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Anyone heard or trading with Nadex (North American Derivatives exchange) ?
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Anyone heard or trading with Nadex (North American Derivatives exchange) ?

  #71 (permalink)
Trading Apprentice
New York, NY
 
Futures Experience: Beginner
Platform: Multicharts DT
Favorite Futures: Russell 2000 (TF)
 
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lili View Post
Nadex charges a flat 90 cents fee per contract, capped at $9.

Means, if you buy or sell one contract, you pay $0.90.
If you buy or sell 10 contracts (with one order), you pay $9.
If you buy or sell 100 contracts (in one order), you still pay $9.

So, in a nutshell, your "round-trip" will cost you anywhere between $1.80 and $18 - depending on how many contracts you are moving around.

ES has $12.25 per pip; how much(# of contracts) contracts of US 500 bullspreads are needed to match this $12.25 per pip?

How much will this total of contracts be(collateral)?


Thanks for your answer

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  #72 (permalink)
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Lehrte, Germany
 
Futures Experience: Advanced
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nytrader View Post
I am currently trading futures but I am not profitable because I keep getting stopped out. My situation is similar to some guy that posted in this thread. Iam usually right in predicting the market but get stopped out before I am right.

@nytrader:

So, if you're always experiencing the same situation by getting stopped out all the time, you should think about if your stopps may be a bit too tight for your selected timeframe you're trading.


nytrader View Post
I currently pay $5.52 for round turn.

That's just not a very advantageous fee you're paying...of course this depends on the instrument you trade,
but perhaps you may want to talk to your broker, depending on the amount of trades you take per month...

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  #73 (permalink)
Trading Apprentice
Indianapolis, IN
 
Futures Experience: Intermediate
Platform: North-American Derivatives Exchange
Broker/Data: Forexpros
Favorite Futures: forex binaries
 
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nytrader View Post
ES has $12.25 per pip; how much(# of contracts) contracts of US 500 bullspreads are needed to match this $12.25 per pip?

How much will this total of contracts be(collateral)?


Thanks for your answer

Nadex works differently, I suggest you study their explanations about how stuff works first before trying to compare this kind of trading to anything else you may have done so far.

Basically 1 contract at Nadex can have a price anywhere between $4 and $96.
Your task (if you want to make a profit on that trade) is to buy a contract "cheap" first, and then sell it "expensive" later on - or vice-versa.
If you just buy an option (=contract) now, and then wait until the option expires (without selling it first) you will receive a payout of either $0 or $100.

No pips involved, just all plain dollars.

So, to make up for your $1.80 fee per contract and trade, your goal should be to sell for a price at least $2 higher than what you buy it for, which would give you a $0.20 profit.
Realistically, of course, you will want to aim for more than $2 of a spread per contract.

Also, just for those of you who are used to trading other things, with Nadex there is absolutely no leverage, consequently no margin calls either - and I wouldn't recommend setting up any stop-loss, because prices will most likely swing between the floor and ceiling multiple times during the life-span of any of their options.

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  #74 (permalink)
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Ahh I only started learning about options 2 days ago so it's kind of confusing. It's very different from normal trading from what I can tell. You are not actually buying/selling anything instead you are just betting money like you would in Vegas in a casino?!

Am I right?

I haven't played with the demo yet so it will make more sense when I do...

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  #75 (permalink)
Trading Apprentice
Indianapolis, IN
 
Futures Experience: Intermediate
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well, I wouldn't call it "betting" - in my opinion it's more like "making an educated guess".

If you know how to read candlestick charts (on the underlying instruments, i.e. Forex or Futures) it is fairly easy to predict whether or not a certain strike value will be reached within a few hours.

It is similar to "normal" trading in a way.
You "buy in" on an opinion. People in the market have expectations about the final outcome of each "bet" offered.
Something that seems highly likely will have a higher price than something that nobody believes will happen.

You make money in this market pretty much the same way that you would in any other market:
you buy something "cheap" and sell it "more expensive".


Last edited by lili; January 14th, 2013 at 03:14 PM.
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  #76 (permalink)
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lili View Post
well, I wouldn't call it "betting" - in my opinion it's more like "making an educated guess".

If you know how to read candlestick charts (on the underlying instruments, i.e. Forex or Futures) it is fairly easy to predict whether or not a certain strike value will be reached within a few hours.

It is similar to "normal" trading in a way.
You "buy in" on an opinion. People in the market have expectations about the final outcome of each "bet" offered.
Something that seems highly likely will have a higher price than something that nobody believes will happen.

You make money in this market pretty much the same way that you would in any other market:
you buy something "cheap" and sell it "more expensive".

Yes, I understand it's the same just different "mechanics".

Still getting used to this expirey thing, but very interesting. I used their demo today and got some multiple high P/L ratios without even trying. I bought the binary CL contract >@93.40 exp at 2:30 , and that big move happened at 2.

