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a couple of my buds are mid am members and trade on and off the floor.
membership moves from 10-30 thousand depending on the season(price of cbot
seats...availability of renting cbot seats. price of commodities etc......but off
the floor you pay about a buck a trade and when trading other exchanges(cbot,
cme you get a deep discount)(traders discount).you might want to check out a
seat.you can always sell it.l
rich t
Bob Hunt wrote:
> Brent,
>
> I have traded MidAm Bonds on and off for basically the same reason
> that you're interested in doing it - reduced risk. I especially like
> to use them when I'm trying out ideas that haven't quite stood the
> test of time yet. I've noticed that they track their big brother very
> closely, but typically not with near the number of ticks at each price
> level as their big brother. I've also noticed at times, today for
> example, when the market is stuck in a trading range, the big guy can
> hit outside the range for a while before the Midam tags along - the
> result of lower liquidity, I'm sure. If you place a limit order near
> the edge of the trading range, sometimes you can see the big guy go
> through it, but the Midam hasn't yet, and may not, so it makes you
> wonder for while whether you were actually filled or not.
>
> Other than that, I've not noticed much difference. Market orders are
> usually filled right away. I think its a great place to start trading
> the bonds, or to try out new ideas.
>
> BTW, Brent, what is this "mytrack" that you mention in your post.
> Real-time quotes at that rate sound very reasonable!
>
> Bob Hunt
> --------------------
> BrentinUtahsDixie wrote:
> >
> > RT's,
> >
> > I know that MidAm was discussed recently but out of boredom (my position
> > options trades don't require much attention most days) I have been thinking
> > about day trading the Mini Bonds. There would be several advantages to
> > this. Namely less risk because of the half size contracts and I could get
> > real time MidAm quotes from mytrack for about 32.50 per month(that includes
> > the exchange fee for MidAm). You bond traders: what other than less
> > liquidity are some of the drawbacks?
> >
> > Regards,
> > Brent
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