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  • #21
  • Mar 10, 2015 11:44am Mar 10, 2015 11:44am
Quoting ChanhXanh
SIERRA CHARTS --> Advanced charting interesting if you are into Market Profile and VWAP (volume weighted average price) VWAP > Moving Average - BOOKMAP --> Better visual representation of the DOM Superior to the DOM, it is a MUST Good luck with futures trading
//----

hey chanh.... thanks.... infinity futures offers sierra charts and ensign.... i've watched video's and tried to make sense of market profiles.... really don't have a clear understanding of them beyond the basic aspect....

scalping is just not something i can do.... but i clearly see how knowing the bid/ask depth could help..... my experience in futures is only a couple weeks..... will take me a few months to get a handle on things.....

right now i'm just like a little kid in a new candy store.....h
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to trade and code, keep both simple... no call to impress....h
  • #22
  • Mar 10, 2015 5:18pm Mar 10, 2015 5:18pm
every day just about 4 pm ct, the futures shut down for an hour break so the cme can do their daily settlements.... this might mean for an hour everyday if you have open positions, your an easy target sittin dead in the water.... being a sitting duck concerns me.....

not sure if your profit target and stoploss will be honored during the break if the market moves thru them.... all pending orders that are not gtc will be canceled during this time.....

tomorrow i will open some orders just prior to the 4pm break and set targets that will test to see whether they will close between 4 and 5pm......

in any event, a companion spot forex account might be a wise 60 minutes worth of insurance....

bought and sold a pack of'em today.... hung onto 8 gbpusd's, m6b....... sometimes when you hook a big fish it's more sportsmanlike to let'em run a bit.....h
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to trade and code, keep both simple... no call to impress....h
  • #23
  • Mar 10, 2015 5:36pm Mar 10, 2015 5:36pm
Thanks for posting information ... . It's saved me some time scrambling around ... .
Fireworks are fun ... as long as you don't blow your fingers off.
  • #24
  • Mar 10, 2015 7:06pm Mar 10, 2015 7:06pm
Quoting hayseed
every day just about 4 pm ct, the futures shut down for an hour break so the cme can do their daily settlements.... this might mean for an hour everyday if you have open positions, your an easy target sittin dead in the water.... being a sitting duck concerns me..... not sure if your profit target and stoploss will be honored during the break if the market moves thru them.... all pending orders that are not gtc will be canceled during this time..... tomorrow i will open some...

Profits targets and stop losses are not honored during this hour...

I learned this the hard way years ago
Solutions ONLY!!!
  • #25
  • Mar 10, 2015 8:23pm Mar 10, 2015 8:23pm
Quoting BillYon
{quote} Profits targets and stop losses are not honored during this hour... I learned this the hard way years ago
//----

hey bill.... thanks ..... i might start paying more attention to any news due out during this time period and adjust my trades accordingly.....h
to trade and code, keep both simple... no call to impress....h
  • #26
  • Mar 11, 2015 10:18am Mar 11, 2015 10:18am
one thing about futures that at first made me go hmmmm, is this process of settling up everyday at 4pm.... you can not carry losses or gains over... every day stands on it's own.... that took some getting used to...

we're fixin to climb pinnacle mountain.... there did not appear to be any earth shaking news due to be released.... so just before leaving the motel this morning i carelessly without much thought set some profit targets....

not sure what went afterwards but by the time we get to the mountain, everything has closed and markets still seem to know something i don't......

will look into it better when we get back down, cause right now me and 3 rug rats have some climbing to do.....h
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to trade and code, keep both simple... no call to impress....h
  • #27
  • Mar 13, 2015 9:31am Mar 13, 2015 9:31am
there is nothing like experience to spot inexperience....

my inexperience in futures is showing......

today has me nothing but confused..... explain later after i figure things out.....h
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to trade and code, keep both simple... no call to impress....h
  • #28
  • Mar 13, 2015 10:55am Mar 13, 2015 10:55am
....h
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to trade and code, keep both simple... no call to impress....h
  • #29
  • Mar 13, 2015 11:24am Mar 13, 2015 11:24am
yes with futures you have to roll to new contract every 3 months [on currency like eurfx and futures stock indexes like emini sp]
All trends begin with the smallest time frame
  • #30
  • Mar 13, 2015 11:45am Mar 13, 2015 11:45am
trade calendar....

