my day trading journal

Discussion in 'Journals' started by cashmoney69, Aug 29, 2007.

  1. I guess I am really overpaying. I have my account at Fidelity since that is where I first started with the mutual funds. I started off paying $19.95 per trade for about the first week. I called Fidelity, and they changed my account to a "Silver" account which changed the fees to $10.95 per trade as of October 24. I called again today and was moved to a "Gold" account which will make each trade $8.00 starting tomorrow.
     
    #11     Sep 5, 2007
  2. Fidelity isnt a direct access broker. Those kind of fees are typical. I think Ameritrade is even higher.
     
    #12     Sep 5, 2007
  3. I found that the $40 roundtrip gave me something to shoot for in just trying to break even on each trade as I am just beginning.

    I guess at some time I should switch to a direct access broker. Are there any advantages or disadvantages besides commission rates? I found out the "Gold" level $8.00 price is not limited to <1000 share trades unlike the $10.95 which had additional charges for 1000+ share trades. I only have 100-325 share trades right now depending on the price of the ETFs.
     
    #13     Sep 5, 2007
  4. Jason, go with Interactive Brokers if you're looking to trade 100-325 multiple times during the day. you'll save a bundle. Check out their commissions = .005/share with a minimum of $1.00.

    http://www.interactivebrokers.com/en/accounts/fees/commission.php

    Click on stocks, bundled.

    I just saved you thousands per month

    :cool:
     
    #14     Sep 5, 2007
  5. direct access is for day traders...thats the only difference. OH, and they charge high % rates to hold over night.
     
    #15     Sep 5, 2007
  6. I have been making between 5-15 total trades per day.
    I have about $35,000 in the account and about another $35,000 in margain that I do trade with each day. I do hold margin overnight somewhat regularly, but I do not use the "daytrading" money to trade which is another $70,000. The margin interest rate is around 10-11% at Fidelity at the amounts I have/use.


    I plan on moving to IB at some point, and I already filled out most of the application online (at the point where you have to tell how funds will be transfered). I just haven't changed yet due to waiting for things to settle and losing some trading days. Is there a best/fastest way to transfer ETFs & money from Fidelity to IB? Do I have to not trade for three days until everything settles to transfer? I called IB, but they were not very helpful.
     
    #16     Sep 6, 2007
  7. from 9/5/07

    5 trades ( 2 winners / 3 losers)

    shares traded: 1000

    Stocks traded: GS, , TNH, JCP



    average winner: 20.50

    average loser: 38.31

    commission: 31.00

    todays P/L - 30.24


    -----------------

    today 9/6/07

    5 trades ( 2 winners / 3 losers)

    shares traded: 1000

    Stocks traded: GS, LEH, AAPL, RIMM



    average winner: 70.00

    average loser: 81.00

    commission: 30.00

    todays P/L - 133.00 [/B][/QUOTE]
     
    #17     Sep 6, 2007
  8. 3 trades ( 0 winners / 3 losers)

    shares traded: 500

    Stocks traded: JCP, CTDC, BHI



    average winner: 0.00

    average loser: 57.00

    commission: 18.00

    todays P/L - 171.00

    --

    from 8/29 to 9/7

    down - 316.13 ( down 1.05 % )
     
    #18     Sep 7, 2007
  9. 4 trades ( 2 winners / 2 losers)

    shares traded: 400

    Stocks traded: JCP, GS, LEH, GRMN



    average winner: 38.5

    average loser: 60.75

    commission: 24.00

    todays P/L - 68.50

    --
     
    #19     Sep 10, 2007
  10. Here is are the following 4 charts for todays trades

    LEH

    Missed the first move, then sold too way too early, but took

    profits where i could.
     
    #20     Sep 10, 2007