this whole discussion is veering away from what an average to above average volume tradercan do to lower his costs without lowering his profits. let's get back to what a moderately active trader can do to minimize costs without impeding his profits and maximize the service he receives
bottom line you can get much better rates than a penny if you're only doing marginial vol with a good safe compoany with good customer servie
you are doing an excellent job. your blended cost per share is.00625. including ecn fees nobody on the street is going to rush to offer you a better deal. they are not exactly making big moolah off your 15G or $60commission/ day.
Stockripper, How many equity trades do you do per day? Are you merely a retail brokerage customer, or have you ever had any other type of relationship with a brokerage, for example, as an employee, vendor, contractor, etc.?
150-250k a day. no relationship with anyone. look around there's good rates out there for people who do there research
Stockripper, you told us your daily volume, thanks, but could you also tell us how many equity trades you do per day? and just to clarify, have you ever played any role in the trading industry, other than that of retail brokerage customer?
i trade anywere from 200 to 500 shares at a pop. no i have no reltaionship with anyone and why would it matter if i did?
Stockripper, If I understand you correctly, then, based on your daily share volume of 150K-250K, and your trade sizes ranging from 200 to 500 shares per trade, you must do somewhere in between a few hundred trades per day, or a thousand trades per day. That's a lot of trades. Is this correct? I also asked if you have ever played ANY role in the trading industry, other than that of retail brokerage customer. You said that you have no relationships, but that wasn't my question. Could you please answer my question? Did you EVER, now or in the past, play ANY role in the trading industry, other than that of retail brokerage customer? Thank you very much.
I find this thread to be a very valid thread. We battle all day long for entering and exiting at the best price with our strategies, but when it comes to saving on commish..there is some criticizing. This does not make sense. This is a business, respect money...don't love it! If I can shave a few percent off my costs...why not? But these folks suggesting to change a working strategy, are foolish...if it works don't fix it! The savings discussed here add up to thousands of $'s per year! Has your broker bought you dinner recently? Michael B.