Author: Guy Bower

Yes, We Speak in Code

When new to futures or new to specific futures markets, it can be tricky finding the right codes. For futures codes on CQG, codes are in the format market month year – without the spaces. So December Crude is: CLEZ2 CLE =...

Read More

What Is The Market Trying To Do?

Here is an email from and response to one of our trainee traders:Hi Mr Bower, I am trying to experiment with how to better tackle trending & choppy markets, and some fading strategies. I’m also trying to trade the more...

Read More

Trading The Obvious

In a recent update we looked at a spread trade in Corn, citing the upside move was overdone and the spread had the potential to narrow dramatically. See here. Over the last few weeks, the spread has done exactly that. This...

Read More

Size Isn’t Everything

I can’t help it. I keep seeing similarities between riding a motor bike and trading. They are everywhere. As young blokes and fans of MotoGP, we are brought up to think scraping your knee around corners is not only...

Read More

Who Says Technicals Do Not Work?

An interesting move in Soybeans last night. The market finished limit down with heavy offers. It looked nothing but bearish. The reopen saw the market trade down 15pts pretty quickly. Then a retrace to cover the gap, resistance...

Read More

DV01 Pricing Tools

Here are a couple of tools we use in the analysis of note and bond markets and calculation of DV01s: Excel file for SFE bonds: sfe_futures_and_options_calculator CME Duration Tool for CBOT Treasuries: Link...

Read More

Some Thoughts on Corn

1. I saw some interesting stats the other day comparing 2012 with 1988 (chart below). Back then there were similar estimates for poor quality crops. Prices almost doubled then. We’ve gained only about 60% this year by...

Read More

Correlation and Lag Trades

Gold and Crude Oil in normal day to day movements are not overly correlated. They do not move tick for tick or take a lead from one another as strongly as the 10yr note and the 30yr bond. However during times of volatility, that...

Read More


Join our mailing list to receive the latest news and updates from our team.