Whats the point?
posted on
Jun 05, 2009 07:09AM
i am not a day trader or in and out person, so if this seems like a dumb question sorry. If a person bought 5000 shares at .01, thats 50 bucks plus whatever the commission is. They decide to take profit at .019 @ 5000 shares is 95.00 plus another commission. If its Scottrade its 7$ plus a small percentage under a buck. So that means its cost you about 14$ and change. your profit is now less than35$. Do they stay out or buy back in? If they buy back in now its .016 so that money buys less shares. I see the 5000 share deals. How do they really come out ahead on this even if its 50,000 shares. All of that time and effort, my time is worth more than that.