Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

notouch

TradersAudio: priceless or worthless?

Recommended Posts

Ben is a great guy but I find his service more off-putting than helpful. It's difficult to concentrate with some guy shouting at you through your PC speakers, especially when he's doing stuff like answering telephone calls. It's helpful to know what the investment banks are doing but most of the volume is through Globex not the pit so you'd be better off looking at the tape for large orders. As for pit noise this is mostly just locals shouting at each other and gives you much less information than looking at volume at the bid and ask or just tape reading. The "one of my top 10 locals is pushing lower" type comments seem great when the market then moves but half the time it doesn't. For those who find it useful how do you actually use it?

Share this post


Link to post
Share on other sites

I agree notouch, I find pit noise a distraction and nothing more. As everyone else here, I've tried it, thought it would give me an edge and all it did was stir up emotions while trying to trade. What I mean is, I could be in a trade (say long for example) and a large sell order comes thru and you panic b/c you are long and a big sell just hit. Well, that 'large' order could just be some covering or not much really at all. Whereas your chart would simply keep you in the trade.

 

I just found it a waste of money and a distraction.

Share this post


Link to post
Share on other sites

I love the pit noise. If you see prices advancing with rising pit noise then you know that the market most of the time is moving higher. If prices then retrace on low volume pit noise, then you know there's not much new selling coming in, just profit taking. If pit noise then increases in volume on a move up you know fresh buying is coming in.

 

I don't use pit noise at all for signals to enter or exit. It's interesting to note what the banks are doing and the top tenners, and also to observe that the banks do sometimes get it wrong. For example on Feb 27th in the morning, the banks accumulated a huge long position over an hour or so and were then forced to sell out when the market crashed in the afternoon - it was quite something to watch (hear, lol).

 

Some people like pit noise, some hate it, horses for courses, whatever floats your boat. I like it.

Share this post


Link to post
Share on other sites

It seems you like it but it doesn't help your trading. What you say about pit noise volume you could just replace with electronic volume and you have an indicator which is easier to read and more reliable.

Share this post


Link to post
Share on other sites

Very true, however I like it because it gives confirmation of a lot of my signals. As I said I don't use it to enter or exit trades, just a comfort factor really, and Ben makes me laugh sometimes when he says things like, "Merrill has stuffed these locals BIG TIME here now guys." :)

Share this post


Link to post
Share on other sites
Very true, however I like it because it gives confirmation of a lot of my signals. As I said I don't use it to enter or exit trades, just a comfort factor really, and Ben makes me laugh sometimes when he says things like, "Merrill has stuffed these locals BIG TIME here now guys." :)

 

key - so the question is, if you are in a trade and the pit noise does not 'comfort' you, do you exit the trade based on this?

 

I think the pit noise can give a false sense of security. One example I remember was when a trader friend of mine was using pit noise (he no longer uses it) and we were in a chat room together and he said something like 'pit just said Merrill buying huge lots' during some action. He proceeded to buy. About 30 seconds later he was stopped out. Granted this was one example, but I'll never forget it.

Share this post


Link to post
Share on other sites

I think that Ben is great to listen as far as price action in the pits if you are trying to learn how to correlate what is going on in the pits with what you are seeing on your charts. Being able to read price action is very important as a day trader and I prefer to watch it on my charts rather than listen to it in the pits.

 

I feel a good exercise to during the lunch time trade move is to listen to Ben and try to understand how what he is saying shows up on your charts. Always being in tune with the day traders in the pit will put you in the correct mindset to correctly read the price action momentum in the market.

Share this post


Link to post
Share on other sites

I personally would never use it for entries/exits, but in my opinion TradersAudio does a good job at helping one learn how to actually read the tape and the natural flow of the market. Trying to learn by strictly watching a chart can be difficult for many. Having someone on the floor telling you what moves are cause by the locals versus the paper and where they are pushing or stuck while watching live on the chart can be extremely helpful to some. It helps the concept of price discovery sink in as the locals push to the extremes of the current value looking for interest (paper) and to see what happens when they do and don't find it. Like anything, it depends on where you are in your development, personality, and style. However, I do agree that one should be very careful at actually using it to trade. I view it more as an educational service. :2c:

Share this post


Link to post
Share on other sites

I know my trading has improved listening to Ben's squawk at TradersAudio.com. If you visit the pit, like I did a few weeks ago, you know the importance of the broadcast and how many trades the squawk and the pit gives you.

 

For example; if the Locals are stuck short and the ES begins to rally, it is only a matter of seconds before the Locals either buy in the pit or buy the ES. That information is worth the few dollars a month for the service.

 

Plus the squawk keeps us aware of Fed meetings and Economic reports every trading day, every trading minute.

Share this post


Link to post
Share on other sites
I know my trading has improved listening to Ben's squawk at TradersAudio.com. If you visit the pit, like I did a few weeks ago, you know the importance of the broadcast and how many trades the squawk and the pit gives you.

 

For example; if the Locals are stuck short and the ES begins to rally, it is only a matter of seconds before the Locals either buy in the pit or buy the ES. That information is worth the few dollars a month for the service.

 

Plus the squawk keeps us aware of Fed meetings and Economic reports every trading day, every trading minute.

