Personal note

[spindr0]

Quote from falcon:

Can anyone tell me how I can get a better rate?

A couple of months ago IB offered a commission discount to volume traders who would use two of their trading algorithms.

They also offer an unbundled commission rate that may save you some coin, depending on the size and nature of your trading:

http://individuals.interactivebrokers.com/en/general/notifications/01-29-04.php?ib_entity=llc

 

[falcon]

thanks for the info spindr0, is tempting but have taken a liking to TOS and OX, so was hoping to secure simmilar commision. Suppose you can't have everything

 

[spindr0]

Quote from falcon:

thanks for the info spindr0, is tempting but have taken a liking to TOS and OX, so was hoping to secure simmilar commision. Suppose you can't have everything

In general, you want to be at a flat fee per trade rate if you're trading size and at a per share/contract rate if you trade smaller lots or tend to scale in/out.

My suggestion would be to analyze your trading pattern and see where you'd save the most. If one broker will save you serious coin but you like the analystics elsewhere, other than fund-ability, there's no reason why you can't have 2 accounts.

Another good reason for two accounts is that it's a horrible feeling when your broker goes down and you have open positions that need monitoring as well as a bunch of open orders. While it's not foolproof, it's a good safeguard.

 

[falcon]

Very true and I like the 2 accounts idea. Now you got me thinking maybe the second account for smaller trades that expire worthless, like protection. That way it could be an account in say my partners name that would reduce her taxable income.

 

[dagnyt]

Quote from falcon:

Very true and I like the 2 accounts idea. Now you got me thinking maybe the second account for smaller trades that expire worthless, like protection. That way it could be an account in say my partners name that would reduce her taxable income.

You may find that your insurance policies reap big dividends!

IB recommends having another account elsewhere.

Mark

 

[spindr0]

Quote from falcon:

Very true and I like the 2 accounts idea. Now you got me thinking maybe the second account for smaller trades that expire worthless, like protection. That way it could be an account in say my partners name that would reduce her taxable income.

If your partner's taxes are that high, I would recommend that she get a 2nd job so that she can afford them

 

[JohnGreen]

riskfreetrading....


We're still waiting......

 

[spindr0]

Quote from JohnGreen:

riskfreetrading....

We're still waiting......

If you're really lucky, you'll get some LIVE TREDES that were closed on Friday