The small account catch 22...which market?

Cant trade corn or beans because IB charges $55 for CBOT data, which will not include bid or ask meaning I cant get charts.

So I looked at mini silver which trades at $1 per tick.

The problm is.......the spread is 14 ticks. That is a lot to overcome. I dont mind holding for a day or two at times, but dont want to feel locked into a position as I often buy at support and if it fails, dont want to be reluctant to get out.

Am I missing something there, why is the spread on mini silver so high?

Mini Gold trades at $3.32/tick but the spread there is 6 ticks.

http://www.cbot.com/cbot/pub/cont_detail/0,3206,1248+14410,00.html
 
Quote from sim03:

Let me second riskarb's Oanda recommendation. Besides currencies, you might want to take a close look at spot gold and silver there.
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What kind of leverage does Oanda give on spot gold & silver?
How wide is Oanda's typical spread in these instruments?
 
Quote from Rearden Metal:

What kind of leverage does Oanda give on spot gold & silver?
How wide is Oanda's typical spread in these instruments?
More...

50:1; 100:1 on call on gold and silver, as with all their offerings. Typical spread is $.80 during US day session.
 
Quote from spinn:

Cant trade corn or beans because IB charges $55 for CBOT data, which will not include bid or ask meaning I cant get charts.

So I looked at mini silver which trades at $1 per tick.

The problm is.......the spread is 14 ticks. That is a lot to overcome. I dont mind holding for a day or two at times, but dont want to feel locked into a position as I often buy at support and if it fails, dont want to be reluctant to get out.

Am I missing something there, why is the spread on mini silver so high?

Mini Gold trades at $3.32/tick but the spread there is 6 ticks.

http://www.cbot.com/cbot/pub/cont_detail/0,3206,1248+14410,00.html
More...

This is why you position trade the mini corn and beans etc, where slippage is less cumbersome due to lower frequency of trades.
 
Quote from riskarb:

50:1; 100:1 on call on gold and silver, as with all their offerings. Typical spread is $.80 during US day session.
More...

Wait... their market is <b>80 cents wide in gold?!</b>
Was that a typo? Did you mean 8/10ths of a cent?
 
Quote from Rearden Metal:

Wait... their market is <b>80 cents wide in gold?!</b>
Was that a typo? Did you mean 8/10ths of a cent?
More...

lol, it's $621.20 x $622.00 currently. eCBOT is $.50-wide as I type this. Of course you can mid the market with the futures. The "spotification" of gold and silver allows you to trade from 1 unit and pays/receives carry on shorts/longs. Commission is embedded in the market on Oanda.
 
Quote from riskarb:

lol, it's $621.20 x $622.00 currently. eCBOT is $.50 as I type this.
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Meanwhile, GLD is $61.68 x 61.69.
Unfortunately, it's not a leveraged instrument.

EDIT: "pays/receives carry on shorts/longs."
Say for example I'm long gold (at Oanda), leveraged 10-1.
How much am I paying to carry this position? Like 7% APR?
 
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