Palladium

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Tim Arnold
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Palladium

Post by Tim Arnold »

Hi there,
I'm finding that my stop orders in Palladium (Sept) keep getting picked off. Invariably my buy orders get executed at the high of the day, and my sell orders at the low. And looking at the 5 minute bars usually shows a spike up/down to my price and then back. Does anyone else find that this market is suspect?
Thanks,
Tim
billpritjr
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Post by billpritjr »

Stanley Kroll wrote that whenever he got the feeling to trade Palladium, he laid down until the feeling went away

:D

that does not answer your question but it is funny
Forum Mgmnt
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Post by Forum Mgmnt »

Tim,

How many contracts are you talking about?

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Tim Arnold
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Post by Tim Arnold »

That's the thing -- I'm just trading 1 contract -- I can't see why anyone would bother picking off my stops for that -- they must be really bored down there... :)

Of course maybe I'm just feeling persecuted... :wink:

Anyway, I don't care about the fills -- I'm in it for the trend! :lol:

Tim
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Post by Forum Mgmnt »

Tim,

Well, I wouldn't trade Palladium since it is too thin, so it's been a while since I looked at the actual volumes.

If Quote.com is right, the average daily volume for the September contract isonly 21 contracts. Even looking at the volume for all contracts, you only have a few hundred trading per day. Personally, I wouldn't trade a market with less than a few thousand contracts per day, even on a single contract basis.

So your single contract is 5% of the daily volume for the September contract. It's no surprise that you are getting your stop picked off.

The New York markets are famous for this sort of thing.

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Tim Arnold
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Post by Tim Arnold »

Hi Forum Mgmnt,

Can you help me out with understanding volume? According to the CSI UA product I use, Sept Paladium's "volume" is 200-500 contract per day for the day session only. Also on Futuresource.com today's volume looks like 720.

Are they talking about contracts or something else -- and what's the best way to know if they are including the night session in these numbers?

In either case, I agree that this seems thin -- I think I might remove this from my portfolio.

Thanks!

Tim
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