you need to get out of you FEB04 contracts a few days before first notice day this week ... or at worst the day before First notice day
SethArb, Do you have the YG Feb'04 chart or quote for today? For some reason, IB LIQUIDATED my YG Feb'04 at 9:40am this morning at 404.60! WTF?! I was in it yesterday at $403.90. And it SETTLED yesterday at 406.70. And now it's at 410. It NEVER got to 404.60. WTF?! I bet IB screwed that shiet over. I need to see an intrady chart. No when was it at 404.60 ! geez! What is the actual procedure for liquidation? They sold me RIGHT into the low of the day! f**kers! This is freakin' ridiculous!!! I should bought the March '04!
not sure why you were liquidated today any chance you crossed over into maintenence margin zone thus forcing a liquidation ? there is a chance today was the day for liquidation of Feb04 I thought it was tomm by the close , but I have emailed IB on this ... as far as your price goes ... looks like some stops were hit in YG before 10 am ... and I assume the 403-404.50 area are valid trades for today even though the big GC (comex)seems not to have traded below 405 (?) ECBOT has no bust $2.00 zone for YG vs GC which if enforced would validate those prices good luck setharb
as you get more experienced in trading mini gold futures ... remember the lead months in gold futures Feb, then rollover into April , then rollover into June , then rollover into August , then rollover into Dec , over the course of a calendar yr now mini silver is different March is the lead month presently
SethArb, thanks for your response. I know IB forced liquidation because they dont' want to take any physical delivery. And my account has plenty of capital so no margin calls there. WTF?! I just can't believe this. But why did it liquidated at 9:40am. I emailed them and yet didn't get a response yet. Same thing happend to Jan'04. They liquidated me on Dec 29,2003 right before the big move!
Dear Trader, Here from our web site is the information you are looking for that can answer your inquiry: Expiration Liquidation Rules for Physical Delivery Futures For futures contracts that are not settled in cash but are settled by actual physical delivery of the underlying commodity, customers may not make or receive delivery of the underlying commodity with the exception of certain currency futures contracts where physical delivery of the currency will be received*. For long positions not settled in cash, customer agrees to roll forward or close-out the position by offset three (3) business days prior to the exchange-specified first notice day (the long "Close-Out Deadline"). For short positions not settled in cash, customer agrees to roll forward or close-out the position by offset three (3) business days prior to the exchange-specified last trade day (the short "Close-Out Deadline"). It is the Customer's responsibility to make itself aware of the "Close-out Deadline". If a customer has not closed out any position in a futures contract not settled in cash by the "Close-Out Deadline", IB has the right but not the obligation to liquidate customer's position in the expiring deliverable contract. Please note that due to the fact that short positions in physical delivery contracts are allowed by IB until 3 business days prior to Last Trade Date, a customerââ¬â¢s working order to close out such long position (e.g.; a sell order) may continue to work even in the event of an IB liquidation of that long position. Based upon this fact, the customer should make trading decisions accordingly. ZB, ZN, ZF are set to close out starting 2 hours before the open outcry close on the last day while ZT will use the entire last day to close out. FGBL, FGBS, FGBM contracts on DTB will close out starting 2 hours before the close on the last day. * AUD, CAD, CHF, EUR, GBP, JPY and HKD contracts will physically settle into cash. Please check www.cme.com (or the appropriate exchange) for the most recent list of physically delivered US cash settled futures contracts. à If you have any further questions, please feel free to contact us again. Regards, JohnW IB Customer Service
anyone have any additional experience with the e-mini's gold and silver? CBOT has a live book on their website during trading hours. looks kinda thin to me. being semi retired and basically lazy, I have some time to watch TV and thought about laying in wait for the next "geopolitical event" to trade some metal.
mini silver less liquidity and more volatile if you are going to watch gold market I suggest you also keep an eye on XAU index as well as US dollar strength and weakness good luck other things ranging from bonds to beans to sentiment to moving averages can affect movement