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between the S&P and Dow futures. It seems to be pretty arbitrary when the program goes off and on. Dow just made a new high and the S&P went down. Seems as if after 630-7 am the arb is pretty selective as to when it goes off and when it doesn't.

In my opinion a per order cancellation fee is designed to eliminate the little guy from trading. A 1 dollar fee won't eliminate spoofing, messaging or anything else. Totally meaningless. The local is being priced out of the mkt. Somebody flashing huge size doesn't care about a buck...

Is this cancellation fee per order or per contract cancelled?

I can't find it on the CME site, anyone have a link to it?

I trade the extended hours and it can be brutal if you fight them. You just have to be able to recognize the people who execute them.

could be more of the same today.

NO he' s been a local forever. He was in the pit for 10 yrs and then moved to screen based trading. I didn't ask him why he thought the way he did but I"m assuming its the nonsense that goes on alot. What is good is that when volatility picks up they all have their tales between their...

I was speaking to a guy i know who has been trading for 15 years or so and we were just talking about the trade and market etc. and he said "People are getting sick of all these prop shops and arcades popping up everywhere, they have infected the exchange like the flu" I laughed pretty hard...

My bank account says I dont need to take them time to defend myself.

YOu are very defensive and lack self esteem. I couldn't care less what some guy who i'm never gonna see again for the rest of my life thinks of me or my occupation.

I was in an airport waiting for my flight drinking a beer and started talking to this guy next to me and he asked me what I did for a living and I replied "I trade futures" He turned to me and said "So you're not contributing at all are you?" Sad but true.

Is the TT product the defacto standard in trading? I know alot of people use it by what does it offer that is so great that 50% of traders use it? Speed? Ease of use? I'm just trying to understand what it offers vs. globex that makes it worth paying so much more. Any insight is...

I never used them, I had it through my clearing firm. A friend of mine who owns his own landscaping company has a family plan and he was paying the same for him, his wife and his kid as I was paying for just me. He never had any problems and his wife gave birth as well.

Just thought I'd pass this along. If any of you are buying health insuarance through your clearing firm or a private insurer check out the National Association of the self employed. It's much cheaper than the other alternatives. Hope it helps somebody.

IF you have enough money to do it then do it but I wouldn't plan on making a floor job a career. They will be gone. Try and hook up with a firm that has a computerized trading division because that's the futures. The floor traders days are pretty much over.

He got fined because he didn't have the money to cover the trades and it puts the clearinghouse on the hook for the dough. You don't put the exchange or the people that clear your trades at risk of losing money otherwise you can do pretty much whatever you want.

It's not like a retail account -you can put in as big an order as you want.

correction- If you don't have the money the exchange would fine you so if you have the money in the account it's considered a good order.

Actually if you don't have the money in the account to cover the trade were it ever executed the exchange won't do anything. A couple years ago before the mini's became the lead contract a guy loaded the book with bids and the xchange fined him 20k for his trouble.

I mistakenly thought I read it on their website but I realized they are no different then any other house out there.