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Important notice: For those of you trading any stock index futures contracts, i.e., the E-mini S&P, E-mini NASDAQ, E-mini Dow Jones, the “Big” pit-traded S&P 500, etc., it is extremely important to remember that tomorrow, Thursday, March13th, is rollover day.
Starting March13th, the June 2014 futures contracts will be the front month contracts. It is recommended that all new positions be placed in the June 2014 contract as of March 13th. Volume in the March 2014 contracts will begin to drop off until its expiration on Friday March 21st.
The month code for June is M4.
Traders with electronic trading software should make sure that defaults reflect the proper contract as of Thursday morning.
Please close any open March Currency positions by the close on Friday the 14th.
Should you have any further question please contact your broker.
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.
PM with any questions about Cannon Trading (800) 454-9572 (310) 859-9572. Trading commodity futures, forex and options involves substantial risk of loss. The recommendations contained in this post are of opinion only and do not guarantee any profits. These are risky markets and only risk capital should be used. Past performance is not necessarily indicative of future results.
No we do not offer stocks like microsoft, google etc. but you can trade the index as a whole using mini SP 500, mini Dow, mini NASDAQ etc.
PM with any questions about Cannon Trading (800) 454-9572 (310) 859-9572. Trading commodity futures, forex and options involves substantial risk of loss. The recommendations contained in this post are of opinion only and do not guarantee any profits. These are risky markets and only risk capital should be used. Past performance is not necessarily indicative of future results.
I cannot express how well the customer service is at Cannon. I had a DOM issue with an order just now, position was entered but not showing up on the DOM, Chart, or Position window in OEC. I called Cannon and with one ring I had my broker on the phone and was able to close the position. Heck even closed it with a profit.
Every time I have called Cannon they answer within 2-3 rings, in a serious situation like the above being able to reach your broker in time is an important matter.
Can you explain a bit more what you mean by synthetic accounts?
We do offer historical data and it is free with MOST of our data feeds/ platforms for the contracts you mentioned but depending on specific platform you like to use and if you had an active account before March 1st 2014 I can give you specifics.
PM with any questions about Cannon Trading (800) 454-9572 (310) 859-9572. Trading commodity futures, forex and options involves substantial risk of loss. The recommendations contained in this post are of opinion only and do not guarantee any profits. These are risky markets and only risk capital should be used. Past performance is not necessarily indicative of future results.
I would like to trade in two accounts separately & simultaneously.
But this should be possible with 1 basic account and two subaccounts=synthethic accounts.
I see that there is a limit of 5000$ below that there are larger fees, right?
Yes we do offer sub accounts based on one main account and you can trade both of them from the same software.
Our min account size is $2600 but in order to have sub accounts we need at least $10,000 in the main account in order to enable trading on the subs.
PM with any questions about Cannon Trading (800) 454-9572 (310) 859-9572. Trading commodity futures, forex and options involves substantial risk of loss. The recommendations contained in this post are of opinion only and do not guarantee any profits. These are risky markets and only risk capital should be used. Past performance is not necessarily indicative of future results.
...but does anyone know if they (their FCMs) are option-seller friendly? I spent a lot of time researching Advantage Futures and had a few conversations with a broker and then at the last minute he informed me that they're not really set up for option sellers, commissions would be far higher than stated on the website and margins would be something above SPAN minimums but he never got very specific. Same story with Crossland/Deep Discount Trading, although to his credit, Howard at DDT told me about Crossland's rules right away and it was clear they were not a good fit.
I know the average option selling account is not a big money maker for IBs and FCMs - the transaction count is going to be far lower than a futures day trader and it's a certainty there will be higher overnight capital requirements (on the part of the FCM) for weeks or months on end.
So, any surprises from Cannon? Are the commissions for option sellers close to what they show online? Do one or more of their FCM partners offer close to SPAN minimum margins?
I've just opened a new trading account with them and I'm not sure of the answer but I'm sure @Ilanlm can answer your question. If he does not see this post, then PM him or call him. He has always been very helpful with my many questions.
Rejoice in the Thunderstorms of Life . . .
Knowing it's not about Clouds or Wind. . .
But Learning to Dance in the Rain ! ! !