So hypothetically what would I need to have a proper bash at this trading lark?

scose-no-doubt said:
you sure euribor isn't eurex?
Click to expand...

yeh looks like it's offered on liffe too.

Just assumed that since they have Libor... or is this euribor a diff contact?
 

Attachments

  • bor.JPG
    bor.JPG
    110.7 KB · Views: 163
scose-no-doubt said:
you really don't through thread do you dash ;) velocity has been crossed off of the list.

you sure euribor isn't eurex?
Click to expand...

sorry I dint see about velocity (why?)

lots of exchanges have the same products but only one will be liquid enough to trade. So while eurex DO have a euribor contract, all the action is over on the liffe.
 
scose - honest advice, stop wasting your time and do some research! you want to go trade STIR's 'because everyone else seems to do it' - well your inability to work out which exchange everyone trades them on is just the first of many errors you are bound to make when you are doing things 'because everyone else does'.

Rather than researching brokers why not research futures markets. If you want to trade, but don't want to go down the SB/FX/retail ****e route then futures are a very good shout, but you need to know what you are doing. Why not do thorough research across all futures markets, get a good basic grounded market awareness, and read some books. That way you can start to have a clue where your **** is in relation to your elbow. Seriously, try and knock up a crib sheet for a wide range of futures markets, focus on their history, trading, pricing, volume/benchmark status etc. and I am sure there are some intro to futures books you could also read.

Surely, before you take the plunge you might as well know what you are getting into.
 
rosehound said:
scose - honest advice, stop wasting your time and do some research! you want to go trade STIR's 'because everyone else seems to do it' - well your inability to work out which exchange everyone trades them on is just the first of many errors you are bound to make when you are doing things 'because everyone else does'.

Rather than researching brokers why not research futures markets. If you want to trade, but don't want to go down the SB/FX/retail ****e route then futures are a very good shout, but you need to know what you are doing. Why not do thorough research across all futures markets, get a good basic grounded market awareness, and read some books. That way you can start to have a clue where your **** is in relation to your elbow. Seriously, try and knock up a crib sheet for a wide range of futures markets, focus on their history, trading, pricing, volume/benchmark status etc. and I am sure there are some intro to futures books you could also read.

Surely, before you take the plunge you might as well know what you are getting into.
Click to expand...

(y)

yeah have to say scose that things like getting the exchanges mixed up / not knowing if PDT rules applied to options or futures etc... this is basic basic stuff that really you should have picked up at lease by osmosis from being on a trading (lol) forum.
 
Why would I have picked any of this up if the focus is on forex spreadbetting? Esp in relation to US rules. I've never even considered a US broker until this thread.

Fair points made though and am considering.
 
scose-no-doubt said:
Why would I have picked any of this up if the focus is on forex spreadbetting? Esp in relation to US rules. I've never even considered a US broker until this thread.

Fair points made though and am considering.
Click to expand...

If you had an inquisitive mind you might have picked some of the basics up, in my opinion - especially seeing as Google opens all this up to you.

In terms of brokers - you are now looking at real brokers who connect you to the markets, rather than bucket shops like CMC/IG or whatever who fleece you. The reason you are looking at US brokers is because they are more willing to take on retail level accounts as futures/options are, after a fashion, more developed in the states. All UK based brokers offering this service will want large minimum account sizes (say £25k down).

In terms of learning, the CME website has good articles and education areas I think, and a 'Find a broker' page:

http://www.cmegroup.com/tools-information/find-a-broker/broker-directory-na.html

http://www.cmegroup.com/education/index.html

That last link has a section about market fundametals, and another section on strategies.

Other Exchanges tend to have PDF 'Product Brochures' that will give the specific history and background to their products, i.e. Brent, so you can find out about refineries and cracks and all the good stuff:

https://www.theice.com/publicdocs/ICE_Crude_Oil.pdf

The below website is sadly I think a rip off of a thread on here, but nevertheless its all in one place so who cares - that is the kind of thing a place like Futex or Schneiders would make you go through if you went on their training course. Is it for everyone? no Will it make you money? no Why do they make you do it? **** knows, maybe to instill discipline and market awareness etc. read through it, it's pretty good. (FYI at STA's oil course you have to memorise the members of OPEC - by heart - and I think some ppl find it a waste of time etc. until some countries start having reveloutions etc. and you can't remember if they are oil producers or not and by the time you have googled it you've done your ar$e)

http://www.proptraders.net/free-prop-trader-training/

Think about how people are making money out of the markets, why they trade the market they do - once you know how they differ and the basic structure then you can start to think about this.

You, as a rank amateur, are considering trading 3mo Euroswiss in Arab's style (it may be referred to as tick whoring, nothing at all wrong with it either!). First chart below is m1 swiss, second chart is Jun11/Jul11 Gasoil (month3 vs month 4 on the ICE gasoil curve - one tick = 0.25 and is worth $25). Both are from Thurs morning to now. Why do you think swissie is a better market than gasoil spreads? Because Arab will tell you how to trade swiss but there is no one doing the same thing on Gas? Maybe that's the right call on your part, but I don't think anyone could claim you are making an informed decision.

http://futuresource.quote.com/quotes/chart.action?symbol=S+M1-EIR&chartMinutes=30&chartAggregation=V

http://futuresource.quote.com/quote...:GAS1N-ICE&chartMinutes=30&chartAggregation=V

I'm not trying to have a go, and seeing as I told you to go learn something in my last post I thought it only fair that I give you some pointers. Futures and the way they are traded are not a closed shop, the brokers and exchanges and arcades WANT you to find out about the markets, so you can go and give them cash! Have a look around and see what's what.
 
scose-no-doubt said:
Hi, my name's Mr Kettle. Are you Mr Pot?
Click to expand...

Is is this the thing where the pot calls the kettle a nigger?

P.S. Rosehound, I don't think he should do june swiss anymore. It sounded good when I recommended it but it ain't trading enough. I've been sticking in 3-digit orders and doing like 8 round trips a day on it (today was slightly different though... I managed double digits!). But he can deffo do tick whoring, just needs a bit more flexibility about precisely which bit of the front end. In no case is schatz the right answer to that on his budget. Pro rata type fill algos are gonna benefit him hugely.

P.P.S. Mr doubt, other people here have something of a point about how you ought to have picked things up more, but I have bloody good reason to think they don't quite get the way you've been looking at things and I'm much more optomistic
 
Last edited:
arabianights said:
P.P.S. Mr doubt, other people here have something of a point about how you ought to have picked things up more, but I have bloody good reason to think they don't quite get the way you've been looking at things and I'm much more optomistic
Click to expand...

What cos I are accountant and only seed the spreadbettering this stuff is quite industry specific and you wouldn't really know and stuff?

And take that nigger thing down immediately you honkey ass.
 
You must log in or register to reply here.
Top