Newbie here,
I just recently found out about Bitcoin, got myself a MtGox Account and a couple of BTC.
I understand that BitCoin is not all about speculation, I've read quite a bunch of very interesting posts here and there, so this is rather about experimenting with the available tools.
Now that I'm a bit more familiar with the principles and that the rally has slowed down a bit, I thought I'd give a try to tracking the market and issuing small orders to account for local variations.
I tried to account for the 0.65% fee per trade and apparently failed to do so, as the fees have absorbed just about all my gains.
Here are the notifications I received by email:
You Sold 10 BTC for 18.89!
You Bought 5 BTC for 18.511!
You Bought 5 BTC for 18.601!
You Sold 10 BTC for 18.979!
You Sold 5 BTC for 18.919!
You Sold 5 BTC for 18.979!
You Sold 5 BTC for 18.919!
You Sold 10 BTC for 18.979!
You Sold 10 BTC for 18.97!
You Bought 5 BTC for 18.3!
You Bought 5 BTC for 18.3!
You Bought 5 BTC for 18.4!
You Bought 5 BTC for 18.4!
You Sold 9 BTC for 18.97!
You Bought 5 BTC for 18.4!
You Sold 15 BTC for 18.9!
You Bought 10 BTC for 18.3!
and here is the corresponding Mt Gox account history
Sold BTC 10 for 18.7673 -10 187.673 30.718 925.288
Bought BTC 4.97 for 18.6302 4.968 -92.555 40.718 737.615
Bought BTC 4.97 for 18.7208 4.968 -93.005 35.75 830.17
Sold BTC 10 for 18.8557 -10 188.557 30.782 923.175
Sold BTC 5 for 18.7962 -5 93.981 40.782 734.618
Sold BTC 5 for 18.8558 -5 94.279 45.782 640.637
Sold BTC 5 for 18.7962 -5 93.981 50.782 546.358
Add BTC xx 50 0 55.782 452.377
Sold BTC 10 for 18.8557 -10 188.557 5.782 452.377
Sold BTC 10 for 18.8467 -10 188.467 15.782 263.82
Bought BTC 4.97 for 18.4179 4.968 -91.5 25.782 75.353
Bought BTC 4.97 for 18.4179 4.968 -91.5 20.814 166.853
Bought BTC 4.97 for 18.5185 4.968 -92 15.846 258.353
Bought BTC 4.97 for 18.5185 4.968 -92 10.878 350.353
Sold BTC 9 for 18.8468 -9 169.621 5.91 442.353
Bought BTC 4.97 for 18.5185 4.968 -92 14.91 272.732
Sold BTC 15 for 18.7772 -15 281.658 9.942 364.732
Bought BTC 9.94 for 18.4197 9.935 -183 24.942 83.074
Sold BTC 7.54 for 18.7771 -7.543 141.636 15.007 266.074
Sold BTC 6.61 for 18.7772 -6.607 124.061 22.55 124.438
As far as I understand you get:
a 0.65% commission on the price you ask when you sell
a 0.65% commission on the price you bid AND on the coins you get when you buy.
I must say this is not really how I understand "0.65% fee per trade".
With the volume of trading that Mt Gox now has, I'd have expected a little more details, something more professional and more transparent about the underlying computations.
What do you guys think ? Is that normal and are there some other fees I should be aware of?
Cheers