9:16 a.m. Central Time (CT) on the second business day immediately preceding the third Wednesday of the contract month (usually Monday).


.... could they make it a little more vague.....

the alert message told me to exit all march 15 contracts by 12 noon cst today.... so after a few minutes of scrambling i did..... strange thing is the m6e march15's are at far better prices if you were short , they are under the spot market price...... but the june15's m6e are above the spot market price..... so in a sense you are far better off, almost 20 pips, if you want to be short....

but the exact opposite is true for the m6a, almost 50 pips worse off......

this makes absolutely no sense to me......

it's been a very good week so won't touch the m6a until i figure out what's going on.....

will enter some, maybe 10, m6e june15's today just to see how the dust settles out....h
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Attached Image(s) (click to enlarge)
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to trade and code, keep both simple... no call to impress....h
  • #31
  • Mar 13, 2015 11:52am Mar 13, 2015 11:52am
if you go to the cme site you will see the futures offset from the cash [forex]

yesterday while still on the eurfx futures and trading the march contract there was no more that a tick or 2 between forex euru/usd and eurfx march contract. the price starts off with new june eurfx contract being about 12 -13 ticks higher than eur/usd forex prices. as we near june this difference becomes very close to the forex price.

on a true ecn forex broker the price will always move in tandem with the cme fx contract

this is due to the arbs professional traders such as banks, hedge funds etc making sure the prices due not get out of line

it is a good way to know if your forex broker is good
All trends begin with the smallest time frame
  • #32
  • Mar 13, 2015 1:40pm Mar 13, 2015 1:40pm
Quoting qiktrader954
if you go to the cme site you will see the futures offset from the cash [forex] yesterday while still on the eurfx futures and trading the march contract there was no more that a tick or 2 between forex euru/usd and eurfx march contract. the price starts off with new june eurfx contract being about 12 -13 ticks higher than eur/usd forex prices. as we near june this difference becomes very close to the forex price.
//-----

hey qik...... thanks..... this will be my first experience in changing months...... i made out immediately when rolling the m6e, micro eurusd, as there was about a 20 pip difference in my favor..... but where most of my contracts were was the m6a, which has june15 prices way off the current spot ask/bid..... almost 50 pips against me....

do you have an idea of why..... it's almost like a option time premium.... there are plenty of trades being made on it, but why would anybody when the price is so far off.....h
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to trade and code, keep both simple... no call to impress....h
  • #33
  • Mar 13, 2015 3:51pm Mar 13, 2015 3:51pm
it is kind of complicated and will seem like your first impression of the quarterly roll - "what could be more vague lol"

do google search on backwardation of futures contracts the emini sp contract does the same thing the june contract is much lower than the march contract while with the eurfx it is the opposite the june contract is about 12 to 13 tics above march

you will need to deal with how your charting program deals with this you get to choose if you want to merge back adjusted or no adjusted

without some kind of adjustment you get a big gap up or down on your charts when rollover comes.
All trends begin with the smallest time frame
  • #34
  • Mar 13, 2015 4:04pm Mar 13, 2015 4:04pm
I would say that futures are standardized forwards. Settlement dates, contract sizes are fixed for everyone. With forwards you can pick and choose.

Accordingly this question can be re-phrased as forwards vs spot.

All other differences are marketplace related, not product related.

In the US, futures get somewhat different taxation treatment from spot. Trading both can complicate tax filing process.
  • #35
  • Mar 13, 2015 4:06pm Mar 13, 2015 4:06pm
Quoting hayseed
{quote} //----- hey qik...... thanks..... this will be my first experience in changing months...... i made out immediately when rolling the m6e, micro eurusd, as there was about a 20 pip difference in my favor..... but where most of my contracts were was the m6a, which has june15 prices way off the current spot ask/bid..... almost 50 pips against me.... do you have an idea of why..... it's almost like a option time premium.... there are plenty of trades being made on it, but why would anybody when the price is so far off.....h //------- {image}...
It's due to forward points which is used to calculate the future value -- it's a cost of carry so to speak.
Hear the music before the song is over ...
  • #36
  • Mar 13, 2015 4:24pm Mar 13, 2015 4:24pm
some are good to explain the past, some are just making money. and then there are those trading financial instruments they just donīt know.


