- Joined
- 4 December 2008
- Posts
- 486
- Reactions
- 281
Boo. I missed the open thanks to this. Glad I'm in QLD, it'll already be a struggle to get home by 5:00pm each day.
FTSE opens 1 hour earlier tonight with UK D/L savings.
Next week it opens another hour earlier with AUS D/L savings.
Boo. I missed the open thanks to this. Glad I'm in QLD, it'll already be a struggle to get home by 5:00pm each day.
Hi Newt,
Congrats on the start of your winning streak.What's your style based on? Price action, VSA, reading the DOM...?
If you haven't already, I suggest setting up a paper account with IB and testing everything on that. I've been caught a couple times with technical mistakes that I'm glad I found on demo. Such as the close position button not actually closing out my position immediately like it does with ninjatrader.
There was an obvious tipping and retest setup.
I'm still in. Stop BE at 95
Did you mean shorting down off the resistance around 6588?
Aggressive short @68 near open
Hope you guys don't mind an outsider popping in to ask some silly questions..
Pav I notice that your trades (particularly when you call your entries) do not correlate with my FTSE100 index quote - why is this? Is this something specific to futures, or is it that you are trading a different underlying instrument than the FTSE100?
Also, when charts from IB are posted, what do the yellow bars indicate?
Cheers
Index and the futures contracts, while very correlated seldom trade at the same level...The index isn't actually being traded, just averaged/calculated based on the price of the constituents...the futures are being used for the hedging so lots of big traders moving the market around...
Thats my view anyway, I'm sure SKC or TH could give you a more technical reason...
The index futures price must equal the underlying index value only at expiration. At any other time, the futures contract has a fair value relative to the index, which reflects the expected dividends forgone (a deduction from the index value) and the financing cost for the difference between the initial margin and the principal amount of the contract (an addition) between the trade date and expiration. When interest rates are low, the dividend adjustment outweighs the financing cost, so fair value for index futures is typically lower than the index value.
Its only ever the same at the moment of expiry. Due mostly to Dividends and other stuff...
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