Please skip cost related to brokerage like commission, wire transfer, PCs and other hardware, ...or any other common cost that every one HAS to pay. Costs like: 1-TA software or platform charges 2-Front ends, Scanners 3-Signals, advisory services, chatrooms, proprietary software or any add-ons indicators. 4-News services 5-"Data" any kind including realtime exchange subscription 6-Various type of internet connection 7-Office rental or web site related cost for runing Trading business 8- Any managed funds costs, fees and % commissions for net profit p.s. losses from trading are not counted I appreciate if anyone can specify their expenses here. Thanks for voting.
This is what i will use and used 1-$150 to $200 2-$50 3-$150 4-0.00 5-$50-100 6-$50 7-$150 (i don't anymore) 8-0.00 ---------------- Total $450 to $550 Maximum
$100 to $200 is too high. I spend $9/mo on SierraCharts plus my cable connection. Less than $50 all told.
I never thought of using news service (Like Dow Jones News Service which cost $95 from TS and $115 charged by eSignal) because intraday, you will see and react faster to the price action than the news released to you, espcialy if using tight stop orders. I could have saved about $100 if i had account with IB, but still i would have used that saving and spend it on somthing else. I don't think it make much different to your year-end results, not spending or saving extra 100-200$/month. The only thing that you can control is broker commision, and when it come to negotiation, you have to bargain to the death, that's where you can save another few Hundreds of $ dollors. Lets say you are trading with at least 2 contracts, and if you trading is profitable, you can offered to spend, on the other hand if you are lossing, loses will have many times more impact on your equity each day.