Some mundane questions - ho hum

[Aussiest]

Hi there everyone.

Just a really boring question.

How do you log / record you future trades?

Eg, do you use an Excel spread sheet with all the detes, such as: instrument, volume, entry price, inital stop loss, hold time, exit level etc?

Or, is there a software program that does this?

I was thinking about buying an exercise book to record them in and just reading it every day.

Thoughts?

Also, on a different note:

Is there a way you can buy a Futures contract outright, rather than putting down a deposit in a bucket shop? It just occured to me how you can get wiped out doing those things.

Does anybody know about the rollover costs involved in a Futures contact?

*I'll probably have to post the 2nd question in the commodities or deriviatives forum

 

[Trembling Hand]

Is there a way you can buy a Futures contract outright, rather than putting down a deposit in a bucket shop? It just occured to me how you can get wiped out doing those things.

Aussiest do forgive me but if you can't figure out where to record your trades how the hell are you going to work out how to trade Oh ok I will play. I use excel and NT to do it.

If you are trading on min margin you well be wiped out no matter what you use.

 

[Aussiest]

No TH, not planning to get into Futures any time soon. Just doing my research.

I have previously written down my trades on paper, just wondering if any other method.

Thanks for playing, you must be in a good mood :xmaswave

 

[cutz]

Hi Aussiest,

I'm an options trader rather than futures but i record all my trades on excel i.e. underlying, expiry,strike,type,opening trade,date,price,commish,ect.ect.

Of course with all the data on excel it's easy to keep track of KPI's and it keeps the accountant happy.

It's fiddly but it works well.

 

[Mr J]

Eg, do you use an Excel spread sheet with all the detes, such as: instrument, volume, entry price, inital stop loss, hold time, exit level etc?

My excel sheets are my work sheets (calculating average profits, losses, stop heat, success in picking pivots etc), while my broker's reports are used as an official record of profit.

Is there a way you can buy a Futures contract outright, rather than putting down a deposit in a bucket shop? It just occured to me how you can get wiped out doing those things.

If I was caught in a long trade when trading was halted, and the next open was a few hundred points below, I'd take a big hit if I couldn't get out during the plunge (I have no idea what it'd be like). It's an unlikely event, but it's not impossible.

Silly question: would the market be halted during the day session, and if so I assume there would be a set time? Would a trader possibly be able to exit positions, or would he be caught in the position?

 

[MS+Tradesim]

Another vote for Excel.

I have a separate worksheet for each strategy and market, then a totals worksheet for the big picture.

From there, the statistical analysis of your records can be as simple or in-depth as you like.

 

[jono1887]

i use an excel sheet...

could others post images of their sheets... i would like to see how others set them up.

 

[Aussiest]

That's not bad. You might want to put your buys and sells on one line so you can see the entire transaction on that one line.

 

[beamstas]

I don't really do anything
I trade CFDS
So all i remember is deposits and withdrawals
Everything else just falls into place

If my account value is more than my deposits i've made a capital gain

If its not ive made a loss

Easy

 

[jono1887]

That's not bad. You might want to put your buys and sells on one line so you can see the entire transaction on that one line.

hmm....note taken, ill change my spreadsheets...

 

[cutz]

Silly question: would the market be halted during the day session, and if so I assume there would be a set time? Would a trader possibly be able to exit positions, or would he be caught in the position?

Futures are not really my field but i suppose if you're trading a contract that has the potential to be suspended/limit locked you can always set up an equivalent opposite position in the options market if that scenario occurs.

Whether you get reasonable quotes, that’s another matter but I guess it would be better than facing disaster when the underlying starts trading again.

 

[Mr J]

The SPI. Surely there would have to be an announcement at that it wouldn't be immediate? I suppose if trading was to be halted, something would have to already have happened and the market would already be reacting. I'd already be out or enjoying the ride.

Can anyone imagine a scenario where trading is halted without the market already moving? That's my vulnerable scenario, well that and IB going down and not sending out a stop.

 

[Trembling Hand]

The SPI. Surely there would have to be an announcement at that it wouldn't be immediate? I suppose if trading was to be halted, something would have to already have happened and the market would already be reacting. I'd already be out or enjoying the ride.

Can anyone imagine a scenario where trading is halted without the market already moving? That's my vulnerable scenario, well that and IB going down and not sending out a stop.

It happens. you need to have a what if ready. It happened on 16th Aug 07. Was some sort of fault with the SNFE and they announced they where closing all futs for 1 hour or so. You had about 30 min to close positions.

The XJO dropped nearly 150 points while it was closed as everything went haywire without the bots and fundies trading without a way to hedge. Then the side that it was going against were obviously shorting the market to hedge out there SPI longs which added more heat. As soon as the SPI when into pre open it sprung straight back. Fun day

 

[sammy84]

Jono1887 your going to have to work on those brokerage fees. With an account size like yours they will be a huge drag the more you trade.

 

[Aussiest]

I think he's referring to the one at about $83.00 for your 850 MQG shares.

It was my understanding that if you didn't have a CDIA (Commonwealth Direct Investment Account) with CBA, then they would charge you maximum %. You should try to upgrade your account so you don't have to pay those fees.

Normally a trade like that should cost you $26.55.

 

[jono1887]

Jono1887 your going to have to work on those brokerage fees. With an account size like yours they will be a huge drag the more you trade.

I think he's referring to the one at about $83.00 for your 850 MQG shares.

It was my understanding that if you didn't have a CDIA (Commonwealth Direct Investment Account) with CBA, then they would charge you maximum %. You should try to upgrade your account so you don't have to pay those fees.

Normally a trade like that should cost you $26.55.

That was my bad.... i put the money into the the trading account a day late so i got slugged a $54 fee for it . Never again though!! I learnt my lesson...
i only pay $20 for trades up to 10k and $30 for 10k-30k

 

[Mr J]

It happens. you need to have a what if ready. It happened on 16th Aug 07. Was some sort of fault with the SNFE and they announced they where closing all futs for 1 hour or so. You had about 30 min to close positions.

The XJO dropped nearly 150 points

I can only wonder what my fill would've been. Any idea what the offers are like in something like this? My stop would probably have been hit immediately.