fees increased close to 5x apr 1.
no commotion. don't care either way... just going off what you posted.
assuming that's rgt, then... doesn't seem to include current sec fees.
How Much Are Your Costs Per Share
- Thread starter dve250
- Start date
no commotion. don't care either way... just going off what you posted.
assuming that's rgt, then... doesn't seem to include current sec fees.
wow, i skimmed and didn't realize... their actually is a commotion. so, fwiw, i think he's being honest about his costs. i know more than a few high volume tgt margin guys with setups like that. of course, all canucks. not a common setup outside title/swift.
Wow.
All I did was take my PNL report, add commissions+fees+profit going to b/d and divide by volume. And I gave you the results. I am not asking for anything from you, so why in Gretzky's name would you come out to me like this ?
I don't have to share any of this with you, I am doing it for the sake of the thread. You don't have to say thanks, but going the exact opposite way and calling me a liar ? That's exageration in just about every dictionary I can think of.
While that may be true, we went out of our way to create a firm that would give us the cost-advantage of the title/swift model while retaining much more of our hard-traded dollars.
It's not rocket science of course. None of us are extraordinary geniuses. We just did our homework and did what had to be done to keep the most money to ourselves. And while I'm discussing dictionaries, "logical" comes to mind
Since I looked at Jan 1 to Apr 30, then the only period where the new fees are accounted for is Apr 1 - Apr 30. You make a valid point, I didn't even think about it when I first mentionned.
Let me check how it works out for April only, since the new SEC rate was established.
I'm being very fair game here, I will disclose the numbers in my calculations.
---
PERIOD APRIL 1 TO APRIL 30 2009
SEC fees, NSCC Fees, TAF, ACT charges were 1,452.13 on 9,794,632 shares.
Commissions : 1,958.93 (0.20 per 1000 shares)
Profit split : 3952
Total : 7363.06 / 9,794,632 = 0.0007517
I don't think I can go any farther in my explanations.
yea, i kind of had a feeling you might primarily trade lower priced stocks, so sec doesn't even make that much of a difference. pretty amazing.
for comparison this month, i've done about 4M and have paid over 2.1k in reg fees alone. about 5x as much on a share adjusted basis.
for comparison this month, i've done about 4M and have paid over 2.1k in reg fees alone. about 5x as much on a share adjusted basis.
That is a pretty big difference. I did not like the SEC rate hike, so you must've HATED it ;p
Yes, I think most stocks that I trade are in the 1-30$ range, with very few being over that bracket.
None of your posts in this thread make any sense...
And are not helpful.
At 10 million shares/month...
IB would charge you $0.0017 PLUS all fees...
So a typical trader would be paying about $0.0027-0.0028/share...
Based on the way SMART routes orders.
That's pretty much the low water mark for retail...
So your CONVOLUTED claim you are paying 1/3 of that...
In any kind of conventional arrangement...
Only serves to stroke your ego.
I'll bet also your have a mortgage that pays YOU interest.
The error in your assumption is that you think he's a retail trader. He obviously isn't. In case you haven't figured it out he's a Canadian prop trader with a profit split. He's already shown that in his numbers, he was extremely up front about it.
And one other observation: If he were a better trader (no offense Karl), his total rate (as he calculates it) would be higher because he'd be paying more money back to his firm as part of his profit split. And if he were a worse trader his commission would be lower!