Totally agree kacy but figures dont seem right. Assume: bhp @ 32.32.
You with minc. 10 times purchase of $ 20k ($200k) 10 times sale at market ($200k)
= 6188 units rotated * .10 profit = $618 subtract one buy note @ $33 and one sell note @ $33 = $66 = $552 after brokerage is taken out (profit)
Now for warnie. Assuming W does his $200k in 4 tranches. 4/buy for $50k and 4 sell @ market.
Commsec. $50k / 32.32 comes to around 1547 units. A buy order i just placed for this parcel returned brokerage of 224.95, so assume warnie has pull and gets brokerage for 180, "per trade executed"(commsec)
= 6188 units rotated * .10 profit = $618 subtract 4 buy and 4 sell contracts = one contract = ~$180 Therefore 8 contracts needed = $1440 in brokerage alone. profit - brokerage: 618- 1440 = -822 (loss)
Even if warnie was getting $100 brokerage per contract he is still bleeding on $200k turnaround, with bhp @ 32.32 and a $.10 profit.
Costing excluding conditional orders which minc has no fees for. Does minc do OCO (one cancells other) with conditional orders and sell orders in the market, Kacy.
For arguments sake i did a straight $200k buy, brokerage for that alone was $799. I am assuming larger private players would have this down considerably say $450. can anyone confirm this.
