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Jleon
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Everything posted by Jleon
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Very nice, nothing beats the feel of the tape though and it does strain the eyes. I use the tape far more than a chart. A chart just shows me where things are at.
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- tape
- tape reading
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Trading Tip #13: How to Pick Intraday Market Direction – the 80% Rule
Jleon replied to tradingadvantagetm's topic in Futures
You are full of shmit, show me a brokerage statement to back it up. Happy Trades- 60 replies
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- commodities trading
- commodity tips
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When I said they don't show it at all I meant they only show the quotes and nothing about time and sales. Others only show a 1 or a 2 by the traded price level as the transacted amount is broken down into ones and 2s (ninja trader)
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The edge with these DOMs is far greater than without, most break up the orders or do not show the T/S at all. If you need to see the HF trades I would recommend having it programmed and running it along side your DOM's, works pretty good.
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T4 by CTS and Trading Technologies Depth of Market Platforms. Both of these vendors offer great D.O.M. that show T&S on the DOM.
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It takes about a year to get over being sucked in. After this you can really learn how to manage yourself and trade responsably at the Supply/Demand set ups that you start seeing. Good luck.... Here is a set up for ya to help ya out on this video. [ame=http://www.youtube.com/watch?v=rFQN4rSievs&feature=related]Profitably Scalping with the Tape - YouTube[/ame] Good luck!
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- tape
- tape reading
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Level 2 is still worth its weight in showing the games being played although the T&S gives the best window into supply and demand. Most games comply with supply and demand on the tape. It is very useful when looking for an entry. The flipper got his name from playing these games on the DOM in favor of the overall S/D. Good Luck Advice: Look at the T4 or TT DOM to get the both the level 2 and time and sales data, this way you see the full picture:)
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I believe I know what you are talking about. Here is a video I made, it shows these large offers put up numerous times. The market rallied 2k per contract just after. [ame=http://www.youtube.com/watch?v=ePLTk6Qptrc]Painting the Tape - YouTube[/ame] Got to love the games!
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Just grab a T4 or TT DOM and it has all this on there. It will tally all bids and offers at current price. Its a very big help!
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Looks like ya got it all figured out. I would recommend Advantage Futures if you have any problems with Daniels. Ya never know how good your brokerage/FCM is until you need to contact them while the exchanges are down and orders are being cancelled in a busy frenzy. Good Luck
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What ever happened to reading the time and sales and d.o.m. Can you really sleep ok putting a trade of size on with FTT etc? I have read the tape for years and would not trade with out it and certainly not sleep while having a trade on if I wasnt in the know. I also see people using the histogram bars and such. Can you really get market direction from this? The only way i know if im on the right side of the market is order flow and a little bit of price action. Purest form the 11 years I have spent looking at things. For example: if a 500 lot is taken on the offer in Cotton and the market grinds higher I know it is still strong. If a 500 lot is taken on the offer and the market drops I know its really weak. Dont really know if I could get this probing info from those histogram? Happy trades.
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Cool. Yep im charging for it. Cost a lot of time and money to put together. If people want it great if not no biggie. Just trying to help out. I am a trader and know this will help others so I am offering it. If I was only a vendor I would offer trials and get caught up in charging fees etc.
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Correct, but this is not my soul purpose and the reason why im not offering a trial. Thanks
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The programmer was updating my site over the weekend. It should be up and running now. Yes, it finds large orders in the market and places them on a chart. I will update you later today with a video. I do not offer a trial and only offer it outright. My goal is not to become a vendor but continue as a trader and help others. Have a great day!
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I have spent many years in order flow and have created Algo's to find these orders. If you are familiar with Trading Technologies DOM and how it tallies orders at each price level you can understand the logic. Yes, it does work on multiple charts at the same time. I will upload videos later this week. Have a good one!
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The T/S and DOM is a crazy place that is for sure. To be able to see Iceberg and other institutional orders is a big help with any trading method. I have created Software that works with Ninja Trader and plots these orders on a chart in real time. I have been a trader for 11 years and have always looked at the order flow on the DOM and T/S but a lot of orders have become way to fast for the human eye or are hidden in tiny lots. I have examples and screen shots to help explain. This will help anyone that is trying to understand the market by tape reading. My website is Tradewithvolume Have a great day!
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The T/S and DOM is a crazy place that is for sure. To be able to see Iceberg and other institutional orders is a big help with any trading method. I have created Software that works with Ninja Trader and plots these orders on a chart in real time. I have been a trader for 11 years and have always looked at the order flow on the DOM and T/S but a lot of orders have become way to fast for the human eye or are hidden in tiny lots. I have examples and screen shots to help explain. This will help anyone that is trying to understand the market by tape reading. Have a great day!
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The T/S and DOM is a crazy place that is for sure. To be able to see Iceberg and other institutional orders is a big help with any trading method. I have created Software that works with Ninja Trader and plots these orders on a chart in real time. I have been a trader for 11 years and have always looked at the order flow on the DOM and T/S but a lot of orders have become way to fast for the human eye or are hidden in tiny lots. I have examples and screen shots to help explain. This will help anyone that is trying to understand the market by tape reading. Have a great day!
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The T/S and DOM is a crazy place that is for sure. To be able to see Iceberg and other institutional orders is a big help with any trading method. I have created Software that works with Ninja Trader and plots these orders on a chart in real time. I have been a trader for 11 years and have always looked at the order flow on the DOM and T/S but a lot of orders have become way to fast for the human eye or are hidden in tiny lots. I have examples and screen shots to help explain. This will help anyone that is trying to understand the market by tape reading. Have a great day!
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The Volume Price Relationship is without a doubt very true and at work every day. I even wrote a book about it. There is a lot of smoke and mirrors in volume. It takes a long time to understand what volumes to look at and why. For Example: Histogram Bars, Footprint, Market Profile, DOM, T&S, Big orders, Small Orders, Quotes, no volume, weak volume, exhaustion volume, etc.... The list goes on... This in itself is a full time job for years! Once a trader can understand this though I believe they can paint a good picture of the volume/price relationship. Good Luck! I offer free copies of books by Wyckoff and Jessy Livermore. These were the 2 best volume readers publicly known. Have a great day!
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I would recommend not trading Forex and trading futures instead. Forex is a brokers game not a traders. The pip/commission is a lot more than a futures round turn of 4-5.00 per trade. There is no way to legitimately know the underlying supply and demand health since there is no regulated exchange. This is the #1 reason why I wouldnt trade Forex. If you need guidance or material I offer books by Richard Wyckoff and Jessy Livermore for free on my site (Tradewithvolume) a long with many videos and a book of mine as well. If you have any questions feel free to drop a line. I just know to many people that blow up accounts a in Forex until they cant take it anymore and move on. Its better to get started off right! Have a great day!
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Got ya. Sounds good! I look at the order book and see how the orders are being taken at a particular area. This shows me if there is a lot of demand or supply there.
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Lows often run into strength and pop high as highs snap from weakness and go lower. As long as you are in the right part of the cycle!!
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Most do but they end up blowing it out there account in the first 6months and give up.... Better to start strong and right from the get go.