Market Orders, Limit Orders, Ticket Charges

D

dedicated1

I have this problem getting a straight answer about:

1- If I get price improvement on a limit order I am charged multiple tickets for every differnt price. I thought 1 order, 1 ticket.

2- Market Orders are the same...a ticket charge for each different price I'm filled at.

I trade about 200K per month on average but I want to scalp when scalping is called for(500K-1M+/mo). I can't see myself scalping when I am on a ticket charge basis....would only make sense if I was on a cent/share basis.

Wouldn't it be AWESOME to be on a cent/share basis where that's all you need to figure your costs. No ECN this or yadda yadda that.

I know it varies from broker to broker but I feel like I'm getting chiseled. Any thoughts on this would be greatly appreciated. I know you all probably been through this.

Please reply if you have any idea what I am talking about.

Regards
 
Get a broker that doesn't have ticket charge. Tickets are rediculous anyways, I've yet to see a ticket deal that was favorable.

As for ECNs, get a broker that charges and rebates ECN fees at the wholesale rates (not marked up). Getting rebates allows you to gain control over trading costs to the point where you can essentially reduce your commissions to ZERO!

MACD
 
Originally posted by dedicated1
I have this problem getting a straight answer about:

I trade about 200K per month ... I feel like I'm getting chiseled.
More...

You are.
 
1- If I get price improvement on a limit order I am charged multiple tickets for every differnt price. I thought 1 order, 1 ticket.


Who are you using that charges multiple tickets? I've never heard of any brokerage that does that. I'm using IB and it's cheap and fast as hell , really can't beat it.
 
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