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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
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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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