NexusFi: Find Your Edge


Home Menu

 





Commissions for e-minis are eating my profits


Discussion in Brokers

Updated
      Top Posters
    1. looks_one hdrobi with 4 posts (0 thanks)
    2. looks_two matthew28 with 2 posts (1 thanks)
    3. looks_3 chipwitch with 2 posts (2 thanks)
    4. looks_4 Markus with 1 posts (2 thanks)
      Best Posters
    1. looks_one erwinbeckers with 4 thanks per post
    2. looks_two Markus with 2 thanks per post
    3. looks_3 chipwitch with 1 thanks per post
    4. looks_4 Keab with 1 thanks per post
    1. trending_up 4,999 views
    2. thumb_up 11 thanks given
    3. group 8 followers
    1. forum 11 posts
    2. attach_file 0 attachments




 
Search this Thread

Commissions for e-minis are eating my profits

  #1 (permalink)
 hdrobi 
Mannheim Germany
 
Experience: Intermediate
Platform: IB/Prorealtime
Broker: Interactive Brokers
Trading: Micro NASDAQ
Posts: 5 since Oct 2019
Thanks Given: 0
Thanks Received: 0

Hi everybody,

With my work as a computer scientist, it is not easy to have time. Specially having my own company. But I try to take time to learn to trade and to trade
After 2 trading seminars which didnt help much and 7 years of patience, I begin to be profitable. But scalping Nasdaq e-mini, 20%-40% of my profits are eaten by commissions.
Do someone here knows, which brokers offer the cheapest commissions?
P.S: I live in Germany
Thanks.

Started this thread Reply With Quote

Can you help answer these questions
from other members on NexusFi?
Quantum physics & Trading dynamics
The Elite Circle
What You Know vs How much you know about it
Traders Hideout
Zombie Indicator Help
NinjaTrader
static margin on the right side of a chart
NinjaTrader
ZombieSqueeze
Platforms and Indicators
 
  #2 (permalink)
 dsheehan87 
Chicago IL USA
 
Experience: Advanced
Platform: Ninjatrader
Trading: ES CL SB
Posts: 14 since May 2020
Thanks Given: 3
Thanks Received: 18


hdrobi View Post
Hi everybody,

With my work as a computer scientist, it is not easy to have time. Specially having my own company. But I try to take time to learn to trade and to trade
After 2 trading seminars which didnt help much and 7 years of patience, I begin to be profitable. But scalping Nasdaq e-mini, 20%-40% of my profits are eaten by commissions.
Do someone here knows, which brokers offer the cheapest commissions?
P.S: I live in Germany
Thanks.

Lease a CME seat. End of story. There's no other way, except maybe to trade with a prop form that has a seat (not one of the "funding companies" but a prop firm). Its about $1000 a month for an IMM seat. I know someone leasing their CME seat but thats $$$

Reply With Quote
Thanked by:
  #3 (permalink)
 
matthew28's Avatar
 matthew28 
United Kingdom
Elite_Member
 
Experience: Beginner
Platform: Bookmap
Broker: Stage 5, Rithmic
Trading: US Equity Index Futures
Posts: 1,250 since Sep 2013
Thanks Given: 3,500
Thanks Received: 2,532


You don't say who you are with at the moment, how much you currently pay, or how many round turns you do.

Maybe Tradovate - https://www.tradovate.com:443/pricing/

NQ full price is $4.36/RT
NQ on the Active Trader Plan is $3.16/RT for a $99 fee/month (so cheaper if doing more than 83 round turns a month).
NQ on the Commission Free Membership Plan is $2.78/RT for a $2,400 fee/year.

You do not win as a trader, you just get to play again the next day. If that game doesn’t appeal to you then you should not trade. Gary Norden
Reply With Quote
  #4 (permalink)
 
chipwitch's Avatar
 chipwitch 
Nashville, TN
 
Experience: Beginner
Platform: NinjaTrader
Broker: NinjaTrader, Continuum Data
Trading: MES for now... baby steps
Posts: 322 since Feb 2022
Thanks Given: 230
Thanks Received: 631


matthew28 View Post
You don't say who you are with at the moment, how much you currently pay, or how many round turns you do.

Maybe Tradovate - https://www.tradovate.com:443/pricing/

NQ full price is $4.36/RT
NQ on the Active Trader Plan is $3.16/RT for a $99 fee/month (so cheaper if doing more than 83 round turns a month).
NQ on the Commission Free Membership Plan is $2.78/RT for a $2,400 fee/year.

Wow! Ninjatrader is $4.08 and that's with the lifetime license!

Reply With Quote
  #5 (permalink)
 hdrobi 
Mannheim Germany
 
Experience: Intermediate
Platform: IB/Prorealtime
Broker: Interactive Brokers
Trading: Micro NASDAQ
Posts: 5 since Oct 2019
Thanks Given: 0
Thanks Received: 0


dsheehan87 View Post
Lease a CME seat. End of story. There's no other way, except maybe to trade with a prop form that has a seat (not one of the "funding companies" but a prop firm). Its about $1000 a month for an IMM seat. I know someone leasing their CME seat but thats $$$

Hi dsheehan,

Oh I always thought, one needs to have a special license or to be sponsored. This is definitely a new world for me
Leasing prices are interesting. But how to connect a trading software to a leased seat?

