somebody trade euribor boxes?

[ud5555]

hi.
his anyone using sta system 2 trade?

 

[davedavethetrader]

what is sta system?

 

[Lucky_81]

I presume your talking about Stellar, i've seen a demo by their sales team a couple of years ago and it looked quite good but have never actually traded with it. It's another server based system.

 

[davedavethetrader]

Funny how your boss only wants you to trade stratergys with multiple legs! Haha. Don't worry to much about what you trade, your only keeping the seat warm for the next commission victim!

Tell him you would like to trade oil outrights. Watching eurusd, stocks, and gold etc for signals. I wonder if it is then suggested that you trade oil flies!!


Ho ho ho. Merry xmas.

 

[Magos]

The sooner you realize how many round turns you generate ( bye bye profits) and also that you are not able to hold the position more than 15 days, because your head trader will be angry because you don’t do enough round turns... the better.

Believe me whatever you say to them it will make them angry.
Don’t even try to convince them to trade outrights.

Best option asks for more products.

 

[ud5555]

thanks guys...
u r so right!..we trade at the begining 1*2 i mean buy 6 month spread?*2 and sell the 12 month.
the problem we liked 2 hold the positin and avarege if it goes againt u.but 2 many times we had 2 cut the positin at the high/low move...while he push us 2 take even one tick profit.ofcourse if u take 10-15 tick stop and u make 1 tick from a good trade u wont do very well......
so we tried the flys he said u need 1 good trade and 3 scratz to live from the reabah...we didnt do well either.
i m paying 62 p a lot 1000 fix cost and i get 70% from the profits(no sallery)...i m doing between 8000-150000 lots a month. is 62 a lot expensive? is 1000 fix cost is expensive? we using staller and cqg(not the basic packege).pls tell me if this deal is right...
i must say in the last 2 weeks i made 300 pound clean a day at the boxes and spreads of the bor...
tell me what u think...thanks guys and i apolgized for my english...

 

[ud5555]

and another thing.i dont have the possbilty 2 trade the bor outright only at the metrix(spreads only). he said it because the outright is 2 risky....

 

[arabianights]

Well, think about it this way... £300 clean a day on euribor is equivilant to taking half a tick on one outright trade of 35 lots.

And the outrights move a lot more.

They're where the money is.

 

[arabianights]

P.S. Euribor outrights are not too risky if you apply a bit of common sense... on a day like today so far you can basically have done anything and you won't lose much

 

[Lucky_81]

I presume you mean between 8 and 15k lots per month not 150k lots? £1.24 is expensive for a professional trader, with the volume you are doing, you should be looking at well under £1. Your strategy sounds like it needs a bit of tweeking! If you are looking for 1 tick profit, you should be looking to scratch the trade or 0.5 tick loss at worst. Rebate trading is definately profitable but to be honest you will need to incrase your volume 10 fold (or at least 5 fold) to make it worth while. I imagine liffe will give you around £1000 in rebates for your volume (if your lucky) which will only cover fixed fees.

Personally I do not trade outrights on their own (too much risk for me), I do occasionally take them, but only on the back of spreads or bund etc.

Good luck.

 

[ud5555]

thanks lucky.i did mean 5-15 k lots

 

[davedavethetrader]

£1.24. boxes! flys! lol lol lol lol lol lol . you poor sod. literally. you know your paying over 30p A SIDE to your boss, you trade a 1 win to 3 scratch ratio, guess who gets rich(er) and who gets to trade on tomorrow? hmmm.

better idea, get a mate at a rival arcade, you go long non farm, he goes short. split the profit on the winner, leave the arcade with the losing account, go work with him or vice versa.... atleast 6 arcades in london alone.... reckon you could have a great year!!!

(disclaimer!!! obvioulsy i would never suggest doing anything like this for real, if you did, its fraud and you'd go straight to jail!! so dont do it..) lol

 

[ud5555]

we from isreal.we live from fraud of other pepole...lol...no serious guys 7k to 15 k lots a month in the bor i should pay max 50p a lot?

 

[Lucky_81]

Great idea Dave, i'll go short!

On a serious note, Dave is right, you will never be pofitable trading boxes and flys with those kind of comms. If you cant do anything about the comms, try to stick to spreads to save on the rt's.

Def sounds to me like your boss is doing very well out of you guys indeed.

 

[arabianights]

80 or 90p for a round trip should be the most on that sort of volume.

LIFFE fees are 25p a side.

And that's BEFORE the rebates you can get for trading back months, trading size, being a newbie (you know if you've just started out you don't have to pay LIFFE any fees at all, right?)

See this spreadsheet: http://www.euronext.com/fic/000/027/541/275411.xls

And this webpage: Euronext - Liquidity schemes > Individual trader

 

[ud5555]

what do u mean no fees? comission?

 

[arabianights]

Part of the fee you pay goes to LIFFE... That's 25p a side basic (on Euribor) decreasinng using certain schemes.

One of those schemes is in the first 6 months registered with LIFFE you don't have to give them any fees at all.

That's assuming you're registered with them as a trader... you got a mnemonic (I've got some Z8 you can have )?

 

[arabianights]

I've got some Z8 you can have

Too late, sold em... I was looking out for that :clap::clap::clap::clap:

 

[mauzj]

How do you guys execute your trades on boxes?

I tried using an autospreader and showed one leg, but ended up with message limit fines.

 

[ud5555]

i do it on the matrix