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Because FIFO leg orders are firm orders. Exchange spreads are conditional (implied) because they require all the legs to be firm orders in order for the exchange to safely match them into the desired spread combination. If you use a platform like TT where you can elect to show the "implied"...

My sense is that you are creating much ado about semantics in a market where buying a bid or selling an offer is a tenuous at best undertaking - the "advantage" is quite temporary. If you were specializing in Eurodollar butterflies where, quite literally, there are 10K best bid and 12K best...

If you are using any type of "AutoSpread" (TT trademark) spread legging platform, those orders are tagged as conditional by the exchange. Which means they get lower queue priority than firm orders.

I'm a bit confused. Implied spread orders get filled all the time at CME. Literally tens of thousands of lots per trading day.

That’s true for all FX and certain limited kinds of Eurodollar Spreads. If you are the aggressor and improve the bid/offer in FX spreads it’s my understanding that your order is then tagged priority FIFO. You’ll find that CME order matching algorithms are product-specific. You can always...

If you like the European time zones. It’s a different animal than ZN. I seldom trade it these days, but there are some Bund traders over on the Financial Futures Forum so it might be a good question to ask over there. I’m more of a swing trader, and would use the Bund in the context of a...

What makes this scenario speculative and especially sticky for China is their Government Party Policy of agressively maintaining a currency PEG with the dollar. The US Fed has a few options - probably more than the Chinese do. And as we’ve seen repeatedly, China has no qualms about...

This is all speculative in nature. And I’ll be the first to admit that my own currency trading has been very limited to inter market spreads. I hope we never have to find out, but from what I have read the US Fed has several technical options for such a scenario - including the Fed buying...

Yes - noticeable selling of US Treasuries would depress the dollar. If, for example, China unloaded $1.2T of US Treasuries it would seriously weaken the dollar and strengthen the Yuan. The cornerstone of Chinese Central Party Planning is to maintain through diligent active ongoing manipulation...

I traded ZN in the pits and electronically. Mostly basis and yield curve spreads. Also quite a bit of Eurex.

And what happened ? Nothing. Because you’re wrong. You’re a liar. I know for a fact from Advantage Futures that the NFA complaint was investigated and went nowhere. If I’m wrong and you’re right why hasn’t the NFA or the CFTC or somebody stopped me ? Why do I still have that Statement up...

Nope. That is an NFA audited account for a Member Firm. Year-end profits of $486K in a legitimate proprietary trading account clearing Advantage Futures. I was the only one trading that account. All proprietary Member Firm accounts are swept closed at year end then re-opened at zero New Year...

Your preface says it all.

I take your point. Putin is a very unique outlier - Russia is a pure kleptocracy with no real exports other than Kaspersky, weapons, and hydrocarbons. To bet on Russia is disturbingly simple - bet on oil.

Futures like ZN (and the German Bund) are heavily used for purposes other than outright directional bets. So traded volume as a directional indicator can be deceiving. Private entities that are required by law or charter to be heavily invested in Treasuries like insurance companies, pension...

Well, it's about time that Baron decide if this is Reddit or Elite Trader. Two very different things.

If I pre-approve a serious potential client, I have a past client currently trading on an Investment Bank FX and IRS Swaps Desk who would be happy to independently answer questions about my training program.

And I am sure that Elite Trader Members are specifically warned NOT to troll other Members as a condition of their Membership.

I'm not sure that you know what trolling is, Baron. troll2 trōl/ verb gerund or present participle: trolling 1. informal make a deliberately offensive or provocative online post with the aim of upsetting someone or eliciting an angry response from them. "if people are obviously trolling then...

troll2 trōl/ verb gerund or present participle: trolling 1. informal make a deliberately offensive or provocative online post with the aim of upsetting someone or eliciting an angry response from them. "if people are obviously trolling then I'll delete your posts and do my best to ban you"