You do the math. Correct me if I'm wrong. Soes executions are .003/share. If your all in is .0035/share, where's the profit margin when you factor in clearing and overhead?? There are ecns that actually charge more if you take liquidity than you're charged! You explain that. Or will you come back and attack us?
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Commissions!! Commissions!! Commissions!!
- Thread starter gimp570
- Start date
You do the math. Correct me if I'm wrong. Soes executions are .003/share. If your all in is .0035/share, where's the profit margin when you factor in clearing and overhead?? There are ecns that actually charge more if you take liquidity than you're charged! You explain that. Or will you come back and attack us?
I must agree with Samba,
In every business in this entire world you calculate your profits same way, the least your total cost are the more you keep as profit.
Some people are saying that if you can't make money trading you are not going to make it with lower commission either, that is not completely truth, for example if last month you made $9000 and traded 2 million shares and you got your per share price lower from .006 to .005 you made an extra $2000 this is a little more then 20% increase, not bad for calling around and trying to get your cost lower specially not if it is possible.
Also if you want to get trading cost down then this is the best moment in time to do it, there is nothing wrong with trying to get your trading cost down.
The owners of the firms must be doing the same thing from their end and we as traders have to do it from our end, again nothing wrong with that.
In every business in this entire world you calculate your profits same way, the least your total cost are the more you keep as profit.
Some people are saying that if you can't make money trading you are not going to make it with lower commission either, that is not completely truth, for example if last month you made $9000 and traded 2 million shares and you got your per share price lower from .006 to .005 you made an extra $2000 this is a little more then 20% increase, not bad for calling around and trying to get your cost lower specially not if it is possible.
Also if you want to get trading cost down then this is the best moment in time to do it, there is nothing wrong with trying to get your trading cost down.
The owners of the firms must be doing the same thing from their end and we as traders have to do it from our end, again nothing wrong with that.
Quote from speedy:
You do the math. Correct me if I'm wrong. Soes executions are .003/share. If your all in is .0035/share, where's the profit margin when you factor in clearing and overhead?? There are ecns that actually charge more if you take liquidity than you're charged! You explain that. Or will you come back and attack us?
if you read my earlier reply, i said LISTED. for nasdaq, you can get .002 base with passthrough ecns at cost
thanks wercurna,
i really think that all these people arguing against this simple logic are people with vested interests in keeping commission rates high: owners of firms, partners of llcs etc. it's the same old line: "we're not making anything off you" "don't focus on your costs, try to trade differently" etc etc
Quote from sambatrade:
if you read my earlier reply, i said LISTED. for nasdaq, you can get .002 base with passthrough ecns at cost
thanks wercurna,
i really think that all these people arguing against this simple logic are people with vested interests in keeping commission rates high: owners of firms, partners of llcs etc. it's the same old line: "we're not making anything off you" "don't focus on your costs, try to trade differently" etc etc
What earlier reply? This is all you said, no?:
me:
3-5mm month
.0035 all in
.0125 bullets
good software, tech nearby, bloomberg, sipc.
Quote from wercurna:
I must agree with Samba,
In every business in this entire world you calculate your profits same way, the least your total cost are the more you keep as profit.
Some people are saying that if you can't make money trading you are not going to make it with lower commission either, that is not completely truth, for example if last month you made $9000 and traded 2 million shares and you got your per share price lower from .006 to .005 you made an extra $2000 this is a little more then 20% increase, not bad for calling around and trying to get your cost lower specially not if it is possible.
Also if you want to get trading cost down then this is the best moment in time to do it, there is nothing wrong with trying to get your trading cost down.
The owners of the firms must be doing the same thing from their end and we as traders have to do it from our end, again nothing wrong with that.
Whoever said that getting a lower commission doesn't help has no clue. How can you argue that??
Would you care to compare actual daily P&L? In the end it is not what you saved...IT IS WHAT YOU MAKE! I will be more than happy to compare results with you on a DAILY basis! Are you up for the challenge? Let's see who makes more money, you with your .0035 rate, or me with my slightly higher rate.
I use $20 MILLION in the First 15 minutes of the trading day....and you think that you as a retail PIKER can compete with your buying power! I Doubt it! In fact I doubt that you have any more than $400,000 in buying power.
This is a game that is about results. The nice thing about it is that it is really easy to keep score. So tell me SAMBABOY , What are your trading results? Do you have any worthy of posting? Or are you just talking smack under the cover of an ALIAS.
Perhaps you should take 100 level college finance course, or better yet, spend some time reviewing all of those books you have for your licensing exams. Specifically, review the TVM. And for your econ lesson....study OPPORTUNITY COSTS. While were at it, some spelling and grammer lessons wouldn't hurt. And if this seems a little overwhelming for you, I will be more than happy to provide some resources and a daily study plan to get you on the way to financial literacy.
I use $20 MILLION in the First 15 minutes of the trading day....and you think that you as a retail PIKER can compete with your buying power! I Doubt it! In fact I doubt that you have any more than $400,000 in buying power.
This is a game that is about results. The nice thing about it is that it is really easy to keep score. So tell me SAMBABOY , What are your trading results? Do you have any worthy of posting? Or are you just talking smack under the cover of an ALIAS.
Perhaps you should take 100 level college finance course, or better yet, spend some time reviewing all of those books you have for your licensing exams. Specifically, review the TVM. And for your econ lesson....study OPPORTUNITY COSTS. While were at it, some spelling and grammer lessons wouldn't hurt. And if this seems a little overwhelming for you, I will be more than happy to provide some resources and a daily study plan to get you on the way to financial literacy.
Quote from mschey:
As far as bloomberg goes, who has time to read the news and watch for headlines in the middle of the trading day? The tape tells all. I might get caught in the intitial move in the stock, but a quick read of the tape, and quick thinking and reaction on my part and I will on my way out of trouble in a matter of seconds, all the while you are still checking the news and reading the story. Bloomberg is way overrated as a trading tool.
You are so way off on this one. The TE trade today paid for the terminal this month and some. Never would have had without the Bloomberg. Did you get the news in time ????
Unless you have used one...... you have no idea the power of the bloomberg. And if you don't have time to read it... get a group together, share the costs and hire someone to read out the news for you.
Banker
Yes I did get the TE trade today, and NO I don't have bloomberg.
I just find that with all of the trades I am managing, along with the different strategies I am running, I don't have time to watch the headlines. I subscribe to briefing and realmoneypro, and both of these services seem to give enough heads up to make money. In fact, I make capturing moves related to stories on these sights a part of my daily trading plan. You have to realize that I am using 4 computers with ten monitors to manage my trades, and this keeps me pretty busy. Watching headlines is not something that will easily fit into my plan. But I am flexible and am willing to try just about anything to make money trading.
Thanks for the honest heads up on this.
I just find that with all of the trades I am managing, along with the different strategies I am running, I don't have time to watch the headlines. I subscribe to briefing and realmoneypro, and both of these services seem to give enough heads up to make money. In fact, I make capturing moves related to stories on these sights a part of my daily trading plan. You have to realize that I am using 4 computers with ten monitors to manage my trades, and this keeps me pretty busy. Watching headlines is not something that will easily fit into my plan. But I am flexible and am willing to try just about anything to make money trading.
Thanks for the honest heads up on this.
Quote from speedy:
What earlier reply? This is all you said, no?:
me:
3-5mm month
.0035 all in
.0125 bullets
good software, tech nearby, bloomberg, sipc.
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Quote from sambatrade:
the rates are for listed you moron... you dipshit
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