Trading costs,bad entries and exits lower profits.

Naz

Experienced member
1,391 22
Trading costs,bad entries and exits give lower profits.

If you are daytrading the cost of your trading is very important.Its a business where we are looking to get the best bang for our buck.Getting good entries and exits and saving costs can make all the difference.

So if you spread bet you've always got a spread.If you use t/a you'll always be slightly late for the party.

I once remember being in a trading room, with a trader from the UK next to a New York NL2 trader.the guy from the UK wanted to use t/a for an entry so the guy from the US said OK when your ready tell me and we'll see what works best.

The UK guy looking at his charts said my indicators are just telling me to get in the trade.He paused for about 30 secs and said no i'm sorry false alarm.The NL2 trader said what are you talking about i just made $250 on that move!

They both happened to be extremely good at their own way of trading.But for me that was it. What it showed was that the t/a trader found the trade but the skills of the direct access trader gave him a $250 edge.If the t/a trader had entered the trade the NL2 trader would have been up $250 already!

Start by thinking how much you could save by using direct access skills,do your homework on your real costs of trading and remember that many business's increase profits by cutting costs.
____________________

One of things i enjoy doing is receiving invites from other traders to come and have a look at how they trade as well as replying to e-mails from traders from all over the world.Far from just believing that the way i trade is the best i always try and keep an open mind and i'm always astonished at the systems,skills and hardwork they put in.

Working with another trader,swaping different ideas can often lead to making my performance even better.That is why reading different ideas on a BB like this can often open ones eyes to something that maybe isn't quite the norm but is certainly interesting.
 
Last edited:
AdBlock Detected

We get it, advertisements are annoying!

But it's thanks to our sponsors that access to Trade2Win remains free for all. By viewing our ads you help us pay our bills, so please support the site and disable your AdBlocker.

I've Disabled AdBlock