As Shred says, the expiration is the 3rd Friday but it actually trades the new contract (Dec04 in your case) starting the previous Thursday (a week before expiration).
Just wondering FT71, are you prop futures guys shooting against this system at all now that it's so well known?
Not at all. I wouldn't do that. This isn't our style at all to take a position with or against the market. We just scalp. Very low risk; very high return. I am watching this system, however, and have finally gotten a copy of Wealth Lab to test it. If it works, I would have it execute automatically with a more robust risk management system. I would probably execute 5-lots in it. On the other hand, I have only recently started trading it as a scalper myself and am still trying to figure out the flow in it. It may become our afternoon product after the FDAX closes at 1 PM central. I like this product so far. It has the same zip as the DAX does in some ways. I won't get anybody on it until I figure out the flow for myself. Good luck
No offense intended. Just that if you don't know what the switchover day is, you've got a lot to learn before even trading a simple system. Drawdowns and slippage are a good place to start. Sorry if I hurt anyone's feelings or used the term in error.
I wasn't referring to the term switchover, I was refering to the term "noob". Also, I agree with you that anyone who doesn't know abt rollovers/switchovers in futures need to stay the hell away from the market.
Come on guys. It is just another thing they need to learn and now they know. I know we are all learning new stuff every day.
Of course it's a simple thing to learn, but it's also an indicator of where he is on the learning curve. IMO it's a bit early to plunge into a system you find on a chat site, regardless of how simple it is. Not saying not to trade it, just be careful. It's not an "ATM machine" system from what I can tell. There will be drawdowns.
Does anyone have the best method of inputing these orders into IB's TWS to be as automated as possible? Using a simple combination of stop, basket, MOC, or OCA orders? I trade at the bid/ask 99.999999% of the time. Perhaps someone with experience using these types of orders?
hallo AR, i got just into your forum and i found it very interesting. Thank you for that. I´ve one more question: When ER2 did already reach the entry points and went back into the narrow range before 1:00, are the entry points still the points to enter after 1:00 till 2:45 ? or: marketorder in the direction of the first touch of range... I think, again the points to enter, right? Is it too stressfull for you, to show the daily results after the day to follow you? not only month... For how long do you trade this simple system? and still? regards Manfred