Today was a losing day though I was trying thigs out.

I am deff liking this it's simple to use, but deff needs some good strategies to make money.


`````

One thing I don't understand is why this position got closed?
Buy------------------ 01/14/13----------------- 14:42:56------------------------ 1 US 500 (Mar) 1430.0-1510.0 (4:15PM) @ 1465.8 -----------------------$-358.00

ES was well above 1430 and I didn't know they can just close like that?


Last edited by nytrader; January 14th, 2013 at 08:21 PM.
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  #77 (permalink)
Trading Apprentice
Indianapolis, IN
 
Futures Experience: Intermediate
Platform: North-American Derivatives Exchange
Broker/Data: Forexpros
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Posts: 38 since Nov 2012
Thanks: 14 given, 21 received

hm? I don't know how to answer that question, but you can always look at Nadex's own statistics for all their options on a particular day, and find the numbers for those settlement prices.

Click on "Tools" (top right corner on your main page), then click the link "Nadex Results Page" in that window that pops up. It will take a little bit of time until the Results page populates - then you can scroll through endless pages of last weeks results, or search for a specific option.

While I was practicing and fine-tuning my strategy on the demo account I had some pretty hefty loosing streaks - until I finally got the hang of it.
I'm really enjoying this game now

Hope this helps.


Last edited by lili; January 15th, 2013 at 08:45 AM.
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  #78 (permalink)
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Atlanta, Ga/USA
 
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nytrader View Post
Yes, I understand it's the same just different "mechanics".

Still getting used to this expirey thing, but very interesting. I used their demo today and got some multiple high P/L ratios without even trying. I bought the binary CL contract >@93.40 exp at 2:30 , and that big move happened at 2.

Today was a losing day though I was trying thigs out.

I am deff liking this it's simple to use, but deff needs some good strategies to make money.


`````

One thing I don't understand is why this position got closed?
Buy------------------ 01/14/13----------------- 14:42:56------------------------ 1 US 500 (Mar) 1430.0-1510.0 (4:15PM) @ 1465.8 -----------------------$-358.00

ES was well above 1430 and I didn't know they can just close like that?

Hello nytrader, It looks like you bought a "bull-spread" at 2:42pm that expires at 4:15pm/14Jan, hence position automatically closes at 4:15/14Jan. But, I can't really answer why the 358 loss. The math on bull spreads baffles me....lol...I found that you need to be able to predict huge moves in the right direction to be successful at "bull spreads". I stick with the binaries, much simpler to figure out. Hit my strike price, "in the money"; miss my strike price, "out of the money"...

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  #79 (permalink)
Trading Apprentice
Indianapolis, IN
 
Futures Experience: Intermediate
Platform: North-American Derivatives Exchange
Broker/Data: Forexpros
Favorite Futures: forex binaries
 
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Posts: 38 since Nov 2012
Thanks: 14 given, 21 received


wiredawg View Post
The math on bull spreads baffles me....lol...I found that you need to be able to predict huge moves in the right direction to be successful at "bull spreads". I stick with the binaries, much simpler to figure out. Hit my strike price, "in the money"; miss my strike price, "out of the money"...

agreed, me too - binaries are really easy to play, bull spreads require an advanced math degree.

I like the fact that you don't have to wait for the final results on any of those options.
Even the binaries at Nadex have the potential for some nice "slow scalping" (as I call it) long before they settle in, or out of, the money.

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  #80 (permalink)
Trading Apprentice
Indianapolis, IN
 
Futures Experience: Intermediate
Platform: North-American Derivatives Exchange
Broker/Data: Forexpros
Favorite Futures: forex binaries
 
lili's Avatar
 
Posts: 38 since Nov 2012
Thanks: 14 given, 21 received



nytrader View Post
Yes, I understand it's the same just different "mechanics".

Still getting used to this expirey thing, but very interesting. I used their demo today and got some multiple high P/L ratios without even trying. I bought the binary CL contract >@93.40 exp at 2:30 , and that big move happened at 2.

Today was a losing day though I was trying thigs out.

I am deff liking this it's simple to use, but deff needs some good strategies to make money.

@nytrader

I'm curious how's your demo account doing?
Did you develop your strategy yet?
Do you still like it?

I've been trading on Nadex for about 4 months now, seriously getting the hang of it.
I believe I have a solid, working strategy - but, of course, 4 months isn't really enough evidence to back that claim.
And I still wonder why aren't there a lot more people doing this? Maybe I'm totally missing a vital point?

Isn't it odd that you can find thousands of posts, threads in forums, trading journals, websites, blogs, ..... talking about daytrading and forex and futures and options - but only a handfull of side-notes on Nadex, mostly published by Nadex and their associates?

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