i would like to know how is it like trading 100 to 1000 contract , what are the fees and commission , overnight cost d whats so different with 5 to 10 contract , do i still get instant fill what about margin?
100 contracts ?!?!? You really give us a big shock. You must be very big timer. I presume you are talking about contracts like ES YM ... margin requirement: say $5k * 100 = $500 K profit / trading day : say $500 * 100 = $50K per day perhaps you should get CONTRACT SPECIFICATIONS from say CME website and understand further about it.
Liquidity is based on depth and liquidity of that symbol at that moment at that price. It will also vary based on the symbol you trade and how easy it is for a professional that has access to products that they can use to hedge that volume, to provide you that liquidity. Margin does not change with size. Risk does. Your FCM has to allow those limits based on your account size and balance sheet. I assume this question stems from the dream of playing bigger one day. The dream should be to get to consistent profitability. Looking at the top of the mountain does not help you hike to the top. Sometimes it is more fun at base camp.
losingtrader27, Sorry about your replies. We have an ignore function in ET if you find that you are being harrassed. Your questions were valid and it would be nice to hear some trading stories about how a trader got filled or if he used iceberg orders...etc Es
It's a bit like when you enter a furniture store and ask the salesman how much is that nice sofa. If you have to ask, it's probably because you can't afford it...
Check out the DOM. It will let you know what you can expect in the way of slippage at various times. Usually you can do a 100-lot with no slippage... a 1-tic split fill on a portion of it at worst. Costs/margins are proportionate as smaller lots.
What Scat said other than, if you are doing size you can negotiate a better commission rate with your broker and you would want to buy or lease an exchange membership.
futures - sp, german and us debts, all super liquid talking sp futures below. 90's the most i have traded was 1500 at a time that was the big 500 dollar contract using a hourly model that stayed in trades for about 1.3 average days. the trades would be given a 30 tick range to be filled at the discretion of the floor broker. he and his buddies would fill half if i was long call me tell me half were done. the market would dip and then the other half of the order would be filled. point is it took about 10-30 minutes to get confirmation back then. when they split the 500 contract making it 250 a point we slowed way down to a few hundred a trip. we started doing much more bond trading and got really big into that for over a decade. 02-05 i was trading 500 mini's each side so on a flip i was doing 1000. i was using a members account at the cme and we had fiber run up from the members server. my partner executed these trades on a tt platform and i would just call out what we were doing. we had oddball running automated but this trading was completely discretionary. the execution was really good and if you were just split second patient you could get what you want. though sometimes not instantly. i stopped trading to enjoy life family but kept perfecting the trading and really taking time to analyze the building blocks necessary to build a solid trading routine. i had always felt things could have been better than i was doing and knew something was missing. if your honest with yourself it's like every now and then it all falls apart and you don't know why. then back in the grove and your off and running, but still it haunts you. i had to fix that before i could go on.