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Commissions for e-minis are eating my profits


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Commissions for e-minis are eating my profits

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  #1 (permalink)
 hdrobi 
Mannheim Germany
 
Experience: Intermediate
Platform: NinjaTrader
Trading: Emini ES
 
Posts: 5 since Oct 2019
Thanks: 0 given, 0 received

Hi everybody,

With my work as a computer scientist, it is not easy to have time. Specially having my own company. But I try to take time to learn to trade and to trade
After 2 trading seminars which didnt help much and 7 years of patience, I begin to be profitable. But scalping Nasdaq e-mini, 20%-40% of my profits are eaten by commissions.
Do someone here knows, which brokers offer the cheapest commissions?
P.S: I live in Germany
Thanks.

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  #2 (permalink)
 dsheehan87 
Chicago IL USA
 
Experience: Advanced
Platform: Ninjatrader
Trading: ES CL SB
 
Posts: 14 since May 2020
Thanks: 3 given, 17 received


hdrobi View Post
Hi everybody,

With my work as a computer scientist, it is not easy to have time. Specially having my own company. But I try to take time to learn to trade and to trade
After 2 trading seminars which didnt help much and 7 years of patience, I begin to be profitable. But scalping Nasdaq e-mini, 20%-40% of my profits are eaten by commissions.
Do someone here knows, which brokers offer the cheapest commissions?
P.S: I live in Germany
Thanks.

Lease a CME seat. End of story. There's no other way, except maybe to trade with a prop form that has a seat (not one of the "funding companies" but a prop firm). Its about $1000 a month for an IMM seat. I know someone leasing their CME seat but thats $$$

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  #3 (permalink)
 matthew28 
Legendary Elite_Member
Wiltshire, United Kingdom
 
Experience: Beginner
Platform: Jigsaw daytradr
Trading: US Equity Index Futures
 
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Posts: 1,190 since Sep 2013
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You don't say who you are with at the moment, how much you currently pay, or how many round turns you do.

Maybe Tradovate - https://www.tradovate.com:443/pricing/

NQ full price is $4.36/RT
NQ on the Active Trader Plan is $3.16/RT for a $99 fee/month (so cheaper if doing more than 83 round turns a month).
NQ on the Commission Free Membership Plan is $2.78/RT for a $2,400 fee/year.

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  #4 (permalink)
 chipwitch 
Nashville, TN
 
Experience: Beginner
Platform: NinjaTrader
Broker: NinjaTrader, Continuum Data
Trading: MES for now... baby steps
 
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matthew28 View Post
You don't say who you are with at the moment, how much you currently pay, or how many round turns you do.

Maybe Tradovate - https://www.tradovate.com:443/pricing/

NQ full price is $4.36/RT
NQ on the Active Trader Plan is $3.16/RT for a $99 fee/month (so cheaper if doing more than 83 round turns a month).
NQ on the Commission Free Membership Plan is $2.78/RT for a $2,400 fee/year.

Wow! Ninjatrader is $4.08 and that's with the lifetime license!

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  #5 (permalink)
 hdrobi 
Mannheim Germany
 
Experience: Intermediate
Platform: NinjaTrader
Trading: Emini ES
 
Posts: 5 since Oct 2019
Thanks: 0 given, 0 received


dsheehan87 View Post
Lease a CME seat. End of story. There's no other way, except maybe to trade with a prop form that has a seat (not one of the "funding companies" but a prop firm). Its about $1000 a month for an IMM seat. I know someone leasing their CME seat but thats $$$

Hi dsheehan,

Oh I always thought, one needs to have a special license or to be sponsored. This is definitely a new world for me
Leasing prices are interesting. But how to connect a trading software to a leased seat?

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  #6 (permalink)
 hdrobi 
Mannheim Germany
 
Experience: Intermediate
Platform: NinjaTrader
Trading: Emini ES
 
Posts: 5 since Oct 2019
Thanks: 0 given, 0 received


matthew28 View Post
You don't say who you are with at the moment, how much you currently pay, or how many round turns you do.

Maybe Tradovate - https://www.tradovate.com:443/pricing/

NQ full price is $4.36/RT
NQ on the Active Trader Plan is $3.16/RT for a $99 fee/month (so cheaper if doing more than 83 round turns a month).
NQ on the Commission Free Membership Plan is $2.78/RT for a $2,400 fee/year.

