Scalping Futures

Thank you for all the insights. I maybe forgot to mention that i tend to use Market orders more rather than limits and I've been doing very well so far on the live account(Up 5%). I understand the concern of slippage, but if you're trading proffessionally and you're serious about this bussiness, such a thing like "slippage" should NOT govern the entire structure of you're trading system. It is a pain in the ass not getting filled i can confirm that... However it's not nor should be an excuse... We're traders for crying out loud... You don't get filled? Guess what? Adapt and FIGURE out a way to get filled! or simply lower your expectations...

As for scalping, the ones who a proclaiming scalping as "Impossible" or "Energy draining" are those who attempted it, got kicked in the mouth, and GAVE up; or maybe they attempted it and never figured out a way to make a consistent profit from it. Whatever you methodology is in trading, if loosing big ticks isn't part or atleast a scenario of your strategy, i think you're in the wrong bussiness. This isn't legos we're playing. I have negative Ticks atleast 80% of the time i scalp...The only difference is i ACTUALLY USE them as part of my written plan. Be professional enough to put in the work... or keep blaming the HFTs.. It's your choice..
I personaly only scalp for 1-2 hours throughout the trading day.

For the commissions and cost of trading... What's the Big deal?? If you have a high(90%) win ratio, and manage to bring equilibrium with your loosing/Winning trades (E.g: You win Max $100/Loose max $100 trading 2 contracts) the last thing that should come in mind is commissions wether you're scalping or not. Owning a seat would surely help but if you're prepared and expect the worst case scenario at all time, the only factor to worry about is Taxation and maybe IT, in case your electricity goes out.

...Or maybe i'm missing the bigger picture from scalping too much :D

Don't get me wrong i appreciate and learned alot from reading these inputs and i hopefully we can better each other through discussions like this :)

Feel free to share your inputs and thanks again;

Happy Trading,

Ramses.
 
Ramses said:
As for scalping, the ones who a proclaiming scalping as "Impossible" or "Energy draining" are those who attempted it, got kicked in the mouth, and GAVE up; or maybe they attempted it and never figured out a way to make a consistent profit from it.
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It's not that at all. It's quite sinply that I've got better things to do than be chained to a computer watching every single tick like some kind of DOM-addicted rat. Time is money.
 
i960 said:
It's not that at all. It's quite sinply that I've got better things to do than be chained to a computer watching every single tick like some kind of DOM-addicted rat. Time is money.
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I can understand where you're coming from- however you can snatch a few $100-$1000 from the Dom here and there if you fully understand it's very basis and nature. I don't know about you but that's a fair deal to me for a short time frame. Time is indeed money my friend :)
 
Ramses said:
I can understand where you're coming from- however you can snatch a few $100-$1000 from the Dom here and there if you fully understand it's very basis and nature. I don't know about you but that's a fair deal to me for a short time frame. Time is indeed money my friend :)
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After trading a few decades, time is more of Quality of Life and much less so of money.
LOL, I found it funny someone saying "For the commissions and cost of trading... What's the Big deal??" tells me you not trading size. You get to a point where a buck can add up to giving a brand new corvette each month to your broker and you riding a moped.
 
Ramses said:
I can understand where you're coming from- however you can snatch a few $100-$1000 from the Dom here and there if you fully understand it's very basis and nature. I don't know about you but that's a fair deal to me for a short time frame. Time is indeed money my friend :)
More...

Based upon the time frames you describe in your posts, I think it's way too early to proclaim victory over the markets and anoint yourself God of scalping. If what you're doing holds up over time, ( like, for a few years ) then go ahead and crow about it - deservedly so. Great start, but some hubris and realism would suit you young SkyWalker.
 
Manuel said:
Your commission structure seems high, have you considered a CME membership?
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Yeah definately; I've made enough profits to lease a seat for a while with my broker, since the membership process takes some time (A CME agent told me). Low Commissions help my profits, that's about it.
 
I checked the CME membership website. It seems we can apply for membership, by filling form and submitting passport copy, $2000 application fee. However, I also saw membership for sale at about $500K.

I am curious, why people willing to buy membership for $500K, while you can apply with $2000 fee. Any thoughts?

Ramses said:
Yeah definately; I've made enough profits to lease a seat for a while with my broker, since the membership process takes some time (A CME agent told me). Low Commissions help my profits, that's about it.
More...
 
CME is terminating many volume incentive programs in December. Www.cmelawsuit.com
May or may not have been a catalyst.
What you think that's going to do CME membership prices when people have to either buy/lease instead of getting member rates for essentially free?

Ramses...a seat will save you $ if you as good as you talking. Get the calculator .
 
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