Commissions are eating up my profit
I've decided to go back to virtual trading until I have 100 to 200 "trades" under my belt. I've been risking far fewer dollars, but when I make 4 trades a day it eats up $56. That's not a big deal when I'm risking $1,000 per trade. But when I'm risking $100, it doesn't make sense.
So, my plan is to figure out an expectancy for my system so that I can get an idea of what I should risk (and if I should even trade the system). I'll let you know when I get it figured out.
Today I lost 1.83 times my risk. I forced several trades against my better judgment. I should have done better.
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1 comment:
Well, you probably can't be a daytrader paying $7 a trade. You'd need to consider Interactive Brokers or Tradestation or something similar.
Actually $7 is too much if you are trading weekly screens too.
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