So here's the recap of my warrants trades till now...
Couple of not good things:
1. I've paid my banks 1'549.00 in bro and made 1'450 myself!
2. My one loser was double the size of my average winner
3. My latest winner was huge risk for very little return
Couple of good things:
1. Green
2. Should get back 240.00 in bro from my bank after email & chat
Is that a typo, FXPT? 1549??? That's daylight robbery!! And the trouble they gave you...my goodness! Ever considering using a cheaper broker? IB's good (at least you won't get to speak with arrogant service personnel, coz it's too difficult to get a human being on the phone LOL!), and so is TD Ameritrade (the latter is cheaper than IB if you trade volume).
ReplyDeleteI wish it were a typo...
ReplyDeleteTwo banks right;
One charges me 90.00 on sizes of 20k(.4%).
The other one I used "by accident" is 200.00 one way (1%).
Turnover with
bank A 256k [(22k+22k+84k)x2] @ 0.4% = 1024.00
bank B 48k (24k x2) @ 1.0% = 480.00
(for ease of calculation I've used rounded numbers... but you can see that it does come in at whopping 1504 even without exact calculation)
I'm trying to get a ticket fee arranged :) That would be ideal. Am in discussion with 2banks to see if we can reach an arrangement.
Quote from the big bank that charged me 1%: "We're not the cheapest" (ha! I said most expensive - and she laughed and said no, no) - "The management has decided we don't want to go after active daytraders" - "...if you bring new assets of 300-400k (!) we might be able to halve your bro" - ridiculous :D
I would have called her a bitch and withdrawn all my money.
ReplyDeleteCan you not take part of your money out and open an account with another just for trading? Making money from trading is hard enough. It really sucks when you have to share a huge bulk of your winnings with your broker.
hahaha :) that would've been fun in the moment calling her a bitch... I did think it. I also thought about just having myself a new account manager assigned cos I know from other banks I deal with, that certain people make much less fuss and aren't such a pain in the ass! :)
ReplyDeleteYes - I'm mainly using at least a bank that is 0.4 instead of 1% - but that's to much aswell really! So I'm in talks to get a ticket fee... Taking time...