Yes Chris, I understand everone has to make a living, and you folks that run SOES shops are not a public service. My experience has been that less concern/guidance is generally shown to new traders than is appropriate. Too much churn and burn for my taste.
The fact is that MOST people are not suited to the battleground known as day trading. For obvious reasons, the marketing of this business avoids the issue. In my opinion, more money is lost by most people to the HOUSE than to the market and spreads. Even if the fancy computers cost $3000 per seat, which they probably do not, that cost is amortized very quickly by a modestly active trader. Rent, data feeds, yes they cost money.
You can now trade up to 5000 shares of ANY STOCK for $7.95 LIMIT or MARKET. (www.suretrade.com) .I know there's probably pay for order flow here, but geez, $15 round turn vs 40 or 50 is some gap. And they don't bust your chops if you don't feel like trading or the market sucks.
My guess is SOES houses will be forced to compete on price, hopefully sooner than later. Then I'll get back in the game. |
