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Interactive Brokers - am I worrying too much?
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Created: by lazarus Attachments:1

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Interactive Brokers - am I worrying too much?

  #11 (permalink)
Elite Member
Karlsruhe, Germany
 
Futures Experience: Advanced
Platform: MT4 , INVESTOX ( & owner of MC and AB))
Broker/Data: IB , MBT , Alpari , Pepperstone , Forextrading
Favorite Futures: FX SLV
 
LoboTrader's Avatar
 
Posts: 27 since Nov 2011
Thanks: 226 given, 13 received


lazarus View Post
@LoboTrader
Do you work for Captrader, or what? Thanks, but no thanks! Moderators?

@Bookworm
interactivebrokers.com. Easily verifiable... What's up with all the replies for the posting sake?

who was asking for help ?????

to everybody else than lazarus : #11 , first sentence

to Mods, I will send my ID to bigmike to make sure there is no anonymity in re to my person


Lobo

Do not trade alone
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  #12 (permalink)
Market Wizard
Switzerland
 
Futures Experience: Intermediate
Platform: Investor/RT
Broker/Data: IB / DTN
Favorite Futures: Futures
 
Posts: 4,103 since Feb 2012
Thanks: 3,773 given, 7,592 received
Forum Reputation: Legendary


GFIs1 View Post
Hi @lazarus

In my experience you do not need min. 10K$ to open an IB account...

translated: "Nach meinen Erfahrungen.."
nothing more to add.

GFIs1

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  #13 (permalink)
Market Wizard
Switzerland
 
Futures Experience: Intermediate
Platform: Investor/RT
Broker/Data: IB / DTN
Favorite Futures: Futures
 
Posts: 4,103 since Feb 2012
Thanks: 3,773 given, 7,592 received
Forum Reputation: Legendary


Experience & End of Year:
I want to talk about the process to open any banking/brokering account (no secret here indeed)
this is of course the very normal process.

1) You fill in the application forms and send it to the bank/broker
2) Waiting for approval
3) Getting an ok - plus a personal account ID (with securities)
4) Now you are free to put money and or securities onto your account
5) You want to begin to trade
EVERY trade depends on MARGIN rules of the broker - if fulfilled - the trade starts.
If you do not have enough base fulfilling daily or nightly / weekend requirements - your trade will not
be accomplished - or your running trade will be closed at daily closing time to the appropriate price
BEFORE the margin requirements are going to change ;-)
So NO real starting restriction will appeal except these from the margin depending on the instrument.
With IB the very first car has a HIGHER margin (initial margin) than every following car. This prevents
you to be stopped out because of the ALL IN on the first car when price is moving against you.

So you might start with any cash / and or securities - but when it comes to trading - ONLY the
actual account balance will tell if you can enter a trade.

Happy New Year
GFIs1

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  #14 (permalink)
Market Wizard
Switzerland
 
Futures Experience: Intermediate
Platform: Investor/RT
Broker/Data: IB / DTN
Favorite Futures: Futures
 
Posts: 4,103 since Feb 2012
Thanks: 3,773 given, 7,592 received
Forum Reputation: Legendary

Homework for Future Margin Requirements

There are mostly TWO groups of futures traders:

1) The one with the small capital - trading ALL in on every trade
2) The trader with a restricted risk managment (here 2% risk of capital)

What capital is needed if you DAY-TRADE the DAX or the YM?

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).


As we can see - for a proper capitalization we needed a total capital deposit as of today for a Day-Trade only
1) for small capital a minimum margin of
a) DAX: 8'975 EUR
b) YM: $ 1'563

2) for a 2% of total risk setting
a) DAX: 448'750 EUR
b) YM: $ 78'150

Everything is based on the risk a trader is taking for the FIRST trade to start.
First note - that night and over weekend (IB) margin requirements are more than doubled to the intraday rules.
Second Note - with every trade the trader is lending and risking money from his broker - otherwise a leverage would
never be possible.
As long as the trader is making positive results - the margins are not affected - if not: - leverage counts

Conclusion:
Please do carefully your homework before depositing ANY sum and before you attempt to throw in
your hard earned money into the volatile markets.

GFIs1

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  #15 (permalink)
Elite Member
Nanaimo
 
Futures Experience: Intermediate
Platform: IB+API
Favorite Futures: ES, CL
 
Posts: 37 since Dec 2012
Thanks: 14 given, 10 received


lazarus View Post
Hi all,

So, as you can see, I won't trade very actively and won't be spending $30 on commission for the month for sure.
I am worried that on my $10k capital, $240/year in commissions is too much. That's 2,4% cost of doing business.
If I am aiming or let's say would be satisfied with 10% yearly return, that would drag it to 7,6% before tax, which after 28% capital gain tax (Germany) is miserable 5,4% net return.

So basically, in order to make a 10% net return, I would need to make a yearly gain of 17% (comm. not incl., and modify/cancel fees not included), which is I believe very hard to achieve consistently.

What are your opinions, am I over-thinking this or worrying too much?

Thanks!

Exactly that, I think you're over thinking it too much. There are costs associated with trading, and IB's are some of the lowest, depends on what/how your trading. Penny stocks would be cheaper elsewhere.

What instruments are you planning on trading?

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