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

  #111 (permalink)
Trading Apprentice
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d

I currently use rithmic,, means I have to switch to CQG? It costs you nothing extra?

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  #112 (permalink)
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This is why stops are important

Well that was an eventful day- traded the brexit but wasnt able to trade the dax so settled for the fxdm (possibly a bad idea). There were a couple of scary looking times: see the charts attached... The first one I wasn't in a trade- the second I was. Luckily had a stop in place and lost a small amount but the price stuck at 9352 for at least a couple of minutes afterwards. Anyone else notice this at their end?

The only thing constant in life is change
Attached Thumbnails
Mini FDAX - FDXM from Eurex-2016-06-25_1856.png   Mini FDAX - FDXM from Eurex-2016-06-25_1855.png  

Last edited by pjimmy; June 25th, 2016 at 04:23 AM. Reason: missing info
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  #113 (permalink)
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What I see (the 2nd chart) there was a trading break in that plunge so if you was (un)lucky to get a short sell fill before the halt you was able to close your short only 0..190 points higher ie. you were forced to take a big loss. If there is no market (ask depth in this case) you will get no help from your stoploss orders or they will be execute but with a huge slippage.

It takes courage to be a Pig
Go With The Flow !

Last edited by Scalpguy; June 25th, 2016 at 01:04 PM.
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  #114 (permalink)
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I sent an inquiry for the exchage was there any circuit breaks in active or was it only the market participants who halted their trading (not the exchange).

I was following DAX futures (full and mini) and saw this happening but I was not trading that market (FDXM/FDAX) because of too wide and choppy bid/ask spread. That 2nd chart plunge did not happen in FDAX only in FDXM which is good to know too.

Here is how I received this http://algoboys.com/data/charts/ts3430.gif

It was about 190 point plunge within about 1 second. Then it halted for 2 minutes and opened about 190 points higher. So the total movement something about 380 points. Burn Baby Burn!

It takes courage to be a Pig
Go With The Flow !
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  #115 (permalink)
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Futures Edge on FIO

Which products do you trade?

 
haha, yes it was quite a drop. Please let me know if you hear back from the exchange, would be good to know about any safety net in place. TBH I kind of think that the proof is in the charts though-which suggests there is nothing in place (or they didn't have if turned on).

-Noticed that my dax charts didn't show either of the spikes too.
I'm less than enthusiastic on the dax mini in general- was only trading it cuz broker wasn't letting me trade full dax.
What I've observed so far watching it vs the dax is its a bit thin still.

The only thing constant in life is change
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  #116 (permalink)
Market Wizard
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Scalpguy View Post
It was about 190 point plunge within about 1 second. Then it halted for 2 minutes and opened about 190 points higher. So the total movement something about 380 points.

If you were in a Dax position over night you could have faced 1100 points...
positive or negative!
Quite a very rare event.

GFIs1

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  #117 (permalink)
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GFIs1 View Post
If you were in a Dax position over night you could have faced 1100 points...
positive or negative!
Quite a very rare event.
GFIs1

Yes this is very much the case. This is not a good market for swing trading (overnight and weekends) because of the big gap risk.

But we also have to remember the lesson from this case the stop loss orders are not 100% sure thing even doing intra trading. As we saw the market can freeze up and the open by a big cap as now happened.

So you have to look your size you are doing. Do not go too big even the margins gives you change to do it.

Or you may be burned badly.

I did not trade it because of bad spread and choppy/thin depth

It takes courage to be a Pig
Go With The Flow !
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  #118 (permalink)
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Could anyone comment on how this trades vs the normal DAX contract? Thanks!

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  #119 (permalink)
The Narrow Road
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The FDAX is quoted in half points and the FDXM is quoted in Full points. Overall it is a little more lumpy from time to time.
  • During times when the market is thick (lots of trades ... high liquidity) it trades very much like the FDAX.
  • During times when the market is thin (before 09:00 am CET , lunchtime in Europe and after 17:30 CET) .. it is lumpy. By this I mean that the liquidity is low so market makers pull their orders before any trades are made. You will see the price move without any trades being made (WHAAAT??). Yes .. this happens as the FDAX carries the big stick and the FDXM price is established at all times by market makers (who are in fact paid by the exchange to do this job). The effect of this lumpiness is that you could have pretty large slippage during these times. 10 points slippage is not impossible.

However ...

The fact that the overall size of the contract is smaller is a big feature. It allows you to get into the "I don't care" position size. "I don't care" .. ..often credited to Al Brooks and quoted live on a futures.io webinar ... is the position size that you need to have at all times to ensure that you trade the market structure that you see on the chart, not the P/L number that you see on the DOM.

I am more successful ... by far ... trading the FDXM than the FDAX for that reason. Slippage and commission costs included.

Summary:
  • If you trade a high enough timeframe and you manage your risk, you can of course trade profitably on the FDXM.
  • If you are learning to trade or refining your plan, the smaller size will keep you alive longer ...

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  #120 (permalink)
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Interesting approach to the mini-DAX. They've done something right with this contract for sure as volume continues to improve. Thanks for sharing your thoughts.


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