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jungem05
1
jungem05 Mar 28, 18 2:38 PM

With such a large fee, you might try a different broker until you grow your account to where fees don't matter

Nodrog
1
Nodrog Mar 28, 18 4:26 PM

I agree with @jungem05. Try to find a broker with a more suitable fee structure. I started last year with a broker that charged me about 30 USD for a round-trip trade (1 entry + 1 exit). Due to the high fees, many trades ended up as loss or break-even, when they could have been profits. Had I been with Interactive Brokers from the start, I actually would have made net profit last year, instead of net loss. Also, try to find setups/patterns (and maybe higher priced stocks) that can give you more

Nodrog
Nodrog Mar 28, 18 4:28 PM

Also, try to find setups/patterns (and maybe higher priced stocks) that can give you more profit per share. It's hard to grow the account (in the beginning) when you are relying on pennies per share to make money. I'm currently trading stocks that have 1-3 dollars of profit potential. I find this better to manage (they are a bit slower than penny-stocks) and it helps me to avoid the habit of scalping.

jungem05
jungem05 Mar 28, 18 10:41 PM

@Nodrog I agree that IB fees is nice. But most people starting out with small accounts do not have the $10,000 required to open an account with IB.

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