Just because your paying high commissions doesn't mean you're making a lot. One could be paying 22k in comm out of 24k gross profit.
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How much do you pay in monthly commissions?
- Thread starter Cutten
- Start date
Just because your paying high commissions doesn't mean you're making a lot. One could be paying 22k in comm out of 24k gross profit.
Quote from Scalper007:
Just because your paying high commissions doesn't mean you're making a lot. One could be paying 22k in comm out of 24k gross profit.
Hmm.. Risking that much to make this little profit. No wonder, I rather be a Swing Trader then a Scalper. What's the point of trading that many stocks to gain $2K profit. Huge Risk for tiny profit.
You threw the question for tradewiz50, which has yet to be answered, but are quick to jump to a conclusion based on rather personal opinion given by Scalper007?!Quote from choud2403:
Hmm.. Risking that much to make this little profit. No wonder, I rather be a Swing Trader then a Scalper. What's the point of trading that many stocks to gain $2K profit. Huge Risk for tiny profit.
Quote from saliva:
You threw the question for tradewiz50, which has yet to be answered, but are quick to jump to a conclusion based on rather personal opinion given by Scalper007?!
Yes, you r right Saliva.
$22K commission and fees for a month is not a joke.
We are talking about $264,000 commission & fees yearly to get $24K net profit.
LOL.
No wonder 90% of the trader fail in Trading. Greed.
I pay 0.00015 commision to my firm which is usually around $2k a month. I generally have another $18k+ in fees as well. My fees are extremely high because I make a lot of small trades every day, and punching in and out a lot = high fees. Overall, I pay in fees about as much or more than I make (ie..if I take home 15k I have another 20k at least in fees - plus my office makes another 10k.) That is due to my trading style and the strategy I use, but it doesn't mean it is high risk. If I am not making money, it is usually because I can't find much to play and therefore my fees go down too.
The way I see it, it takes money to make money. I'm happy to pay the fees to make the money. I do try to keep them as low as possible, but trading is expensive (especially scalping). Making a lot of little trades while I look for the bigger set-ups, keeps me from rarely sticking my neck out too far on one trade, and those little trades add up fast and are easier to get out of or hold offside when everything goes pear shaped.
The way I see it, it takes money to make money. I'm happy to pay the fees to make the money. I do try to keep them as low as possible, but trading is expensive (especially scalping). Making a lot of little trades while I look for the bigger set-ups, keeps me from rarely sticking my neck out too far on one trade, and those little trades add up fast and are easier to get out of or hold offside when everything goes pear shaped.
Quote from choud2403:
Yes, you r right Saliva.
$22K commission and fees for a month is not a joke.
We are talking about $264,000 commission & fees yearly to get $24K net profit.
LOL.
No wonder 90% of the trader fail in Trading. Greed.
A lot of traders are paying high fees like this every month, but if you are only taking home $24k net on gross $264k there is definitely something wrong with the deal you are getting or you need a new strategy.
Quote from nic05:
A lot of traders are paying high fees like this every month, but if you are only taking home $24k net on gross $264k there is definitely something wrong with the deal you are getting or you need a new strategy.
Not too different from many businesses; 5-10% -net- margin.
Not a terrific model to emulate for a trading business, but acceptable.
I average over 2K per day. I know who consistently grinds out over 20k on a daily basis. On what basis are you judging that I make only $2,000 a month? There's no merit to your empty rhetoric. Well, unless this is your own personal testimony.Quote from choud2403:
Yes, you r right Saliva.
$22K commission and fees for a month is not a joke.
We are talking about $264,000 commission & fees yearly to get $24K net profit.
LOL.
No wonder 90% of the trader fail in Trading. Greed.