How about trailing your stops on the eCBOT markets? Plenty liquid during a parabolic frenzy like the last few days, and you avoid the not held pit chicanery.
Setharb, Here is the chart you asked for. SI monthly 1978/84. Cheers! <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1046095>
Good analysis...on baLance i still think electronic markets are better. E-CBOT Silver is still not very Liquid hence you caN have occasional bid/ask jumps...hence the need for stop-limit (native or simulated). The thing to note is that in the pit during fast markets there is the temptaion by the broker to make money off you via 'slippage' and bLame it on a fast market. In electronic markets the machine is not 'dishonest" and WYSIWYG!
One more hting ublike the CME and at times CBOT where you can get positive slippage in the deep liquid SP/US/TY markets, on the NYMEX/COMEX even in liquid markets like crude, the brokers almost never get you truly good fills/positive slippage.
did somehing screw up in silver a few minutes ago, i have a spike down to 11.60. did one of you lean on the sell button?
Listen romik, stop trying to infer you know something about this market (or markets in general) that the rest of us don't. It's a very belligerent attitude to have. BTW what happened to all the selling you predicted in the silver market today?
the joys of dealing with the COMEX Silver Options - As of April 21st Our brokers in NY are accepting MARKET orders only for all new, and replaced orders. All COMEX contracts Until further notice, NY brokers are not accepting cancel replaces from Day orders to GTC's and vice versa. All Comex Products The COMEX exchange will no longer accept GTD (Good Through Date) orders. Comex Options Will accept Cancel Replaces to the Market Only. GOLD and SILVER Options are accepting orders in .50 cent increments only.
what is your source for this info ? ps ... I used to work on the floor ... and can understand why floor brokers would do this they really can have huge errors if they get customers orders confused under the recent vol. in the silver and gold markets
I think you misunderstood me my friend. I am not trying to influence people that know how to trade silver, I have been raising caution with novice traders who were taken in by the price advancement in silver, what I've said before - actually happened yesterday ie sharp sell off. Please read my previous posts. For today it was not a forecast and i believe I did mention it, nobody knows what tomorrow will bring. If you know what you are doing, then there is no reason even reading my posts on this thread, not to mention replying to them, as if I am trying to teach you how to trade. There is always next week and the week after and another one, we will see whether I was right or wrong. I would love to be wrong to be honest with you. http://www.elitetrader.com/vb/showthread.php?s=&threadid=64981&perpage=6&pagenumber=44 In the end of the day all I would have lost is $1, a novice trader going long right now COULD have lost a lot more than that or would you disagree? Romik
I'm a novice trader (when it comes to futures). I appreciate the commentary of EVERYONE on this thread thus far. Including you, Romik. Anything that I can learn from makes me a better trader. I don't take anyone's word here on an anon forum and put my life's savings into the move they say. I simply listen. I try to learn. The only problem I see is that some of you are so advanced that you abbreviate terms and I'm left scratching my head trying to figure out what the hell you're talking about But that's my problem. Cheers.