I used smart keys primarily last week my first week, smart and cybersmart market and limit as i eased into the system,,,Pretty much was break even after two days of trading on the p & l side, but commission took me down 600 and change on mainly 1000 shr lots and a couple of 200 shr ebay yhoo trades,,,,,Can anyone suggest a way to reduce commissions,,, Is island direct the best way to go if they are around on the bid and ask.? The fee schedule shows you get money back on isld add liquidity,,,,,I looked at mbtrader and they are charging nothing for most of the ecn's other than your base ticket charge but i also noticed that cyber affords the isld direct refund per shr,,,, any comments on best commission reducing techniques,, Cyber smart is pretty dam good for executions, but you never know what kind of commission your going to rack up at the end?
I have my smart keys programmed as
or in the following order
1.island direct
2.attn
3.ecn's
4all others
and my average ticket price is looking at around 22-23 bucks a trade based on the 19.95, but of course that will be reduced as the quantity builds up over the month,, but it still seems pricey
Does this make sense to you seasoned guys out there? Any suggestions on programming smart keys, and suggestions on which ecns to stick to when trading?
Thanks a million commissions for answering this post |
