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Strategies & Market Trends : SOES Trading
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To: TFF who wrote (1076)11/11/1997 4:44:00 PM
From: Cader  Read Replies (1) of 1618
 
Irby,

I agree with you 110% that commissions need to be as low as possible, as you know thats were the minus-sum part of the game comes in. My thoughts on the commision issue are as follows:

1. They are the price you pay to enter the game. A good trader (businessman) will negotiate a commision that he is comfortable with. A good Daytrading shop will negotiate if they want to keep good traders. The old supply and demand theory comes into play here.

2. A Daytrading firm has to make money to stay in business (dah!). The point I want to make is that if the place were you trade isn't making a profit a trader will, overtime ,become less effective. My reasoning for this is that technology is moving so fast that if your not making money to upgrade (in my opinion every six months) your going to get passed up.

3. I agree with your post earlier that Remote Trading is the future. Terra Nova Trading is now offering Remote Trading. They use a form of Real Tick by Townsend. The software does not have all the bells and whitsles as the software we run in our office but it has the basics (level II, charting, order entry). Two nice things that is does have are a web browser built into it and the ability to keep track of your account up to the second. The cost for this are $175 for software and Quotes and $64 for exchange fees. The commissions are $22.50 per trade. All orders go through Terra Nova's and Townsends ECN.

Later,

Cader
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