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Asked my colleague John Thorpe to provide his explanation: There are No loans or rehypothecation of customer assets in futures trading accounts. Unlike securities and bank accounts. Margin deposits, or rather "Good Faith deposits" are small , usually 10% or less of the notional contract value...

Sorry @Overnight you missed the point. The video does a good job explaining exactly what an iceberg order does and the purpose of it. it is using LIVE order book in a live market. We slowed the video down to show exactly how an 8 lot only increased the order book by 1 and not by 8.

Daily blog and trading levels now available: https://www.cannontrading.com/tools/support-resistance-levels/wyntk-before-trading-tomorrow-august-25th-futures-trading-levels/

Ten year notes downside pressure. Close below 117.070 on an hourly basis cam trigger 116.060 pretty quick. My speculation.

Trading Levels for August 24th:

I hope this video does a better job of explaining and demonstrating the function of iceberg limit orders: https://www.loom.com/share/7a9fbd9d5ede40b8888ed31c808019d0

240 minute chart of the ES with possible levels to watch: Support and Resistance levels for major markets for August 23rd:

Soymeal trading against minor resistance, a break above 415.0 can trigger 427.1/433.8 pretty quick.

Wishing all of you a nice weekend a successful trading week ahead. WEEKLY levels below, daily levels for Monday and more on our weekly newsletter now LIVE.

@Overnight you have a few good points and suggestions. First you are correct, the iceberg does NOT break the 40 lot ( in my specific example) into 4 different 10 lot orders. What it does is it will only show the 40 lot as a 10 lot. Once the 10 lot fills, it will fire a second 10 lot and so on...

Hogs approaching SHORT term support level:

Very light day tomorrow when it comes to economic reports. Volume is stock indices has been lighter these past few days and I have seen more range bound trading in the ES than normal. Levels for Aug 19th:

You are correct about the demo, which I mentioned in the video and the purpose of using 50 lot was to show how icebergs work in futures. Icebergs do apply to futures and I have used it quite a bit over the years with large accounts in several markets.

Levels for Aug 18th below:

Is it a new LLC? typically we only require a statement from you about the account balance at the bank and also ask what the source of the funds are but depending on the account application, certain new account dept./ compliance may ask for further info.

I thought the quick video in demo would help .... but the short version is that iceberg orders disguise the actual size of your order and breaks it down to a few smaller orders: https://www.loom.com/share/4ea0d4d1c40942ea83c6affef476a3c9

Manual trading or Automated? Since you are entering on stops, no need to use iceberg orders but on the exits, if you are using limits, utilize the iceberg order type.

Strong ( and volatile both ways) Natural Gas market to test $10 mark? $11.5 mark? Time will tell. The volatility is generating some interesting option spreads opportunities and risks. WEEKLY chart below.

FOMC Minutes and Crude Oil numbers tomorrow. Dec. coffee is now front month. Levels for Wednesday, Aug 17th below:

Wheat: Building a base or "resting" before trying to break lower?