This looks like a great set-up that should be triggered soon. I don't see anything wrong with it at all.
However, "SI" is not a symbol that my broker (Interactive Brokers) uses. It is either ZI or YI. I presume that SI is the large silver contract, not the mini.
Any comments?
Jeff
You are correct. It is the large contract. I will check this out.
What is "5150 Time"???
Jeff
Lots of long term RF. The symbol we use is the front month, but I think that most metal traders go out 1 more month. I would check to make sure the price matches up with the Profile.
We were thinking about breaking the metal out into the different months, but did not get any customer feedback.
Jeff Wrote:What is "5150 Time"???
Jeff
That is funny.... It is my old signature from another board. I am a Van Halen fan and "Fair Warning" is there 3rd album. 5150 is a Los Angeles police for a crazy person. It is also a song and another album name.
Jeff Wrote:This looks like a great set-up that should be triggered soon. I don't see anything wrong with it at all.
However, "SI" is not a symbol that my broker (Interactive Brokers) uses. It is either ZI or YI. I presume that SI is the large silver contract, not the mini.
Any comments?
Jeff
You can try trading the e-mini silver but there's just no volume.Furthermore,I found the system no too accurate with physical contracts (and Bonds as a matter of fact).
On the Interactive Brokers screen, the Jan 06 ZI contract bid price is 8.606. The ask price is 8.641. I have place a LIT (limit if touched) order to buy at 8.680 when 8.700 is touched.
OK. I'm glad to learn that "5150 Time" does not refer to taxes, or options expirations or future rollovers, etc.
Jeff
Steve Wrote:Lots of long term RF. The symbol we use is the front month, but I think that most metal traders go out 1 more month. I would check to make sure the price matches up with the Profile.
We were thinking about breaking the metal out into the different months, but did not get any customer feedback.
It would Be a very interesting option to be implemented
My buy order has been triggered. I am now long two silver contracts. And, I still have a buy order on a third one. So, I guess this is a thinly traded contract.
Jeff
Jeff Wrote:My buy order has been triggered. I am now long two silver contracts. And, I still have a buy order on a third one. So, I guess this is a thinly traded contract.
Jeff
Well , You are going to find hard to get rid of it .
The right one is H6
Hope it helps
I had Tom look at this real quick and he seemed to like it.
Are you still in this trade? Seems to be moving finally!
I am still in this trade. My broker, Interactive Brokers, offers the CBOT ZI contract -- rather than SI. I bought 3 of them (Jan 06). I think I might have been stopped out last week. But, I discovered that the contract is not very liquid, and I decided to wait and hold on. Now, I'm back to about break-even -- and it seems to be going higher.
Jeff
Yikes. I guess I have a few things to learn about trading silver with Interactive Brokers. My position was liquidated this morning (at near break-even). IB has a policy regarding physical possession of the commodity. So, they closed my Jan 06 contract out, prior to the first official day of the contract to avoid any possibility of physical possession.
I can see, in retrospect, that I should have traded the March contract on ZI. But, better would have been to trade SI and not this CBOT substitute.
And, all trades with IB, have to take into account this matter of possible physical possession of commodities. They do have an obscure, printed policy regarding the automatic closing out of positions ahead of time to avoid this.
Jeff