Quote from ganesh6:
How much it will cost to trade 1 lot of ES if the 0.25% transaction tax is implemented.
Quote from tortoise:
almost $175 dollars per side
that's $350 per round turn
In other words...if you do a trade that runs for eight points, you get to keep one point, the gov't gets the other seven.
That's what I plan to do but I wonder if Uncle Sam will clamp down on foreign exchange as they've done with Swiss banks.Quote from pokito:
I guess you can still trade DAX etc. and not pay a transaction tax.
Quote from tomahawk:
http://news.alibaba.com/article/det...analysis-update-1-us-financial-trade-tax.html
Read down under "PROPOSALS": .02% on futures, not .25%.
About $11/side at these levels.
One thing is for sure. Most of us trading futures are, by definition, day traders. There's no friggin' way we could trade in such a crappy environment. It's better that you set up shop elsewhere like, uhm, offshore.Quote from jjj1000:
This tax, which I do not believe for a second will pass, would absolute kill the market (in terms of volume). Also, I believe it would result in a major, major selloff (do you guys agree?). Now, who's the politician(s)/party who is going to be willing to be eternally branded as the one who sunk the US stock market? Answer: none - thus: it is not gonna pass.