Eurodollar Futures (GE)--anyone else trading these?

Quote from BKuerbs:

You have to remember that IB provides a snapshot only (though a very good one).

It easily misses spikes. Biggest one I have seen till now were eleven ticks in the Bund.

regards

Bernd Kuerbs
More...

Oopps that's right. I forgot that.
 
IB just sent the following message :

--------------
Dear Trader,

Please be aware that the following order(s) have been canceled at the request of the Globex Control Center. The order(s) were:
Buy # GEZ5 @ 96.15

Globex has determined that the limit price is outside of the allowable order range.

Regards,

------------------

96.15 was the limit part of my stop limit order. I checked the CME website and it says for GE the GLOBEX price limit is 200 points. I'm confused about this price limit. Is 200 points= 0.2 GE points? And relative to what, previous day's close? Can somebody please clarify. Also, I always use the same stops away from the market but today it got cancelled three hours after GLOBEX accepted it.
 
Quote from chinook:

IB just sent the following message :

--------------
Dear Trader,

Please be aware that the following order(s) have been canceled at the request of the Globex Control Center. The order(s) were:
Buy # GEZ5 @ 96.15

Globex has determined that the limit price is outside of the allowable order range.

Regards,

------------------

96.15 was the limit part of my stop limit order. I checked the CME website and it says for GE the GLOBEX price limit is 200 points. I'm confused about this price limit. Is 200 points= 0.2 GE points? And relative to what, previous day's close? Can somebody please clarify. Also, I always use the same stops away from the market but today it got cancelled three hours after GLOBEX accepted it.
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it means that there is a limit on the amount price may move in any session. in this case it is 200 pts - they probably mean 200 ticks as ed can only move between 00.00 and 100.00. it has nothing to do with stop or limit orders.

as ge moves like a rhino after a bucket of ketamine, i dont really see why a stop limit order would be needed - unless entering in a report - in which case you are probably trading in a fast market - brokers will not be liable for any fill during officially designated fast markets. (i believe - could be wrong on that)
 
Quote from BKuerbs:

The Globex page says:

Point description: 1 Point = 0.01 = 25$.

See http://www.cme.com/trading/prd/contract_spec_ED3087.html

This looks pretty wide.

regards

Bernd Kuerbs
More...

Thanks for that link. Indeed, it's wide. My limit portion of the stop-limit was only about 0.3 away from the market.

Edit: I just sent an e-mail to IB asking for details. Anyway, no harm was done and I re-entered the order manually. Initially , I thought my API link software was doing something bizarre.
 
Quote from FredBloggs:

it means that there is a limit on the amount price may move in any session. in this case it is 200 pts - they probably mean 200 ticks as ed can only move between 00.00 and 100.00. it has nothing to do with stop or limit orders.

as ge moves like a rhino after a bucket of ketamine, i dont really see why a stop limit order would be needed - unless entering in a report - in which case you are probably trading in a fast market - brokers will not be liable for any fill during officially designated fast markets. (i believe - could be wrong on that)
More...

I always use stop-limits with my GLOBEX orders. It's my trading style and prevents any hesitations. It's essential for my sanity...
 
Quote from FredBloggs:

it means that there is a limit on the amount price may move in any session. in this case it is 200 pts - they probably mean 200 ticks as ed can only move between 00.00 and 100.00. it has nothing to do with stop or limit orders.

as ge moves like a rhino after a bucket of ketamine, i dont really see why a stop limit order would be needed - unless entering in a report - in which case you are probably trading in a fast market - brokers will not be liable for any fill during officially designated fast markets. (i believe - could be wrong on that)
More...


Special K anyone?
 
After going back and forth between IB and Globex for the last couple of days, my mystery is solved. The limit and stop trigger prices in my stop-limit order was fine but the distance between them was too much. I had 40 ticks between them and that's why the order was rejected (although it was never rejected before). Anyway, I was told that 20 ticks should be OK. The attached document gives "banding" limits for each product.
 

Attachments

I haven't had much luck trading the ED outright and have been thinking about spreading it against the 5 yr note? Anyone care to share any thoughts on this?
 
steady-as-it-goes
greenspan.jpg


You are basically trading interest rates. Why not spread emÕ Ed/Ed?

You will get a higher return on margin (Rom) using the same market.
 
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