Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
How about 1 or 2 trades a day max - maybe none? You can't get blood from a stone. Good trading opportunities don't show up 20 times a day. You can't force the market to pay you money by trading it more. It just doesn't work like that.
Stop worrying about what Goldman Sachs is paying in trade fees. It has no bearing on what you're trying to accomplish and they are not a broker like say Interactive Brokers, they're a multi-national investment bank and financial services company. They play by a different set of rules.
So they don't pay any exchange fees either? Following is what retail pays:
Exchane fee : $1.18 NFA: $0.02
Commission to broker: $0.74
Total Per Side/Contract : $1.94
Round-Trip/Contract : $1.94 * 2 = $3.88
It sounds like you want to scalp, again it depends on a lots of factors; Is it possible? As I said maybe.
Honestly in your case [and I do not want to discourage you] that does not have much understanding of the markets yet, scalping wont be profitable, but you can keep trying.
I have tried many strategies some just having one trade per day to as many as 20 trades per day. I have tried trailing stoploss types and profit target types but all of them fail to return consistently. There are 2 or 3 great months but rest of the months give away the gains. But the caveat is that if the same strategy is run by Goldman Sachs then it will be immensely profitable. And this very fact raises my doubt. Is retail day-trading a myth created by Goldman Sachs and others to create liquidity for their own trades. After all even they need a counterparty.