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Originally Posted by iDumb
IBought shares at 35.1 yesterday. Saw the price this morning, logged in and sold at 38 dollars with a nice 8% gain.
It's still rising however... went past 38 now... ah well...
boyaaahhhh....
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See, in response to your previous reply to me, I'm in Oz, and for retail investors it $20 per trade. I dont have the volume (read funds) to make a trade where a rise from 35 to 38 brings in a nice gain. After $40 in fees for trades in one stock within 24 hours, it starts to wear down on the wallet. Now if I had hundreds of thousands of dollars to play with, maybe I could have.
Secondly we dont have access to stocks on the NYSE that we can trade directly. At most index funds. Which means no access to the breadth of stocks and companies that are generally household names in the US (and by extension the world). Local ASX 50 companies are there, but they do tend to move slowly compared to NYSE stocks, so the volume and the price tends to be a bit sticky. It's just not as good for daytrading or short term trading here.
Even Canada wasnt this bad, I remember TD would over CAD7 trades, with access to US markets.