These brokers are still deceptive regarding their commissions. MB made a big splash advertising a flat-fee rate for an unlimited number of shares but in most cases (except for Island), the routing fees are still $.005 per share. So, if you're trading 20000 shares of a JDSU, that's still going to cost you at least 100 bucks per ticket. Not such a great deal.
Nothing "deceptive" about their commissions. It's all right there in black and white. http://www.mbtrading.com/fees.asp?lft=hme&hlt=11 And as far as trading 20K JDSU; it would cost maybe $60 with CINN (not $100) each way with the per trade + ECN fees (Plan B). If I'm going to trade about $80K of stock (JDSU under $4 x 20K) I'd rather trade 800 SPY and it would cost me $7 each way under Plan A.
Why would you trade SPY instead of JDSU if you wanted to trade JDSU? Like I said DOH, you're dumber than a bag of doughnuts.
Obviously you weren't a math major. Anyway, for someone as intellectually challenged as you seem to be ... it's about maximizing ones probability of a profitable trade ... and thus maximizing profit potential. Oh yeah ... not to mention JDSU is a POS. It never ceases to amaze me some of the uninformed replies I see here on ET.
Hey, it happens, however the challenge is to be the bigger person (man/ woman). In that example, what would the total commission be? $100 after all ECN fees and commissions or less than what the other guy claimed. We can take out our frustrations on each other and denegrate the value of this incredibly useful website, or we can be the larger trader and just overlook the quips, angst and outbursts and stilll deal with the issues.
1. Ever hear of historical volatility? 2. Do you know what volatility percentage is? 3. Does it matter that JDSU is a POS, or that it's a good trading stock? Only an amateur cares whether a stock is a POS or not. If you knew anything about historical volatility, then you wouldn't be picking SPY over JDSU, so your line about "maximizing profit potential" is BS. Anyway, I for one don't believe you're a real trader. You probably got a nice pile from your corporate "retirement", and now you're trying to bullshit us that you've been a full-time trader for seven years. Just the fact that you trade 300-400 shares of SPY says it all: amateur.
My initial post was an intent to help someone who asked a question. This PoundTheRock guy comes along and makes personal negative remarks (as he's done in the past) and also posts inaccurate info on commissions. Apparently he doesn't like to be corrected or have the FACTS contradict him. I merely replied with factual data. He claimed commissions would be $100. I claim they'd be $60. To overinflate commissions by 67% is more than an oversight. I do trade with MB so I think I know their commission structure.
I probably know a lot more about volatility, stats and TA than you can ever hope to know. I've been a this full time for going on 8 years. And I'd put my winning percentage up against you any day of the week. If you can beat 80% winners then I lose. As far as trading 300-400 SPY ... it's called money management and not risking an excessive amount on a single trade. I never got anything from a corporate retirement; I'm much too young for that. Guess you're wrong again ... just like with the commissions at MB. Flame away all you want ... I've learned that those who respond with anger and negativity are often the "wanna-be" traders who can't get over the hump and achieve consistent profitability. Anyway, I'll not reply to your drivel anymore ... too much of a waste of my time.