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Damir's Trading Journal
- Thread starter damir00
- Start date
Quote from OnTheEdge:
My stock commissions are $20 round trip, except for the first ten trades every quarter, when they're $26 round trip, for up to 2500 shares. Too high?
Yep.
Have you bother to even look at what other brokers are charging???
If so...is there a reason why you have not switch to a cheaper broker???
NihabaAshi
Quote from damir00:
nice reflexes, kap. this smells like news. that whole flatline bottom stank of something coming down the pike.
30 points was target @ 90's.. but hangin in for the big 9300 was just too tempting.... allout in the 80's.... completely reversed all positions to go long.. not the nice relaxing day I was looking forward to.
now the beer is calling.
$10 a trade is what I generally am paying. Where do you find a really responsive, reliable, broker for less? How much less?
Thanks!
Thanks!
Quote from NihabaAshi:
Yep.
Have you bother to even look at what other brokers are charging???
If so...is there a reason why you have not switch to a cheaper broker???
NihabaAshi
there's the rub, responsive costs. if you can live w/o responsive, a penny a share is readily available from a whole slew of brokers. self-sufficiency really pays of when it comes to transaction costs.
Quote from OnTheEdge:
$10 a trade is what I generally am paying. Where do you find a really responsive, reliable, broker for less? How much less?
Thanks!
At a penny a share a 2500 share trade costs $50 round trip. That's $30 more than I'm paying. Most of my trades were at 2000 shares lately. At a penny a share that's $40 for the round trip, twice what I'm paying. The "penny a share" commission really only pays off for small trades. Okay, today's trades were small, but they are still testing trades. If I get really into it, I would surely increase the size. To my knowledge, and it's true I haven't searched lately, I'm getting a good commission, based on my own trading pattern of larger quantity trades, and placing limit orders, not market orders.
I also tried a number of brokers I didn't like in the past, like Ameritrade, and Web Street, for two, and they weren't cheaper, either, for limit orders.
I'll try another, with a cheaper commission if I can find one, though. But the penny-a-share deal isn't cheaper for me.
I also tried a number of brokers I didn't like in the past, like Ameritrade, and Web Street, for two, and they weren't cheaper, either, for limit orders.
I'll try another, with a cheaper commission if I can find one, though. But the penny-a-share deal isn't cheaper for me.
Quote from damir00:
there's the rub, responsive costs. if you can live w/o responsive, a penny a share is readily available from a whole slew of brokers. self-sufficiency really pays of when it comes to transaction costs.
Quote from OnTheEdge:
$10 a trade is what I generally am paying. Where do you find a really responsive, reliable, broker for less? How much less?
Thanks!
OnTheEdge,
Use a search engine like Google to do your own research...
http://www.google.com
Our click on some of the links here at ET in their broker section...
http://www.elitetrader.com/br/
Call their customer services and see what their rates are and what other services that you MUST have to see if they offer such.
It would be irresponsible for me to tell you which broker you should be using when every trader knows there's more to it than just commission costs.
Good luck.
NihabaAshi
Nihaba: I've had maybe 10-15 brokerage firms over the years, and two of the ones I have now, I've kept a long time, though I periodically try others. I appreciate your saying you think there are cheaper brokers, and because you might be right, I'll poke around when I have more time. I trade a lot, so the commissions add up. Based on my last bit of research there wasn't anything actually cheaper for me, because I do trade larger quanitities, in general, most often, while not every time. For AIM trades, which are small trades, the penny-a-share trading would be a bargain. 100-300 trades per, until I decide to unload the core. That would work on average, for a penny-a-share commission broker. I'm curious now if there's anything cheaper for the larger trades, and appreciate your mentioning you believe there are. Thanks.
Quote from NihabaAshi:
OnTheEdge,
Use a search engine like Google to do your own research...
http://www.google.com
Our click on some of the links here at ET in their broker section...
http://www.elitetrader.com/br/
Call their customer services and see what their rates are and what other services that you MUST have to see if they offer such.
It would be irresponsible for me to tell you which broker you should be using when every trader knows there's more to it than just commission costs.
Good luck.
NihabaAshi