ok, ill keep this thread going....
cooler, you cant get real time quotes,,,,, free....... you dont need real time quotes any way....... i am not daytrading and in my opinion, neither should most (not all, i never said all)......... daytrading is highly stressful and keeps you glued to the screen........
here is what i suggest..
the cbot (chicago board of trade) has 10 min delayed quotes, for their markets, for us that means ----- grains (soybeans, wheat, corn)...... and the emini sp market....... 10 min delayed is fine.........
you can get them by going to "commodity traders forum" and clicking on the intr-day quote option, then you can scroll down and find it...
here is a trick that i use............... CNBC runs the commodity quotes, every 10 min, and its a live quote.......
so basically those 2 things are enough to posistion trade........
also on CNBC, they run a live SP 500 quote,,,,, just look during the day and you will see it....... this live quote is for the cash price but that is close to the future price...... for instance today the sp price that was running on cnbc was about 10 ticks below what the futures was trading at.. so by knowing this, you could know where the price of the sp market was at all times......
just simple things like that.....
I have no opinion on natural gas and heating oil,,,,,,,, i never traded those back in the 90's........... although i suppose the fundamentals are not good.... much warmer weather is going to lead to an over supply......
the markets that i traded and am very familiar with are...
Gold
Silver
Copper
soybeans
soybean meal
soybean oil
corn
wheat
Live cattle
feeder cattle
hogs
orange juice
cotton
cocoa
sugar
dow
sp 500
emini sp 500
i can pretty well handle questions about those markets......
im eventually going to add some more markets in...... right now im only charting 3 but ill add a few more as i progress in my studies......
shack, commodities get a very bad rap....... they are not nearly as risky as people make them out..
here is the absolute worse case scenario.....
you short the market and stay in overnight........... tomorrow it opens limit up and no trading can take place...... your stuck baby, in a limit move against you......... nothing to do, except buy an option and you will pay dearly for that........ that is worse case scenario.......... limit up 3 days in a row against you....... wow....... that would be terrible........
there is risk involved in trading both futures and options.....
lots of old memories have came back in the last day or so..........
selling options, great way to make money but for only the very advanced..
at times, ive sold both call and puts in the same market, figure that one out..
lets say hogs are trading at 60.50,,,,,, at times ive sold a 64 call and a 56 put at the same time...... one of them is guaranteed a loser and will expire out of the money......
im not going to say anymore about that right now..........
cooler, you cant get real time quotes,,,,, free....... you dont need real time quotes any way....... i am not daytrading and in my opinion, neither should most (not all, i never said all)......... daytrading is highly stressful and keeps you glued to the screen........
here is what i suggest..
the cbot (chicago board of trade) has 10 min delayed quotes, for their markets, for us that means ----- grains (soybeans, wheat, corn)...... and the emini sp market....... 10 min delayed is fine.........
you can get them by going to "commodity traders forum" and clicking on the intr-day quote option, then you can scroll down and find it...
here is a trick that i use............... CNBC runs the commodity quotes, every 10 min, and its a live quote.......
so basically those 2 things are enough to posistion trade........
also on CNBC, they run a live SP 500 quote,,,,, just look during the day and you will see it....... this live quote is for the cash price but that is close to the future price...... for instance today the sp price that was running on cnbc was about 10 ticks below what the futures was trading at.. so by knowing this, you could know where the price of the sp market was at all times......
just simple things like that.....
I have no opinion on natural gas and heating oil,,,,,,,, i never traded those back in the 90's........... although i suppose the fundamentals are not good.... much warmer weather is going to lead to an over supply......
the markets that i traded and am very familiar with are...
Gold
Silver
Copper
soybeans
soybean meal
soybean oil
corn
wheat
Live cattle
feeder cattle
hogs
orange juice
cotton
cocoa
sugar
dow
sp 500
emini sp 500
i can pretty well handle questions about those markets......
im eventually going to add some more markets in...... right now im only charting 3 but ill add a few more as i progress in my studies......
shack, commodities get a very bad rap....... they are not nearly as risky as people make them out..
here is the absolute worse case scenario.....
you short the market and stay in overnight........... tomorrow it opens limit up and no trading can take place...... your stuck baby, in a limit move against you......... nothing to do, except buy an option and you will pay dearly for that........ that is worse case scenario.......... limit up 3 days in a row against you....... wow....... that would be terrible........
there is risk involved in trading both futures and options.....
lots of old memories have came back in the last day or so..........
selling options, great way to make money but for only the very advanced..
at times, ive sold both call and puts in the same market, figure that one out..
lets say hogs are trading at 60.50,,,,,, at times ive sold a 64 call and a 56 put at the same time...... one of them is guaranteed a loser and will expire out of the money......
im not going to say anymore about that right now..........
capncash, study the fundamentals (yes) this helps greatly to determine the overall trend of the market..
