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Do you want to hear the music of markets?
- Thread starter abogdan
- Start date
Quote from bobcathy1:
The only music that I listen to is the sound of money being
deposited into my bank......I usually have financial news on.
I think maybe a Squawk Box would make good music to trade
by.....you can hear the roar of the traders from the pits.
Hi bobcathy1,
I would suggest that those on this thread who are not convinced by your post stick to pure and simple grassroots astrology. This to me looks more straightforward than this musical clown gadget out of the 1920's.
Be good,
nononsense
Quote from callmeput:
I don´t understand how you can be sure that you hear the correct melody when there are lots of hidden and canceled orders.
Is Level II useful for trading? If your answer is "Yes" then sounds that I create simply help a trader follow the Level II screen a lot more accurately and easily.
Quote from callmeput:
I don´t know how helpful it is. There are traders claiming to trade es based only on ask/bid size. But if the market notice their advantage will it not steal their edge?
Same with your system?
Nothing last forever....
Something like that. I have traders who are following Level II with sounds they like it so far. We will see how it stands in couple of months.
Still interested in sound, I have been playing around with it in C using t&s history of ES, I plan to do something along these lines. Due to canceled orders/fake size, using market depth/level II as the data for the sound is flawed. Instead I plan to take the history of trades (which is what really counts anyways) and working from that. Similar to the made up story posted, orders hitting the ask are major chords and orders hitting the bid are minor chords. I will also compare current price to an average of the last 1 minute (I have considered different lengths, will have to play around with it if I code this) of trades weighted by size, the further price is above it the higher the chord, the further below it the lower the chord. That way you can actually hear market exhaustions, an exhaustion to the upside would sound like notes rising in major very quickly and then suddenly dropping to low minor chords. As far as including size in the equation, I think the best way to do it would be to make volume a functon of size. That way, if you have a bunch of small orders go off at the bid mixed with large orders going off at the ask you would hear a few quiet minor chords in the background and the occasional loud major chord. Any suggestions? I don't really plan on trading using this but just thought that it would be extremely cool to listen to.
YES, I AM LISTENING. IT'S INDEED WONDERFUL ISN'T IT?
"Humans have a very narrow dynamic comprehension range which allows us to process information accurately only at a very specific speed." Abogdan
This is why (and its easy to do) many traders or 'wannabes' often jack themselves about all over the place losing money over narrow time ranges when you have to perceive the whole market day ahead. If its to be an upday and you are looking at a price going down and down you brain reads DOWN .. it doesn't say 'This is part of todays upday'.
Big picture: focus on the zero sum mechanism (ie Dow); do your research; set up your model; start making your money from the whole day cycle.
This is why (and its easy to do) many traders or 'wannabes' often jack themselves about all over the place losing money over narrow time ranges when you have to perceive the whole market day ahead. If its to be an upday and you are looking at a price going down and down you brain reads DOWN .. it doesn't say 'This is part of todays upday'.
Big picture: focus on the zero sum mechanism (ie Dow); do your research; set up your model; start making your money from the whole day cycle.