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Day Trade Futures Safely For Reliable Profits: How to Use Smart Software to Develop Profitable Strategies and Automate Your Trading by David Bennett

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Chapter Six: Traps for Unwary Traders

Costs can kill

It has never failed to amaze me how cavalier new entrants to the trading business are about trading costs. In any other business, trimming and controlling costs is seen as an important management function. Trading should be no different, and yet astute managers, retiring from businesses where they have been ferocious cost managers, often morph into passive cost puppies when they step into the trading arena.

I devote as much energy to avoiding costs as I do to any other aspect of the trading business. Some aspects of cost avoidance can even be quite interesting.

Commissions and exchange fees

In the category of nasty but unavoidable costs lie broker and exchange fees. All traders must ...

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