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Electronic markets will win because these markets trade faster and cheaper.
That is the real force behind it. No matter if we like that or dislike that.
We have to live with it.
Ed
----- Original Message -----
From: "Gary Fritz" <fritz@xxxxxxxx>
To: "omega" <omega-list@xxxxxxxxxx>
Sent: Saturday, September 29, 2001 9:17 PM
Subject: Re: Continuous contract Emini NASDAQ
> 1. you may wish to try big nas futures instead of mini, as there
> are occassional huge stop runs in the minis that distort things.
It's absolutely true that the minis hit "air pockets" of low
liquidity and a big order can spike the market dramatically. For
that reason I usually don't use resting stops in the minis. I also
usually run my systems on the big contracts, so they don't get fooled
into a false entry/exit.
However, I would never go back to big SP/ND. The fills are vastly
better in the minis, spreads and slippage are much less, you don't
get robbed or "out-traded" by the boys in the pit, your small order
has equal priority with any large order, and you have much better
visibility of where the market is NOW.
I believe the minis will only get more liquid, and the big contracts
less so, as time goes on. The minis are already a better market than
the big contracts for anything less than about 30-50 ES's, or more.
I haven't traded that size in the pits, but I think they still work
big size in the SP pit pretty well. The ND pit was always a ripoff
when I traded there and it may well be worse than the NQ's for ANY
size.
Gary
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