous post - ftt and disappearing day traders https://www.elitetrader.com/et/threads/the-financial-transaction-tax-and-disappearing-day-traders.340600/ zdreg k account ftt of 1/10 of 1 percent or.001. 4to1 intraday margin 4 to1 turnover 400k/day tax cost $400/day annual cost 100k At...

I misinterpreted your comment.

"by large i mean, 0.5% or so, not a penny or something like that, even though that would still be a lot" If you make a statement like this you are a typical retail trader. .5% is smaller than a penny.

It is meaningless for the typical retail trader

It is good to under promise and to over deliver.My guess is you will meet your deadline ahead of time.

There are no buyers in your scenario looking to pick up bargains, Your understanding of how market works approaches your number from above o.oo.

It's not going to the hoi polloi. ( (noun DEROGATORY the masses; the common people.) It going to the pockets of members of the Congress of the US,

Don't be overly clever. https://www.businessinsider.com/robinhood-trading-downtime-outage-second-day-backlash-2020-3 .

Link?

As Groucho Marx, the comedian and great commentor on life, once said I don't want to be a member of any club that would have me as a member. Take it too heart. It is true in so many areas of life.

re: phone call It is worthless if you are put 20 minutes on telephone hold.

Yes, Yes! Lie to me once shame on you. Lie to me twice shame on me.

What do you have against urban myths?:)

One method would be to compare Robin Hood to the price action of publicly traded brokers. That would be a reality check.

Hedge funds had a great run. 2% +20 fees was one of the longest lasting scams of all times. Payment for mediocre performance is foolishness. People with inflated egos thought they were members of an exclusive club when the hedge fund accepted their money. Is the hedge fund industry in current...

It is not surprising Cooperman's call for resumption of the uptick rule. His friends on Wall Street, market makers etc. who were exempt from the uptick rule, always hated the idea that eliminating the uptick rule created a more level field for the retail trader.