Oh No, NOT Another S&P EMini journal...

This is for KRSNA:

Sorry my last post wasn't correct. No text there.

Isnt PF = Gross Gain / Gross Loss ?

You said Net gain ?

Pl excuse if i am wrong. I cant wait till i get these figures for my trades but I dont have the spreadsheets with me right now. On another comp.

Thanks
mishwar
 
Dear Goodday,

Are your expenses 0.003% all inclusive for a RT (for approx 124400) ?

Is it ?

$3.5/124400

pl clarify since I trade futures in India and not in the US. This is interesting information and was looking for it for a long time.

Thanks in advance
mishwar
 
Quote from mishwar:

Dear Goodday,

Are your expenses 0.003% all inclusive for a RT (for approx 124400) ?

Is it ?

$3.5/124400

pl clarify since I trade futures in India and not in the US. This is interesting information and was looking for it for a long time.

Thanks in advance
mishwar
More...

I have no idea how futures trade in India or how commissions are charged. I only know the US markets. In US, each contract you trade is charged a commission (unlike a stock where the commissions are flat fee for X number of shares --e.g. upto 1000 shares it is one flat price of $10.) Therefore your commission expense on futures trades would be the price of one RT multiplied by the number of contracts traded. In my case for each 100 contracts I trade, I pay $350 in commissions.
Hope this helps.
 
Quote from goodday:

I have no idea how futures trade in India or how commissions are charged. I only know the US markets. In US, each contract you trade is charged a commission (unlike a stock where the commissions are flat fee for X number of shares --e.g. upto 1000 shares it is one flat price of $10.) Therefore your commission expense on futures trades would be the price of one RT multiplied by the number of contracts traded. In my case for each 100 contracts I trade, I pay $350 in commissions.
Hope this helps.
More...

Thanks for the info. I know exactly how its done in India and have a fair idea how it is in the US but i didnt know it precisely. I couldnt sleep after seeing your posts cause that means im ready to be trading there.
My expenses are Rs 136 for a RT which is Approx Rs 600000

So thats the equivalent of paying $ 27 for a ES RT !

My calculations say i have $ 16 profit for a ES trade (its equivalent for our futures where I make Rs 80 approx). So i figured out that with your expenses i have $ 12.5 per RT on ES.
I couldnt sleep last night and i have mouth ulcers .. burning today..
:-)
now my only thot is how to make it to a prop shop or some institutional prop pref in NY, chicago or london.

thanks soooo much

regards
mishwar
 
Just to add .. I try to scalp with those fees. its insane .. we have around 7-8 different types of taxes and then 33 % on the net of tht !

:P
emerging economy
 
Quote from goodday:

I have no idea how futures trade in India or how commissions are charged. I only know the US markets. In US, each contract you trade is charged a commission (unlike a stock where the commissions are flat fee for X number of shares --e.g. upto 1000 shares it is one flat price of $10.) Therefore your commission expense on futures trades would be the price of one RT multiplied by the number of contracts traded. In my case for each 100 contracts I trade, I pay $350 in commissions.
Hope this helps.
More...


what do you exactly mean by flat for the day ? cause when i calculate i see you r in good profits most days

thanks
mishwar
 
Quote from mishwar:

what do you exactly mean by flat for the day ? cause when i calculate i see you r in good profits most days

thanks
mishwar
More...

Flat means all open positions are closed at that time. I do not carry any open positions into the next trading day. There are several "theories" of trading... My style of scalp-trading requires me to go flat at the end of the day (i.e. closeout all positions before going home).

It may be an American expression to "go flat", so there may not be an equivalent word in other trading cultures, but the concept is not alien to traders everywhere.
 
Quote from goodday:

Flat means all open positions are closed at that time. I do not carry any open positions into the next trading day. There are several "theories" of trading... My style of scalp-trading requires me to go flat at the end of the day (i.e. closeout all positions before going home).

It may be an American expression to "go flat", so there may not be an equivalent word in other trading cultures, but the concept is not alien to traders everywhere.
More...

I had guessed flat means close out with no open positions for the day. I do the same thing. Thanks. Scalping is the same. small world. all the best

regards
mishwar
 
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