Not had chance to read it yet but an article posted today (by one of the guys that got me into Betfair Trading) on day trading that might be of interest:
http://www.tradinggraphs.com/stocks/sys ... hannel-six
Futures trading
frank,
I would look at LMAX. Although an off-shoot of Betfair their culture is very customer friendly and I was impressed with their customer handling.
I am looking towards FX Trading as a possible next step and avidly reading Technical Analysis of the Financial Markets by John J. Murphy.
I really like the LMAX platform (as a newbie) and they offer API access too.
Beanstalk
I would look at LMAX. Although an off-shoot of Betfair their culture is very customer friendly and I was impressed with their customer handling.
I am looking towards FX Trading as a possible next step and avidly reading Technical Analysis of the Financial Markets by John J. Murphy.
I really like the LMAX platform (as a newbie) and they offer API access too.
Beanstalk
I'd be wary of Technical Analysis. It's easy to be seduced by things like flags, pennants and retracement lines, but I think that they overcomplicate the market. You need to ask why the market would obey particular patterns.
If you're interested in intra-day trading, I'd recommend this book: http://www.amazon.co.uk/Trading-Chaos-T ... 0471463086
Jeff
If you're interested in intra-day trading, I'd recommend this book: http://www.amazon.co.uk/Trading-Chaos-T ... 0471463086
Jeff
beanstalk wrote: I am looking towards FX Trading as a possible next step and avidly reading Technical Analysis of the Financial Markets by John J. Murphy.
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superfrank
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The problem with LMAX is that it's a Betfair company and I don't want to have my profits taxed at up to 60% as soon as I'm successful!beanstalk wrote:frank,
I would look at LMAX. Although an off-shoot of Betfair their culture is very customer friendly and I was impressed with their customer handling.
I am looking towards FX Trading as a possible next step and avidly reading Technical Analysis of the Financial Markets by John J. Murphy.
I really like the LMAX platform (as a newbie) and they offer API access too.
Beanstalk
Bite the bullet and try futures - it's where all the liquidity and action is - the rest are essentially just bookies. Spread betting is an alternative (you can get more leverage and operate in GBP), but the downside is that the transaction costs are higher because they are essentially a middleman between you and the futures market (they hedge any significant risk in the futures markets).
Last edited by superfrank on Wed Jul 27, 2011 8:53 am, edited 1 time in total.
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superfrank
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A decent book on the history of futures exchanges.
Trading books topic... viewtopic.php?f=35&t=3838.
Trading books topic... viewtopic.php?f=35&t=3838.
Remember, though, that spread betting is tax exempt, so for that reason it may be more cost effective. 
Jeff
Jeff
superfrank wrote: Spread betting is an alternative (you can get more leverage and operate in GBP), but the downside is that the transaction costs are higher because they are essentially a middleman between you and the futures market.
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superfrank
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Swings and roundabouts. I think spread betting is very good for longer term trading. For intra-day trading it has to be futures for me because of the lower transaction costs and the tools available.
I use IG Index for spread betting - a decent company in my experience (I've had an account for 10 years).
I use IG Index for spread betting - a decent company in my experience (I've had an account for 10 years).
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superfrank
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Good point. If you're trading with small stakes then futures is no good.
btw, I pay $5.34 per contract/trade for EUR/USD (6E) - the tick value is $12.50.
Mirus Futures commissions (All In 0-500)...
http://www.mirusfutures.com/sites/defau ... t_Info.pdf
btw, I pay $5.34 per contract/trade for EUR/USD (6E) - the tick value is $12.50.
Mirus Futures commissions (All In 0-500)...
http://www.mirusfutures.com/sites/defau ... t_Info.pdf
Hello
After 6 years pre match scalping(football) on Betfair, I went to futures too. And I think it will be my next full day job. I am glad to see there are people who made the same I did. It will be interesting to share expirience about this Betfair-futures move. I am trading 6E with 500 and 167 tick charts and price action.
BTW I still trading on Betfair.
After 6 years pre match scalping(football) on Betfair, I went to futures too. And I think it will be my next full day job. I am glad to see there are people who made the same I did. It will be interesting to share expirience about this Betfair-futures move. I am trading 6E with 500 and 167 tick charts and price action.
BTW I still trading on Betfair.
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superfrank
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Glad to hear it mano.
There is no reason why people who have made it as successful Betfair traders (trading price action) cannot make the move. All that market experience and thousands of screen hours should stand them in good stead.
The beauty of trading financials is that it is scaleable.
What broker and software do you use?
I'm using volume charts and price action mainly trading CL and GC, but I've dabbled with loads (6A, 6B, 6E, FDAX, ES, SI, ZN). Still trading Betfair too but hoping to get more involved soon.
There is no reason why people who have made it as successful Betfair traders (trading price action) cannot make the move. All that market experience and thousands of screen hours should stand them in good stead.
The beauty of trading financials is that it is scaleable.
What broker and software do you use?
I'm using volume charts and price action mainly trading CL and GC, but I've dabbled with loads (6A, 6B, 6E, FDAX, ES, SI, ZN). Still trading Betfair too but hoping to get more involved soon.
Hello superfrank,I am using ninja trader/zen-fire and the broker is AMP, no problems so far.
I am trading 6E only because I study its temper for more than 2 years on demo accaunts and studying is not finish. CL is very interesting instrument and it is next to study, I try it on demo but results were bad. Maybe I tryed automaticly use my 6E knowlege/screen time. I did the same mistake with horse racing a few years ago, with catastrofic influence on my account
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superfrank
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Yeah it's important to know the market you are trading and get a feel for profitable trading timescales.
I like CL because of the high volatility and liquidity. FDAX is very volatile too and great value from a tick value/commission ratio point of view.
I use NinjaTrader/Zen-Fire too but with Mirus Futures (Dorman Trading).
I like CL because of the high volatility and liquidity. FDAX is very volatile too and great value from a tick value/commission ratio point of view.
I use NinjaTrader/Zen-Fire too but with Mirus Futures (Dorman Trading).
With 3500 EUR intraday margin FDAX is not for me. Basicly, indexes have clearer graphs than currencies and it worth to trade them.
When I opened live account, the choice was between Dorman, Mirus and AMP. Mirus and AMP were introducing brokers to Dorman and Rosenthal&Colins, so not big difference. AMP become a clear house last year, but here a strange thing - my live account appear as 2......!Dorman!AMP
When I opened live account, the choice was between Dorman, Mirus and AMP. Mirus and AMP were introducing brokers to Dorman and Rosenthal&Colins, so not big difference. AMP become a clear house last year, but here a strange thing - my live account appear as 2......!Dorman!AMP