If you are leasing a seat, are you talking about IOM? Also is it true that if I trade under corporation, I need to lease at least 2 seats?
I lease seats in all USA futures exchanges, I have small staff and automation, I had someone who stays on top of keeps me legal and sane. I am not all that bright any more and often wonder if I ever was, LOL. I just concern myself with trading and system development, oversee staff on weekly basis as I have staff manager for daily and account staff, long term commodity trading overseen by three gals that just got increased first of the year as I am slowly going into a different direction in trading, one gal been with me since 1994 as that is when that system was first programmed to give printout for signals, recently had completed only third reprogramming done in 22 years of adding different way of entering based on a pattern I discovered on intra-day charts. My interests are wavering from the actual manual trading to want eventually have 100% automation. It not a matter of lack of discipline but I want to do other things in my life, I still love playing the game, but why sit for 3-4 hours looking at more charts when machine can do it for me and much faster. It just getting tougher for day trading for me, volume seems to waver, even the first hour. I always thought long ago I be trading 1,000 lots but really not practical, and reason is when doing back testing you want uniform volume and if you can't have same volume on each trade, results will become distorted. So on signals where price just takes off, I be getting into 1/3rd but when I get losses, of course not only get full volume and ave down would be full losses. If I was trading SPY and doing 5k shares there be no problem of doing first 60 minutes as that represent usually no worse at 7% volume per minute, but ES on one minute timeframe 1,000 lot can be on some minutes half the volume which tells me by doing ave down, market lacks getting out decently and cause own slippage.
I want to do much more very long term commodities trading along with options on futures. I been doing spreads last three years and I even hedge those now in case spreads don't work out. But am doing much more directional stock/ETF option trading as recently finished programming my 2nd system, first one was ok but way too may trades of daily bars, so am on monthly/weekly. Options are more fun cause it is just studying how to balance risk but based on chart patterns and always a story of where the most are going to get trapped. And the occasional "let's screw the uneducated" of where calls are hugely discounted and Puts have little Prem.
I tend to study trading much more now before considering back testing. I mean I have a great deal on my list of possible new ways to look at price, but I don't want guys that program for me to take some dumb idea I had four years and spend three weeks trying to make it work. Usually best ideas I have come up with has been through mistakes, LOL So it is a great deal of hands on.
I get great number of folks asking me what they should do cause they at work and want me to give them ideas, more like completed system to make them rich, but they have no idea about charting, if it was that easy. Nothing is ever when X crosses Y and have an always in system.
Today is Doomsday April 15th, and next week reduction of folks dumping monies into 401k, Roths and IRA, so start of the dulls and lighter volume possible.
