Proper order entry?

I think travisdu brings up a very interesting subject. As a full time stock trader I have traded a lot of different stocks but a only a few other instruments. occasionally bonds, yen, and of course minis and the big contracts.

I see charts of other futures but I have no idea what the move is worth. I have no idea about liquidity and overall the futures markets have done a very poor job of getting me to trade them. I would consider, gold, oil, cash currencies, and others but the the exchanges, brokers and others in those business should make the process of understanding your risk and reward way easier.

As a full time trader, reading financial magazines and the like how come I have no idea what the average dollar range of oil futures are and whether they are trendy intraday or gappy. How come I do not know what a standard spread is and what standard slippage is. The lack of marketing their products trading attributes makes me suspect that these markets are mainly for locals, hedgers and suckers.

Now do not get me wrong. I know I have no idea about "what I am talking about" and that I should learn about these markets. Because they may be the future. However, shouldn't there be articles written in active trader or stocks and commodites comparing the trading qualities of these markets. A major part of me does not want to risk my capital for education. For instance how come I know nothing about the cattle market except for the fact that when I was down of the floor I saw a virtually empty pit. Whats up with these other pits.

P.S. Perhaps the cattle pit was closed? That is how little I know about cattle. I have not even been exposed to its trading hours.
 
jem

have you tried your local library or bookshop?

there is an important issue here - between the marketing of derivatives with their high leverage - and therefore potential for loss - and the freedom for all to enjoy the potential reward

i suspect currently the right balance exits - and those who will have a chance of being successful - are the ones who take the time and energy to study, learn and find out - without expecting the information to come to them - whatever you want to know is out there for you to find out - and anything which is not easy to find - means it is probably confusing and not many understand it -so if you find out about - you will have a real edge

if it was easy - everyone would be doing it!
 
I agree...Ive been on the net since before the www. I rarely use yahoo preferring to use deeper more specific search methods, including the invisible web in databases and such. So far I have found nothing.

If I do find anything I will post it here so that those who come after dont have to deal with the frustration. Of all the variables involved in trading the futures options markets successfully I would think that order formatting instructions should be elucidated by the exchanges or the brokers. This is not the case.

That is why I posted here hoping that someone would help. It seems though that there are no futures options traders here.

Maybe Ill take the series 3.

Trav
 
the point is that there is no point trading something where there is little information about it - since, in general, the amount of information is an indication of the liquiidity and therefore profit potential

the act of the trading is the key to learn - so why bother learning about something which has a complexity in its execution - there are bucks to be made every day in the emini indexes, which provide liquidity, the best leverage, narrow spreads and daily tradeable risk reward ratios
 
To the individual whose posting was deleted -

Please private message me so you can give me details as I did not have a chance to earlier, and since your post is now gone I have no way to contact you.

Thanks,
Trav
 
To those reading this far into the thread, here is basically what I have found in regards to trying to figure out the proper pricing and strike formats for various options on futures as well as straight contracts.

This information is basically handed down from broker to client in the oral tradition. If you are looking for it online you are likely to get very frustrated. Not only that but with various order entry systems the format can actually vary from system to system.

Best bet is pick a couple contracts and discuss them with your broker. In this way you will be able to learn the formats over time and not piss your broker off. If he is too busy find one who honors your business more.

Speaking of which if there are any brokers who would like my business private message me and we will talk.

Travis

P.S. I even checked the Series 3 Exam materials but their is nothing on formats so beats the hell out of me how the brokers learn it. Kind of a scary thought.
 
travisdu

why dont u just post one or two examples of the exact queries you have - and you will more than likely find the answers you need

these things are not secret - but you need to ask a specific question - to get a specific answer

and you may well do best to make sure that the ones you ask about are actually tradeable
 
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