Hi, I primarily trade the mini futures but recently upped my size to 100-300 contracts a day. I can not find any brokers who can give me contracts for a dollar a side or so. Considering going directly to a clearing firm. Has anyone does this? Where do I start?? Any help would be greatly appreciated.
Globex fee for a customer is 2.28 and NFA is $.12 IIRC. You should be able to negotiate down to a reasonable margin on top of the fees. To get the member globex rate which will lower commission charges under $2/RT you will either need to lease or buy a seat. This may also have negative tax consequences for you because as a member gains are ordinary income. I'd suggest you talk with metooxx, who can probably give you some good advice.
Sammybea, If you dont mind me asking, what trading strategy do you use to trade your minis, like indicators do you use to enter or exit the market. thanks lightfoot
Hi lightfoot.. I believe i founds some methods that work for me. However they are not surefire, and i could not package them. To that end, i would not feel comfortable in posting them on a public message board. There are many others who have posted their methods, and you should try to take a look at all of them and see what works for you
I am thinking about plugging into the CME directly with one of their globex solutions and then getting a firm to clear for me. However, to get a managed circuit according to CME's website, i would be looking at 3500 per month for a T1 connect. Anyone have experience with this process? What are the pros and cons? I do know there is no customer support as a con. But how are the quality of executions?
Sammy, Your connection will be milliseconds faster using a direct connection than something like Jtrader. It may provide a little more stability but as you said there may be no support if anything happens.
Sammy, I have only found a couple who have given their methodology for daytrading the emini. All disclaimers apply, I would still like to know anything about yours you would be willing to share with the forum and a "beginner"like me. such as any reading material that helped you to be successful, etc. if you would prefer to do it privately, email at busytrader007@aol.com (not my main email)
Really? I would think i would need much more than that to have a quick stable connect. I am only running one computer for it. I appreciate the feedback. Can anyone else confirm that there is no difference b/w a 56k and T1 for one computer?