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Banned
Beating the fees
Guys,
What are your strategies, if any, with regards to reducing the effect of the brokerage fees?
For example, I am using ASB, and the minimum brokerage fee is $30 on trades over $1000, so my strategy thus far has been to make a minimum trade of ~$3000 at a time, thus limiting the brokerage fee to 1% of the trade.
The way I figure is that I accept a 1% loss straight away on the holding. This means that should I wish to sell, I have to make 2% gain just to break even, given the fee on the sell trade.
Anyone got a better idea?
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