I had a stop "triggered" today while trading the DAX. I was long and had placed a stop at 2903.00. About 15 minutes later it was triggered at 13:21 EST. The problem is that the lowest print on my charts was 2903.50 (I use eSignal). It bounced up off the 2903.50 number and there wasn't any indication of a trade at 2903.00, so I called my broker immediately. They at first agreed since their charts showed the same thing. They called Eurex and got the time and sales and it said 2 contracts were sold at 2903.00 and that sometimes the data providers only update every 1/2 or 1/3 of a second- thus missing a few trades. I thought this was a little odd so I called my broker again and they happened to have a guy in the office giving a demo of Bloomberg's charting software. (This is a $1700 a month software.) He pulled up his charts and same thing- no print below 2903.50. Have any of you had this happen and is there anything I can do? I can't believe 3 different data vendors would miss a trade. Also, does anyone know if there is a TICK for the DAX? I assume it would be on the cash index, but I can't find one. Thanks!
From what I understand, Eurex sends the same data to all providers. Given their volumes the data does not contain every tick.
this happens alot on the stoxx 50 also, bund and everything. It will get within your price, where you are at the inside, and the stops go off, the prints never show up but you get out at the price. I have seen this happen many times on the stoxx 50. say I am long the 10 with a stop at 6, all the 7 get printed so 6 shows up on TT at the inside, no prints will go off there because it will show no prints, but TT will show it as the new low and you will get filled on your stop at 6. Found out from other eurex traders in chicago that this happens so often they very rarely use stops, just keep mental stops in there head and pay attention and hope it doesn't plow through your stop level. That is what happened to you on the dax, since you would have been the next level. My esignal will not show a wick or candle to the price, yet it will say that the new high or low is this price on the snapshot window. Welcome to the eurex, use stops carefully. A better example of this is when you will go to new highs or lows and all of the sudden your TT trade ladder will show that a new high is 3-4 ticks higher. the esignal snapshot will show this as the new high also, but the candles will not be up to it, and your TT time and sales will show no prints there. Someone really got screwed on their stops in these cases.
Thanks def and speed. Not really what I wanted to hear Great info speed. I use TT along with J-Trader and I now see what you mean. Kind of scary not using stops on the DAX with the way it will blow through 10 levels without blinking. I think I will keep my stops, but be ready to move them if the charts warrent it. I was thinking the STOXX would be better, so I'm glad you mentioned the problem there as well. Anyone have any into on a TICK for the DAX?
Thanks for posting, soho, and letting the rest of us learn from your experience. I'm not a networking expert, but it seems to me Eurex ought to be sending out every tick. Sure they do a lot of volume, but trade reports are small data packets and you can send out an awful lot of them every second. And the DAX doesn't trade THAT many times per second.
thanks, good info as I am thinking of trading the DAX does anyone know if the CME send out every tick?