Futures Day Trading

Discussion in 'Index Futures' started by streetprodigy23, Jun 16, 2006.

  1. Yesterday I had posted asking in the "Career Trader" Forum about Futures day trading. I didn't know that there was a Futures Forum to post in so I will ask the same question here.

    Basically I have two questions.

    1) I have come across a chat room that offers Futures day trading picks. Its called millennium-traders.com. The performance is what got me interested in futures day trading period. Has anyone ever heard of or used this millennium futures chat room and if you recommend them?
    2) I need a good solid Futures broker, commissions that aren't too high, good service and nice platform, any suggestions?

    Please help me out here, in my other thread nobody answered these questions at all.

    Thanks for your help.
  2. Pabst


    Be careful of "pay site" chat rooms. For a broker try Velocity Futures. They're a sponsor on this site with excellent recommendations and reviews.
  3. Do you like their platform?
  4. lwlee


    I've tried a number of realtime advisory services. I've been disappointed in every single one. I suggest you take their trial period and verify that their calls are for real. If they don't have a trial period or even worse, they ask you to pay for one, pass on it.

    Right now, I use Traders Audio w/Mike Kuta. I DON'T trade his calls. In fact, if anything I would fade him. The real value is the pit noise and his commentary on what the major players are doing in the pit. I needed something besides CNBC to keep me involved actively, otherwise I felt I was isolated from the action.

    I don't regret going through all the services that I did. For one thing, most of them were on free trial or if I paid, I cancelled within one month. What I did get from these services was an invaluable learning experience. Each service used a different TA technique which I added to my own knowledge. I learned that no method was absolute. By watching the price action on the charts every single day, I am confident I can identify high probability setups. Recently I had a nice run of 36 consecutive profitable trades.

    I use IB. For a backup, I was considering using Tradestation or MBTrading. If Velocity or Global Futures had better online account management I would consider them as well.
  5. What do you think your average volume per day will be?

    If it will be above 50 sides(25 round turns) you would be adviced to lease a seat at the CME.