Who should I let rob me?

Discussion in 'Metal Futures' started by SideShowBob, Sep 20, 2006.

  1. I'm going to start trading silver, but I can't decide if I should use ECBOT or COMEX. Since right now I'd be using the COMEX pit I know I'd get robbed there (I'll be using stop market orders).

    Can anyone weigh in on the liquidity on ECBOT during the regular session -- is silver liquid enough to not get robbed there as well?

    SSB
     
  2. http://www.cbot.com/cbot/pub/page/0,3181,442,00.html
     
  3. http://www.cbot.com/cbot/pub/page/0,3181,874+2006Z,00.html
     
  4. nakatani

    nakatani

    The liquidity is horrendus on the screen.....I know the pit can suck at times with running stops and all.....but the slippage you will experience on the screen will be frightening.....stick with the pit....
     
  5. Thanks guys, at least now I can feel safe getting my pockets picked :D
     
  6. ive never traded it - but there is slv the etf too....

    the you dont have to worry about rollover, delivery etc...
     
  7. the taxes are higher if you actively trade SLV than silver or mini silver futures but the spreads are often tighter in SLV
    than in futures during the 9:30 - 4 pm EST time zone
     
  8. its funny but sometimes the spreads in silver futures are tighter

    AH ( after hours ) than during reg. hours

    and it is easier not to "chase" the market during those times
    but beware ... if you try to use a "stop" order slippage can on occasion be horrible on ECBOT silver
    and the "market makers " play games all the time
    in AH trading ... on both comex and ecbot metals
    I sometimes complain to the ECBOT people
    that if I want a tighter market I have to force them
    to tighten the spreads myself by making them compete
    with my "tighter spread" on the metals
     
  9. I ended up placing a pit order, stop market at 1145.5 and I was filled at 1147 (1.5 cents from the high of the day!). Not ideal, but a learning experience. I'm using Tradestation's pit trading through RJ O'Brien, so far it's been OK, although I can't really judge the fills since I don't have anything to judge against.

    I may try a stop limit order with ECBOT and see how that goes, although I may instead move to trading 2-3 mini silver futures on ECBOT instead -- I don't like how big the large futures are....too easy to lose your shirt....

    SSB
     
  10. Can you put up an ecbot bid/ask and see how that compares to your pit fill?

    When the market is moving, I'd guess your thread title is spot on: either you do it yourself and hit the bid/ask 50 points away, or have to sit and wait a few minutes for them to tell you you were filled 50 points away. :)
     
    #10     Sep 23, 2006