UK Scalpers

Quote from Scientist:

Now this is my favorite reason for trading the Eurex; native stops. On Globex (with 'simulated' stops), you aren't even in a queue, and never know where you're gonna get filled. On the DAX, for example, you might have more volatility, but certainly also a lot more confidence of getting your stops filled, rather than "run".S
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Hey Scientist. I trade dax aswel. can u kindly tell me what u mean by native stops on dax and what advantage it has over ES?


Thanks
 
Quote from harris_tch:

Hey Scientist. I trade dax aswel. can u kindly tell me what u mean by native stops on dax and what advantage it has over ES?

Thanks
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Oh come on Harris, are you for real? You are moving, what, $120K worth of face value per contract, and you don't even know your exchange rules? Don't you think you should know this stuff at gunpoint? And then have the chin to ask me to do the research for you?

But hey, since you asked so kindly, here they are: Eurex & Globex

Eurex uses native MKT, STP, GTD, GTC & RFQ orders.

Globex supports none of those orders, it only offers simulated (broker-based) MKT, STP, GTD, GTC orders.

Globex doesn't even have MKT or STP orders. Basically, everything on Eurex is native while most orders on Globex are only simulated by broker. If you want anything native at Globex, you'll have to be happy with STP-LMT or MKT-2-LMT orders.

That is a big difference, in many respects. As a matter of fact, it even influences the way the market moves in various situations.

Here's a hint - Queuing; LMT orders can happily sit (and queue for as long as they like) anywhere on Globex, while your STP and consequent MKT orders aren't even in the market. Basically, they only get triggered the moment your "imaginary" stop is hit, which means first your broker has to detect the price being hit, then feed back by placing a supported order (all of which adds lag), then that order is of course last in the queue to be executed at that price, and most likely you will NOT get outta there during a nice breakout, it can add at least a tick slippage (and lots more if you're trading size).

Timing can make a lot of difference. On Eurex, your stops can be sitting in the market just as long as the limits (i.e. forever). You can hit or lift at market without doubt of execution, and leave your stops sitting there without worries, because they WILL get filled (no limit on your stops). I.e. you can turn off your machine, bomb-shell your broker's server farm and walk away without worries. Well... scratch the last bit.

But before you only think about trading/fill/queue/timing applications, think also about the fact that with sim orders, your broker is the "weakest link". You basically depend on your broker & server to get in/out. If he's down, anything can happen, particularly if you're already in your position.

With native, on the other hand, well either the orders are at the exchange (in which case you're safe) or they're not (in which case it doesn't matter anyway).

More importantly, during an exchange crash or limit-up/down situation, anything can happen with sim orders, too. Your MKT or STP orders to get out alive can be happily ignored. Nothing you can do about it. That's Globex for you.

Again, I'm still not saying either of them is better, because they both have their own implications (stop gunning, for example, is super fun on Globex). And that's why I say you need to figure this yourself, because it depends largely on your risk profile and trading plan. I trade both exchanges every day, and have different approaches for each.

~S
 
Quote from Scientist:

And, for a contrast, our local futs exchange offers no native orders whatsoever... Advance, Australia fair! :D

SNFE
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Thank U soo much for the valuable information. I am from Asia, and ina country which is kinda waaay backward. A very lil traders communtiy which all adds up to the dilemna. But good thing u told, i seriously didnt know that.

from your posts and all, seeems like u are a hard hitter of scalpers which is nice and a very good way of making daily consistant money. I am a intra day trader and i go for larger swings, much larger then scalping ticks like yours. So sometimes i get a B.e days and others i hit the ground hard and soemtimes i loose 10 points.. All in all not bad. Trting to build up and be strong enough to trade more contracrs. More like 5-10 at a time. Takes time though. My method works goood since its a trend base method and dax does trend alot and its moves are relativly very good compare to many indexes out there. The bitchy time comes when markets starts to get into trend change and/or moves back an forth. For that i keep an eye on divergances and all but sometimes it works, and sometimes it doesnt. Still trying to find any better way of identifying the trend. Tried using CCI stuff, divergances, trend line breaks and many others, they all work good, BUT somehow i have this feeling that there is a room for lot of improvement. Still hunting.

How u scalp? I reckon u must have a close eye on tape readings and OB/OS areas, watching Eurtx50 and ES to get the clue of the short term moves. With sucha high veloctiy trading issues like lag time from the servers and many many techincal things matters alot! I am sure! Would be nice to hear somehting from u how u handle all that for learning purposes.

cheers mate. guess u from aussie land eh? Have few very nice traders there as freinds who trade dax and aussie markets.. I heard its slow out there but have goood trendy moves! guess its $aud25 a point.

Cheeers!
 
Scientist - thanks for your posts - your insights are great - i'd appreciate your opinion on this - i trade dax mostly - it's a great contract to trade.. - seeing this range in the s&p / dow / naz dwindle away - do you think within a short while they will start ratcheting the dax in the same stodgy way - of course the range in the dax is already not the same as it used to be - but i find the swings / clear tests are still there as compared to the u.s. indices.. - (ok the swings are still there in the u.s. indices too, but you gotta wait half a day for them to materialise - someone here made a parallel to bonds / bunds which i agree with) - what do you think, thx
 
Quote from dynamicsoul:

heres a uk website that has free live ftse ,dax,brent , stocks and also u.s stocks and indice charts.......

plus historical data for index,oil,forex etc.. in weekly daily and intraday timeframes....


http://www.livecharts.co.uk
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Just noticed your post. Thanks for the link.

Any updates from European traders on recent events? Anyone looking at seasonalities?
 
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