If you catch the brokers in an honest moment... Just what kind of bait do you have to use to catch a broker in an honest moment....
I've been looking for a reason to use this.... <img src="http://www.pointlesswasteoftime.com/johncheese/files/hypnosis.gif"></img> Thanks for giving me one.
Although I have not yet figured out what all these bad brokers did to you, I have to admit I find your posts amusing. Thanks for the laugh.
where did you all find all the cool pictures- let me guess- you randomly came across them in your nightly search for internet porn?? happy whacking, gentlemen
Puffy. the playing field is leveling but not there yet. While I think Brandon's stats are a little out dated (cheaper commission rates have made more traders profitable), the floor still trades MUCH cheaper, and you can pick off orders too. Compare a guy in the S&P pit paying .10 for a scratch and a 1.60 for a net winner or loser vs. 4.80 on IB for ES which is a FIFTH the size of the pit contract. As cheap as IB is, the rates are the equivalent of $24.00 a one lot SP. WOW!! Plus as you know there is a plethora of times when a broker is offering 50's as someone across the pit is bidding 70, and a nimble local buys the 50's from the broker who doesn't want to risk going cross pit to hit the higher bid. At least a fifth of the S&P pit makes a mil a year(with a few guys at 5-20 mil). I don't think that a thousandth of home based ES traders make that kind of $
I was thinking of agricultural contracts which are similarly sized to the emini. Floor members for those contracts pay $1.30 to $2.40 to clear a side which is very similar to what a direct broker charges. There are certain economies of scale and cost advantages with trading the big S&P that don't carry over to the smaller contracts.