kenstl,
this is a dumb question, but i've never traded futures - can one make the spread or even scalp the e minis and expect to get filled? or do you have to pay the spread for each transaction?
Depends how bad you want in/out. Usually, I can buy the bid/sell the ask if I'm patient. However, just as with stocks, there will be times when your bid just sits there and you see a couple of ticks at your price and then up it goes without you (and vice versa). I think the principles are the same. If you bid and get hit fast, you can usually expect the price to go against you in the immediate future...just as with stocks. However, trying to trade just for the spread is a loser's game in the futures...at least that's been my experience. Its just too volatile.
also, what is the volume like on the nas100 and s&p500 minis from 16:45 until 9:30? is it too thin to be tradeable? is there any movement after hours or does it just stay in a tight range until the morning? if you use IB, are the orders entered as they would be during normal market hours?
Usually its fairly light overnight. That can change if major news comes out. I have never traded the overnight session as the risks still seem too great. Sometimes only 1 contract will trade over several minutes, other times its heavier. If you're new to futures, stick with the day session in the beginning. There just isn't enough activity yet IMO. Since I haven't traded overnight I can't speak to how IB works for those orders.
Kirk
this is a dumb question, but i've never traded futures - can one make the spread or even scalp the e minis and expect to get filled? or do you have to pay the spread for each transaction?
Depends how bad you want in/out. Usually, I can buy the bid/sell the ask if I'm patient. However, just as with stocks, there will be times when your bid just sits there and you see a couple of ticks at your price and then up it goes without you (and vice versa). I think the principles are the same. If you bid and get hit fast, you can usually expect the price to go against you in the immediate future...just as with stocks. However, trying to trade just for the spread is a loser's game in the futures...at least that's been my experience. Its just too volatile.
also, what is the volume like on the nas100 and s&p500 minis from 16:45 until 9:30? is it too thin to be tradeable? is there any movement after hours or does it just stay in a tight range until the morning? if you use IB, are the orders entered as they would be during normal market hours?
Usually its fairly light overnight. That can change if major news comes out. I have never traded the overnight session as the risks still seem too great. Sometimes only 1 contract will trade over several minutes, other times its heavier. If you're new to futures, stick with the day session in the beginning. There just isn't enough activity yet IMO. Since I haven't traded overnight I can't speak to how IB works for those orders.
Kirk
