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Wingz
Registered: Apr 2012
Posts: 23 |
05-10-12 08:06 PM
Quote from the1:
When I started trading with a Prop firm they started me scalping on the 5-year because it wasn't as volatile as other instruments. I think it was a good instrument to start with. Once I had success with that I moved on to other instruments but starting with the 5 is a good place to get going.
Not sure what I'm going to be put on initially, I'm ok with volatility - having legged into the bund/bobl/schatz fly, especially in the last half of 2011.
Where I used to trade the guys who got started generally traded the Oil FLY and would wait hours to get legged into a trade, it was all about the queuing, whereas the fixed income fly guys would usually be in within a minute or so.
Can't really say much more until I get started.
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Wingz
Registered: Apr 2012
Posts: 23 |
05-10-12 08:25 PM
Quote from kinggyppo:
ok I see what you are saying, you are spreading. In options calendars you are selling short front month strike and buying the next month, so it a play on volatility. you may find this link useful, quasi related.
http://www.cboe.com/micro/oilvix/introduction.aspx
Thanks that's really interesting and definitely relevant - (off the top of my head) if nothing else than it will give me an indication about the trading environment and whether I should scalp or swing. Ill have to read and test into it further then try to find some sort of correlation.
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Wingz
Registered: Apr 2012
Posts: 23 |
05-10-12 09:37 PM
Quote from ggold:
Good Luck Wingz , I'm looking forward to your journey.
Thanks ggold, I appreciate the support.
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Wingz
Registered: Apr 2012
Posts: 23 |
05-20-12 04:46 PM
First week
Ok so a quick update, nothing crazy in my first week. The guys were just teaching everyone the mechanics of how to use the front end software. It's what I was using previously so a nice refresher.
We will be using a spread matrix to get an overview of the markets and even enter orders through it, I personally prefer ladders but I can see that after everything clicks I'll be able to see lots of opportunities with the spread matrix.
Some of the questions Ive been asking myself this week that I'll aim to properly answer when on the sims.
How can I determine what the 'curve' is doing?
what are the fundamental factors that influence this market and are there any tradeable opportunities?
How can I anticipate 'fills'?
What is the correlation of the back month spreads to the front month?
how does volatility change when you increase the time between two contracts?
what is a 'free' trade - how can I find them?
am I able to program in relationships using excel to alert me to possible areas of value?
when should I build a 'synthetic' spread out of building blocks (e.g build the 6 month from two 3 month spreads) - what are the costs and benefits of this?
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Other than the trading - I'm sticking to a good diet; I feel I need to add some more carbs during the day to keep my brain working, so I might add a little pasta to the food I bring in. Going to the gym consistently, keeping a good sleep cycle.
Just building on from here I guess!
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