You should get a notification in advance. If you're still in that day, and it's a physical product, hopefully your broker will just close you out. That's what mine did once when I was holding natural gas and didn't know what day it was and hadn't bothered to check my email. I think my broker makes you get out a few days before the actual last day.
But just watch the volume. That'll tell you when to go to the next month.
The following user says Thank You to Jameson for this post:
When is the best time to move on to the next month contract? Like one week before expiration? I'd love to know when the volume picks up in the new contract. I have no experience, so I really don't know the answer and google isn't much of a help either.
Thank you everyone! futures.io (formerly BMT) has a very pleasing people (unlike other forums)!
Do you have your broker margin requirements all planned and mapped out? Assuming all goes well, at some points you'll have to periodically increase your number of contracts to your steadily increasing account. The curve will be limited. There won't be hardly any room for margin of error. Anyways, good luck.
no, not in quick launch bar nor in notification area (where the clock is)
Ninja does not work at all. With MutliCharts, I have a green lamp up there but the DOM says connecting to broker. It does work with a demo account from OpenEcry, but not with my live account. I am pretty sure I did everything right.
I took out my old WinXP harddrive and installed Ninja there and it works. Unbelievable how much faster winxp is.
Another beginner Q: how do I see 10 instead of only 5 levels in the DOM? On demo with another broker (Bubl for example) there were 10.
Update: Ninja DOM freaks me out. It moves all the time even though price centering is turned off. I want to click at one price and I get another. TT was much better, I wish I could afford it.
Until now, four trades, all winners, but because of either Ninja or my knowledge of ninja, I am missing 4 ticks from my profits. I'll post a summary tonight.
Update2: Ok, now I know the difference between Dynamic and Static DOM. Who on Earth would use dynamic dom?
Last edited by ReaM; February 20th, 2012 at 04:45 AM.
Made a 150 dollar mistake (traded wrong instrument, because mousewheel apparently can switch instruments. I entered EURUSD instead of Bonds and EU went like 13 ticks against me in an instant)
Switchted to MultiCharts DT, omg I love it.
I am up however, startet with $2695, the balance now $2750. So, let's consider 2750 as my starting balance, and I am off to my journey. Pic is just to show the balance.
I calculated, I need to average 3.1% per day to reach my goal by the end of the year. That's some crazy number. But numbers only look scary. In practice it should work.
Like the myth that loosing 50% you will have to earn 100% back. If, for example, your wins equal your losses 1:1 and risking 2% per trade, you, afer having lost 50% of your account after 35 losses in a row, will only need 36 wins to get it all back. So, numbers do lie.
In practice, it is not as scary.
I notice I can't live without X_Trader, so, when I have a chance to get one, I will. Velocity offers XT for one market only. I read many times about Zenfire being better for scalping than TT, can someone offer me an advice there?
Last edited by ReaM; February 22nd, 2012 at 01:00 AM.