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I use the same brokers for about 24 years. Sorry, it is a lie. First it
was father, now it is junior. Here are some of my thoughts.
1. You can not use "bad" brokers regardless of costs. Nothing bad works.
2. Importance of commissions depends on you trading "style". If you buy
a 1000 contracts at the beginning of the bull market and sell it at the
top (just wishful thinking folks) then you have 1000 round trips (not
counting rolls over) and the amount of commissions you pay for that one
trade is totally immaterial. If you make a 1000 different trades during
the day and some of them produce a few ticks profit and some of them
losses (that would never happens to you, I am sure) then amount of
commissions could be more crucial then your trading system.
3. If your broker gives you a trading advice, please, rename him (her,
especially if she young, beautiful and available) to the market adviser.
4. And finally, I never have any "bad fills" or "slippage". I my case I
call the broker, he connects us (himself and me) to the "pit" (is it
really a hall in the ground?) and people there tell me bid and ask. I
buy at ask and sell at bid, they report how much (if any) was done at
the price I specify and what the new bid and ask is. We continue until
we done.
Jdonato98@xxxxxxx wrote:
>
It never ceases to amaze me, we as traders, especially Future and
options, ... that we won't spend $20 to $30 to place a trade directly
with a broker. Everyone is trying to get into the market for $5 to $10
and then complain about bad fills, delays in execution, and a loss of
money because of it.
A good broker with a reputable firm will save you more than that and
give you your fill while you are on the phone and watch your trades and
stops.
Plus he will normally assist you with his own view of the markets.
>
> All the Best,
> Jerry Donato
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