Recent content by MSE

Does anyone have insights on the best or most popular session hours for calculating floor pivots (standard floor pivots) for gold futures? The floor session is 9 to 14:30 EST, but there is plenty of trading outside those hours. I have used both the floor hours and a 24hr session that starts...

Spot forex does not quote trades -- the trades are just not available in the data stream. Only bids and offers are quoted. What you typically see depending on your charting software is the midpoint of the best bid/ask at any given time. Every time the bid or ask levels change for any reason...

On the subject of whether the floor is obsolescent - you can look at it from a business perspective. The original purpose of the trading floor/exchange was to provide a means to have a market at all -- there were no electronic markets. The floor traders were the market. Now that...

Jsmooth -- thanks for the excellent explanation, especially of the 10-20t jumps. This makes perfect sense to me considering the types of moves that are typical -- pure electronic markets (forex for example) typically don't jump around that much (unless the spreads are wide). They can move fast...

Thanks nolajay. I sometimes get hurt, sometimes helped by the sharp moves. They are sometimes predictable in the DOM (limit order book) when the size dries up on one side of the market. I would like to be better able to predict them.

Thanks for the pics, rubibond007. I opened the thread to try to get some discussion of the intraday swings in crude during pit hours. Typical days at least lately seem to be characterized by pauses in trading followed by almost instant moves of 10 to 20 ticks, without much of indication of...

This thread is for discussion of volatility in NYMEX crude futures during RTH (pit) hours. How do floor traders handle (or contribute to) the large swings (10 to 20 ticks sometimes) -- do they trade on even 10t handles and other S/R levels for example, or something along those lines...