 

 

For me, its not the good signals it gives - but the amount of noise in between.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Topics

  • Posts

    • Date: 3rd April 2025.   Gold Prices Pull Back After Record High as Traders Eye Trump’s Tariffs.   Key Takeaways:   Gold prices retreated after hitting a record high of $3,167.57 per ounce due to profit-taking. President Trump announced a 10% baseline tariff on all US imports, escalating trade tensions. Gold remains exempt from reciprocal tariffs, reinforcing its safe-haven appeal. Investors await US non-farm payroll data for further market direction. Fed rate cut bets and weaker US Treasury yields underpin gold’s bullish outlook. Gold Prices Retreat from Record Highs Amid Profit-Taking Gold prices saw a pullback on Thursday as traders opted to take profits following a historic surge. Spot gold declined 0.4% to $3,122.10 per ounce as of 0710 GMT, retreating from its fresh all-time high of $3,167.57. Meanwhile, US gold futures slipped 0.7% to $3,145.00 per ounce, reflecting broader market uncertainty over economic and geopolitical developments.   The recent rally was largely fueled by concerns over escalating trade tensions after President Donald Trump unveiled sweeping new import tariffs. The 10% baseline tariff on all goods entering the US further deepened the global trade conflict, intensifying investor demand for safe-haven assets like gold. However, as traders locked in gains from the surge, prices saw a modest retracement.   Trump’s Tariffs and Their Market Implications On Wednesday, Trump introduced a sweeping tariff policy imposing a 10% baseline duty on all imports, with significantly higher tariffs on select nations. While this move was aimed at bolstering domestic manufacturing, it sent shockwaves across global markets, fueling inflation concerns and heightening trade war fears.   Gold’s Role Amid Trade War Escalations Despite the widespread tariff measures, the White House clarified that reciprocal tariffs do not apply to gold, energy, and ‘certain minerals that are not available in the US’. This exemption suggests that central banks and institutional investors may continue favouring gold as a hedge against economic instability. One of the key factors supporting gold is the slowdown that these tariffs could cause in the US economy, which raises the likelihood of future Federal Reserve rate cuts. Gold is currently in a pure momentum trade. Market participants are on the sidelines and until we see a significant shakeout, this momentum could persist.   Impact on the US Dollar and Bond Yields Gold prices typically move inversely to the US dollar, and the latest developments have pushed the dollar to its weakest level since October 2024. Market participants are increasingly pricing in the possibility of a Fed rate cut, as the tariffs could weigh on economic growth.   Additionally, US Treasury yields have plummeted, reflecting growing recession fears. Lower bond yields reduce the opportunity cost of holding non-yielding assets like gold, making it a more attractive investment.         Technical Analysis: Key Levels to Watch Gold’s recent rally has pushed it into overbought territory, with the Relative Strength Index (RSI) above 70. This indicates a potential short-term pullback before the uptrend resumes. The immediate support level lies at $3,115, aligning with the Asian session low. A further decline could bring gold towards the $3,100 psychological level, which has previously acted as a strong support zone. Below this, the $3,076–$3,057 region represents a critical weekly support range where buyers may re-enter the market. In the event of a more significant correction, $3,000 stands as a major psychological floor.   On the upside, gold faces immediate resistance at $3,149. A break above this level could signal renewed bullish momentum, potentially leading to a retest of the record high at $3,167. If bullish momentum persists, the next target is the $3,200 psychological barrier, which could pave the way for further gains. Despite the recent pullback, the broader trend remains bullish, with dips likely to be viewed as buying opportunities.   Looking Ahead: Non-Farm Payrolls and Fed Policy Traders are closely monitoring Friday’s US non-farm payrolls (NFP) report, which could provide critical insights into the Federal Reserve’s next policy moves. A weaker-than-expected jobs report may strengthen expectations for an interest rate cut, further boosting gold prices.   Other key economic data releases, such as jobless claims and the ISM Services PMI, may also impact market sentiment in the short term. However, with rising geopolitical uncertainties, trade tensions, and a weakening US dollar, gold’s safe-haven appeal remains strong.   Conclusion: While short-term profit-taking may trigger minor corrections, gold’s long-term outlook remains bullish. As global trade tensions mount and the Federal Reserve leans toward a more accommodative stance, gold could see further gains in the months ahead.   Always trade with strict risk management. Your capital is the single most important aspect of your trading business.   Please note that times displayed based on local time zone and are from time of writing this report.   Click HERE to access the full HFM Economic calendar.   Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding of how markets work. Click HERE to register for FREE!   Click HERE to READ more Market news.   Andria Pichidi HFMarkets   Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in Leveraged Products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
    • AMZN Amazon stock, nice buying at the 187.26 triple+ support area at https://stockconsultant.com/?AMZN
    • DELL Dell Technologies stock, good day moving higher off the 90.99 double support area, from Stocks to Watch at https://stockconsultant.com/?DELL
    • MCK Mckesson stock, nice trend and continuation breakout at https://stockconsultant.com/?MCK
    • lmfx just officially launched their own LMGX token, Im planning to grab a couple of hundred and maybe have the option to stake them. 
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.