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I'm a Mid Am member who just started trading off the floor. I usually trade
primary markets now but I still trade Mid Am's if I want to diversify ,or
scale out,and also I get my dues waived if I trade 50 round turns per quarter.
You can definitely trade bonds, beans, corn and wheat. Currencies are OK
too.
I haven't traded some of the other markets ,and I haven't been going down to
the floor lately to check them out. But keep in mind some markets like meal
only trade 20 contracts a day, and meats about 50. As far as trading Mid Am
grains during the summer months a lot depends on the volatility. When beans
are rockin even the CBOT beans become a 2 cent market. One thing is for sure
there is definitley more over night risk in the grains during the summer.( Not
sure if the previous post was reffering to market orders or over night gaps.)
The price disparity between primary and Mid Am markets can work for you or
against you. When an intraday rally in beans loses momentum the Mid Am beans
often start trading a half cent under the CBOT beans. On 7/13 I got lucky. I
placed a buy stop before the open to buy some Mid Am beans 601 stop. To my
surprise I was filled at 601. The CBOT beans opened at 603 1/2 . In April I
was long a Mid DMark. After a pullback allmost to my stop I watched it rally
thinking I was still long but the Mid traded one tick lower than the Merc and
I was stopped out. I mistakenly was watching the primary market but was in the
secondary market. Now where ever I think I should place my stop I often place
it 3to4 ticks away from that point to avoid being stopped out on a test of
support/resistence. I do this in the primary markets as well, and keep
reminding myself that even though the secondary markets try to mirror the
primary markets they are still two different markets.
Good Trading,
Todd
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