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A little background before I dive into the topic. I am a discretionary trader who only looks at the ES, ER2, NQ - MD Trader windows on my TT workstation. I do not use charts. My objective is to be positive(profitable) everyday. I trade often and take my losers quickly! The examples are...

Broken? Do you mean it is in a bearish cycle? Or that the index is loosing relevance?

I bought my GEM seat at the beginning of April. It was the best thing I could have done.

no the total is a total!! the excel spreadsheet I use to breakdown the day shows me what my average size is. so i make between 30-150 trades a day. sorry for the confusion.

around 8 contracts per trade --- sometimes more sometimes less

I disagree. It does come down to commissions for any trader averaging more than 50 contracts a day. Lets take a trader averaging 100 contracts traded a day. This trader would save 1800 a month! That is 21,400 saved a year. A trader has to be profitable before he has to worry about taxation.

My accountants clients are primarily traders. He understands the business. He was an options trader before he did taxes for traders. Thank you for adding your opinion about the topic. It is helpful that all the traders on this board understand all the costs/benefits of CME...

The following comments are in regards to discretionary trading. The examples are based on futures trading using Trading Technologies as the front end. The clearing firm sets max position for the trader before the trading day To gain "willpower/discipline" the trader has to have the...

What is the rate for self employment tax?

The S&P pit has no relevance anymore. All the business is in the Emini.

He has a Doc from University of Chicago. I do not. He has millions. I do not. He has a big vocabulary. I do not. He still is a gun slinger!!! I am not!!! Remember what strategy destroyed his account in 1997. He sold naked puts on S&P 500 futures. What position made money in the last...

I give my info to my tax guy at the end of the year. The only thing I know about taxes is that the more taxes I have to pay the more money I have made!!!!

No you do not have to incorporate. I think the application fees run between 1000-1500. The clearing firm you decide to trade thru will help you with the paperwork.

http://www.advantagefutures.com/ The speadsheet shows the monthly expenses for a leasee. Look at the bottom left side of spreadsheet. It includes lease payment of 900 and 800 for TT.

What do you think your average volume per day will be? If it will be above 50 sides(25 round turns) you would be adviced to lease a seat at the CME. http://elitetrader.com/vb/showthread.php?s=&threadid=71131 http://www.advantagefutures.com/

Best advice is to not trade. If your week has already been good sit today out!

I have noticed over the years that a majority of the traders on this board pay retail commissions. I have attached a spreadsheet that clearly shows that if you average more than 50 sides(25 round turns) a day and pay IB rates which are $2.4 a side you should lease a seat at the CME, and open an...

http://www.cme.com/clearing/clr/fees/lessememp1870.html Index Products N/A round turn($0.92) clearing fee($0.21) globex fee($0.25) globex fee cap per day($50.00) E-mini Equity Index Products N/A round turn($2.28) clearing fee($0.39) globex fee($0.75) Tell me what your...

Explain this! I think your info is false.