Commissions!! Commissions!! Commissions!!

macal425 · Apr 16, 2003

Would have thought that you would have found out what you were looking for by now. Or are you going to once again tell us that Andover has the best deal.

http://www.elitetrader.com/vb/showthread.php?s=&threadid=13504&perpage=6&pagenumber=1

hans130 · Apr 16, 2003

good work mcal. just wasting my time helping people.

TM_Direct · Apr 16, 2003

Quote from gimp570:

I have been making money for over 3 years now, but lately I am BARELY braking even. I do around 2 millions shares a month all NYSE. What should I be paying for commissions?? Right now I seem to be just churning the heck out of myself and a reduction in commissions could be the answer for me to get through these tough times. I am paying .006 cents a share and $20 bullets per thousand. I have read that some people are getting less than .005 cents a share, but I am having trouble finding were this is available. Any help in this matter would be greatly appreciated.

Try my firm....www.shillsecurities.com
Open an account today and you get a free toaster or am/fm hand radio!

calibertrader · Apr 16, 2003

Quote from TM_Direct:

Quote from gimp570:

I have been making money for over 3 years now, but lately I am BARELY braking even. I do around 2 millions shares a month all NYSE. What should I be paying for commissions?? Right now I seem to be just churning the heck out of myself and a reduction in commissions could be the answer for me to get through these tough times. I am paying .006 cents a share and $20 bullets per thousand. I have read that some people are getting less than .005 cents a share, but I am having trouble finding were this is available. Any help in this matter would be greatly appreciated.

Try my firm....www.shillsecurities.com
Open an account today and you get a free toaster or am/fm hand radio!

More...

Now run a poll to see how many suckers you got to click on the link.

RichSohn · Apr 16, 2003

Pigs are pretty damn fast you know!!!

Quote from TM_Direct:

If a midget and a pig had a race, who would win?

[/B]

sambatrade · Apr 17, 2003

Quote from gimp570:

I have been making money for over 3 years now, but lately I am BARELY braking even. I do around 2 millions shares a month all NYSE. What should I be paying for commissions?? Right now I seem to be just churning the heck out of myself and a reduction in commissions could be the answer for me to get through these tough times. I am paying .006 cents a share and $20 bullets per thousand. I have read that some people are getting less than .005 cents a share, but I am having trouble finding were this is available. Any help in this matter would be greatly appreciated.

Thanks

M

1) dont go through a middleman, LLC
2) try etrade, andover, genesis, other self-clearing firms and make sure you deal directly with the mgmt of the brokerage, not some stupid LLC or trading group.
3) you should get around .004 all in for listed and .015 bullets or better, with good software, support, environment, etc.

I Missed Boat · Apr 17, 2003

Quote from TM_Direct:

Quote from gimp570:

I have been making money for over 3 years now, but lately I am BARELY braking even. I do around 2 millions shares a month all NYSE. What should I be paying for commissions?? Right now I seem to be just churning the heck out of myself and a reduction in commissions could be the answer for me to get through these tough times. I am paying .006 cents a share and $20 bullets per thousand. I have read that some people are getting less than .005 cents a share, but I am having trouble finding were this is available. Any help in this matter would be greatly appreciated.

Try my firm....www.shillsecurities.com
Open an account today and you get a free toaster or am/fm hand radio!

More...

Dude, I used to trade for them. Don't believe this guy, he is just a guy from their marketing department. When I was there, they gave great commissions, ON PAPER. But whenever I tried to get a check, they gave me the run around. I am in litigation with them now, trying to get MY money out! And the owner, Mr. Shill, is the worst. He promises the world, and then suddenly your trading reports disappear in some very convenient fire!

dmtrader · Apr 18, 2003

Maybe you should quit being a trader. If you can't make it paying .006 you are not cut out for this type of work. Any trader that needs to reduce commissions to make money probably can't trade in the first place. It seems that you are trying to prolong your agony. Admit defeat and move on and stop complaining about $1 a 1000 shares you could be saving because it will not help you.

Discipline · Apr 19, 2003

Make that your only post. You will go down in history as batting 1.000! Dead on accurate even though it is not what most want to hear. To post anything else under that name will tarnish the immediate legacy you have created with this one simple post.

speedy · Apr 19, 2003

Quote from sambatrade:

deal directly with a firm. if you go through an LLC you will end up paying more because it's a middleman. Unless you form your own group, again, which again you basically DEAL DIRECT. dont go under any of the LLCs or groups if you want the best rates at the firm.

about your rates: you can get lower than .06 for your volume, .04-.05 is realistic.
your bullets: way lower, .01-.012.
firms you can find these are all posted on previous threads like 'commission bullet rates' etrade, andover, etc. that freetrade looks pretty good too.

I disagree with this - in most cases. This is why:

Dealing direct with only 2 mil shares a month brings no leverage. Going through a group who does 20-100 mil shares a month can surely help since they will have a lot more leverage even if you pay the middleman a few bucks a month.

And believe me is you ever have any problems (and you will), you will want the leverage to have the problem resolved. By yourself, you will be ignored when you need help the most.