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What is the name of the following strategy...
- Thread starter cohvi
- Start date
Quote from eusdaiki:
Whenever I trade futures I use limit orders, and they get filled acording to queue on my system... If Im #20 on the line, then I expect the 20th contract to be mine.
I think ES/NQ/YM futures are way to volatile to trade em for 1 tick profit. Every once in a while it would move too fast and put you down 5-10 ticks... is working all day to have it all blown out in 2 minutes... You have a better shot at doing this at less volatile instruments... highly liquid, with not much movement, and preferently penny stocks, that way you avoid SEC fees, that can be killers for large orders on pricy issues. LU is great for this kind of strategy, so are, JDSU, SCMR, VTSS, SUNW, SIRI, CIEN, ASTM
Another thing is that if you´re planning on using limit orders, as you probably are, then you can´t simulate your excecution... best shot is to start it with 100 share blocks... fees will kill you, but just worry about gross results and scale up as you get better...
I'm running the simulation on Strategy Runner Level II view for futures.
I will be looking into other instruments in the future.
Thanx.
Quote from eusdaiki:
No, you wont find much about it anywhere. I wrote a threat about it last year trying to get some ppl to share their knowledge, I ended up answering everyone´s questions.
Is the kind of money you make at SUNW, JDSU, SIRI and CIEN... move real big volume add liquidity every time, and try to exit your positions with minimun profit... from 0 to 2 cents gross... {though 2 cent moves are quite rare}, you can also do something similar at LU, though there are no rebates there... so it´s a gross game.
Are you sure you don't get rebates from LU? Somebody on this thread said they are rebating trading LU. Who gives rebates on LU? It's a NYSE stock.
Quote from eusdaiki:
Yeah, there are different strategies for rebates. Getting in and out at the same price is one, but getting one cent profit is also a valid approach.
It's not easy making even just .01 cent. Harder than it looks.
What about slippage. Doesn't LU and those other similar stocks have slippage when you try to get out of the trade?
There used to be rebates in LU until last year. You used to get a small rebate on island for removing liquidity... but as far as I know that´s gone. Now a days you can only make rebates on the NYSE by trading ETF´s, such as EWJ...Quote from firstchoice:
Are you sure you don't get rebates from LU? Somebody on this thread said they are rebating trading LU. Who gives rebates on LU? It's a NYSE stock.
Quote from firstchoice:
strategy runner has level II? Since when? They have a trading pad, is that what you mean by the level II?
I'm learning the futures business so forgive me in advance.
I thought SR Trading Pad is Level II information.
Can you please clarify the terminology for me by stating the difference between:
Level II?
DOM?
And what is the SR trading pad?
Quote from SR site: "One-click trading from level II screen Trading Pad. "
http://www.strategyrunner.com/Content/Solutions_Brokers.htm
?
Quote from cohvi:
I'm learning the futures business so forgive me in advance.
I thought SR Trading Pad is Level II information.
Can you please clarify the terminology for me by stating the difference between:
Level II?
DOM?
And what is the SR trading pad?
Quote from SR site: "One-click trading from level II screen Trading Pad. "
http://www.strategyrunner.com/Content/Solutions_Brokers.htm
?
They are all the same. Level 2 just normally refers to stock trading but people use the words interchangeably. It doesn't matter. The trading pad is level 2. You can view the "debth of market" and that is why some people call it DOM(Debth Of Market). But they all mean the same. Trading pad is level 2, DOM -debth of market). I don't know what software you are using to practice and learn but each software calls it different sometimes. They have their own little wording to make it unique to their own software. But they all mean the same. If you are learning futures. I would stick with emini for now. The other futures you can learn later - like corn, wheat, cattle.