sherlocky
30-11-2009, 10:31 AM
It would appear you are paying 'minimum' commission on this small amount. If you raise your investment to £2000 the charges will be 'less'. In order to make a 'profit' you have to include the costs.How much is the cost? Taking 'full' commission of 1.85% (that's 3.7% in & out)+ 0.5% stamp and say 1% spread that's 5.2% to make a profit. Of course there is cheaper commission (online, no-frills broker), the spreads on SETs stocks may not be that wide,and you should be able to deal inside the spread etc.
But why sell at 3.30 the same day??
Two suggestions. Try and negotiate 'closing' commission with your broker and trade T+10 to give yourself a better chance.
Apart from that you need more movement in the share price (more voatile stocks) Of course that may lead to larger losses.
But why sell at 3.30 the same day??
Two suggestions. Try and negotiate 'closing' commission with your broker and trade T+10 to give yourself a better chance.
Apart from that you need more movement in the share price (more voatile stocks) Of course that may lead to larger losses.