Financial Trading

Long, short, Bitcoin, forex - Plenty of alternate market disuccsion.
Post Reply
Bet Angel
Bet Angel
Bet Angel
Posts: 3999
Joined: Tue Apr 14, 2009 3:47 pm

Shall we open a financial trading area on the forum? There is obviously a crossover of sorts and I spend a lot of time on financials so it may be fun to interesting to talk about the markets ad hoc in a seperate area?
pt9091
Posts: 200
Joined: Thu Apr 16, 2009 4:07 pm

Yes, great idea something I want to look at closely as well in the coming months, also with the launch of LMAX round the corner the timing would be good.
herbie
Posts: 342
Joined: Mon May 11, 2009 8:56 pm

yes please.. opening a financial forum would be good
User avatar
jimrobo
Posts: 1289
Joined: Wed Mar 25, 2009 12:49 pm

Krzysztof wrote:
Jimrobo, do You mean by t note and e mini: ES and ZN that You focus on?
Correct. thats the one. The T note is a trending market the e mini is a rotational market
npatel999
Posts: 39
Joined: Thu Jul 30, 2009 10:39 pm

I'm not sure whether this is obvious but you can open an account and have access to simulator trading platform without depositing any money so ideal if you're curious to try it out. I stated in the comments box that I wanted to try simulator without depositing and I got link to download software for 7 days. I haven' yet tried it but will try in few days.

Yes it would be good to have a seaparet topic area for financial trading which I know some but not enough to venture in the dark.
User avatar
superfrank
Posts: 2762
Joined: Fri Aug 14, 2009 8:28 pm

Just thought I'd post an update on my experiences so far with futures trading.

I eventually plumped for Mirus Futures with Dorman Trading as the clearing firm. I'm using NinjaTrader with Zen-Fire. The software is pretty cool and the data feed is absolutely excellent.

I've been trading oil and a bit of FDAX. The transaction costs are obviously the main problem, but it's great fun.

I also opened an account with Velocity and Infinity but I didn’t pursue these for various reasons. Mirus looked very professional, and have proved to be so to date, and they publish all their commissions on the website unlike some of the other firms.

One problem I did have is transferring money to my trading account. I used my bank (NatWest) for the transfer and they charged me £27 for the transfer which is fair enough. But what I didn’t realise is that they would completely rip me off with on exchange rate (they gave me 1.533 when the spot price was 1.57), so the transfer really cost me £250 which is a joke. Does anyone know a more cost effective way of making such transfers?
Iron
Posts: 6793
Joined: Fri Dec 11, 2009 10:51 pm

Hi Superfrank

See my message to Zapata here: viewtopic.php?f=2&t=2628&p=16923#p16925

I'd also recommend this guy's systems: http://www.marketsmastered.com/

If you choose instruments with a low spread, and stick to the 15 minute and higher timeframe, the spread shouldn't be too much of a problem. One way to determine whether a spread is high is to get a spreadsheet to divide the instrument's trading price by its spread. The higher the figure, the better the value.

Jeff
superfrank wrote:I'm a fulltime pre-race trader, but enjoy financial trading (which I consider a hobby atm). I'm interested to know how many other Betfair traders trade financial markets, and what markets they trade, and what companies/methods they use...

I've done spread betting for many years (mainly IG index), but the problem is that most markets are untradeable because of the size of the spread - making transaction costs too large to have a realistic chance of making profits. There are exceptions (oil, major forex pairs and major indexes). The other problem is that if you make decent money your a/c will eventually get closed.

I recently started trading oil via ETFs which has been quite successful (the transaction costs are relatively small because the spreads are tight, and the dealing costs don't hurt when trading in larger amounts). The benefits are unlimited liquidity and no problem with accounts getting closed!

I'm interested to know what financial trading others Betfair traders do, and where they find value...

PS. I recently opened an FXPro account because I suspect it may be better value than spread betting, but it's far more complicated - does it work out as better value than with spread betting?

Regards.
Bet Angel
Bet Angel
Bet Angel
Posts: 3999
Joined: Tue Apr 14, 2009 3:47 pm

If you are into commodities, I guess this could impact the price of Oil: -

http://www.bbc.co.uk/news/world-latin-america-11659582
Bet Angel
Bet Angel
Bet Angel
Posts: 3999
Joined: Tue Apr 14, 2009 3:47 pm

London share trading halt 'suspicious'

http://www.bbc.co.uk/news/business-11682002
User avatar
CaerMyrddin
Posts: 1271
Joined: Mon Sep 07, 2009 10:47 am

If you are into commodities, I guess this could impact the price of Oil: -

http://www.bbc.co.uk/news/world-latin-america-11659582
From that new:
Brazil has discovered billions of barrels of oil in the last few years, mostly in deep, pre salt fields off its south-eastern coast.

This is the problem with brazilian oil. It's placed very deep with salt covering it, what makes it very expensive to get it out of there. I think this is like the potencial growth problem. Should a tech improvement lower the costs of extraction, or if oil prices soar, there is good value in it. If not, you are buying potencial growth.
harvard16
Posts: 29
Joined: Sun Jul 26, 2009 9:46 am

18 billion dollars a year in profits for Petrobras, still means it's a very profitable venture, that's the other aspect of Brazilain oil, only one player in town, it's a Petrobras monopoly, which means they can grind down the margins to wafer thin on their service suppliers, which is good for them but not good for the service industries that supply them as capex and opex expenses are very high down there.
User avatar
CaerMyrddin
Posts: 1271
Joined: Mon Sep 07, 2009 10:47 am

I know, an oncle of mine works there.

http://www.boursorama.com/graphiques/gr ... &i3=0&st=6
    That's the graph of Galp Energia, a portuguese company that has parts of some fields in Brazil. When the oil was discovered in Tupi, the titles soared. You can see the huge price gap on 2008 and I can't really tell now, but I think that on the day the discovery was done, they climbed something like 30%? 50%?

    As news that the oil is unreachable or very expensive to explore arrived, the prices plunged. Well, I'm not going to advise you to buy, hold or sell, I was just chating about a technical issue with this oil. Speculation is a different game ;)
    Post Reply

    Return to “Trading Financial markets”