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Your regular commodity broker should offer 24 hour service. You place
your bid/ask as you normally would. Since all of Globex is electronic
trading (no open outcry system...pit), it does not accept stop, limit,
order cancels order, or any of the other "pit" accepted orders.
However, Lind Waldock was the first to offer a method of accepting
"limit" type of orders and "stop" type of orders. (These orders have a
technically different method of execution on Globex than on Day
orders). The CME does offer real time trading screens on several
products. At NO COST!!
If you will go to www.cme.com and select prices, then live price quotes,
you will be taken to an introductory page. I use Market Research. I
tried Townsend Analytics, but could not make it work. Follow the
instructions, register, and you can follow/trade the E-Mini, currencies,
and some of the newer products....24 hours a day!! It is great that the
exchange introduces a new product and makes it s-o-o easy to trade.
They will also send you a full package with trading approaches from four
of the top S&P traders. Included in the package is a CD with several
years of tick history. Again, all at no cost.
HOWEVER....be aware that 24 hour trading can be habit forming.
Al Taglavore
jeff f brady wrote:
>
> How do you trade on Globex ? Is there a special broker to use? Capital
> requirements ?
>
> Thanks
> JB
> On Fri, 23 Jan 1998 15:26:02 -0800 "Steven Buss" <sbuss@xxxxxxxxxxx>
> writes:
> >As mysterious as "overnight trading" may sound, I've come to believe
> >that
> >it's easier to trade S&Ps on Globex than during the day (not that one
> >can't
> >be successful during the day also <G>).
> >
> >The reason for this is that, although the trading volume is thinner,
> >the
> >speed with which small players must move to avoid losing their shirt
> >is
> >dramatically reduced most of (but not all) the time.
> >
> >The technical indicators that would lead one to be successful during
> >the day
> >(if only it didn't move so quickly) work the same way that they do at
> >night,
> >albeit sometimes they look a bit more erratic because of more price
> >gaps due
> >to volume thinness in the middle of the night. They just (usually)
> >move in
> >slower motion.
> >
> >The one problem is that one can't place stop orders on Globex. So, if
> >you're small like me you pretty much have to devote yourself to
> >watching the
> >screen for a few hours...
> >
> >I thought this would be interesting to the list given Equis delivering
> >a RT
> >product at some point.
> >
> >Steven Buss
> >Walnut Creek, CA
> >sbuss@xxxxxxxxxxx
> >
> >
> >
>
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