Big SPs go side-by side?

Quote from SpecialPerson:

don't even talk to me about market history, pal.

I've been pounding the table about the coming great depression for the last 4 years. I faced ridicule from all of my peers. I lost so many friends in the financial industry.

Now myself and my family are thriving and many of the people that mocked my analysis are in every sense of the word Bankrupt.

I flew my wife to NYC this weekend and took her on a shopping spree, complete with tickets to multiple sporting events....many people can not afford that right now.
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You are the one that is ignorant of how the S&P moved back in 1982.

I hope you didn't hurt yourself pounding the table.

If you want a friend in the financial industry then get a dog.

Everyone I know would think it insane to fly to NYC for the weekend. We just take the train.

I can only assume that everyone else at those sporting events could afford it or they wouldn't have been there.
 
"The ES is going to be too small for me soon."

I am also facing this problem... Why are there no such thing as a liquid contract in this world? I have to remove 4 level of depth for my normal scalping size...Sometimes I 'm barely positive at the end of the day because of those tick losses... Rough times.

:D :D :D
 
Quote from SpecialPerson:

I've been pounding the table about the coming great depression for the last 4 years. I faced ridicule from all of my peers. I lost so many friends in the financial industry.

Now myself and my family are thriving and many of the people that mocked my analysis are in every sense of the word Bankrupt.

I flew my wife to NYC this weekend and took her on a shopping spree, complete with tickets to multiple sporting events....many people can not afford that right now.
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if you were doing really well, you'd get an f430 and three pieces of eye candy, like i have.

and no successful guy is married. that's a self-contradiction.
:D
 
Quote from SpecialPerson:

don't even talk to me about market history, pal.

I've been pounding the table about the coming great depression for the last 4 years. I faced ridicule from all of my peers. I lost so many friends in the financial industry.

Now myself and my family are thriving and many of the people that mocked my analysis are in every sense of the word Bankrupt.

I flew my wife to NYC this weekend and took her on a shopping spree, complete with tickets to multiple sporting events....many people can not afford that right now.
More...


You must be on crack saying stuff like this. There is still plenty of money and people do fill in the venues. :D
 
Quote from SpecialPerson:

When are the big SP futures going to go side-by-side electronic with the pit? This is ridiculous that there is still a pit.

I need to trade the bigs, minies are about to become too small for me.
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There are guys that trade in the pit and all they do is Arb between the SP & the ES....I dont understand what you mean when you say, "when are the big's going to go side-by-side with the ES...". Both markets basically follow each other (when one market is way out of whack, its an arb trade that will force them to diverge back...). Are you more of less asking when the ES is going to trade in 10cents/per tick like the big? That seems like more of an issue, not the multiplier size.

Also, if your getting "too big" for the ES, why not just trade the SP. If you trade large size (100+ cars in the Big)....there are a handful of brokers/locals in the pit that would take on your paper with little or no slippage. Instead of getting some fills at .25 & .50 in the ES....you'll more than likely get fills at .20, .30, .40, .50.

If the ES mkt is .25x.50 and the pit mkt is .20x.50 and you send an mkt order to buy 500ES, you'll get filled at .50....if your working with a good filling broker in the pit and you send him a 100 car mkt order, he'll go into the pit and "bid 30 on 100"...."40 on 100"...."50 on 100"...ect - and you'll more than likely get hit a little at a time all the way up to the 50 cent offer, or you'll more than likely just get filled "100 at 40". By going to the pit and trying to work that order with a broker and some "big locals" you got filled 10 cents lower than you would have on the ES...10 cents savings on 500 (ES) cars is a lot of money saved over the long term.

Then again...unless you're trading large size and you're working with some good filling brokers and locals you wont get any edge....
 
Quote from SpecialPerson:

Let me reiterate, and thank you all for the comments.

When will the Pit Traded SPs go electronic and trade side-by-side with the pit SPs?
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never. No $ in it.
 
Quote from SpecialPerson:

Let me reiterate, and thank you all for the comments.

When will the Pit Traded SPs go electronic and trade side-by-side with the pit SPs?
More...

You need to re-phrase your question then....it should be, "when will the ES trade in 10cent ticks?" Regarless of the multiplier it makes no differnence, if you can Arb between the two contracts both will trade the same.

The CBOT Ag's went "side-by-side" after the merger and those contracts are a complete mess right now....try to hedge some back months in any of the Ags....the liquidity is complete shit.
 
Well you are forgetting that the multiplier DOES matter because there are position limits. You not allowed to hold a position of more than 10,000 ES contracts.

So yes, the multiplier does matter and at some point, I will need more size than that since 10K SIZE ES is only 2K SIZE SPs
 
Traderzones,

I'm not the biggest trader, but I can assure you that I don't paper trade....and I can assure you that I represent a company with the #1 mutual fund picking letter right now.

If you'd like, you can PM me. We can chat on the phone and I'll show you the latest video of our head trader on CNBC with Erin Burnett. Thank you.
 
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