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Mini FDAX - FDXM from Eurex
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Mini FDAX - FDXM from Eurex

  #71 (permalink)
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podski View Post
Are you using chart trader ?

Do you have multiple instruments loaded on the same chart or are you exiting in one chart and entering in the other ?

Might be some mixup there ..

p

Nah, i only use the Dom to execute.

Edit: NT has just come back and said they were able to reproduce the problem on thier end and they've sent it to development....


Last edited by xiaosi; November 5th, 2015 at 07:47 AM.
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  #72 (permalink)
The Narrow Road
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Impressions

Having looked at the FDXM for a couple of days I'm still optimistic that this will be good for me. I hope it becomes a commercial success.

Commission etc:
Clearly there is a downside here, it is a bit cheaper per contract than the FDAX but still much more expensive in pure size terms. People need to take this into account. For me it is not a deal breaker.

Liquidity :
It is clearly not nearly as liquid as it needs to be. Thursday was a busy day and spread was mostly 1 or 2 points. However on Friday it was very quiet in the morning. 50% of normal volume on the FDAX. The FDXM itself often did not trade more than a single contract for minutes. The price ladder moved in sync with the FDAX with no trades being made. Clearly market makers have some clever bots.

The lack of liquidity will mean that there will sometimes be biiiiig slippage.

Risk management :
Now that I have a good view of the market and developed a sort of language for myself that allows me to follow what is happening in a consistent way all that is left is mastery in terms of self control and risk management. The smaller size of the contract is a big help in this respect.

Basically, it will enable me to keep the losses small and keep scaling in when the trend is working for me. More people like me will be able to press the winners harder.

I'm optimistic.

P

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  #73 (permalink)
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podski View Post
It is clearly not nearly as liquid as it needs to be. Thursday was a busy day and spread was mostly 1 or 2 points. However on Friday it was very quiet in the morning. 50% of normal volume on the FDAX. The FDXM itself often did not trade more than a single contract for minutes. The price ladder moved in sync with the FDAX with no trades being made. Clearly market makers have some clever bots.

Years ago I traded M6E. Regardless of what was shown on the depth, I would almost always get fills where I wanted them of the size I wanted. Just because the size isn't advertised doesn't mean an algo won't snatch it up when it sees it come in.

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  #74 (permalink)
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FDXM and Volume

Is anybody keeping track of the FDXM volume ?

Perhaps it makes sense to keep it logged as a % of the FDAX volume or something ?

I have to say guys - it trades pretty well. It is clearly kept in lock step by the FDAX - always within a point or two of it. To be expected as the FDAX carries the big stick.

Position size, being able to move up a timeframe, to scale in when appropriate AND have the benefit of a market traded instrument. Revolutionary for me so far.

Is anyone else trading it or am I taking money off the bad guys ?

p

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  #75 (permalink)
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podski View Post
Is anybody keeping track of the FDXM volume ?

Perhaps it makes sense to keep it logged as a % of the FDAX volume or something ?

I have to say guys - it trades pretty well. It is clearly kept in lock step by the FDAX - always within a point or two of it. To be expected as the FDAX carries the big stick.

Position size, being able to move up a timeframe, to scale in when appropriate AND have the benefit of a market traded instrument. Revolutionary for me so far.

Is anyone else trading it or am I taking money off the bad guys ?

p

I guess given your's and @Big Mike comments it is possible to trade by looking at FDAX chart and making chart art there and just executing off FDXM DOM, pretty muck like stock day traders do - work with TOS charts, execute of awful looking but lightning fast 3rd party platforms..

Trade to live. Not live to trade.
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  #76 (permalink)
The Narrow Road
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Favorite Futures: FDAX, FDXM ...maybe
 
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xelaar View Post
I guess given your's and @Big Mike comments it is possible to trade by looking at FDAX chart and making chart art there and just executing off FDXM DOM, pretty muck like stock day traders do - work with TOS charts, execute of awful looking but lightning fast 3rd party platforms..

Yes indeed.

I look at the FDAX chart in the higher time frames - but execute on the FDXM chart .. The reason for that is that average relative FDAX volume is one of my most important indicators.

I trade the trends/swings so I don't give a hoot about a few ticks here and there .. esp on the FDXM ..

p

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  #77 (permalink)
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podski View Post
Is anybody keeping track of the FDXM volume ?

Perhaps it makes sense to keep it logged as a % of the FDAX volume or something ?

I have to say guys - it trades pretty well. It is clearly kept in lock step by the FDAX - always within a point or two of it. To be expected as the FDAX carries the big stick.

Position size, being able to move up a timeframe, to scale in when appropriate AND have the benefit of a market traded instrument. Revolutionary for me so far.

Is anyone else trading it or am I taking money off the bad guys ?

p

FDXM is ~2.5 - 3% of the total notional contract value (FDAX + FDXM added) at the moment.

That's pretty good for its lifespan, but the lack of ticks (imho) still causes too wide deviations from the normal spread.
(And with spread I don't only mean the shown bid/ask, but the real deviation including the ticks when FDXM can't hold
the pace of big mom.)

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  #78 (permalink)
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Here is some of the latest on the FDXM in NT from thier forum

Basically there is a bug and the team are working on it, however i have been told by their support that the solution will only be implemented in NT8, not 7. This is disappointing as i still use NT7, at least until Rancho and Jigsaw are fully compatible with NT8 anyway....or i get my butt moved and start using TT!

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  #79 (permalink)
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@podski & others : are any of you actually trading FDXM live and anyone through Ninja's own brokerage (formerly Mirus) ?

I like the idea of a mini as it makes 3 lot scaling much more manageable size-wise, as long as it's not like CL vs QM (where it is much better to trade CL).

The biggest problem with FDAX is that up until 3 or 4 years ago the spread was pretty stable at 1 - 2 ticks, but these days it often blips momentarily open to 3, 4 or even 5 ticks, I suppose as a result of much lower volume.

I looked at the Ger 30 CFD, but it charts differently, has a tiny unit value & is back in unregulated territory.

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  #80 (permalink)
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jtrade View Post
@podski & others : are any of you actually trading FDXM live and anyone through Ninja's own brokerage (formerly Mirus) ?

I like the idea of a mini as it makes 3 lot scaling much more manageable size-wise, as long as it's not like CL vs QM (where it is much better to trade CL).

The biggest problem with FDAX is that up until 3 or 4 years ago the spread was pretty stable at 1 - 2 ticks, but these days it often blips momentarily open to 3, 4 or even 5 ticks, I suppose as a result of much lower volume.

I looked at the Ger 30 CFD, but it charts differently, has a tiny unit value & is back in unregulated territory.

Volumes are pretty good in DAX, similar to CL or GC but liquidity is dry, you mainly trade with a market maker.

GER30 obviously depends on the provider, LMAX uses Morgan Stenly AFAIK, it's quite good. The only difference from FDAX is to account for a backwardation (nil for a new futures contract and up to 10 points close to expiration) since GER30 is based on cash index, not futures. However figure levels on cash are more significant than futures levels in my experience but it worth to watch both.

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