today was a snoozer.. but i'll take it. pretty much just surfed the net all day while trading was an afterthought.
10,100 shares traded.
10,100 shares traded.
Trader P/L 2005
- Thread starter Diamondtrim
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mschey-
Technically, the pit does trade in .10 increments, but the reality is that you will never get filled on an order in that pit until some local can make money off the arb with the e-mini. The locals in that pit will not step out anymore, because it doesn't pay to do so. I understand what you're saying about the spread of .25 vs .10, but the dynamics of that pit has changed so much that the big contract has become a derivative of the e-mini. The only way there is a difference is if you're executing many, many trades per day. If you don't believe what I'm saying about the pit, spend 30 minutes in the visitors gallery during the open (or close) of the day.
Just trying to be helpful
Good Luck
Technically, the pit does trade in .10 increments, but the reality is that you will never get filled on an order in that pit until some local can make money off the arb with the e-mini. The locals in that pit will not step out anymore, because it doesn't pay to do so. I understand what you're saying about the spread of .25 vs .10, but the dynamics of that pit has changed so much that the big contract has become a derivative of the e-mini. The only way there is a difference is if you're executing many, many trades per day. If you don't believe what I'm saying about the pit, spend 30 minutes in the visitors gallery during the open (or close) of the day.
Just trying to be helpful
Good Luck
I'll take execution over slipage any day. One tick on the big contract is $25. One tick on the emini is $12.50. So even if your slippage on the emini is 2 ticks, its still equal to one tick slippage on the big one. I used to trade the spoos when a full pt equaled $500 and eveything was done over the phone. Believe me, they will screw you in the pit when they can, which is most of the time.
I think a neat test would be to open two accounts, one for the emini and one for the pit. When you get your fill confirmed from the pit, immediately hit the bid or offer in the emini and compare results.
I think a neat test would be to open two accounts, one for the emini and one for the pit. When you get your fill confirmed from the pit, immediately hit the bid or offer in the emini and compare results.
i think you should do it this way: when you want a fill call the pit and place your emini order as close in time to eachother as possible. then compare fills if you get your reports.
its been an absolute sucky morning so far. I was tossed for a 4k loss quick in LU this morning then I fought back and made it back to even and then up a little. Im going swimming the rest of the day and come back strong, level headed tomorrow. sucky day, see even I have sucky days 
(sometimes)
(sometimes)I can watch the e-mini, while I am waiting for my fills from the pit and see where I could have gotten filled. That's how I am testing which one is really better.
Remember, I have to trade 5 emini's to equal 1 big contract!
I will keep you posted as to what my research shows is the best strategy.
Mike
Remember, I have to trade 5 emini's to equal 1 big contract!
I will keep you posted as to what my research shows is the best strategy.
Mike
Quote from mksummny:
its been an absolute sucky morning so far. I was tossed for a 4k loss quick in LU this morning then I fought back and made it back to even and then up a little. Im going swimming the rest of the day and come back strong, level headed tomorrow. sucky day, see even I have sucky days
No, a sucky day would have been if you stayed down 4K. That 500 bucks you pocketed is more than 85% of working Americans will bring home today.
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