I saw that too. If he finds out that you need no indicators for scalping he will bee even better !!!!!!
First, application fee: $ 2,000. https://www.cmegroup.com/company/membership/membership-and-lease-pricing.html Leasing a seat at the CME costs at this moment around $2,500 a month. You can then only trade CME at reduced fee, so no CBOT... https://optimusfutures.com/CME-Lease.php ES normal fee $1.18 reduced fee $0.47 savings $ 0.71 per trade. MES normal fee $0.20 reduced fee $0.07 savings $ 0.13 per trade. Break even point to recover membership fee each month: ES $2,500/ $ 0.71= 3,521 trades (not RT) MES $2,500/ $ 0.13= 19,230 trades (not RT)
Thanks for putting in all that effort, but wrong. All he needs is an IOM membership, can lease it for around 300 bucks per month. If one does not want to invest this amount of money in his trading career, he better goes back to flipping burgers.
The way the trade blotter works is confusing. I scaled in on one trade, as you can see with the connecting lines. I trade up to 7 micros at a time right now. I can trade all 7 on one chart simultaneously or spread that out over all four instruments (MES, MNQ, MYM, M2k).
Next 6 trades on the MES. 2 trades on the M2K. You can see the bottom trade matches the top one on the previous report.
Ah ok, I think that makes it more understandable now why you stick with the Micros and dont want to switch to the Minis yet.
The indicators are not my Mom. I don't have to obey them. They tell me the market conditions and I decide if I will fade them or go with them. I love to trade with no indicators at all, but because I am not 100% focused on the market most days, the trendlines and support and resistance lines I draw help me to quickly see the overall market condition.
Back to the first chart I posted - and speaking of indicators- The teal OBV line IS in fact below the price when I entered long on the first trade here. Good catch! But here is the thing with both OBV and CDelta-- they both give their signals several bars BEFORE price. And that OBV spike at #1 was my advanced warning that price might turn. I got two trades out of it. THEN I factored in OBV spike #2, again in a delayed fashion. I realized I needed to be careful on more longs. THEN I saw OBV spike #3, and used that to neutralize #2 and try the next two long trades.