Who should I let rob me?

S

SideShowBob

I'm going to start trading silver, but I can't decide if I should use ECBOT or COMEX. Since right now I'd be using the COMEX pit I know I'd get robbed there (I'll be using stop market orders).

Can anyone weigh in on the liquidity on ECBOT during the regular session -- is silver liquid enough to not get robbed there as well?

SSB
 
Quote from SideShowBob:

I'm going to start trading silver, but I can't decide if I should use ECBOT or COMEX. Since right now I'd be using the COMEX pit I know I'd get robbed there (I'll be using stop market orders).

Can anyone weigh in on the liquidity on ECBOT during the regular session -- is silver liquid enough to not get robbed there as well?

SSB
More...

The liquidity is horrendus on the screen.....I know the pit can suck at times with running stops and all.....but the slippage you will experience on the screen will be frightening.....stick with the pit....
 
the taxes are higher if you actively trade SLV than silver or mini silver futures but the spreads are often tighter in SLV
than in futures during the 9:30 - 4 pm EST time zone
 
its funny but sometimes the spreads in silver futures are tighter

AH ( after hours ) than during reg. hours

and it is easier not to "chase" the market during those times
but beware ... if you try to use a "stop" order slippage can on occasion be horrible on ECBOT silver
and the "market makers " play games all the time
in AH trading ... on both comex and ecbot metals
I sometimes complain to the ECBOT people
that if I want a tighter market I have to force them
to tighten the spreads myself by making them compete
with my "tighter spread" on the metals
 
I ended up placing a pit order, stop market at 1145.5 and I was filled at 1147 (1.5 cents from the high of the day!). Not ideal, but a learning experience. I'm using Tradestation's pit trading through RJ O'Brien, so far it's been OK, although I can't really judge the fills since I don't have anything to judge against.

I may try a stop limit order with ECBOT and see how that goes, although I may instead move to trading 2-3 mini silver futures on ECBOT instead -- I don't like how big the large futures are....too easy to lose your shirt....

SSB
 
Quote from SideShowBob:

I ended up placing a pit order, stop market at 1145.5 and I was filled at 1147 (1.5 cents from the high of the day!). Not ideal, but a learning experience. I'm using Tradestation's pit trading through RJ O'Brien, so far it's been OK, although I can't really judge the fills since I don't have anything to judge against.
More...

Can you put up an ecbot bid/ask and see how that compares to your pit fill?

When the market is moving, I'd guess your thread title is spot on: either you do it yourself and hit the bid/ask 50 points away, or have to sit and wait a few minutes for them to tell you you were filled 50 points away. :)
 
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