Traders Laboratory - View Single Post - Which contract should a beginner trade?
View Single Post
  #20 (permalink)  
Old 07-03-2007, 10:57 AM
cooter's Avatar
cooter cooter is offline
cooter has no status.
Banned

 
Join Date: Mar 2007
Posts: 633
Thanks: 0
Thanked 7 Times in 2 Posts
Re: Which contract should a beginner trade?

Quote:
View Post

I'd suggest testing your ideas out on a simulator, but you need to find one that is realistic to how the ES actually trades. There's too many that assume you get filled if your exit price is just touched. Not so in real-time.
Unfortunately, the OpenECry OEC Trader simulator is one of those that is so "loose" that it triggers limit orders as if they were "market if touched" orders.

Pretty poor and shoddy implementation, IMHO. It suckers newbies into thinking that real world trading would match this performance - which, of course , it won't.

I did like the Transact AT simulator (same as Infffinnity) since they actually recognized this limitation and made certain that it either trades thru the level on the sim or sits in the queue for a period of time.

Your real-world expectations and experience may vary either way.

Reply With Quote