and furthermore, before anti regulation it was $60 per round turn. after that, discount brokers offered $32 per round turn. That's what I charged my clients.
Naming the broker that charges "all fees" to enter (no cost to exit) regardless if you exit the trade tomorrow, next week, next month or whenever will quickly clear up the confusing statements. Like I said, I don't know of any "North American Brokers" that does such which is why I suggested maybe a foreign broker that allows trading the CME futures may do such because I only know a few foreign brokers (in France) and they don't do such. Regardless, I assumed the recent conversation in this thread was about today's brokers...not what happen decades ago.
It's exchange regulation that the clearing firm charges per trade, per side, not RT. So it's impossible that this is the case. That's why I kept pressing on it here. But like that guy said to me: I guess I must be on crack then, or wait a minute, I'm probably plain stupid. Well, elitetrader.com it's a lot of fun, I just have to take the newbies like they are... newbies
it wasn't just decades ago, it was in the last century. and they didn't charge going in. Didn't want to discourage you from putting on more.
Oldtime, I would argue with that. In fact, it's impossible. How would you take care with physical delivery? The CFTC clearly states that trades are charged per side. Not at the end of a RT.
yeah, I think my memory is clouded and it was like that even in the old days, because I can vaugley recall an old brown paper statement for 1 car of corn and the comm was $17.50. (That's when we realized the days of the full sevice broker were coming to an end.)
most likely what I was thinking when I started with IB was, "That's all?" at anyrate, you can make a living in ES on just one tick if you hit it all the time, but since you don't you need 2 ticks, which is harder to hit, so you win even less often so then you need 3 ticks and so on and so on. that's why sometimes I started the day as a scalper, and went home at night a position trader with a big loss.
let me put it to you this way, when you scalp for 1 or 2 or 3 ticks the way we all use to do it, everynow and then one or two or even three contracts get away from you and you take them home and hold them overnight at a big loss and toss and turn all night wondering, "Now what the hell am I going to do?" All it takes is one night when the market turns and you are up more on the open in just one day than you use to make in a week, and that's when you start to think, "Oh, so that's how they do it."
agree. you get charged for both sides of the transaction What i said many times now is that most traders only pay 1 time for the complete transaction . that covers the buy/sell which is the r/t commission In your example i would just pay the $ 3.20 r/t commission ( included both sides of the trade ) I pay the r/t commission of $ 3.20 One time & done not sure why that is confusing ? but that is the way it usually works I pay $1.60 all fees included per side for an ES E-MINI trade That is $3.20 all in. (commissions, clearing, exchange fees, NFA fee)
no prob man. traderslair has started to get me to believe that the US governments explanation of Rosewell due to time compression is really correct. When I start to re live the 1987 crash, sometimes in my memory I am trading with one firm and sometimes with another. The wierd thing is, sometimes I remember driving home in one car and sometimes in another. And the really pathetic thing is sometimes I remember it driving home to one house and other times driving home to the new house. The important thing is that we all realize that no matter how the broker advertises it, either by RT or per contract, you are charged by the side. You're cool man, we all get nailed from time to time.