Futures scalping

[OkComp]

Hi,

I've been using Expo Futures' Firetip platform on a demo account. Currently I am applying scalping techniques, aiming for 3 points per position taken, which has resulted on a 2% daily return so far.

I would like some information on which platform should I use for this type of trading method. Expo Future's is good enough, but their commission fees are kinda high for this method ($4 per contract per position). I would like to have all the features Firetip provides, but for a smaller fee in total. I mean live feed, charting (ticks, 1 minute, 2 minutes, 5 minutes, 10 minutes, daily, weekly and monthly), studies in bar charts, access to different markets, advanced order placing (including obviously stop/loss). I would not mind having all of this coming from different providers (but definitely prefer if it all came from the same one as Expo Futures does). Can you please which systems will achieve this?

Thanks

 

[NetTecture]

Get an exchange membership and negotiate with your broker. Point. But realize that "kind of high" should not make a difference in this areas. You will get problems getting below USD 4 without volume and investments, always assuming you mean USD 4 RT / contract, not USD 4 per Side (buy and sell).

 

[OkComp]

Get an exchange membership and negotiate with your broker. Point. But realize that "kind of high" should not make a difference in this areas. You will get problems getting below USD 4 without volume and investments, always assuming you mean USD 4 RT / contract, not USD 4 per Side (buy and sell).

Thanks for the reply. Actually Expo Futures charges 4 per side (and this is their lowest price, only for e-mini indexes, their prices can go all the way up to $8 per side). This is why I am looking for a more economical solution

 

[NetTecture]

Ok, that IS expensive.
USD 4,4 is starting rate at Mirus, and I have seen people paying below USD 4 (3.85) somewhere else - that is ROUND TRIP and ALL INCLUSIVE (exchange, NFA fees).

for Electronic access, USD 8 per RT is ridiculous high by todays standards.

If you scalp, you trade a lot - so with Mirus, a price break sets in at the 501st RT a month (goes down to 3.85 USD). An exchange membership (USD 100 per month, about USD 2000 starting costs) shaves off another 60 cents (all assuming CME at the moment).

Prices vary for other exchanges - basically Mirus charges the same amount under the hood (around 2,10 USD / RT) plus exchange fees And some exchanges / contracts are more expensive. The nubmers I gave were for CME Indices.

 

[BSD]

Thanks for the reply. Actually Expo Futures charges 4 per side (and this is their lowest price, only for e-mini indexes, their prices can go all the way up to $8 per side). This is why I am looking for a more economical solution

Thats nuts and total highway robbery !!!

Go check out velocityfutures or interactivebrokers.com, the former charge US$ 3,5 - 4,5 per roundturn, IB is similar depending on markets and whether you're in the bundled or unbundled commission version, and can go way lower if you're doing volume or go get an exchange membership as Nettecture says.

 

[OkComp]

Thanks guys. Do these brokers provide charting platforms within their software?

 

[BSD]

Some of velocitys platforms have charts yes, and IB have charts too, but the latter are a bit of a joke really so if you go with IB you'd need extra charts from say prorealtiume.com.

 

[OkComp]

Are you guys scalpers as well? Whas your experience so far?

 

[cuotes]

Just for information, saxobank charges 6$ per side, with a minimun of 10$.

So, one contract is 20$ (open and close)
Two contracts are 24$

So, don't go there unless you have a good reason.

Similarly, internaxx charges almost the same amount (50 cents less)

Of course, RT and exchange fees are charged apart. (RT for globex is free)

THAT is EXPENSIVE!!!!!

 

[JohnHL]

Zumo

Hi,

I've been using Expo Futures' Firetip platform on a demo account. Currently I am applying scalping techniques, aiming for 3 points per position taken, which has resulted on a 2% daily return so far.

I would like some information on which platform should I use for this type of trading method. Expo Future's is good enough, but their commission fees are kinda high for this method ($4 per contract per position). I would like to have all the features Firetip provides, but for a smaller fee in total. I mean live feed, charting (ticks, 1 minute, 2 minutes, 5 minutes, 10 minutes, daily, weekly and monthly), studies in bar charts, access to different markets, advanced order placing (including obviously stop/loss). I would not mind having all of this coming from different providers (but definitely prefer if it all came from the same one as Expo Futures does). Can you please which systems will achieve this?

Thanks

Might be worth having a look at :
http://www.zumo.com

They seem to offer Firetip as well as their own platform. Their system looks impressive but so, of course, do many others.
I have not investigated in any depth, so this is certainly not a recommendation; nor have I been able to find any references to them in T2W forums.
They do offer a demo account.

 

[neil]

Thats nuts and total highway robbery !!!

Go check out velocityfutures or interactivebrokers.com, the former charge US$ 3,5 - 4,5 per roundturn, IB is similar depending on markets and whether you're in the bundled or unbundled commission version, and can go way lower if you're doing volume or go get an exchange membership as Nettecture says.

Good advice but will he heed it ?