ES Journal - 2012

[gmst]

Quote from gmst:

closed the trade at 1339.75, and now long 1339.75. stop 2.5 points.

Edit: Target is 1344-1345 this time, hopefully

stop at BE + 1 tick, so 1340.

I was very tempted to close the trade at 1341.25 and then again at 1342.25. Good that I waited, if I close now, I can get 1343, but it seems there is a little chance that we actually erase all morning downmove and go up and make an attempt towards 1350 today. So, I will let this trade run, worst I close at +1 tick.

 

[bigsnack]

Quote from ammo:

you can go blind doing it but at the end of day when we get those 3 or 4 point pops ,you can just watch the volume pops on the totals to the right and see it rise repeatedly 2 or 300 at a crack and you know that bid or offer will disappear

Exactly. It seems that big money builds a position, usually by making the bid look weak and then gobbling up every contract as that price tries to go ask. Then they start eating up contracts and the asks that are there pull out. It seems like a lot of market movement is from contracts pulling, not necessarily active selling / buying.

I've been checking out the "No BS Daytrading" stuff, and I see that there is some good info there. The dude only trades using the DOM.

 

[bigsnack]

Looks like this pullback could lead us to new highs...

 

[Max618]

Quote from bigsnack:

Looks like this pullback could lead us to new highs...

Yes...but first needs to break VAH+78.6+VWAP+15'MA20 on 1344-1345

 

[Macho]

Selling 1 @134350 another on at 134625

Stop ZB 141'24

 

[Macho]

Quote from bigsnack:

Exactly. It seems that big money builds a position, usually by making the bid look weak and then gobbling up every contract as that price tries to go ask. Then they start eating up contracts and the asks that are there pull out. It seems like a lot of market movement is from contracts pulling, not necessarily active selling / buying.

I've been checking out the "No BS Daytrading" stuff, and I see that there is some good info there. The dude only trades using the DOM.

Yes, that is right.I have been surprised when I get some fills as I may have onlty put in the order a few minutes earlier and there appeared to be 300 contracts,at least,ahead of me and then all of sudden, I was filled on the ask price and it improved from there,momentarily at least.

So I don't even think about the DOM volumes when I place my orders. Did once,not now.

 

[ammo]

Quote from bigsnack:

Exactly. It seems that big money builds a position, usually by making the bid look weak and then gobbling up every contract as that price tries to go ask. Then they start eating up contracts and the asks that are there pull out. It seems like a lot of market movement is from contracts pulling, not necessarily active selling / buying.

I've been checking out the "No BS Daytrading" stuff, and I see that there is some good info there. The dude only trades using the DOM.

was talking about the volume traded all day at the right ,say its 29500 on the offer and 28700 on the bid price,when you see one moving 300 points and the other moving 47,and this continues the bid or offer will disappear and if it continues at each price,you know that there is one large 8 or 10k order being filled,you can grab a few bucks

 

[HurricaneUS]

Quote from bigsnack:

Exactly. It seems that big money builds a position, usually by making the bid look weak and then gobbling up every contract as that price tries to go ask. Then they start eating up contracts and the asks that are there pull out. It seems like a lot of market movement is from contracts pulling, not necessarily active selling / buying.

I've been checking out the "No BS Daytrading" stuff, and I see that there is some good info there. The dude only trades using the DOM.

If you can successfully read the order book then you can also successfully read the entrails of goats...

hft spoofing and decimalization for stocks has ruined the game....

 

[gmst]

Quote from ammo:

was talking about the volume traded all day at the right ,say its 29500 on the offer and 28700 on the bid price,when you see one moving 300 points and the other moving 47,and this continues the bid or offer will disappear and if it continues at each price,you know that there is one large 8 or 10k order being filled,you can grab a few bucks

ammo, can you pls post a pic of how your dom looks like.

I am on IB, and IB dom (market depth in IB) as well as Time and Sales does not have day's total volume traded on bid and offer. I am surprised that ToS has something like this. Thanks.

 

[Max618]

Moving back to high of value on 1345, I think that morning was just "Sell the News" and bulls still in control...