Have I got my commission calculations right?
Have I got my commission calculations right?
Hi all, new trader here on a paper account. I wanted to check this is correct please 🙂
-Paper Account set up on Trading View with £10k Capital 1:1 so no leverage (to keep fees down…good idea?)
-Trading BTCUSD on Coinbase, so <=0.4% maker, <=0.6% taker. I have set my commision % in the paper trading at 0.5% to be approximately accurate.
-So here\’s the question now… When I enter a position with 0.1x BTCUSD the transaction fee at 0.5% is £38.60 (£96484.00 Bitcoin price x 0.1 x 0.5%) Assuming I close the position, I will be charged another £38.60, so £77.20 in total fees for the trade. This means I need to make more than £77.20 in the trade to make a profit…
Is that right? Just asking becasue the whole price action move today in total from Highest high to lowest low is £181.00, which would mean I would need a significant move to even break even…?!
I have been learning to profit from small market movements and quick trades, but this isn\’t workable if the above applies. Any guidance much appreciated!
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