Well I trade mainly nyse stocks. .004 for nyse and if they route the shit out then its an additional .003...Occassionally I trade nasdaq and end up paying .0065 because I take liquidity often...Again, so much ridiculous fees...I need an all in rate and no sec fees...I'm going hunting.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an alternative browser.
You should upgrade or use an alternative browser.
Pissed
- Thread starter Scalper007
- Start date
Well I trade mainly nyse stocks. .004 for nyse and if they route the shit out then its an additional .003...Occassionally I trade nasdaq and end up paying .0065 because I take liquidity often...Again, so much ridiculous fees...I need an all in rate and no sec fees...I'm going hunting.
Quote from musclemoney:
Averaging $500/day Mon-Fri, you shouldn't have to accept a paper route job, unless you want the exercise.
How much capital are you trading with? How much leverage?
Hi Musclemoney,
Capital 10k, leverage 20:1.
Edit: well yea, if it was at least 400, then ok. But on most days I'm getting grinded down to 300 after fees...But still, u r right, because the paper route job comes out to less than $20 a day..And I don't need the workout...lol...u guys on ET are very funny. I always get a good laugh here after a tough trading day.
Edit: See u all later. Heading to bed...
Quote from Scalper007:
Hi Musclemoney,
Capital 10k, leverage 20:1.
Edit: well yea, if it was at least 400, then ok. But on most days I'm getting grinded down to 300 after fees...But still, u r right, because the paper route job comes out to less than $20 a day..And I don't need the workout...lol...u guys on ET are very funny. I always get a good laugh here after a tough trading day.
Edit: See u all later. Heading to bed...
My thought is .. would you consider something else besides of scalping? The reason is.. the cost of the volume you trade everyday is big enough to consume more than 1/3 of your profits. But wihtout the volume you won't be able to generate the profit level at all.
My guess is you must be young, responsive and very smart, like most of the typical scalpers I know.
Well, I am old and slow enough to give up the idea of scalping totally. My eyes hurt if I stare at the flashing screens for too long.
Instead, I use simple setups for day trades. Typically I do only 2-4 ( no more than 5) trades a day. And I usually make more than $500 on the days I trade ( Oh, for sure I have down days too) . I don't trade everyday and I don't trade with big capital for my own account .. well I don't need to, to be honest. Trading life could be much easier without scalping.
Well, as I said.. this is just a thought...
G/L
I use no leverage except in rare circumstances which is why I am able to weather downturns and volatility.
Quote from Shreddog:
1 ES = $12.50 spread + $2.40 commish = $14.90
500 SPY = $5 spread, $2.50 commish = $7.50 + SEC fees, call it $8
At 3 round turns per day I'm saving $42/day or $10,500/year.
Where's the advantage with futures?
I don't trade the ES much except for when I see big move setups. The advantage in ES is basically leverage compared to the SPY for a retail trader. I don't know what you'd get from a prop firm. I wouldn't be where I'm at now if it wasn't for the leverage I got from trading futures.
Now for liquidity and volatility, I usually trade the ER2, oil, gasoline, and gold. I don't have much patience waiting for the ES to grind all day long for a few points.
Not to take anything away from stocks since I trade it everyday, too.
my thoughts are that this guy has made 300 in a day a few times and now he feels like he can say he makes that much everyday. quit bitching about the fees and make some trades. if you are consistently making 300/day then it's not that hard to step it up a little from there if you do some analysis of your trading.
bottom line.....i don't believe this guy.
bottom line.....i don't believe this guy.
Are you going to let this clown who won't pay you off the hook? He's telling you he needs your SS card to pay you, but didn't need to see it to hire you in the first place? Get a duplicate card.Quote from Scalper007:
And the funny part: I quit after 2 days and the guy wont pay me!!!!!!! Why? Because I dont have my ss card. I lost it. Born and raised right in nyc and suddenly I am placed among the ranks of illegal immigrants.
You have obviously never owned a physical business... try paying rent and utilities on the location, and the pay role for the employeeâs and all the workers comp / unemployment / liability insurance for them while your still training their incompetent lazy asses and dealing with their bull shit mistakes on a daily basis, plus the cost of products, supplies, shipping, multiple phone lines, transportation, licensing, maintenance, storage, vehicles, equipment, furnisher, landscaping, taxes, et cetera... trading overhead is cheap as dirt by comparison.... and what about the expense of expanding with a second business location as compared to just buying 2000 shares instead of 1000, you can basically double your trading business in a sense by pressing a different button on your keyboard... so spoiled.
Quote from mark2:
My thought is .. would you consider something else besides of scalping? The reason is.. the cost of the volume you trade everyday is big enough to consume more than 1/3 of your profits. But wihtout the volume you won't be able to generate the profit level at all.
My guess is you must be young, responsive and very smart, like most of the typical scalpers I know.
Well, I am old and slow enough to give up the idea of scalping totally. My eyes hurt if I stare at the flashing screens for too long.
Instead, I use simple setups for day trades. Typically I do only 2-4 ( no more than 5) trades a day. And I usually make more than $500 on the days I trade ( Oh, for sure I have down days too) . I don't trade everyday and I don't trade with big capital for my own account .. well I don't need to, to be honest. Trading life could be much easier without scalping.
Well, as I said.. this is just a thought...
G/L
I have tried everything. Nothing else fits my personality.
Quote from robbie380:
my thoughts are that this guy has made 300 in a day a few times and now he feels like he can say he makes that much everyday. quit bitching about the fees and make some trades. if you are consistently making 300/day then it's not that hard to step it up a little from there if you do some analysis of your trading.
bottom line.....i don't believe this guy.
Yea, I am a fucking shill. I am trying to promote my own brokerage firm. I'll give you 100:1 leverage on a 1k deposit. Oh and I will take 60% of your profits for that. Oh and i will trade against you. And the software fee is $500 a month. Would you you like to join?
Bottom line: This guy is probably a broker or affiliated with one.
Dude has a point.
If you are consistently making 500 day gross off of only 25k shares- step it up- double your size and hope you can make 1K a day off 50K shares. Obviously not that easy- but just saying dude has a point.
Or go another route. If you are consistently profitable- get into more trades, get your volume up and stop paying .004 to get your commissions lower. Hopefully your gross is somewhat proportional to the extra trading- and your costs will be lower.
As for the whining about fees to middlemen. Damn son- trading keeps getting cheaper and cheaper. You don't want to know what they paid just 5-10 ago if you are complaining now. Of course that was before open book, hybrid and the worst culprit sub pennies just eating stocks up with obnoxious noise. If we have to deal with this "hybrid" crap market- bring back fractions or go to nickels and get rid of the rebate traders.
If you are consistently making 500 day gross off of only 25k shares- step it up- double your size and hope you can make 1K a day off 50K shares. Obviously not that easy- but just saying dude has a point.
Or go another route. If you are consistently profitable- get into more trades, get your volume up and stop paying .004 to get your commissions lower. Hopefully your gross is somewhat proportional to the extra trading- and your costs will be lower.
As for the whining about fees to middlemen. Damn son- trading keeps getting cheaper and cheaper. You don't want to know what they paid just 5-10 ago if you are complaining now. Of course that was before open book, hybrid and the worst culprit sub pennies just eating stocks up with obnoxious noise. If we have to deal with this "hybrid" crap market- bring back fractions or go to nickels and get rid of the rebate traders.