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Title: (Day Trading) Keeping track of MtGox transaction fees. Post by: BitFun on February 07, 2012, 12:43:21 AM Hey all,
So I'm fairly new to day trading and something i'm having trouble with is keeping track of the fees that come with transactions on MtGox. I attempt to calculate the fee costs before making a buy/sell to be sure the profit will cover it, but somehow i keep coming out negative due to fees. Can anyone help me out with this? Or in short, how can i tell how much of a gap i need in buy/sell price to make a profit at a .60% trade fee? Title: Re: (Day Trading) Keeping track of MtGox transaction fees. Post by: RandyFolds on February 07, 2012, 12:51:47 AM Hey all, So I'm fairly new to day trading and something i'm having trouble with is keeping track of the fees that come with transactions on MtGox. I attempt to calculate the fee costs before making a buy/sell to be sure the profit will cover it, but somehow i keep coming out negative due to fees. Can anyone help me out with this? Or in short, how can i tell how much of a gap i need in buy/sell price to make a profit at a .60% trade fee? Make sure the spread between your sell price and buy price is greater than .6%... Title: Re: (Day Trading) Keeping track of MtGox transaction fees. Post by: anonymous5050 on February 07, 2012, 01:30:37 AM Its actually 1.2% for low volume traders because you get hit with the fee when you buy and then again when you sell. You will show a bigger profit per trade on smaller exchanges because of their higher spreads, but the action wont be as fast as it is on mtgox. I like intersango's interface better than gox for daytrading because it has the open orders on the trading page.
Title: Re: (Day Trading) Keeping track of MtGox transaction fees. Post by: Jessi on February 07, 2012, 06:52:18 AM You can try the Tool on http://www.bitcoin-tools.de (http://www.bitcoin-tools.de) (at the Bottom on the first Page, there is a Link to the early Alpha of this Tool).
I had sometimes the same Problem and needed a calculator for it. There may some bugs inside, please feel free to report them to me. Anyway it should help you to find out how big the gap is. ;-) Title: Re: (Day Trading) Keeping track of MtGox transaction fees. Post by: BitFun on February 08, 2012, 01:13:17 AM Hey all, So I'm fairly new to day trading and something i'm having trouble with is keeping track of the fees that come with transactions on MtGox. I attempt to calculate the fee costs before making a buy/sell to be sure the profit will cover it, but somehow i keep coming out negative due to fees. Can anyone help me out with this? Or in short, how can i tell how much of a gap i need in buy/sell price to make a profit at a .60% trade fee? Make sure the spread between your sell price and buy price is greater than .6%... So i just take 1.2% of the usd I'm spending and make sure I'll profit more than that, correct? Title: Re: (Day Trading) Keeping track of MtGox transaction fees. Post by: RandyFolds on February 08, 2012, 01:29:03 AM Hey all, So I'm fairly new to day trading and something i'm having trouble with is keeping track of the fees that come with transactions on MtGox. I attempt to calculate the fee costs before making a buy/sell to be sure the profit will cover it, but somehow i keep coming out negative due to fees. Can anyone help me out with this? Or in short, how can i tell how much of a gap i need in buy/sell price to make a profit at a .60% trade fee? Make sure the spread between your sell price and buy price is greater than .6%... So i just take 1.2% of the usd I'm spending and make sure I'll profit more than that, correct? Correct. In my previous post, I forgot about the whole getting screwed from both sides thing...so .6% on each side of the trade. Title: Re: (Day Trading) Keeping track of MtGox transaction fees. Post by: BitFun on February 08, 2012, 01:31:04 AM cool, thanks!
Title: Re: (Day Trading) Keeping track of MtGox transaction fees. Post by: Serenata on March 16, 2012, 11:35:04 AM Need to take into consideration the deposit/withdrawal fees as well (if you do that often).
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