L
Lance Carson
Short from 1447.00 Target 1445.00-( someone gave me the clue, lol)
ES Journal Archive (2006 - 2008)
- Thread starter Buy1Sell2
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L
Lance Carson
Out at 1445.25
Done trading for the day unless something accelerates. YM in particular still looks unstable, imo.
'Market setups' are a manifestation of the market participants themselves. Sometimes they are engineered to be a setup, so that one group of participants 'trains' the market, and that same group instigates orderflow for the setup to become fruitful.
Meaning a large trading house, or trader, may artificially create a resistance level, repeatedly selling at a level, only to buy it back and break it, since stop allocation by the general market is engineered by this trader/ trading house.
Meaning a large trading house, or trader, may artificially create a resistance level, repeatedly selling at a level, only to buy it back and break it, since stop allocation by the general market is engineered by this trader/ trading house.
Pit traders can only reference:
Opening Range
High
Low
Prev High
Prev Low
So they can only workoff of these variables in terms of short term memory. Most are scalpers, since scalping is the lowest risk. Not scalping as retail does paying the spread. The edge is the ability for pit traders to make the spread from floor brokers.
The pit trader who gets directional bias scalping signals from off pit market monitors have even a better edge. They will only enter bidding on the scalp and exiting on the offer. The spread will have less chance of slipping away from them.
Opening Range
High
Low
Prev High
Prev Low
So they can only workoff of these variables in terms of short term memory. Most are scalpers, since scalping is the lowest risk. Not scalping as retail does paying the spread. The edge is the ability for pit traders to make the spread from floor brokers.
The pit trader who gets directional bias scalping signals from off pit market monitors have even a better edge. They will only enter bidding on the scalp and exiting on the offer. The spread will have less chance of slipping away from them.
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