Trading ftse futures

[Mr. Charts]

Does anyone here trade these?
Does anyone use depth of market and integrate that with one minute bars?
I currently use Man Financial Jpats electronic trading, but will switch to gni.
Richard

 

[Mr. Charts]

I'm a little surprised there don't appear to be any ftse future traders here. Pity, I had hoped we could get a debate going.
Any nasdaq or S&P futures players?
Richard

 

[Trendy]

I was thinking of opening an acc with Man, why are you changing to GNI?
JM

 

[flea]

What abouyt these Easy2trade guys that are being mentioned on this sight?

I don't trade index futures at the moment but i'm interested in finding out a bit more.

For instance whats the main difference between trading indices and stocks do you find you need different skills or can you apply the same types of skills to indices as you would trading stocks.

I can see the obvious benefit of only having to concentrate on just a few charts but what about the argument that you are trading against a lot more pro's who are likely to have small and less well informed traders for breakfast.

I hope this thread expands so i can learn more.

 

[Naz]

I trade nasdaq stocks.When i want to trade the Nasdaq 100 index($NDX) i always trade the QQQ's.Just because its easy to key in the code and trade it on my level 2 nasdaq platform.

 

[Trendy]

Naz
Is shorting qqq subject to the up tick rule?
JM

 

[Naz]

Hi trendy,Shorting the Q's is not subject to the uptick rule,this is because it is traded on Amex.So if the market tanks and you cant get a short on your stock you always will on the q's,also because of the huge volume on the q's you can always get in and out with realy large size.

So maybe the q's dosnt move as much in points terms but with4/1 margin its easy to play it large and score that way.

 

[ChartMan]

For your further info, QQQ ia a 1/40th mirror of the NDX....so if you want the bucks, up the stakes by a factor of 40....

 

[Naz]

I look at trading the QQQ's like this.Yesterday

The q's moved from $34.25-$36.77 ie 2.52 points

An equivalent stock
BRCM moved from $33.5-$39.00 ie 5.5 points

Another equivalent
equivalent stock
VRTS moved from $29.5-$35.00 ie 5.5 points

If i would have traded x amount of shares to play these two stocks in the same price area what would number of shares would i have needed to get the same result on the q's.

The answer is 5.5/2.5=2.2 times my normal position size.

I have always found that that trading about 3 times my normal size on the QQQ's will give me the same result as playing a stock of the equivalent price level.

 

[Calypso]

Hi Mr.C !

I don't use DOM. Just use it to see if the mkt is being held but a lot of the time you'll its being spoofed with false bids/offers. You get this alot with the ftse/dax but not with the EuroStoxx.

Go with the chart dude ! Hope you got the Emini S&P running on Jtrader!

Rgds,
Calypso

 

[Mr. Charts]

Hi there Calypso!
Yes they eventually sorted the mini snp bug after others developed the same problem.
Only been using DOM for a couple of weeks and have reached the same conclusion as you about misleading bids/offers.
Charts rule!
Switching to gni anyway (will reply to other poster later as to why)
Thanks very much for your post - invaluable and helpful as always,
Best wishes,
Richard

 

[madasafish]

Now trading S&P minis with gni.
GNI very nice, fast minimal spreads make scalping easier..
Only still a beginner but most enoyable

 

[Trendy]

Mad
Did you look at Mandirect before going to GNI.
JM

 

[Mr. Charts]

Trendy,
Sorry not to have posted earlier. I meant to but simply forgot - wasn't being rude!
I have been using Man for 2-3 years for phone trading futures then asked to switch to electronic JPats. They quoted me £10/$15/E15 per contract - I paid that for a while then saw gni's prices of £8/$12 - Man then reluctantly agreed to £9/$12.
I discussed the situation with someone at gni I was introduced to and was offered a much better deal, having heard from others that there is some flexibility.
In addition I had considerable trouble with Man not being able to trade e-minis - other companies using the same software did not have the same problems - having checked with trader friends who used gni. Their technical support has been poor though they eventually admitted other traders were having similar problems - having originally said no-one else was!
And again they were most reluctant to allow me depth of market on the ftse - even trading many contracts a day! Again they agreed in the end.
I intend opening the account with gni next week and running both companies till sure that gni is superior - the compliance work is all done.
I would be happy to post my experiences of gni if you wish.
Sorry again for the delay in replying,
Richard

 

[options]

Hi Richard.
I trade the ftse future, but incorporate tick charts to help identify areas of support and resistance.
I used to be with Mann. but have recently changed.
Before you sign with Gni take a look at Easy2trade.com I think you will be pleasently surprised. Seeing as the min account bal is only £5000. And you get plugged straight into the Liffe floor and not via third party.
There is also a thread just started by chartman on the subject of Trade2.
Let me know if you like it.

John. (Options)

 

[options]

Hi ya Flea.
Spread of 1 to 3 ticks is the norm. How does that grab ya?
Much faster than shares and a different kettle of fish
But you get to pay the tax man rather then the sb's
John (Options)

What abouyt these Easy2trade guys that are being mentioned on this sight?

I don't trade index futures at the moment but i'm interested in finding out a bit more.

For instance whats the main difference between trading indices and stocks do you find you need different skills or can you apply the same types of skills to indices as you would trading stocks.

I can see the obvious benefit of only having to concentrate on just a few charts but what about the argument that you are trading against a lot more pro's who are likely to have small and less well informed traders for breakfast.

I hope this thread expands so i can learn more.

 

[flea]

sounds great options. Thanks for the reply. Ill take a look at the easy2trade web site

 

[Mr. Charts]

Thanks John(options),
I looked at it but need to trade emini nas & snp, which they don't do - will look again though.
Good to see there are other ftse players here
Maybe I'll start a thread on techniques - maybe we can all learn from one another.
Richard

 

[options]

Not a bad idea on the thread.
The only usa player here that I know of is naz. Don't know if he does mini's (don't think he does actually) but he may be able to give you some pointers.

cheers.
John.

 

[Naz]

Common mr charts lets have another thread on techniques.Then we can learn each others different styles of trading.