Cbot Are Crooks!! You Must Read This Story!

Quote from SideShowBob:

I should clarify I meant pit brokers ... not all brokers. I've never had a good fill in the pit.....

That said this is your own fault.....you need to understand how the markets you're trading work .... most traders get nailed in the beginning when they're trading a new market (or an old market in a new way) ... myself included. It's the cost of education -- hopefully it will help you make sure you don't make that mistake again.
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i totally agree. in futures you always learn the hard way. i took a loss which wasnt that bad. i could have had more lots on as i said before.
however i have had some success trading the eminis while using their bigger brothers like for example using the pit session ranges of the big s&p to place trades with the e-mini s&p. this has worked well and has been accurate. you will never see a spread that wide as i experienced in the bonds.
you did say you never had a good fill in the pit, but even in the pit in bonds you have open interest over 800,000 contracts. i have always had good fills trading the pit in the bonds. very little slippage.my broker told me that i can still trade the pit but i will have to pay a higher commission. this is why i started with the zb scam. boy was that a mistake. as i have said he told me these markets move in tandem. well i found out they dont and can have huge spreads.
the point of this post is to get out the truth about the zb scam. its a session that has no stability no open no close no high no low no resistance and no support. i'm just going to stick to the pit and i will be fine. the zb is a total scam and advise all to stay away from it.
 
Quote from SideShowBob:

All brokers are crooks -- everyone knows that. Please don't post obvious facts as if they were news. Next you'll be announcing the sky is blue..... :p

As a note differences between the pits and the screen occur all the time and are normal -- they're the result of differences in liquidity. Chalk it up to a learning experience and move on.....but remember the pits exist to take your money!
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you said it bob. i learned the hard way. but the good news the loss wasnt that big is im back and able to fight another day.
 
Quote from triggertrader:

this is why i started with the zb scam. boy was that a mistake. as i have said he told me these markets move in tandem. well i found out they dont and can have huge spreads.
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So because you hadnt studied AND understood the movement, it's a scam.

You trusted your broker who proved to be ill-knowledgable... All these ET'rs keep telling you THEY KNOW the difference because THEY STUDY...

You just dont get it. You are salty over a $1400 loss that was based on your own ineptitude.
 
Quote from giles117:

A broker that doesnt know how the markets move makes me nervous as well.

For those who take issue with his use of point versus tick.... From CBOT's site.....



Ergo 1/32 point = 1 tick.. not 1 point = a tick...

So it does matter, you wouldn't call a byte a bit and expect the "same" result....
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i hate to tell you this but the point you are refering to in bonds is refered to as a handle. call my broker if you dont beleive me. it makes no diffrence anyway. you get the picture.
 
Quote from giles117:

So because you hadnt studied AND understood the movement, it's a scam.

You trusted your broker who proved to be ill-knowledgable... All these ET'rs keep telling you THEY KNOW the difference because THEY STUDY...

You just dont get it. You are salty over a $1400 loss that was based on your own ineptitude.
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...and for 5th time "my studies" were based on these 2 sessions as never having 7 minimum flucuations between them. this is the first time thats happened. this is why i used the zb. didnt think the spread would be that far. now that it is i will never trade. it is a total scam.
 
Yeah it can boil down to semantics... I prefer to use clear, consistent shared terminology... (ex programmer)

I am glad you learned your lesson.

I see my quote didnt print


Here we are again....

Tick Size

Minimum price fluctuations shall be in multiples of one thirty-second (1/32) point per 100 points ($31.25 per contract)
 
Quote from triggertrader:

it is a total scam.
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You may feel that its a scam now but if you become a trader you will get past that. You will have plenty of experiences that you don't enjoy and if you are in the 10% or less that make it then you will get past them.

Good luck.
 
Quote from kiwi_trader:

You may feel that its a scam now but if you become a trader you will get past that. You will have plenty of experiences that you don't enjoy and if you are in the 10% or less that make it then you will get past them.

Good luck.
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Amen.....
 
Quote from kiwi_trader:

You may feel that its a scam now but if you become a trader you will get past that. You will have plenty of experiences that you don't enjoy and if you are in the 10% or less that make it then you will get past them.

Good luck.
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wrong. i dont feel its a scam. my own broker agreed with me. i have also spoken to very famous succesful traders and they have as well. so we're all wrong huh? i guess big brother is right.
thanks for the good luck though and happy trading to you.
 
Quote from krt:

that's what you get for getting long before the employment report.
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Exactamudo. Shite just disappears before the number comes "out," which is 15 seconds before it hits the wires.

Come on in, the water's great.
 
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