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I first have to say that I truly enjoyed reading this thread. NihabaAshi comments have been educational and fast&furious honesty has been very helpful. The analogy I would like to use is a sports analogy. Lets say we were talking about baseball and all of us played different positions...

I also am a tape reader. The only thing on my TT(Trading Technologies) workstation are three MD order books ES, ER2, and NQ. I primarily watch ES-ER2. I do not subscribe to a charting service. If I need to reference a chart a delayed Futuresource chart is just fine for me.

I trade emini futures. Sometimes I will make a couple of ticks sometimes a couple of points. There is more than enough intraday movement to get on some decent moves. The key is not what I make, but what I lose. Hopefully by the end of the day all my losers are a couple of ticks.

Tommy One thing you will find out quickly is futures brokers will give you as much intraday leverage as you want! They will even FedEx the noose if needed!

Exactly. That is why it is easier for me to cut a check every Friday. I could not swing trade.

250-1000 is # of trades. This is not my weekly volume. If I am trading 1 lots my weekly volume would be 250-1000. If I am trading 5 lots then my weekly volume would be 1250-5000. I am providing the # of trades I make in a given week to show you my activity. You say you are a swing trader...

The problem with doubling down is not with the specific trade you are doubling down on(assuming you do not blow out!!!). It is the fact that you are changing you trading style because of one trade that got away from you. Trading is a game of averages over a large amount of trades. When you...

Take it easy. I was asking because if you make a lot of trades it might be in your best interest to go with a professional clearing firm. http://elitetrader.com/vb/showthread.php?s=&threadid=71131

How many round turns will you average a day.

I just noticed in another thread you say you are a "swing" trader. I am a scalper/active day trader. Basically I take whatever the market provides me. I only daytrade. I never hold anything overnight. This is the reason I am able to pay myself every week. On any given week I will make...

It is part of my business plan to pay myself every Friday. Every Friday I wire money into my bank account. This habit reminds me that trading is a job. I do it to pay my bills. I have found from experience that it is not a good idea to keep profits in my trading account. In the past I...

You are not nuts. However if you plan on putting more than 25,000 in a trading account at the beginning you are going to lose! You are going to lose money at the beginning. This is a fact of every new business. You will get depressed, angry, etc. You will probably have a couple of...

The problem with the double down approach is if it works!! Once you have tasted crack you will always find a way back!! What I mean by this analogy is if you make money by making a gamble your trading system or plan will gradually or quickly change from something rational to a roll of...

http://www.cbot.com/cbot/pub/cont_detail/0,3206,1042+40879,00.html#1 It looks like the clearing fees for leasee to trade interest rates at CBOT is .20. I tried to find what a seat is leasing for and could not find the info on CBOT website.

Just so you know. You will have to pay $1100 to the CME to lease the seat. It is an application fee. Then when you purchase the seat you will have to pay $300 for the purchase application fee. If you purchase right away you will eliminate the $1100 fee.

Covert is right you should look at Advantage Futures to clear your trades if you are going to lease a membership. If you call them they will be happy to answer any of your questions. They will walk you thru the leasing process and drop off the paperwork and checks to the CME. You do not want...

As an active trader it is still important for me to pay attention to the weakness of ER2. For example if I attempt to buy "highs" of a range and I am wrong and ES goes offered ER2 bids will vanish and I will be looking at a 5-10 tick loser.

My comments were far from a theory. My point is watching ER2-ES spread is very useful for intraday movement.

When I read this quote at first I was a little offended being described as a serial killer. Then I laughed at such an absurd analogy. Then I realized to my astonishment that he is right! I am a serial killer!:eek: If you truly want to scalp I have attached some comments that I have made...

This is a good suggestion.