If you plan to scalp futures, I suggest not doing the ES. It moves very slowly and you will go batty trying to scalp it. The Russell 2000 and gold futures are much more conducive to trying to scalp. By the way, if you are Joe Blow trading retail out of your house in your bathrobe, scalping is not the trading style you want to use. You're going to need a professional commision structure which will require buying or leasing a seat on the exchange....you will want a top notch connection to exchange too. Maybe even trading from the exchange building if possible. Good luck, -T
<i>By the way, if you are Joe Blow trading retail out of your house in your bathrobe, scalping is not the trading style you want to use. You're going to need a professional commision structure which will require buying or leasing a seat on the exchange....you will want a top notch connection to exchange too. Maybe even trading from the exchange building if possible. Good luck, -T</i> Amen to that truth. Nothing kills fledgling retail trader careers' faster than trying to scalp emini markets. Fastest road to broke there is in our profession.
Just found the ET. very interesting site. could someone gives a few strategy on this topic besides software? tks,
Thank you for all the advice. Do you recommend any books on the subject? Also, do you think saclping is inappropriate and too costly for a novice.
I do about an average of 5- 10 trades a day on the min russel with good size. But I also trade 5 other futures markets, so I need the good execution. TT is the best in the business, combine that with a seat and a direct feed to the exchange and your at the top. I suggest starting with equities and working your way into futures, ie try to stay in the game as long as you can. It will take awhile to figure out your plan and what your niche in trading is. Some like swing, position, scalping etc. You need to find yours.
apex82: thanks, for the info. I got all my trading education slowly from different web site, and just found ET. all I have been trading are equities only; never get into future... therefor, many terms are very new to me. any sites you might suggest for starting future trading? Jan
with a pace of 5-10 trades in one market....I'd think that a "superior" connection would be slight overkill wouldn't it?...you did mention you trade other markets and you do size..so its possible you have several transactions per trade....but when i think of scalper...i think of guys doing at least 100 rt's in a day...that requires a serious connection