DEFINITION OF 'CASH-AND-CARRY-ARBITRAGE'
A combination of a long position in an asset such as a stock or commodity, and a short position in the underlying futures. This arbitrage strategy seeks to exploit pricing inefficiencies for the same asset in the cash (or spot) and futures markets, in order to make riskless profits. The arbitrageur would typically seek to "carry" the asset until the expiration date of the futures contract, at which point it would be delivered against the futures contract. Therefore, this strategy is only viable if the cash inflow from the short futures position exceeds the acquisition cost and carrying costs on the long asset position.
INVESTOPEDIA EXPLAINS 'CASH-AND-CARRY-ARBITRAGE'
Consider the following example of cash-and-carry-arbitrage. Assume an asset currently trades at $100, while the one-month futures contract is priced at $104. In addition, monthly carrying costs such as storage, insurance and financing costs for this asset amount to $3. In this case, the trader or arbitrageur would buy the asset (or open a long position in it) at $100, and simultaneously sell the one-month futures contract (i.e. initiate a short position in it) at $104. The trader would then carry the asset until the expiration date of the futures contract, and deliver it against the contract, thereby ensuring an arbitrage or riskless profit of $1.

just c&p

thatīs the main reason why i trade just during xetra-session: arbitrage secures fair prices - only amateurs trade fdax after xetra close...
fortis fortuna adiuvat
  • #37
  • Mar 13, 2015 6:22pm Mar 13, 2015 6:22pm
Quoting hayseed
there is nothing like experience to spot inexperience.... my inexperience in futures is showing...... today has me nothing but confused..... explain later after i figure things out.....h {image} {image}
TT's pretty good for tick scalping .... I used to trade futures on the platform a lot back in the days but not in fx (I think they still don't have spot fx). There was a function for size aggregation , looks like that's what's up there.
How much do they charge for it nowadays?
Hear the music before the song is over ...
  • #38
  • Edited 6:59pm Mar 13, 2015 6:29pm | Edited 6:59pm
Quoting deltaone
some are good to explain the past, some are just making money. and then there are those trading financial instruments they just dont know. DEFINITION OF 'CASH-AND-CARRY-ARBITRAGE' A combination of a long position in an asset such as a stock or commodity, and a short position in the underlying futures. This arbitrage strategy seeks to exploit pricing inefficiencies for the same asset in the cash (or spot) and futures markets, in order to make riskless profits. The arbitrageur would typically seek to "carry" the asset until the expiration date of...
Just don't try using this strategy with the grain futures unless you really understand the fundamentals :-)

Example (Corn):
Current cash price @ elevators= $3.45-3.55
Current futures price @ May Contract= $3.80
  • #39
  • Mar 13, 2015 7:11pm Mar 13, 2015 7:11pm
Quoting srt
{quote} Just don't try using this strategy with the grain futures unless you really understand the fundamentals :-) Example (Corn): Current cash price @ elevators= $3.45-3.55 Current futures price @ May Contract= $3.80
well, i never tried to trade soft commodities because i do not understand them. nor energy, although i know contango/backwordation in theory. i do NOT think i can trade every underluying. just indices, sometimes fx. let others burn their fingers because they think they can trade every market... thatīs not my job. my job is to make money every day.
fortis fortuna adiuvat
  • #40
  • Edited 7:32pm Mar 13, 2015 7:19pm | Edited 7:32pm
Quoting deltaone
{quote} well, i never tried to trade soft commodities because i do not understand them. nor energy, although i know contango/backwordation in theory. i do NOT think i can trade every underluying. just indices, sometimes fx. let others burn their fingers because they think they can trade every market... thats not my job. my job is to make money every day.
Yes, currencies & equities are much simpler when comparing the futures to current cash/spot price. No "physical" product to deal with.
(Sorry to get off topic, I'm a grain addict :-))
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