If you catch two pennies on a 5 penny daily range is about $70 to $80 after commissions at most houses. With daytrading margins at 25% ($125 per contract), dude thats a 56% ROI, in one day. Ten contracts makes you $700 with $1250 committed in day margins. I trade Corn everyday; including today's 10 cent drop after the open. Can a brother get 2 out of 10 pennies? Yes.
Direct Access order entry to Corn pits is a misnomer. Orders may be placed and reported online but day-corn is still executued in the ring. Speed of fills reported back depend largely on your brokers desk (equipment) and their men on the floor.
Sorry about my zeal, guys. I'm just really excited about trading futures, corn futures and the rest. Thank you very much for the replies you've all given so far. Brother Sam
Hey Skalpz, If your making huge gains in FX and love the leverage, why the interest into new markets??
Advancing myself as a trader. And because I think I could do well trading futures. But, it's cool, this is not about me, it's about how to best access the futures markets.
If you want to get your feet wet in futures, why not start with currencies since you already trade fx, the mechanics are pretty much variations on the same across all markets.
IB has electronic crude mini futures (QM), 1/2 size of CL, no grains as of yet (but I think quotes are available).