Important Info on the ES for Any New Traders

[dandxg 10]

I haven't read the whole thread, as this is something I experience first hand too a few years back. :crap: It's one of the reasons I have a hard time with the ES. I like the ER2 much better but it's so close to leaving and no one is sure what will happen?

 

I go a step farther when back testing. I chop the top and bottom tick off any bar or candle, no matter whether its the ES or ER2. You always want your back testing to be more conservative since it has it's flaws to begin with. You are then compensating for some of those flawas by making it even more difficult on your fills so you results should be slightly better in that regard.

[brownsfan019 17]

Either that or maybe all the orders aren't actually going to the exchange? It seems that OEC holds back stops and stop limit orders on their servers, instead of natively sending them onto the exchange order book. Is this true?

 

I'm talking about limit orders FS.

 

A stop market order is triggered as a market order when touched. A stop limit is triggered when the limit is hit; however whether or not it fills depends on if your parameters are met. So not sure what you are talking about by saying 'it seems OEC is holding orders back'... W/o more substance than 'it seems' there's not much to say, esp when referring to stop market and stop limit orders.

[MidKnight 12]

It is ALL about getting a good que position.

 

One great feature about Trading Technologies X_Trader is the EPIQ Column - Estimated Place in Que.

 

When trading the ES, Eurostoxx, etc. I will always have orders qued up miles up and down the ladder. You can always pull them if you don't need them. At a minimum have orders placed around common areas that you are likely to trade off if the market gets there - yesterdays close, around prior highs lows, etc etc.

 

Hi smwinc,

 

I hadn't thought of doing that - what a great idea. Thanks!

 

With kind regards,

MK

[atto 20]

When trading the ES, Eurostoxx, etc. I will always have orders qued up miles up and down the ladder. You can always pull them if you don't need them. At a minimum have orders placed around common areas that you are likely to trade off if the market gets there - yesterdays close, around prior highs lows, etc etc.

While that helps when everything's good, what happens when your system goes down or your connection dies? I think it's a big enough deal having to deal with 1 live order when that happens, but a bunch?

[smwinc 20]

While that helps when everything's good, what happens when your system goes down or your connection dies? I think it's a big enough deal having to deal with 1 live order when that happens, but a bunch?

 

Yes, true. Risk to take I guess. The times it has happened, just call the broker to pull all working orders.

 

It's not for everyone, you need to know what you are doing. You can't have heaps of orders resting close to market and then get caught unaware from an earnings announcement and suddenly you're sent max long after the market sweeps down.

 

Each to their own, just something I do. Not for everyone.