ALGO chart patterns. Post TIMEFRAME/MKT and discussion
- Thread starter REDP1800
- Start date
you can make a couple hundred bucks a night off a 1 lots when this one shows up.. place a limit sell above and a limit sell below and just keep moving them 2 pts above mkt n 2 pts below mkt or use a bracket order if your system will let you.
thisone showed up 2 days ago.. it is tough to trade because it rallies.. then fools chartists into thinking it is going a to have some follow thru and then they slam it lower. This is not really what the markets were designed for. This is a DISRUPTIVE practice and once the markeet gats takendowntot he point that finally the regulators say it is broken and investors won't show up anymore.. then they will say.. oh well yeah we probably do need to have access to the algos, but right now HFT and props are calling the algo intellectual property.. there is JHIGHKLY ILLEGAL code in the algos.. and the CME doesn't care because it brings volumes. sad. any way this one happens so quickly and is so brutal that there it truly is a LMO..LAND MINE ORDER!
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this is his cousin now explain to me how you could avoid this one..you cannot unless you trade on a longer time frame.. that is what is happening.. the HFT do not want any competition in the short game and neither do the props.. time frames either need to become longer or even shorter. there is no middle any more and soon the short game will be even more difficult. The cancels need more regulation and limits placed on the book need to have a 500 ms on teh book before being cancelled.. this is hte only way to stop this behavior..
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relatively few daytrade stocks. & even fewer do it to the extent you do, reading & taking advantage of algo mm behaviour
i've been the longer tf sucker sh*tted by algos on a no. of occassions now. avoid trading less liquid issues now
are these mostly on smaller & illiquid stocks? do you reco dastrader / jigsaw / buttontrader / bracket trader price ladders to spot such?
bl**dy hell.. you're the man to spot & trade these algos at their own game
how do you pre-empt such moves, placing limit orders at fringes & expecting to get filled? is it like fishing all day with ridiculous fringe limit orders, on "selected stocks"? how can we screen for such
No questions to ask. If it is consistent market behavior and not an anomaly it can be exploited, just place a limit sell/buy above/below with tight stops. It is a classic RTM scalp trade. In regards to sharing... capture your screen with the time of day and market being traded then we can program our algo to exploit their algo.