FYI there are different contracts. Here is one.
Question about futures.
- Thread starter IShopAtPublix
- Start date
FYI there are different contracts. Here is one.
There seems to be some form of bad communication...Corn is not trading at $416.25 a bushel...if it was we would starve.....you are not reading it correctly, it is $4.16 and 1/4 a bushel, but on the quotes and charts it will read 416.25....for corn to much $10 FUCKING dollars, itr would be like the ES to move 10,000 points!!!
that's 11 1/2 cents a pound not $11.50 a pound...lay of the crack for a while
LOL man, you've made your point, no need to kill'em.
We both know that he meant 10 points, not 10 dollars and seeing as how it has the same tick value as the ES (which Shaqi is making fun of so well) he actually has a valid point.
I hope he succeeds at his task (just because he isn't differentiating dollars from points doesn't mean can't manage risk).
When you are done bagging at Publix, take a look at these sites before you fund your account.
http://www.cbot.com/
https://www.theice.com/homepage.jhtml
http://www.cbot.com/
https://www.theice.com/homepage.jhtml
This is getting confusing. When I say "Corn" or "Sugar" I don't mean the underlying commodity but the amount of money to enter into contract. I don't give a **** about the underlying commodity just the profit potential. On my chart the scale on the right bears $ sign. Which means when I say corn is at 416.25 that means the amount of money to enter into that contract is $416.25.
When people quote Crude Oil don't they say something like 80 bucks a barrell? Well the contract itself assumes 1,000 barrels.
As long as "corn" moving from 416 to 406 yields 10 grand at adjustment I could not care less what real corn costs like.
*UPDATE*
Damn, it turns out it is cents per bushel and not dollars. I did not know it was not dollars even though it displays dollar sign on my chart at optionxpress. This is a major disappointment. I guess I will have to stick with options. Well I did not lose any money on it so it is all good. So instead of 10 dollars it would move 10 cents...
When people quote Crude Oil don't they say something like 80 bucks a barrell? Well the contract itself assumes 1,000 barrels.
As long as "corn" moving from 416 to 406 yields 10 grand at adjustment I could not care less what real corn costs like.
*UPDATE*
Damn, it turns out it is cents per bushel and not dollars. I did not know it was not dollars even though it displays dollar sign on my chart at optionxpress. This is a major disappointment. I guess I will have to stick with options. Well I did not lose any money on it so it is all good. So instead of 10 dollars it would move 10 cents...
Dude there is no need for smack talk. I thought that I could make really easy money it turned out my profit calculations were off. The most I can hope for is make 300%-500% in a week or 2 with options.
I really wanted to find a trading instrument where being "right" is rewarded more than 3 - 5 multiplication of capital.
Quote from joemiami:
"thought I could make really easy money"......
typical newbie barking
Newbie in futures only. Quite experienced in stocks/options.