Started this thread Reply With Quote
  #6 (permalink)
 hdrobi 
Mannheim Germany
 
Experience: Intermediate
Platform: IB/Prorealtime
Broker: Interactive Brokers
Trading: Micro NASDAQ
Posts: 5 since Oct 2019
Thanks Given: 0
Thanks Received: 0


matthew28 View Post
You don't say who you are with at the moment, how much you currently pay, or how many round turns you do.

Maybe Tradovate - https://www.tradovate.com:443/pricing/

NQ full price is $4.36/RT
NQ on the Active Trader Plan is $3.16/RT for a $99 fee/month (so cheaper if doing more than 83 round turns a month).
NQ on the Commission Free Membership Plan is $2.78/RT for a $2,400 fee/year.

Hi Matthew,

Here an example of what I traded this week, from monday to today:
109 trades (I trade exclusively MNQM22 - Micro E-Mini NASDAQ)

P/L: 1091.20 Euros
Commissions: 334.80 Euros
Net Profit --> 756.40 Euros
(deposit 10.000 Euros)


More than 1/3 of my profits are gone...

It's OK to pay commissions but as a scalper, I don't know whether scalping is a good idea.
But scalping fits my personality and I can not imagine to trade long term...

Tradovate: I didn't like the trading software. Is Tradovate available outside US? Option to use other trading platforms?

Started this thread Reply With Quote
  #7 (permalink)
 
matthew28's Avatar
 matthew28 
United Kingdom
Elite_Member
 
Experience: Beginner
Platform: Bookmap
Broker: Stage 5, Rithmic
Trading: US Equity Index Futures
Posts: 1,250 since Sep 2013
Thanks Given: 3,500
Thanks Received: 2,532


hdrobi View Post
But scalping fits my personality and I can not imagine to trade long term...

Tradovate: I didn't like the trading software. Is Tradovate available outside US? Option to use other trading platforms?

I would think that if scalping suits you, best to stick with it rather than try to trade a method that doesn't fit your personality.

Regarding a Tradovate account I live in the UK so Europe should be fine.
For other platforms best to ask them if interested. For instance they have API access available for order routing.

You do not win as a trader, you just get to play again the next day. If that game doesn’t appeal to you then you should not trade. Gary Norden
Reply With Quote
Thanked by:
  #8 (permalink)
 erwinbeckers   is a Vendor
 
Posts: 29 since Aug 2018
Thanks Given: 10
Thanks Received: 32


matthew28 View Post
More than 1/3 of my profits are gone....

Then it sounds like you are scalping 1 ES tick ??
Most scalpers go for 4-5 ticks
When scalping 4-5 ticks your profit $50 / $62.5 for a winner.
So if you pay $4 in fees then still have $46 / $58.5 profit left

But yeah. if you are scalping just 1 tick then you only win $12.5
and then those $4 fees become a big part, 1/3rd of your profit

Perhaps it's time to reconsider if scalping 1-tick is an intelligent thing to do?
Commission prices will likely increase in the future (like they have done in the past ))

Meaning.. you will give away much more profit in the future when scalping just 1 tick

Reply With Quote
  #9 (permalink)
 
chipwitch's Avatar
 chipwitch 
Nashville, TN
 
Experience: Beginner
Platform: NinjaTrader
Broker: NinjaTrader, Continuum Data
Trading: MES for now... baby steps
Posts: 322 since Feb 2022
Thanks Given: 230
Thanks Received: 631


erwinbeckers View Post
Then it sounds like you are scalping 1 ES tick ??
Most scalpers go for 4-5 ticks
When scalping 4-5 ticks your profit $50 / $62.5 for a winner.
So if you pay $4 in fees then still have $46 / $58.5 profit left

But yeah. if you are scalping just 1 tick then you only win $12.5
and then those $4 fees become a big part, 1/3rd of your profit

Perhaps it's time to reconsider if scalping 1-tick is an intelligent thing to do?
Commission prices will likely increase in the future (like they have done in the past ))

Meaning.. you will give away much more profit in the future when scalping just 1 tick

Your last post incorrectly attributes your quote to Matthew when it should be attributed to @hdrobi

Reply With Quote
Thanked by:
  #10 (permalink)
Markus
Frankfurt am Main
 
Posts: 38 since May 2010
Thanks Given: 6
Thanks Received: 33



hdrobi View Post
Hi Matthew,

Here an example of what I traded this week, from monday to today:
109 trades (I trade exclusively MNQM22 - Micro E-Mini NASDAQ)

P/L: 1091.20 Euros
Commissions: 334.80 Euros
Net Profit --> 756.40 Euros
(deposit 10.000 Euros)


More than 1/3 of my profits are gone...

It's OK to pay commissions but as a scalper, I don't know whether scalping is a good idea.
But scalping fits my personality and I can not imagine to trade long term...

Tradovate: I didn't like the trading software. Is Tradovate available outside US? Option to use other trading platforms?

334,80/109=3,071 r/t so what? This is ridiculous c'mon
Are you talking about E-Mini or Micros?



AMP futures MNQ All in cost:

https://portal.ampclearing.com/account/commissionquote.aspx

109x0.94 with CQG order routing = 102,46USD vs 334.80EUR

Try Quantower or Multicharts that are both free or Motivewave/Sierra Chart (you have to pay a monthly lease)

Reply With Quote
Thanked by:




Last Updated on September 11, 2022


© 2024 NexusFi™, s.a., All Rights Reserved.
Av Ricardo J. Alfaro, Century Tower, Panama City, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada)
All information is for educational use only and is not investment advice. There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
About Us - Contact Us - Site Rules, Acceptable Use, and Terms and Conditions - Privacy Policy - Downloads - Top
no new posts