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deerhunting
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Yes MM , Goldman and other big institutions do everything you suggested.But you are incorrect on one aspect , the big institutions do not "announce to the world" but Traders Audio does. Ben at Traders Audio has a both rite in front of the pit and announces what happens from the locals long to the institutions being short. I find it a useful tool.
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I do hear the pit noise , but do not trade off of their trades. Lets say I just went long , and the pit noise gets loud and I hear Goldman came in and bought 125 cars. That just confirms what I thought and price reflects it. Im sure as Goldman gets 125 big concracts on the pit their screen traders will be buying 5 times that, since 5 emini's make 1 big contract.
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Dont forget Shi Corp , they do buying and selling in the pit also.
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Hi Steve , awesome post. I have a question if you don't mind.? The es opened at 1311.50 ran up and hit supply correct? Then ran down to demand (this is were I get a little lost , because it never found demand). It did not find demand and closed below the 30 day moving average on the es. Why didn't the big boys come in defend the opening price of 1311.50? I know you may not know why , but I would like to hear your thoughts on the subject. I have read this post a number of times and keep picking up information every time. Thanks for sharing your knowledge of the big boys.
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Introduce Yourself Here - Don't Be Shy!!
deerhunting replied to trading4life's topic in Beginners Forum
Hello all , I am also new to TL. I have been involved with the markets since 07 in one way or another. Last year I started day trading the es , with so,so success. Some days are winners ,and some days are losers its the learning curve. I am still smoothing out my strategy on the es trading time frames. I have found some great learning tools already. Great to meet everybody.