Commodities Futures Broker

A market order in options will frequently bring you shockingly bad results due to the poor liquidity. Always use price orders in futures options! Learn how to place orders. Make sure your terminology is correct, make certain you mean what you say, and make sure you listen to the order as it is repeated back to you. You are liable for your orders. Errors will cost you.

Don't beat around the bush. When you place your orders, speak quickly, decisively, and clearly. Keep a written record of your orders. Even if you trade only one market, once a day, keep a written record which includes the market, whether you bought or sold, the type of order, the quantity, the price you were filled at, your order number (as given to you by the order taker), and the time you placed the order. Don't fail to note all the above. It will save you a great deal of money in the long run.

Report all errors immediately. The longer you wait to report an error, the smaller the odds of having it rectified.

Always, always, always, always check out at the end of the day, especially if you have traded a great deal. By check out I mean make certain you have received all your fills and that you have closed out all your trades. Many brokerage firms will send you a preliminary run at the end of the day via modem. Print out the run and check it against your order sheet.

Top