10,000 RT's per month is NOT big volume on an equity futures volume, not for a professional scalping who is looking for 1 or 2 ticks. I typically make 100 trades (in and out) per day and trade 20 days per month. so that is is 2000 trades (in and out) per month. You would only need to be trading a 5 lot to do that 10,000 monthly RT's so I stand by what I said if you are scalping for 1 or 2 ticks then 10,000 monthly is chump change. Consider how much margin I would need to put down to trade 5 lots, like $2500, that is chump change. Now I respect your post because you had no way of knowing I typically trade 100 times per day. If you are momentum trading or looking for longer plays then 10,000 RT's is not chump change. good trading to you
To be exact, 10.000 ES has a nominal value at the moment of ABOUT (i take the September month at the moment) 676.25 million USD. 1 US, currently last at 1352,50, is a nominal value of 67625 USD. So, your "small volume" is nearly 34 times higher than the volume in US stocks you are so proud of.
I always knew that sometimes the lowest intelligence trades. Yes, $1RT. PLUS COSTS - which is the exchange fee. Now, first intelligence test -you REALLY think the costs for FDAX trading are accounted for in USD? Hint - we have the Euro here. Second, Eurex has no exchange membership level And the costs are quite - ah - high pe rround trip. What tricks you - and that is normal for people that find reading a cash receipt at McDonalds challenging - is that it is quite common in futures to quote costs as "broker costs" to which the third party exchange costs are always added. So, yes. See, I can get ES trading for 1USD per roun trip without even negotiating at zero volume. I can get it for 60 cents per roun trip (actually 58) with volume without negotiating. Sadly that is without exchange cost, without trading costs (i.e. the network transporting your orders). This is extremely common in Futures - because you can determine exchange osts yourself (member or not) and you can determine the the trading costs youertself, too, by choosing the right technology platform for your needs. Now, sorry, you obviously got a little confused with this little fact, coming from stocks and so.
Okay but no one allows you to negotiate the exchange fee. It is what it is. A prop firm won't let you pay less than what is suppose to be paid. I know of places where you could get $0.30 commission or lower per roundturn if you do 10k for the month, but you then just have to worry about exchange/clearing fees, which is by far the larger cost. Again, the easier way to do this is to just get the seat yourself as the prop industry in futures is very different from prop in equities. You aren't allowed to accept deposits from people in futures prop.
kid: You can do it (get really low costs) if you have friends inside an FCM, but the account will probably not be in your name, and your funds would be controlled by the FCM/other people. The only way is to have your own clearing firm (FCM or non-FCM clearing is cheaper), and then the fixed costs and overhead get high very fast, but you get full control and low costs. Back in the day, Tom Baldwin had his own CBOT clearing firm just to clear his own bond trades and those of his few clients.
durrrr maths check. fail. think you were off school they taught maths lol so now you are comparing 676.25million in notional value to 20m traded shares. ha ha ha ha. you come on here all high and mighty and you cant even compare apples with apples. lololol 676.25million notional value cannot be compared with 20m traded shares, I guess if you knew the stocks I traded you could work out the dollar volume if you wanted. look you clearly are out of your depth here. notional volume means jack anyway, why do you think they call it 'notional' clues in the question! this is why I trade against liquidity monkeys like your good self, you see you have a little knowledge and think you know everything and you are just my liquidity monkey in the market. lol. read my example above. trading a 5 lot in and out the market 100 times per day is not size.
DO not tell him - someone with his mental capacity may think he can then pay 1 cent round trip and not bother with the costs and will try to do that. It is not cost efficient, you get hit with tons of damn regulation. The best is you can negotiate - above 10k RT you may get to below 50 cents round trip, but that is it then. Breaking 40 will be hard. Plus obviously trading network costs (Rithmic is 10 cents per side).
lolol so in the space of a few posts you have now changed your mind, now you are saying 40c per side is possible. perhaps an apology would be in order, calling me an idiot saying 1 USD is not possible then a few posts later saying you can do 40c per side.
No, I always said WITHOUT costs. On top of that you add trading network, and - ah, right... EXCHANGE FEES. You will get 40 cents, plus 2 x trading fee, 2 x exchange fee. And that will blow your USD limit, because for a member that is - .345 per side for the ES, which is roughly 0.7 already, plus you need a technology provider to trade. WHich then promptly puts you up above your limit again. But it is normal in futures that the FCM quotes only HIS fees. And THAT Is where things get confused - it is a little more complex than the "yes, supersize the Bic Max Menu for me please" that you are used from your normal business transactions. Come on, do not come off as the stereotype dumbass, you can do better, it may require a little attention. For those which can read: http://www.dormantrading.com/tradingServices/cmeExchangeFees.aspx