Thanks Elite Traders Advanced Futures has been sponsoring Elite Trader for some time now and I wanted to express my gratitude for the feedback over the past year from the members and thank Baron for the permission to post this message. As we continue to pursue meeting our client's needs with our product line, I wanted to let traders know that we have created a new education section that allows traders to learn from professional traders. We call the new product line the Quantum Trading Program. We still have a ways to go prior to meeting our goal for the site, which is to not only provide brokerage solutions with leading products, but rather solutions that allow traders to succeed in the markets. We have affiliated with a leading advisory service who is widely used and known by floor traders, JS Services. JS Services has been around since 1984 and over the years primarily worked with professional traders and fund managers. What you will find unique about JS Services is their endeavor to make traders better, but they do not use HYPE or signals that are not tradable. We offer JS Services to our clients in our Platinum program. We wanted to express thanks to Elite Members for their feedback over the years, so over the next week JS Services is allowing us to offer all Elite Members a 1-week trial to their services. http://www.advancedfutures.com/cbot/default.asp I look forward to 2003 and my company is extremely thankful for your comments/suggestions and feedback over the years. Sincerely, Mark Hyman
You're welcome... Now, lets see you cut those commission rates like you mean it! Show IB who you are! $2 R/Turns on the ES !!
that is really an awesome setup. I tried JS Services before and liked them, but there fee of $400-$800 a month was too much. I like the setup for the platnium account. Do they do any additonal education besides the intraday chat?
Every Tuesday JS Services will host an online seminar for education purposes and go over trading tactics and technical analysis used for e-min trading. The event is hosted via a live chat and display, making it an extremely interactive educational tool. You can get details and an invitation by taking a trial on AF's site for JS Services. Let me know if you have any further questions. Mark
Noting that CME clearing house fees are $2.80 RT for ES (too expensive BTW), a $2 round turn is an impossibility. Even charging a commission of 50 cents a side, you'd end up with $2 a side when you include the clearing fee. You'd need many traders trading many trades to make money off of that rate. But then you'd be spending all kinds of money on staff and tech. AF has proven that. Now that they have more than 3 customers, their costs have gone up as well as their rates. IMO, $1 a side for commission (plus fees = $2.40 total) is the lowest you can expect for retail when you include the trading platform fees spread over a typical month's trading. No one is really going lower than that. I suspect thats a fairly hard floor in terms of commissions. If you are an ES trader who does volume, I'm guessing you can get closer to 50 cents a side. Which brings me to my question. Has an ES trader who does volume negotiated a lower fee with IB? I suspect some have, but no ones talking as of yet.
Yeah, I know there's not much AF can do ,because of the CME. But, when I see the rates that stock traders ( a buck for 500 shares) get, and option traders (a buck an option)-emini Dow traders ($2.50 a R/T), and SSF traders ($2.00 a R/T), I can't help but feel ES and NQ traders are getting screwed, by somebody.