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I've been thinking more about the beauty of being able to go long/short at same time the same contract. As well, the ability to clone symbols.
For example, let's say I want to hold a long exposure to the trend but scalp to the short side. I could …
As you can see one option I mention (and others) is that NT lets you SIMULATE being short and long at the same time (whether you are trading Live or SIM) without needing to bother your broker. So you could trying Simming this strategy first in NT Simulation mode.
Wash trades is considered in the US criminal activity.
"No person shall place or accept buy and sell orders in the same product and expiration month, and, for a put or call option, the same strike price, where the person knows or reasonably should know that the purpose of the orders is to avoid taking a bona fide market position exposed to market risk (transactions commonly known or referred to as wash trades or wash sales). Buy and sell orders for different accounts with common beneficial ownership that are entered with the intent to negate market risk or price competition shall also be deemed to violate the prohibition on wash trades. Additionally, no person shall knowingly execute or accommodate the execution of such orders by direct or indirect means."
I looked at those threads and it appeared the concept there was to take long term positions opposite
each other with different brokers. I would assume to bail on the one that fails.
My question is - one broker, with two contracts having opposite positions at some point.
An example being - Long over all for a daily swing in markets throughout the day, but then
coming across a consolidation area that can be both bought and sold at the range edges until
the direction is resolved.
As I stated, this is allowed within Market Replay / Ninja.
I suppose I will just try it tomorrow. I will know quickly if I get that lovely NT rejection crash sound.
I mean, they are separate contracts. Why would you not be able to have one contract to buy and one to sell?
yes... I have seem this mentioned on futures.io (formerly BMT) before.
As I would not be using the concept as a hedge situation, just trading a separate time frame / situation, I
could see how larger players could use the opportunity to manipulate the market.