Reading this thread allows me to better understand why Americans are hated by so many people around the world...
Not intending to offend... obviously.
alberto
Puffygums, I think your last post has gone to the point:
"if you snag a handful of contracts and trade them for a good chunk of the daily range".
Many people here do scalping, and they think this is not feasible in grains: I second this opinion, unless you're on the pit.
On the other...
Amazingly I get quite different (much lower) figures from eSignal.
Symbol MW H3, has never had volume above 3k contracts in january!
Where do you get your figures from?
alberto
FYI, the following figures refer to volume traded for the march 03 contract.
Soybeans: 44,6 k
Soybean meal: 18,5 k
Bean Oil: 16,3 k
Corn: 35,1 k
Wheat:
- Chicago: 7,8 k
- Kansas City: 6,1 k
- Minneapolis: 1,7 k
alberto
I suppose the original question comes from someone who has been trading stocks and is now planning to trade eMinis...
In this case, I would say that capitalization is the first requirement: otherwise you'll get killed by volatility + leverage, even before you start understanding what you're...
I suppose we are all accustomed at trading in front of a screen: you have "your" software, "your" charts, "your" setups...
Would you be able to re-create the same environment on the floor? What kind of information is publicly available there? Could you have a "booth" to put your own PC or...
Cheeks,
So far I have nothing to complain; I suppose trends last little longer in the grains compared to eMinis.
Look at today's action: S H3 is nicely trending upwards from 549 to (now) 555. That makes 6 x 50$ per contract with 1.1 k$ margin.
Not too bad!
OTOH I suppose one should...
I think there is nothing special in my method: I use 3 EMAs and try to trade with the trend, that is when they are in sync.
Also use one price oscillator to see when the market has moved too far in one direction.
I try to enter my trades with limit orders; i can close them on stops, limits...
I have been daytrading soybeans and wheat for the last 4 months.
I trade with www.5perside.com (10$ r/t all included) the online discount brokerage of MAN Financial: fills are good, but sometimes confirmation comes delayed so you have to figure out whether you've been filled or not...
Are Oanda's competitors bid/ask spreads as good as theirs?
This is what really matters.
An Fx broker is good, if their spreds are between 1 and 3 pips and you pay no commissions. Otherwise it is cheaper to trade GLOBEX futures.
alberto
That's not easy to say as I almost always use limit orders.
However, on a stop order, filled in normal market conditions (no fast market) 1/4 to (seldom) 1/2. Sometimes, even 0: market is liquid, especially the beans.
alberto
CBOT Soybeans and Wheat, account for about 75% of my trades.
Then some trades on mini DOW, 10yrs Notes and EUREX Bund.
Only now I am starting to follow bean oil/meal.
alberto
Maverick,
I have been daytrading grains/beans for the last months, after a stop coincident with marriage and daughter's birth.
If you look at a tick chart of today's action you can see that for most of the day there is 1/4 to 1/2 spread.
I trade with 5perside, for 10$ RT and a 1/4 point...
I have been doing the same kind of research and I came to the following:
Dial Data, if you need european stocks
Quote Plus, if you only need european futures.
Both have US stocks and futures.
The cost of trading is basically different: with most FX brokers you get usually a 4/5 pips (=ticks) spread on (let's say) EUR/USD, whereas the same spread on GLOBEX/CME usually is around 3 ticks (=pips) but might go as low as 1.
When the spread is low and you trade futures you get it...