Can you make a living trading futures?

Discussion in 'Trading' started by born2trade, Sep 27, 2001.

  1. Fohat,

    I saw it in IB's TWS but there are no symbols that represent different participants. Is it just that IB doesn't provide such info or it is not actually available?
     
    #21     Sep 29, 2001
  2. Aranha

    Aranha

    Dear All,

    which data vendors/softwares offer this "MARKET DEPTH" for futures?

    I know that Tradestation Pro doesn't, because I have it.

    Thanx.

    ARANHA
     
    #22     Sep 29, 2001
  3. Fohat

    Fohat

    michaelday,

    There are no middlemen in emini futures trading(no MMs). Hence, there are no symbols for different participants(middlemen). It's like trading on one big ECN. Market depth is like Island book. Do you see any symbols that represent different participants on Island ECN?

    Fohat
     
    #23     Sep 29, 2001
  4. Thanks Fohat,

    That's what I needed to hear.
     
    #24     Sep 30, 2001
  5. tymjr

    tymjr

    Aranha: “which data vendors/softwares offer this "MARKET DEPTH" for futures?”

    Any broker using Patsystems J-Trader. IB offers a DOM feature of their own design. In addition you can view, courtesy of vitajex, the CME’s free web version:

    http://207.121.190.247/WebQuote/fortune50a.html
     
    #25     Sep 30, 2001
  6. gemini_315

    gemini_315 Guest

    tymjr,



    Do you day trade or do you hold positions overnight? I currently day trade but am looking to improve my risk to reward ratio and am considering holding positions overnight. Any thoughts on this?

    Also, how many points are you normally trying to pick up?

    Thanks.
     
    #26     Oct 31, 2001
  7. gordo

    gordo

    In regard to the market depth, does it work similarily to level II for Naz? Being new to eminis, can you hit the bid or the ask to buy or sell? Or how do you use this info in trading these contracts?
     
    #27     Oct 31, 2001
  8. tntneo

    tntneo Moderator

    we call it level II only because you see more than the inside market. it does not work like nasdaq. It only shows you the book. there are no market makers on futures.
     
    #28     Oct 31, 2001
  9. aha depth of market! ...

    IB DOM is worthless, it's like 2 seconds behind, like what they have for stocks. I would like them to fix this problem but anyway I think this info has little value for the eminis. I personally never liked to trade off Nasdaq level 2, by the time you see something it's often late already if you are not a scalper. The one thing I would like to know though from those who have a fast DOM feed is if they are able to tell if a support or a resistance is likely to hold .
     
    #29     Oct 31, 2001
  10. The problem with DOM is that it only covers the globex, not the pit session where the real volume is. It doesn't really matter what is sitting on globex for the mini's if Goldman or Merrill drops 500 big contracts on the market.
     
    #30     Oct 31, 2001