The transition to Futures trading

[CanOz]

I just worry that without the initial 2 hrs typical volatility pushing, any move is more likely to get caught in chop. No use jumping to conclusions. Just have to observe, learn, then figure out a new plan.

What's NFP Canoz?

I reckon if you only traded the first two or three hours you'd be far better off for it...There is a little after lunch move sometimes but then the market changes once the US opens anyway...

NFP = Non Farm Payrolls - the single biggest news event on the US economic calendar...fun fun fun...i'll miss it tomorrow night too...

 

[pavilion103]

First 1-2 hour setups is where I make most of my money. Especially in trending conditions.

 

[pavilion103]

Anyone have any thoughts on NFP?

I'm not hot on fundamentals but interested to see if anyone has any opinions.

 

[skc]

Anyone have any thoughts on NFP?

I'm not hot on fundamentals but interested to see if anyone has any opinions.

Bloomberg compiles consensus estiamte for most major data releases.

http://www.bloomberg.com/markets/economic-calendar/

If the print is substantially different to consensus the market will move.

However, without superfast computers and low latency feeds, trading NFP over the short term is not advisable.

 

[Trembling Hand]

Anyone have any thoughts on NFP?

I'm not hot on fundamentals but interested to see if anyone has any opinions.

Its got nothing to do with fundamentals as a trader. Its got everything to do with expectations.

 

[pavilion103]

Its got nothing to do with fundamentals as a trader. Its got everything to do with expectations.

Yeh I get that. What are the expectations this time prior to the announcent?

 

[Trembling Hand]

Yeh I get that. What are the expectations this time prior to the announcent?

Well I can tell you but then thats just my opinion of what I think the markets opinion is!

But I think the "market" is expecting a good number and have it well and truly priced in.

 

[CanOz]

Well I can tell you but then thats just my opinion of what I think the markets opinion is!

But I think the "market" is expecting a good number and have it well and truly priced in.

Is a 'good' number meaning a number that supports growth in employment and does not support a slowing of the taper?

 

[pavilion103]

Got the notice from IB.

The new data costs which include the FTSE futures is $90 US per month.
Currently 2 EURO!!!

Starts from Monday. Annoying! I guess I will just have to keep making more money

 

[Lone Wolf]

Got the notice from IB.

The new data costs which include the FTSE futures is $90 US per month.
Currently 2 EURO!!!

Starts from Monday. Annoying! I guess I will just have to keep making more money

Yeah I saw that too. Pretty steep increase for those who only want level 1 data. Not so bad if you were already paying for level II.

As a matter of principle, if I'm going to pay over $1000 a year for FTSE data I'd like to have the real tick data rather than IB's condensed version. Oh well, I have an AMP futures account now, I haven't heard anything from them about an additional cost yet so I guess I'll just go with AMP for now.

 

[CanOz]

Got the notice from IB.

The new data costs which include the FTSE futures is $90 US per month.
Currently 2 EURO!!!

Starts from Monday. Annoying! I guess I will just have to keep making more money

OR you could look for a cheaper broker with, as LW says, BETTER data...

AMP Clearing.

 

[kid hustlr]

CanOz what would be the costs to trade the FTSE with AMP?

I always figured IB was the cheapest at everything...

 

[CanOz]

CanOz what would be the costs to trade the FTSE with AMP?

I always figured IB was the cheapest at everything...

Let me dig out my statement when i get some time and tell you, the data costs are rolled in as well...its about 3 USD per RT from memory...

 

[CanOz]

The total, including data is 4.08 USD per round turn....

 

[payday]

IB is no longer the cheapest at everything. I have been with IB for about 6 years now and they were initially cheaper but since then others have taken up that mantle. AMP is one as well as Mirus futures. I am seriously tempted to change over to Mirus as they seem to have a pretty good track record. Both AMP and Mirus offer lower intraday and overnight margins compared with IB as well. Also they both offer CQG data feeds which with Ninja trader you can get the static DOM which is a HUGE bonus compared to IB's dynamic DOM if you are trading intraday. Just some things to keep in mind.

 

[Newt]

I must confess I had started an IB account after realising I'd have to pay $50/month to rent/lease the full version of NT - which is pretty essential if you want to place automatic stops and profit targets. With IB jacking up their data costs so much I may well go back to AMP for Futues, but keep the IB a/c open for stocks - which seemed a good enough reason to try out TWS etc in the first place - and its "free".

The market replay features in NT really are fantastic for a newbie learning the ropes. Err - learning how to fall into bear-pits

 

[Lone Wolf]

Not a bad play by IB. If they gave people decent notice then most would probably put a lot of thought into it and end up finding cheaper/better options. By waiting until Friday to tell us that fees go up on Monday, people who have no alternative in place will probably sign up for the first month without thinking too much. They'll tell themselves that they intend to look for an alternative later, but once people have signed up to one option they tend to lose their motivation to seek another.

That's today's conspiracy theory anyway. :

 

[pavilion103]

Will certainly sign up for first month while exploring options.

Annoying.

 

[kid hustlr]

Let me dig out my statement when i get some time and tell you, the data costs are rolled in as well...its about 3 USD per RT from memory...

The total, including data is 4.08 USD per round turn....

that's still quite expensive if you ask me. i guess you just need to weight up the options.

Can't recall off the top of my head what IB charges per round turn ( i dont trade with them) but I feel like if you were decently active IB is probably still the cheaper option.

Just comes down to whether you can handle the way they handle the data I guess.

As I said each situation is different. Shame the charges have increased though but like everything in this game if you size up 90 bucks a month is just irrelevant.

 

[Lone Wolf]

that's still quite expensive if you ask me. i guess you just need to weight up the options.

Can't recall off the top of my head what IB charges per round turn ( i dont trade with them) but I feel like if you were decently active IB is probably still the cheaper option.

Just comes down to whether you can handle the way they handle the data I guess.

As I said each situation is different. Shame the charges have increased though but like everything in this game if you size up 90 bucks a month is just irrelevant.

It's hard to compare the two since the AMP commission rate includes data and Canoz may have different data fees to others. But ignoring that...

IB's flat rate is 5.64 USD per round turn (1.7GBP per trade), not including data. So that's 1.56 USD more than AMP.

Do two round trips a night and at the end of the month you'll have paid an extra 60 USD. Add the data cost of 90 USD and you end up paying an extra 150 USD per month to trade with IB.

The question is then, are you getting value for money with IB? I like IB, the client interface is far, far above AMP from what I've seen. Talking in general, IB wins hands down IMO. But for the FTSE alone, you could trade with AMP, get better data and in one year the savings will have paid off the purchase of a multibroker NinjaTrader license.

But I agree with your last statement, make so much money that all costs become irrelevant.