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The amount is rather arbitrary, though it is the actual commission rate at one place I know of. I choose a rather high(=conservative) commission so that I wouldn't get into a commission discussion "well sure it works at $0.99 a trade but try this at $xx per trade and ...".
The key of the thread is a buying the breakout strategy and if it is good then commissions shouldn't break it.
I was just making the observation that generally people tend to sell their strongest performer, because of the $$ signs, and keep their weakest performers because of attachment to a bad trade, not wanting to take a loss, or greed wanting more profit.
Opposite is what works in reality, in my experience.
The "Chart of the Day" is Brookfield Infrastructure Partners LP (BIP), which showed up on Wednesday's Barchart "All Time High" list. Brookfield Infrastructure on Wednesday posted a new all-time high of $28.66 and closed up 2.14%. TrendSpotter has been Long since...
( full story)
The "Chart of the Day" is Chevron (CVX), which showed up on Tuesday's Barchart "All Time High" and "Gap Up" lists. Chevron on Tuesday rallied to a new all-time high of $110.99 and closed up 3.73%. TrendSpotter has been Long since Dec 22 at $106.31. Chevron rallied yesterday... ( full story)
The "Chart of the Day" is Ecolab (ECL), which showed up on Friday's Barchart "All Time High" list. Ecolab on Friday posted a new all-time high of $58.13 and closed up 0.31%. TrendSpotter has been Long since Nov 30 at $57.02. In recent news on the stock... ( full story)
The "Chart of the Day" is Dominion Resources (D), which showed up on Thursday's Barchart "All Time High" list. Dominion on Thursday edged to a new all-time high of $53.59 and closed up 0.85%. TrendSpotter has been Long since Dec 20 at $52.12. In recent news on the stock... ( full story)
The "Chart of the Day" is Google (GOOG), which showed up on Wednesday's Barchart "52-week High" list. Google on Wednesday posted a new 4-year high of $645.00, although it then showed some weakness by closing slightly lower by 0.09%. TrendSpotter has been Long since...
( full story)
Then I bought about $5,000 each of the ones we didn't have - same rule as before at the opening price of the day following the barchart report. So GOOG was Wed evening 28 Dec and I bought it at open on Thurs morning of the 29 Dec, etc.
(GOOG was $641.49 so I could only by 8 shares - ah the insanity of it all!!)
I've got $4,500 of cash left and BIP was this evening report so I'll buy it at open tomorrow.
Whatever's at a high profit tomorrow evening I'll sell 1/2 at the closing price and then buy about $5,000 of the next day report.
