So, my funds went through to my E-trade account (I've been trading with $50 in a Robinhood account for the last week), and I was excited to be able to take some larger positions on trades, but without risking more than 5-10% of my total account. I took a small position this morning on AVEO, in at 1.82, out at 2.04. All told, a neat little 11% gain (I missed the start of the breakout, so in hindsight, I'd say I chased this.) Now, 11% was fine last week, but today, I learned that fees can be a profit killer if the play is too small. All told, I actually lost nearly $9. Lesson learned, I need to be patient, wait for the best plays, and don't chase. Otherwise, my execution was pretty good. Live and learn!
Posted Jun 26, 17 10:33 PMbywwestlund
Categories
Trading Mistakes
Tickers
AVEO
Yeap, you gotta be careful! Things are setup in such a way retail traders simply can't buy at X and sell at X + .01 without losing money. I just watched someone's proftily video not too long ago and they had like ~$500 in comissions on a trade due to A/H rates on a low cost stock! Can't remember who, but you have to be aware of your fees and factor that into all your trades.
so you trade with 50 USD. I myhself have 1000 usd and think that little money to play with. I think you should start with 2500-3000 usd.
I was only trading the $50 while my funding was pending in my E-Trade account
ok
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