- SEC fees are paid by the trader every time he or she sells
stock. When you buy stock the SEC decided to be kind and
not charge a fee. Look at your trade confirmations and you will
see the SEC fees charged to your sell trades.
- Much of the following statistical information
was retrieved from internet searches. I make no guarantee as
to its accuracy, but I welcome you to verify my findings.
-
- $2.3 Billion yearly income for the SEC. Not bad! Starting to
look like
 a MacDonald's hamburger
tally. Just think of the share volume that is reported each day
and consider the fantastic amount of money that changes hands.
Hey, wait a minute, I think much of that money belongs to us,
the public. Oh yes, the mutual funds and institutions that move
your money in the 401K plans, etc. probably make most of the
trades. I guess we pay SEC fees more often than we realize.
-
- SEC fees are calculated by multiplying the principal amount of your sell
trade by .000034. That sure doesn't look like much money, but
let's see what it costs an active daytrader.
- Suppose you make 300 trades in one month.
Assume that you make 1000 share trades and you trade only Microsoft
at $60.00 per share.
- 1000 shares x $60 = $60,000. per trade
- $60,000. per trade x 150 sell trades in
the month = $9,000,000. (9 million dollars)
- $9 mil x .000034 = $306. paid in SEC fees
for the month
- Now multiply that by 12 for a 1 year cost
of $3,672. (that would buy a nice toy!)
-
- The bad part of this fee structure is that you pay the fee
whether you make money on the trade or not. You should add this
cost of doing business to the commission you must pay to do the
trade.
-
- Isn't it strange that the SEC pulls in about $2.3 billion a year, but
we hear on TV that they do not have the man power to do their
job? Isn't it also strange that they take in about 6 times what
they need to run the SEC as it is run today? What do you think
about the government's moving the excess money to the treasury's
general revenue fund?
- The SEC fees might have been reduced by
legislation. To see how much you are paying in SEC fees, divide
the SEC fee paid on one of your sell trades by the principal
amount of that trade.
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- Learning to trade is no simple task due to the skills and education
necessary. If you think that you've learned enough and are ready
to trade I hate to rain on your parade, but you are trying to
take money from the professionals and they don't like to give
their money up. How would you do as a Green Bay Packers quarterback
after just a few lessons. I know I would get squashed. For some
reason people don't think they will get squashed in stock trading,
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professionals make a living. You know the old saying, "
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- There are 2 main reasons why I take the time to publish this newsletter.
The first is to share my knowledge with fellow traders because
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