"the trend is your friend", is an old cliche but is the truth.....
however for entry and exit points, you need to be able to read a chart...
look at my sugar trade, i was getting into some of that..
omni, you can open an account --- where i trade for as little as $1000... but with this small amount about all you can do is buy options.... when you buy an option, your max risk --- is simply the cost of the option.........
the sugar trade could have been put on for about $1500........ now i say this amount because the margin is $1190...... we needed that much to stay in overnight and the extra money would be for the amount that it could move against us, before we are stopped out..
i have such a good relationship with my broker (and that comes over working with them a long time), that i could daytrade with only the amount of my stoploss...... but im not into daytrading...
"the trend is your friend", is an old cliche but is the truth.....
however for entry and exit points, you need to be able to read a chart...
look at my sugar trade, i was getting into some of that..
omni, you can open an account --- where i trade for as little as $1000... but with this small amount about all you can do is buy options.... when you buy an option, your max risk --- is simply the cost of the option.........
the sugar trade could have been put on for about $1500........ now i say this amount because the margin is $1190...... we needed that much to stay in overnight and the extra money would be for the amount that it could move against us, before we are stopped out..
i have such a good relationship with my broker (and that comes over working with them a long time), that i could daytrade with only the amount of my stoploss...... but im not into daytrading...
Very cool thread SSI, thanks.
If you are looking for a good forum that talks about futures trading check out:
http://www.elitetrader.com/
Lots of stuff in there covering all types of trading.
If you are looking for a good forum that talks about futures trading check out:
http://www.elitetrader.com/
Lots of stuff in there covering all types of trading.
thanks, ill check it out......... my old forum seems to have died...... man did it rock, in the 90's.......
tonight i am beginning to officially chart the Hog market......
this gives me 4 markets to actively chart and follow along daily.... looking for opportunities to develop..
sugar #11
soybeans
Hogs
Emini SP 500
i just dont think 3 would be enough to follow, trading the way that i want to trade........
Going to call it, "catch the wave" posistion trading.....
because, we will be trying to catch the big move...... we want to be with it and not against it.........
tonight i am beginning to officially chart the Hog market......
this gives me 4 markets to actively chart and follow along daily.... looking for opportunities to develop..
sugar #11
soybeans
Hogs
Emini SP 500
i just dont think 3 would be enough to follow, trading the way that i want to trade........
Going to call it, "catch the wave" posistion trading.....
because, we will be trying to catch the big move...... we want to be with it and not against it.........
SSI,
Just read the whole thread and it is very intriguing. I'm kinda looking for a career change and this sounds right up my alley.
I'll be following your posts and hope you make some nice coin. Will also read Phantom of the Pits and other books on getting into this.
Just read the whole thread and it is very intriguing. I'm kinda looking for a career change and this sounds right up my alley.
I'll be following your posts and hope you make some nice coin. Will also read Phantom of the Pits and other books on getting into this.
Been enjoying your treatise on commodities! Mentioned to you in your handicapping threads that I am a technical guy and love all things numbers based. Keep up the discourse as long as you can, I am sure there are many lukers enjoying it as much as those few who have chosen to post.
Question about your intial stoploss number. Where do you get it? Is it a fixed percantage of point of entry price? Gut? Percentage of Bankroll? I realize that it floats with breakage of high/lows from previouos day but wonder how you come up with your intial number.
Question about your intial stoploss number. Where do you get it? Is it a fixed percantage of point of entry price? Gut? Percentage of Bankroll? I realize that it floats with breakage of high/lows from previouos day but wonder how you come up with your intial number.
desrat, initially ill read a chart to notice supp and resitance,,,,,, old highs and lows are good points also...... these are the places that the market has turned in previous days......
dio, yes the emini sp........ 1pt =$50..................... this is a small version of the big SP, which trades for $250 per pt.........
dio, yes the emini sp........ 1pt =$50..................... this is a small version of the big SP, which trades for $250 per pt.........
