My dad was not exactly a businessman. He worked in an oil refinery, making certain the instruments worked. But he was a sharp man and when I began trading he told me, "Larry, keep your overhead down."

I wish my dad was still alive to tell traders what he told me because I continually see traders spending way too much money.

Here are some ideas on how to cut your costs of doing business as a trader.

1. Save hundreds a month with this tip. One of the most expensive overhead costs traders have is paying for data. Often they are paying hundreds of dollars for data they could get for free, like COT data. It is free at several brokers or at a nominal cost.
2. I assume you've already shopped around to make certain your commission rates are not too high. If you pay more than five dollars a round turn, unless your broker is doing some outstanding service, you are paying too much. This tip has saved some traders $100 per month.
3. Does your broker charge you a monthly fee if you don't place a trade? Some do. Ours does not. You should not being paying a fee if you are not trading.
4. Computer costs are another area you can check out to reduce your overhead. Traders often brag to me about how many monitors and computers they have. I ask them, "Do you really need all that stuff?" When we talk about it, we find out they really don’t need most of it. I trade quite well from a laptop with an additional monitor. 
5. You can spend a fortune on software for research and trading platforms. We avoid all those costs using TradeStation. They give my followers the research and trading platform for free. (A savings here of close to $2,000)
6. Ever get sucked into those teaser ads? You know the ones telling you about the next Amazon, Apple or Bit-Coins. These marketers sell newsletters for usually over $1,000 a year.  You can find out what they are touting with a free subscription to Travis Johnsons' StockGumshoe. Travis does a weekly report ferreting out what the hot stocks and tips are, so you get them for free! (This one tip alone may save you $200 a month.) https://www.stockgumshoe.com

So, try not to spend your profits on overhead your really don't need.

Good Luck and Good Trading,
Larry