[d=non-positive DYOC while holding]
[c=commission, or bid-ask spread was high in terms of percentage of investment amount not notional]
[m=margin account requires daily check, like a crying baby…]
[q=profit too quick and possibly unreal or unsustainable]
[t=time is NOT on my side]

Q1: how many months/years could I possibly hold a position?

— #1) [cdmqt] 1997 commodities for a few months
A1: months
— #2) [cdmqt] Saxo FXO for more than a year
A1: months, up to a year
— [dt] Oanda for a few months since late 2014
More recreational than earlier episodes.

Securities: mostly USD/SGD, but also a bit of gold and oil futures.
A1: 1Y+ for gold, oil. For USD/SGD, perhaps months

— #3) [q] Robinhood
Thank god the pre-clearance helps keep it more recreational.

A1: 1Y+, hopefully longer, as bulk of my assets have positive DYOC, allowing me to buy-n-forget.

==== txCost, NRY: 2 underrated advantages .. provide a significant margin of safety. When other investors experience losses or liquidity issues, I am often spared. Most people underestimate these advantages. Instead they focus on the overrated DRIP.

With commission costs and zero-div stocks, the entry-price/timing decision is more risky, more error-prone, more intimidating, less fun. I often become paralyzed by the due diligence. The dividend payout is a huge psychological and economic cushion against NAV drop or regrettable entry-price.

Similarly, rEstate investment without rental yield is more risky.

— small transaction costs (one-time or periodic) do add up .. Some investors (like Kun.H) seem to dismiss these costs esp. commissions, in their pursuit of 中长线 strategic trends. In contrast, My MOETF “system” and HFT systems rely heavily on the commission advantage. Some HFTs even earn a rebate from exchange for providing liquidity.

Upfront commission and expense ratio are the two best-known transaction costs. Other small transaction costs:

• FX exchange costs
• fund transfer costs between institutions.
• taxes