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MB wrote last week:
> I also find the min. tick increment in the emini to be advantaged to the locals.
1) by definition there are NO locals in an electronic market (I know there is a
sleeping pit IF the minis machine collapses)
2) the 0.25 min tick in MINI is still smaller than the ticks in S&P....YES !
its no good to me that the MIN TICK in S&P is 0.10 in the rulebook, if the whole
market trades only halfes and evens (50/00) - even got a mail from LFG last
week :
**Effective immediately, our brokers in the S&Ps have declared that they
will be “NOT HELD” on price orders that aren’t either Even or Half, since
the market is now trading primarily at these price points.**
I think this is just CHEATING and RIPPING OFF the clients - see 9/22 last 30 minutes of
S&P range was JUST 1.5 BP´s, still it only traded MOST times 50/00´s...cant see a
reason for this in such a quiet market as it was at THAT time.
BIG spread between bid/ask are only good for one side - the market maker. The littly
guy has to pay it !
3) I love to trade mini´s weeks ago.......often got filled on limit buys or limit sells BETTER
than the S&P ever was at that time - however these days with hughe jumps often spread
of bid/ask is 75/100 points for 1 or 2 and someone pulls the plug for 20 or so moves
THAT mini price for 300 points while S&P only has .50 point range - this triggers allways
STOPS which would not be touched in S&P trading - so its no good anymore.
Not to mention the daily problem report from CME/LFG of "dont do this" and "dont do
that", which Im unable to keep track of.
Overall the mini WAS not that bad, but cant trade it these days - Im sure times will
change again.
rgds hans
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