High commission eating my small profits

Hey everyone,

So its been about 2 years since I started my fx journey here at babypips and this autumn I opened a live account with a value of approx 150USD. I later increased my account size to approx 1000USD because i encountered a problem.

The problem is that even though my analysis is correct (I trade VSA) and the trade moves in my direction, I end up with a loss, because my broker charges 6 usd per trade (entry is 3usd and exit is 3usd). For example, I am LONG and up 10 pips and I see selling come in, so I decide to close the trade and take profit. But because the up move was not significant and my account size is small, I am still in a loss.

I use tradingview for charting and my broker is also available through it (Saxo bank). My broker commissions are not taken into account in tradingview, so even if it shows I am in profit in the platform, in reality i am in a loss because of commissions. There is also some currency conversion taking place (I am in Scandinavia), but this is less of an issue in my view.

The broker is local for me and verified. They also report my profits to tax authorities, which simplifies reporting to the authorities for me. And the broker is compatible with tradingview which I really like.

What would you do?

Should I increase my acc size so that smaller moves give higher profits that cover also the broker commission?

What else could I do?

Go for high probability trades with longer holding times?

Find a more competitive broker?

1 Like

Bingo! Perhaps both.

KC