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The Cost of doing Business

The Cost of Doing Business
As we begin a new year you should consider setting up your trading activity into a small business if you have not already done so.  The beginning of the year is always the best time to set things up and tonight we will talk about the cost of such a business. 

Every business person knows if you plan to launch a new business no matter what type of business it is a restaurant a semiconductor firm a beauty salon or a stock trading business you will have certain costs associated with conducting your activity.  A business normally has expenses such as paying the rent payrolls for employees raw materials electricity etc. These are costs directly or indirectly connected with the product or service produced by the company. 

We as traders also have to deal with the various costs associated with this business.  The costs we are familiar with are slippage and commissions but there are other costs that you may not realize are part of operating your trading business.  There are costs directly associated with technology. Depending on how active you plan to be the computer system you use will be an important asset. If you plan to trade for a living do not try to save a buck by buying the cheapest PC system you can find or the one that is on sale the week you are looking for one.  Your computer system is your life line when trading stocks.  You will also need a good trading platform such as Esignal TradeStation Interactive brokers or Cyber Trader to name a few.  Your internet connection is even a cost of doing business.  These typically fixed technological costs have to be factored in your business plan because they are part of your overhead. 

The variable costs are the commissions and slippage.  These costs will depend on the level of activity you have with your business of trading. The repercussions of commissions and slippage into your overall cost of doing business will depend on the style of trading you perform and should be considered in your trading plan. 

Commissions and slippage levels become more critical to the very shortterm oriented microscalper who performs dozens of transactions on any given day and looks to make a small gain in each one. As the timeframes you trade become longer (intraday swing trade or longer term trade) the costs of commissions become less relevant since you are looking for a several point move instead of a few cents. 

Last but not least consider the cost of your education.  As mentioned many times in past commentaries education is a key factor in your chances for success in this business. Invest your time and money in a proper education and it will pay off big for you over the long run.  It is part of doing business as a trader.  Your $49 a month to STHQ is an example of this education cost and has to be factored into your costs of your trading business.  We feel what we offer is well worth the price and will be more than made up 100 times over in education you will learn trading with us. 

The point is do not waste your time or money trying to cut costs spend your time becoming more profitable.  Ultimately it is your proficiency as a trader which will make these costs more or less relevant. I have never heard a successful trader complain about the cost of doing business.







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