Hi Matthew,

Here an example of what I traded this week, from monday to today:
109 trades (I trade exclusively MNQM22 - Micro E-Mini NASDAQ)

P/L: 1091.20 Euros
Commissions: 334.80 Euros
Net Profit --> 756.40 Euros
(deposit 10.000 Euros)


More than 1/3 of my profits are gone...

It's OK to pay commissions but as a scalper, I don't know whether scalping is a good idea.
But scalping fits my personality and I can not imagine to trade long term...

Tradovate: I didn't like the trading software. Is Tradovate available outside US? Option to use other trading platforms?

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  #7 (permalink)
 matthew28 
Legendary Elite_Member
Wiltshire, United Kingdom
 
Experience: Beginner
Platform: Jigsaw daytradr
Trading: US Equity Index Futures
 
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Posts: 1,190 since Sep 2013
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hdrobi View Post
But scalping fits my personality and I can not imagine to trade long term...

Tradovate: I didn't like the trading software. Is Tradovate available outside US? Option to use other trading platforms?

I would think that if scalping suits you, best to stick with it rather than try to trade a method that doesn't fit your personality.

Regarding a Tradovate account I live in the UK so Europe should be fine.
For other platforms best to ask them if interested. For instance they have API access available for order routing.

Trading, ideally structured, is a vehicle for expanding consciousness, not damaging it. - Brett Steenbarger
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  #8 (permalink)
 erwinbeckers 
Zoetermeer
 
Experience: Beginner
Platform: NinjaTrader
Trading: Emini ES,
 
Posts: 22 since Aug 2018
Thanks: 7 given, 27 received


matthew28 View Post
More than 1/3 of my profits are gone....

Then it sounds like you are scalping 1 ES tick ??
Most scalpers go for 4-5 ticks
When scalping 4-5 ticks your profit $50 / $62.5 for a winner.
So if you pay $4 in fees then still have $46 / $58.5 profit left

But yeah. if you are scalping just 1 tick then you only win $12.5
and then those $4 fees become a big part, 1/3rd of your profit

Perhaps it's time to reconsider if scalping 1-tick is an intelligent thing to do?
Commission prices will likely increase in the future (like they have done in the past ))

Meaning.. you will give away much more profit in the future when scalping just 1 tick

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  #9 (permalink)
 chipwitch 
Nashville, TN
 
Experience: Beginner
Platform: NinjaTrader
Broker: NinjaTrader, Continuum Data
Trading: MES for now... baby steps
 
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Posts: 320 since Feb 2022
Thanks: 229 given, 594 received


erwinbeckers View Post
Then it sounds like you are scalping 1 ES tick ??
Most scalpers go for 4-5 ticks
When scalping 4-5 ticks your profit $50 / $62.5 for a winner.
So if you pay $4 in fees then still have $46 / $58.5 profit left

But yeah. if you are scalping just 1 tick then you only win $12.5
and then those $4 fees become a big part, 1/3rd of your profit

Perhaps it's time to reconsider if scalping 1-tick is an intelligent thing to do?
Commission prices will likely increase in the future (like they have done in the past ))

Meaning.. you will give away much more profit in the future when scalping just 1 tick

Your last post incorrectly attributes your quote to Matthew when it should be attributed to @hdrobi

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  #10 (permalink)
Markus
Frankfurt am Main
 
 
Posts: 32 since May 2010
Thanks: 2 given, 23 received



hdrobi View Post
Hi Matthew,

Here an example of what I traded this week, from monday to today:
109 trades (I trade exclusively MNQM22 - Micro E-Mini NASDAQ)

P/L: 1091.20 Euros
Commissions: 334.80 Euros
Net Profit --> 756.40 Euros
(deposit 10.000 Euros)


More than 1/3 of my profits are gone...

It's OK to pay commissions but as a scalper, I don't know whether scalping is a good idea.
But scalping fits my personality and I can not imagine to trade long term...

Tradovate: I didn't like the trading software. Is Tradovate available outside US? Option to use other trading platforms?

334,80/109=3,071 r/t so what? This is ridiculous c'mon
Are you talking about E-Mini or Micros?



AMP futures MNQ All in cost:

https://portal.ampclearing.com/account/commissionquote.aspx

109x0.94 with CQG order routing = 102,46USD vs 334.80EUR

Try Quantower or Multicharts that are both free or Motivewave/Sierra Chart (you have to pay a monthly lease)

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