justforgroup
Registered User
- Messages
- 22
OP your calculations appear to be incorrect but saying that the Irish market is to illiquid to do short term trading
Long term investors should take annual cost (€60-100) into consideration.
Is there ANYONE on AAM who can put their hand on their heart and say they have made a decent living out of trading?
I cant seem to find any reference to this anywhere. Is this done by your broker or do you have to claim it back yourself?Shares purchased on the Irish market and sold within a 10 day period can have the stamp duty refunded.
Yes, if there is no refference, i think broker should refund the money. When it comes to trading, one of the most neglected subjects are those dealing with trading psychology.
Given the costs below, I find it hard to believe that the little (Irish) guy can make any money trading? Is it really a fools game? It all seems exorbitantly expensive?
Costs:
Per trade+VAT@12.5% (using TD Waterhouse standard rate): €22.50
Irish shares: Stamp duty @ 1% of transaction value
UK shares: Stamp duty @ 0.5% of transaction value
Capital Gains Tax @ 25% on profit
Income tax @ 20%/ 42% on dividends
So a simple example (note that these costs are PER TRADE)
Buying 100 CRH @ €10 will actually cost you:
€22.50 + €10.23 = €32.73
Selling 100 CRH @ €15 will actually cost you:
€22.50 + €15 + ((1500-1032.73)*25%) = €154.32
So CRH would have to rise by almost 19% merely to pay the €187.05 in costs!?
Does anyone really make any money trading or are they just ignoring these costs?
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