I am looking to use tradestation to scalp trade the Emini dow, nasdaq and single stock futures with $10k using tick charts and automation (system trade). Does anyone think it's wise to scalp this markets in this bad economic time that we are in with $10k? Also, i want to lower my commissions, so how could i rent a seat at the Cbot & Cme ? Thank you
A good friend of mine might have a seat to lease, or know someone. Send me contact information for you to: david.madison@madisontechnologies.com and I'll forward it along to him (he has a seat, and has leased it out).
You might be better off buying a $10K T Bill and paper trading for six months before you consider leasing a seat!
You don't NEED to be on the floor if you lease a seat. The only time this makes sense if you don't plan on being on the floor is if you do high enough volume to the point where the cost of the monthly lease plus the reduced rate of commission is less than what a regular retail broker would charge. With a 10K account, it would be VERY hard to do that kind of volume and be profitable. check CME website for costs and then do a benefit analysis. good luck.
Any current or former floor trader knows better than that. Owning or leasing a seat doesn't mean you have to use the floor. Plenty of CME/IMM/IOM/GEM members have a seat just to trade on Globex at the very low member fee rates.