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Commissions for e-minis are eating my profits


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

Now I got the surprise that 80% from the original amount was eaten not only from commissions but also from Taxes.

What an idiot! I couldn't believe that for every transaction, FxFlat is taking a part from "Kapitalertragsteuer" (Tax) directly.

I was thinking that ~25% of the traded amount has to be reserved for taxes.

But it seems more than that!

I have an other account with IB and I am afraid to get a similar tax requirement after a year of activity.

I think, I will concentrate on my IT-company. Living from trading is onla an utopy, at least in Germany...


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  #12 (permalink)
 Keab 
London UK
 
Experience: Intermediate
Platform: SierraChart/Prorealtime
Broker: Sierra Chart/prorealtime
Trading: SandP futures
Posts: 517 since Jul 2013
Thanks Given: 124
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It all comes down to one thing really-how many ticks are you targeting?
And if it's just a couple then the next question is "can I scale up to a full contract?"
If you're trading micros then yes you're going to get nailed.
This drops away with a full contract, same with Es-$5 a full point jumps up to 50. Not sure the difference on Nasdaq but if you work out the percentages then I'm sure you'll get a happy surprise
Micros are only really for practise IMO
Edit-sorry I meant that Micros are only really for practise if scalping for just a few ticks. If you're averaging 20-30 ticks profit then they're certainly more than handy.


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Last Updated on September 11, 2022


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