Okay, after reading a little more about it I can ascertain that there are NO liquidity rebates! All trades must go through a clearing member: "Clearing members are highly capitalized, closely monitored and carefully selected companies that stand behind all trades made through CME Group. They protect buyers and sellers from financial loss by assuring performance on each traded contract. CME Clearing, through its members, serves as the buyer to each seller of a futures contract, and the seller to each buyer. All CME and CBOT trades must go through a CME Clearing member." If that is the case why would a trader or scalper get involved in the CME futures markets??? Seems to me that the clearing members have the same priveledge that the floor market makers used to have on wall street. I would love to be a clearing member, but would hate to be on the other side.
he was actually listening? ok stochastics do work. http://www.elitetrader.com/vb/showt...113113&perpage=6&highlight=gnome&pagenumber=5 1. The only "indicator" I use is the standard Stochastic. Reliance upon it is not heavy. gnome gnome says he made $100 million, how much he gave back or the govenment took or etc. is irrelevant, he survived the game long enough to make 5,000 posts here on ET. instructions for using stochastics from jack hershey are found here on ET learn to read volume and price action hot tip: use a sell stop every time, not only to save you if the market turns against you, but what if the power goes out or the internet goes down or your computer crashes.
first thanks, ill read jack hershey's posts. for the gnome post, didn't go through all of it but seems he is a swing trader so stochs work for him. on my limited experience scalping stochs tend to produce too much noise (and i've tried many combinations) but perhaps i'm reading them wrong (i'm mostly looking fo crosses)
which ETF did you use to trade. I've tried to scalp SPY and QQQQ for a while but didn't have a good experience...
I scalp SPY. The spread is usually only 1 or 2 cents with good fill time. It follows the SP500, just as ES does, so it usually has consistant wave action which makes for good scalping.
Okay, I'm still trying to understand you futures traders, ESPECIALLY a futures scalper. Why would anyone scalp a market in which they are forced to buy at the ask and sell at the bid???? It makes no sense to me. On a related note, how hard would it be for me to become a CME clearing member? It seems like a gig too good to be true!