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To add to this... that annual tax revenues is misleading. FTT was tried in Sweden, france and Italy and in every case lead to a net loss in tax revenues. Sweden projected it would raise 1,500 million Swedish kronor per year. In reality it raised 50 million a year. Which was entirely offset and...

I don't understand the point you're making? Are you saying 25% of your capital is low?? I dont know about equities, never traded them, but 99% of day traders use leverage so to use an example on an unleveraged $1000 investment isnt really speaking to the impact it would have on the financial...

That isnt how it works. It works on the face value of the contract you are trading. So you trade a 1 lot futures contract in bonds has a face value of $100,000 so you pay 0.05% of $100,000 every time you trade. I believe the proposed tax amount is 0.005%

Personally i would favor HFT's being penalised and leaving the market place. Lets face it, we want a market that is a level playing field and HFT's do distort the markets for a lot of point and click traders. But a FTT would kill off just as many point and click traders as it would HFT's. Its...

How so? For an average day trader trading around 10 times a day it will add between $100 and $200 a day to your commissions. I dont know any traders that can handle an extra 500-1000 dollars a week for every 1 lot they trade?

There are zero edges that wouldn't be significantly impeded by a FTT unless you are talking about a trading approach that is very low volume. Anything less than one trade a day is investing in my book

Name ONE edge that isn't eroded by technology? I'm not even talking short term patterns.. even medium term and longer term patterns in the market can be searched for and traded by computers hundreds of times faster than it would take a human to even conceive of the trading idea.

Without sounding too callous.. how old is Bernie? Surely if it came to the crunch people will realise that having a President whos job will involve huge pressures, lots of travel etc as he approaches 80 years old is not at all practical.

Are you suggesting market were better 30 yrs ago? The markets possibly offered more edges because the market was smaller and less technologically advanced. Humans did the jobs computers do now. There was order flow for locals to trade etc. But a financial transaction tax will NOT change this. It...

Hope so KTM. Is such a dangerous ideology. But hard to convince the young and idealistic that 'free money for all' ends very very badly Our Jeremy Corbyn is an absolute joke. Wants to start QE for the people. So the Bank of England just prints money if we want a new road or school. These...

Most socialists do. There wasn't a mortgage default problem back when "life was simpler" and we only dealt in real goods ergo we should go back to those times. Thats how these people actually think. Ignoring the fact people are infinitely better off these days.

As i understand it the tax is on all exchange based instruments and securities. This would include futures and options also. It will be a 0.01% tax on the face value. So a 1 lot bond future that has a face value of $100,000 would have an additional $10 on every futures trade.

There are surely workarounds if it was implemented? Thankfully i believe the capital markets are bigger than a few crack pot socialists. I don't think US stock futures could relocate (unless CME bought up a non US exchange) as they own all the IP/Copyright on Dow Jones, S&P etc so would have a...

Thats right Fon, FTT has been tried in other countries, hugely lowers tax revenue and massively increases volatility. But unfortunately I don't have the faith you do in the intelligence of A/ voters B/ politicians. Most people think Wall Street = Bad because they watched the Big Short and know...

Well said Bob!

Yup $20 a trade. So assume you are trading 10 times a day. That's an extra $200 a day off your income per contract traded!! $4k a month/ $48k a year per contract traded in additional costs! Industry would be destroyed. But agree, HFT doesn't benefit many people other than HFT's but this...

With respect I think that's a limited view of the markets. If everyone was an intraday position trader the markets would be entirely different and lose their main purpose. I've been a professional trader for almost a decade as I mentioned. And have yet to meet more than 1 or 2 guys that make...

Hi, Im based in the UK so probably not up to speed as much as many of the US based people on the forums re: the US elections. Looking at Bernie's policies though, things like a financial transaction tax would kill day trading as trading commissions would increase ten fold. A futures contract...

hmm not so sure about the simply stay open 24 hours comment. Im a european equity/bond trader, im not going to trade those markets from hong kong at 3 in the morning. It needs to fit in with the time zone. I know a few guys that have gone to Dubai its pretty geared up for trading there. Great...

All good points, but rather than arguing who would have handled this mess better the fact is socialism would destroy this industry. What can we anticipate and be prepared for should the worst happen. One things for sure "banker taxes" and trading taxes will drive the industry abroad. Wonder who...