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Saxobank as a broker


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Saxobank as a broker

  #21 (permalink)
 tr8er 
Europe
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Viking132 View Post
Based in the UK I started trading with Saxo Pro a few months ago, as an introduction to micro futures trading the ESH2.
I am a bit disappointed as mid-way through March, even though I had paid my subscription for the Chicago Mercantile Exchange, Saxo removed the instrument !

Every time I have made an enquiry about the removal, on their chat box etc, I am just being ignored. Really strange.

Is this normal practise for a platform or do they remove micro charts as & when necessary?


Not sure if I understand your comment correct, but Saxo has not removed ESH2, ESH2 expired some weeks ago and is not available anymore. We are trading ESM2 or MESM2.

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  #22 (permalink)
 Viking132 
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tr8er View Post
Not sure if I understand your comment correct, but Saxo has not removed ESH2, ESH2 expired some weeks ago and is not available anymore. We are trading ESM2 or MESM2.

What do you mean by 'expired' ?. LOL. Surely a decent firm would give a reason for expiry & let it's customers know why they couldn't trade the instrument any longer.

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  #23 (permalink)
 tr8er 
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Viking132 View Post
What do you mean by 'expired' ?. LOL. Surely a decent firm would give a reason for expiry & let it's customers know why they couldn't trade the instrument any longer.

LOL, sorry expiry has nothing to do with a decent firm, it comes from the exchange.

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  #24 (permalink)
 
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 bobwest 
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Viking132 View Post
Based in the UK I started trading with Saxo Pro a few months ago, as an introduction to micro futures trading the ESH2.
I am a bit disappointed as mid-way through March, even though I had paid my subscription for the Chicago Mercantile Exchange, Saxo removed the instrument !


tr8er View Post
Not sure if I understand your comment correct, but Saxo has not removed ESH2, ESH2 expired some weeks ago and is not available anymore. We are trading ESM2 or MESM2.

@Viking132, futures contracts expire. This is something that you should be aware of if you are trading them, so it's good this happened, actually. Now you will know.

The "H" contract (as in ESH2) expires in March (the H in the symbol is for March, the "2" in the symbol is for 2022). They didn't just remove the contract, trading in it ended. This is why it disappeared in March, as you said.

The current contract is the "M", as in ESM2, which expires in June of 2022. When it expires, trading in it will end too. (The June 22 contract has its last trade on 17 June 22.) You still have your subscription with the CME, and you can use it with the ESM2 contract.

Traders should always know what their expiration date is, and when they should roll over to the next contract. They must be out before expiration, however, if they are not going to go to settlement (another subject.) Generally, people will roll out to the next one a week before expiration, or will wait until the volume in the next contract exceeds that of the old one, which will be close to the same time, or a day or so later.

This is the trader's job to understand, by the way. This is fundamental to futures trading, so it's good you are encountering it early.

You can check the schedule for current and future contracts here: https://www.cmegroup.com/trading/equity-index/us-index/e-mini-sandp500_product_calendar.html

Bob.

When one door closes, another opens.
-- Cervantes, Don Quixote
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  #25 (permalink)
 Viking132 
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Thanks for putting me straight Bob. Lot to learn obviously. Apologies to Saxo Trading, but I was just frustrated when I had just got all my charts set up etc & boom.
egg

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  #26 (permalink)
 Viking132 
Lancaster / England
 
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tr8er View Post
LOL, sorry expiry has nothing to do with a decent firm, it comes from the exchange.

Thanks tr8er, for helping an old fool out. I had actually read about the the letters/ months associated with Futures Trading but I thought it didn't apply to micro & mini, but just the main contracts that Pro's trade.

I didn't even twig with your response, which suggests I am not bright enough to trade Futures in the first place. LOL. (a stroke 3 years ago doesn't help either)

You live & learn, Cheers ......

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  #27 (permalink)
 tr8er 
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Viking132 View Post
Thanks tr8er, for helping an old fool out. I had actually read about the the letters/ months associated with Futures Trading but I thought it didn't apply to micro & mini, but just the main contracts that Pro's trade.

I didn't even twig with your response, which suggests I am not bright enough to trade Futures in the first place. LOL. (a stroke 3 years ago doesn't help either)

You live & learn, Cheers ......

No problem, the community is here to help and it has nothing to do if you are bright enough or not, everything will come with experience and screen-time. I guess you are coming from the CFD area (because you are using Metatrader), but as already said futures act ab bit different, I'm sure you will learn it soon. Trade well, cheers

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  #28 (permalink)
 
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 mrburns 
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Viking132 View Post
Thanks for putting me straight Bob. Lot to learn obviously. Apologies to Saxo Trading, but I was just frustrated when I had just got all my charts set up etc & boom.

egg


Well, good mature trading platform should let trader know about upcoming expiratiob and allow to do full chart rollover
Sierra Chart for example does so.
I d be surprised, if Saxo's platform do not have same functionality.

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