Futures Magazine October 01, 2007
Trading Techniques
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Using trend dynamics for day-trading profits
As a day-trader, there is a degree of satisfaction in picking off tight trades, scalping a few ticks. There is also satisfaction in averaging in (profitably) as a market makes a sharp turn; you enter
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Price action fundamentals in the S P
The term price action is vague and means different things to different people. The broadest definition refers to any representation on a chart of any aspect of price movement during the course of
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Trading while the pit bulls sleep
An American in Paris sits at an ornate wooden desk in front of a hotel window overlooking the Place de la Concorde. He glances down at the pedestrians strolling along the Champs-Élysées, then
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Profiting with commodity ETFs
If you’re interested in energy market exposure without paying full price for energy stocks or having the unlimited risk that’s associated with buying or selling energy futures, then consider a
Technology & Trading
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Optimization: Teaching an old dog new tricks
Trading system optimization has been a hot topic of discussion since the first commercial trading system programs appeared in the 1980s. Optimization has always been a double-edged sword because
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Optimization with generic algorithms
Optimization can be a valuable tool, but running an optimization over a broad range of parameters can also be time consuming. When optimizing a trading system with three parameters, it is possible to
Breaking News
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Sentinel Management Group fails
In an industry that is often regarded as high risk, involving complex investment strategies and flamboyant traders, the custodial cash management business is usually viewed as the mousy librarian at
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Mid East money looks to Europe
One of the most popular panel discussions at this year’s Burgenstock Meeting in Montreux, Switzerland, focused on how to service the Middle Eastern customer — something a slew of new wannabe exchange
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Refco trustee brings suits
Though more than two years old, the Refco bankruptcy still has players fighting over blame and cash. In a lawsuit seeking more than $2 billion in damages and penalties from Refco auditor Grant
Forex Trader
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Big picture price patterns and fundamentals are an edge
The monthly chart of the key GBP/JPY pair showed an ominous parabolic pattern, which was an early sign of unsustainable buying. We know now that the subprime market worries were the catalyst for a
Markets
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Energy markets getting grizzly?
In many ways, the 2007 energy market looks very much like it did last year. Tensions are high in the Middle East; and in the United States, where less than 5% of the world’s population continues to
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Is oil due for a major correction?
Crude oil soared in the first half of 2007 due largely to problems in the U.S. refining sector. By mid-July refineries were back at normal levels and the technicals began to break down. This, along
Futures 101
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Tools and software for the advanced trader
In the first part of this two-part series we covered the basic offerings by trading softwares and platforms for retail traders. Of course, not everyone is a beginner and there are plenty of services
Industry Trends
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Retail trading and contracts overseas
More than 1,000 private derivatives traders recently forked over a few thousand euros each to attend a two-day “Trading Expo” in Aschafffenberg, Germany — one of three trading-related conferences
Editor's Note
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Sentinel Management Group failure unfolds
With all the current volatility, huge losses and uncertainty in the markets, a friend recommended reading “A Short History of Financial Eurphoria” by John Kenneth Galbraith. So I picked it up and
Book Reviews
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Trading STIR Futures: An Introduction to Short-Term Interest Rate Futures by Stephen Aikin
Although the book is introductory in nature, several areas are helpful for experienced traders as well. These include methods and techniques of spread trading, uses of zero-yield curves, and
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Way of the Turtle by Curtis M. Faith
No other trading legend inspires awe and wonder as the Turtles. Two industry giants, Richard Dennis and William Eckhardt, bet on whether successful trading was a matter of nature or nurture. They
Market Analysis
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Natural gas prices plunge during mild hurricane season
As we head into October, hurricane season has been a nonevent from a supply standpoint and natural gas inventories are 10% higher than the five-year average. As a result, prices have collapsed since
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10-year Treasury notes rally on uncertainty in stock market
With the uncertainty in the stock market and with mortgage based securities in shambles, 10-year Treasury notes have been a logical destination for those on a flight to safety, and since June, the
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Tight wheat supplies are driving prices to all-time highs
Wheat supplies are tight and getting tighter, driving prices to all-time highs, and yet non-U.S. buying continues. “Countries that passed at $6 and $7 dollars are now buying at $8. It has gone
Managed Money
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Finding start-up managers
According to MGS, the Founders Program will combine a traditional seeding platform with a multi-strategy investment platform to offer portfolio managers capital and infrastructure support so they can
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Hot new CTAs: Index programs excel
Equity index programs that seemed on the wane in recent years made a comeback as the long bull moves helped earn profits and the short-term nature of most of these programs prevented large give-backs
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Last year’s HNC scorecard
Although every year we profile emerging CTAs, we preface the story with the qualification that the feature is “not an endorsement but a review of new talent,” we certainly like it when our Hot new
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The science of cash management
It is a rare historical event when a credit-crunch induced financial market setback seeps its way into the conservative backwater of cash management. Yet that is exactly what has occurred during the
Options Strategy
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Stock Replacement Strategy
Most stock investors firmly believe that options are high-risk investments, only suitable for unrefined traders. But holding expensive stocks through turbulent markets can prove to be an even less
New For Traders
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New for Traders
Also, CME Group now offers electronic trading for weekly FX options on futures, including the euro, Japanese yen, British pound, Swiss franc, Canadian dollar and Australian dollar, all trading
People
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Scott Gordon has been promoted to chairman of Rosenthal Collins Group
Thomas J. Hammond was appointed president and chief operating officer of ICE Clear U.S. Inc. Previously he was director at the Chicago Board of Trade and executive vice president and chief operating
News
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CFETS to clear CME?
One of the most popular panel discussions at this year’s Burgenstock Meeting in Montreux, Switzerland, focused on how to service the Middle Eastern customer – something a slew of new wannabe exchange
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CME buys CBOE ERPs
The remaining 668 CBOT members holding ERPs retain the right to a guaranteed $250,000 minimum payment from the CME Group should they lose a court battle to convert those ERPs into equity shares on
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More options in FX
CME Group, which is a regulated marketplace for foreign exchange trading, announced plans to offer electronic trading for weekly forex options on futures with American-style expiration. As of Sept.
Trader Profiles
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Ira Kawaller: Long Option Convergence Trading Program
When Ira Kawaller worked for the Chicago Mercantile Exchange as director of the New York office, he was precluded from trading, but as he marketed the relatively new options on futures products, an
