Bid/Ask and other Noob Questions

Discussion in 'Index Futures' started by toudeppots, Jan 13, 2006.

  1. Let's say the E-Mini is 1290 bid and 1290.25 ask. Also assume there is 500 on the bid and 500 on the ask.

    Noob type question:

    What constitutes a trade? If no one is willing to budge then in theory there will be no trades?

    Someone has to "cross over" right? If ten of the bids up their bids to 1290.25 then that trade is hit instantly--and vice versa?

    I'm looking at the time and sales and size data on my charts and got to thinking about this.

    There might be 1000 on the bid and 1200 on the ask, and it will show 1 or 5 or 10 traded at one of those two prices. So evidently someone blinked and met the price--I guess.

    What if there is a 1000 bid at 1290.25 and 1000 asked at 1290.25. Then I assume 1000 will show up as a trade at that price.

    I'm using live charts to get my feet wet (not the best I know) while I'm waiting for my IB account to get funded. Will I be able to see the data I'm talking about on IB?

    I was reading some old threads that said the IB chart function isn't the best. Has it improved, and is it usable nowadays?