Can you make a living trading futures?

[michaelday]

Fohat,

I saw it in IB's TWS but there are no symbols that represent different participants. Is it just that IB doesn't provide such info or it is not actually available?

 

[Aranha]

Dear All,

which data vendors/softwares offer this "MARKET DEPTH" for futures?

I know that Tradestation Pro doesn't, because I have it.

Thanx.

ARANHA

 

[Fohat]

michaelday,

There are no middlemen in emini futures trading(no MMs). Hence, there are no symbols for different participants(middlemen). It's like trading on one big ECN. Market depth is like Island book. Do you see any symbols that represent different participants on Island ECN?

Fohat

 

[michaelday]

Thanks Fohat,

That's what I needed to hear.

 

[tymjr]

Aranha: “which data vendors/softwares offer this "MARKET DEPTH" for futures?”

Any broker using Patsystems J-Trader. IB offers a DOM feature of their own design. In addition you can view, courtesy of vitajex, the CME’s free web version:

http://207.121.190.247/WebQuote/fortune50a.html

 

[gemini_315]

tymjr,

Originally posted by tymjr
I do not scalp, at least in the way that I define scalping (2-3 ticks). I look to profit off of larger extensions while protecting myself with stops that are formulated from S/R and market statistics.

Do you day trade or do you hold positions overnight? I currently day trade but am looking to improve my risk to reward ratio and am considering holding positions overnight. Any thoughts on this?

Also, how many points are you normally trying to pick up?

Thanks.

 

[gordo]

In regard to the market depth, does it work similarily to level II for Naz? Being new to eminis, can you hit the bid or the ask to buy or sell? Or how do you use this info in trading these contracts?

 

[tntneo]

we call it level II only because you see more than the inside market. it does not work like nasdaq. It only shows you the book. there are no market makers on futures.

 

[Kicking]

aha depth of market! ...

IB DOM is worthless, it's like 2 seconds behind, like what they have for stocks. I would like them to fix this problem but anyway I think this info has little value for the eminis. I personally never liked to trade off Nasdaq level 2, by the time you see something it's often late already if you are not a scalper. The one thing I would like to know though from those who have a fast DOM feed is if they are able to tell if a support or a resistance is likely to hold .

 

[AAAintheBeltway]

The problem with DOM is that it only covers the globex, not the pit session where the real volume is. It doesn't really matter what is sitting on globex for the mini's if Goldman or Merrill drops 500 big contracts on the market.