You don't pay the price of a future up front. When you close the position, you are charged the net loss/receive the net profit. I have noted that in IB's statements, the realized P/L column includes both the commission charged opening up the futures position and the commission charged closing down the futures position. But the commission for opening up the future position is charged when you open the position, correct? (It has consequences when you have to translate the profit/loss to a different currency to pay tax.)
Commissions, exchange fees, clearing fees, regulatory fees are considered Transactional fees. in the US and at most firms around the globe, futures transactions are charged half of the total when you initiate a position and the other half when the position is offset, either by a direct order to the exchange, financially settled or delivered. This could happen on the same day if you open and close your position or on different days if you maintain open positions. Every country has it's own tax laws, so whether you are taxed on gross gains or net gains , or are able to write off losses up to a certain level, you will need to consult your local tax laws. Yes all fees are charged in U.S. Dollars at U.S. Exchanges As for IB's statements the transactional fees are calculated in the realized portion of a statement whether gain or loss, This should be standard among most Firms.
Hi there CannonTrading. Curious, do you ever advertise any of Cannon's systems? I see your company has many that are profitable. https://www.cannontrading.com/futures_tradingsystems/
Hi @mikeriley and thank you, we do not advertise the systems specifically as we feel prospective clients need to have a basic understanding of futures trading risks etc. before considering systems but we do share with clients and prospects who have interest to learn more about systems, drawdowns, opportunities and risks.
We do try to post daily support and resistance levels along with other valuable information on this thread here: https://www.elitetrader.com/et/thre...uable-info-for-futures-traders.350118/page-45