039: Tom Dante – Speaks to the Competitiveness of Trading and Essential Skill Sets for Profitability
Chat With Traders
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How to Get Ahead of a Bear Market
My first account was just £500, which is a very small amount of money. And right off the bat, I just proceeded to voraciously buy stocks. There was no rhyme or reason in it. The broker that I set up an account with, we had to pay £15 both to get in the trade and to get out of it. So that was £30 commissions for a round trip. On a £500 account, that basically means the commission's account for 6%. To cut a long story short, the stock had to go up 6% for me to break even. But I kept that up for several years.
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