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Well, on daily charts bonds were trending since early June while equity
indices weren't, so anything trend-following would have made money in bonds
and been chopped in indices.
When trading electronically slippage isn't really an issue anymore, I often
get filled exactly at my price or at most one tick away. Liquidity is good
as soon as Europe wakes up and stays that way until the USians go home.
Eurex has the same issue regarding no stop limit orders, and again, as long
as the liquidity is there, slippage isn't a problem. Just don't try
trading CONFs ;-)
Regards,
Stefan
At 09:35 16/08/03 -0600, John Blucar wrote:
Curious about bonds.
Seems lately they have exhibited much more trending than SP and ES --- as
well as healthy price movement. On the other hand index futures average
daily range has contracted --- and price action is way spasmo quite often.
On my charts each electronically traded "handle" of 5 Bond ticks is worth
$156.25 compared to each ES point of $50.
therefore, roughly 3 ES points equals one bond "handle". I see quite a
bit of price action in Bonds last several weeks that could have been
traded very easily by simple trendlines and netted a very nice gain.
My observations indicate either trading the opening range breakout of the
open till 9:30 CST period ---- or trading reversals which penetrate a
morning trendline would be quite profitable.
Only problem I see is that CBOT does not allow stop limit orders ---- so
you would have to accept a lot more slippage on entry fills . . .
Any comments appreciated by those who trade bond futures . . .
John
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