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Strategies & Market Trends : DAYTRADING Fundamentals -- Ignore unavailable to you. Want to Upgrade?

To: OZ who wrote (14394)	10/10/2001 10:40:36 PM
From: Leland Charon	Read Replies (2) \| Respond to of 18137

OZ, I am currently trading on a per trade basis and it stinks. I am looking for a realtick broker that charges on a per share basis (.01 per share would be great). Anyone know of that kind of deal? Leland

To: OZ who wrote (14394)	10/10/2001 10:41:36 PM
From: mcvcpa	Read Replies (1) \| Respond to of 18137

OZ, I have wondered the same thing. More than that, how can a DAT broker on a per ticket basis even stay in existence? Except for those traders who always open every position with size, it just doesn't work anymore. I am trading a prop account on the side right now for a firm who is giving me RT access until the T1 is in place for their software and/or their internet version is available. I am paying 4 cents per share when trading 500 share lots which I usually use to scale in/out. Commissions are kicking my A**. Then again, it wasn't that long ago that I was paying $23 a ticket so .......but still with cents/share available, the ticket based deals just don't work. I have noticed a lack of RT based b/d's offering cents/share pricing though.

To: OZ who wrote (14394)	10/11/2001 1:49:40 AM
From: Apakhabar	Respond to of 18137

I have been trading on a per-share basis for over two years. After all the ECN and SOES fees and taxes the bottom line is I pay almost exactly 2 cents per share. It would be less for me if I traded in size more often but almost all of my trades are 100 and 200 share lots. It's critical especially for new traders who will be trading 100-200 shares until they know what they are doing to keep their commissions low. Assuming my average trade was 200 shares, if I had paid $20 per trade I would have paid $240,000 in commissions. As it happened I paid less than $50,000. Nobody wants to save on commissions at the expense of good executions (this has always been the claim of brokerages that charge $20 a ticket) but if poor executions are a continuing problem that speaks of a larger inability (lack of anticipation) that even the fastest executions are not going to solve anyway.

To: OZ who wrote (14394)	10/11/2001 7:24:16 PM
From: John Koligman	Read Replies (1) \| Respond to of 18137

I dunno OZ, when I switched from Schwab online to Cybertrader, I thought I died and went to heaven <ggg>. I'm looking at a confirmation from Cyber I got in the mail a couple days ago. I sold 40,000 shares of Dell, the commission was $14.95, and the SEC fees were $25.87. At Schwab the commission would have been 3 cents/share, or $2400 for the roundtrip rather than under 50 bucks from Cyber. Then again, I can see where folks who trade in and out with smaller lots have a legitimate beef. I tend to trade perhaps once or twice a day with larger share sizes, so I like it. Regards, John