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<DIV><STRONG><EM><FONT color=#000080>Does anyone have Tick Data from 1980-1982?
where will I find it? Thank You DB</FONT></EM></STRONG></DIV>
<BLOCKQUOTE
style="BORDER-LEFT: #000000 solid 2px; MARGIN-LEFT: 5px; PADDING-LEFT: 5px">
<DIV><FONT face=Arial size=2><B>-----Original Message-----</B><BR><B>From:
</B>Gary Kramer <<A
href="mailto:gmkramer@xxxxxxxxxxxx";>gmkramer@xxxxxxxxxxxx</A>><BR><B>To:
</B>Real Traders <<A
href="mailto:realtraders@xxxxxxxxxxxx";>realtraders@xxxxxxxxxxxx</A>><BR><B>Date:
</B>Friday, July 30, 1999 7:06 AM<BR><BR></DIV></FONT>
<DIV><EM>
<DIV>Anyone have any experience and/or care to comment on Tom PrindaVille's
Matrix System for S&P?</DIV>
<DIV> </DIV>
<DIV>Regards,</DIV>
<DIV> </DIV>
<DIV>Gary</DIV>
<DIV><BR></EM><EM></EM></DIV></DIV>
<DIV> </DIV>
<DIV><EM><BR>Gary Kramer<BR>Oak Park, IL 60302<BR>1-877-866-9761
(Voice mail and Fax)</EM></DIV></BLOCKQUOTE></BODY></HTML>
</x-html>From ???@??? Fri Jul 30 13:29:27 1999
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From: "Mark Morrison" <mmorrison@xxxxxxxxxx>
To: "Tom Alexander" <gta3@xxxxxxxxxxxxx>,
"RealTraders" <realtraders@xxxxxxxxxxxx>
Subject: RE: Mini/SP discrepancy
Date: Fri, 30 Jul 1999 14:03:12 -0500
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Status:
Tom,
My E-mini clients test and trade systems based on the S&P, not the E-mini,
so both the entry and exits must be triggered off the S&P, not the E-mini.
I give them a choice how they want their stops to be handled, and many
prefer the method I use. How about traders that don't use any stops, or use
"mental" stops? This is better than a mental stop, because I am not
emotionally attached to the trade. My only handicap is the how fast the pit
reporters transmit information. Earl is right -- there is always a delay of
at least a few seconds.
When the market goes nuts and you get a lousy fill in the S&P, but T&S shows
you were filled 30 seconds after the stop was triggered, do you think you
will get a cash adjustment from the floor broker? I doubt it. If we ever
do have a 40 or 50 handle surprise in 60 seconds, you may get slaughtered
whether your order is working in the pit or not. There is great risk in
trading futures, and everyone should know that. The most extreme case of
market speed I can remember was Oct 15th, 1998, when the Fed cut the rate
and the market shot straight up. On a 1031.60 buy stop, I filled the
E-minis at 1032.00, less than 1 handle slippage. On the exact same buy stop
working in the pit, the floor broker filled my regular S&P at 1034.00, 2
handles worse than my E-minis -- and even that was a great fill!
As far as feasibility, it takes literally 1 second to enter a market order
(two buttons -- Buy Market then Transmit; or Sell Market then Transmit). A
dozen orders at the same price are not a problem. How do you think floor
brokers in the pit handle multiple orders? Borrowing a line from The
Negotiator, "You have no idea what I am capable of."
Have a good weekend.
Mark
> You are playing Russian Roulette with your customer's orders. There is no
> way anyone could do what you are purporting to do on a large number of
> orders, or even just a few at the same price point. The next time you are
> sitting there with half a dozen or so stops not already placed in the
> market and there is some 40 or 50 handle surprise in about 60 seconds, you
> (and your customers) are going to get slaughtered. You are missing the big
> picture.
>
> The few times the mini makes a price excursion beyond the regular S&P is
> just not worth the risk you are exposing your clients to by not having
> stops in the market. Not only that, but if you want to stare at the screen
> and feel there is a sufficient number of those excursions to justify not
> having a stop in the market, why not fade them. You, not to mention your
> clients, would be exposed to much less risk.
>
> Regards,
>
> Tom Alexander
>
> ----------
> From: Mark Morrison <mmorrison@xxxxxxxxxx>
> To: kernish@xxxxxxxxxxxx; mguess <mguess@xxxxxxxxxxxxx>; RealTraders
> <realtraders@xxxxxxxxxxxx>
> Subject: RE: Mini/SP discrepancy
> Date: Wednesday, July 28, 1999 6:48 PM
>
> Steve --
>
> No, I don't jest -- I do this for many of my clients. The fills are
> usually
> very good, sometimes better than the regular S&P stop price. Occasionally
> I
> do get a bad fill, but what really matters is that we avoid stops getting
> hit that shouldn't be hit because the E-mini went crazy but the
> regular S&P
> didn't.
>
> How do I do it? I use CQG for quotes (the best available), price alerts,
> and electronic order entry. I sit at my desk 99% of the trading day, and
> wait with my finger on the trigger when a stop gets close. If there is a
> real move underway in the S&P, I can usually beat the majority of E-mini
> traders who have slower quotes and/or a slower order entry method.
>
> Mark Morrison
> Professional Market Brokerage, Inc.
> Chicago, Illinois
>
> > -----Original Message-----
> > From: owner-realtraders@xxxxxxxxxxxx
> > [mailto:owner-realtraders@xxxxxxxxxxxx]On Behalf Of Steve Karnish
> > Sent: Wednesday, July 28, 1999 3:35 PM
> > To: Mark Morrison; mguess; RealTraders
> > Subject: Re: Mini/SP discrepancy
> >
> >
> > "Another alternative is to ask your broker to hold your stop orders and
> > wait for the regular S&P to hit the price before executing a
> market order
> > in the E-mini."
> >
> > Certainly you jest?! Please explain how waiting for the regular
> > S&P to hit
> > a price would prevent an ugly fill in the mini. Most brokers
> won't think
> > of taking the contingent order you described. Do you stare at
> the screen
> > and "time stamp" the ticket the moment the regular S&P hits the
> price? I
> > find it hard to take orders, enter orders and chew gum at the
> > same time ...
> > without having to monitor every tick. I guess I'm confused about the
> > logistics.
> >
> > Steve Karnish
> > CCT
> >
> >
>
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