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Is watching Time and Sales useful at all?
- Thread starter CyJackX
- Start date
In order to read the spoofing and everything t&s has to offer you need to read the orderflow and have a fancy DOM like jigsaw, w/ jigsaw if 1 side is getting weak bc lets say the sell sides orders are being taken away well jigsaw shows you the buyers vs sellers like every dom then the next row to the left of buyers it is telling you row by row in order of the 1st sell side column of how many sell orders are being taken away and/or added at each price updated as fast as you can blink, u have it set at your preferences and it will tell you via audio "large order buy 552" or "Iceberg order 400, minus 200" etc.... and there are multiple other columns on the DOM telling you more tape reading info and more audio and 2 different types of tape measure and everything is customzinable and they have a few different toys of various ways to show you momenturm in how ever you lke to see it and order flow. The platform is expensive and only the pros know how to use it and all you get is a dom, not even the change amount of any contract and if you truly learn it you'll be amazed that you trade better, shorter times and the only thing your using is a dom. At the end of the day who cares what the price of instrument is- is there a trade there or not and Jigsaw has the answer
No I don't work for jigsaw, I own a hedge fund and just switched my entire fund or funded all traders with jigsaw, profits are up 46% higher then last year and still have 5 montyhs to go
what dom do you use?
They can't prove it. They can't reply in a sentence either because just like the last comment it will not make sense b/c this person doesn't know a thing about trading. As in not only did they wash out the 1st week they tried, but can't even bs b/c doesn't know trading vocab. But spent enough time to respond in pink.
It's not for everyone
Took the words right out of my mouth, you couldn't have said that better and replied any more polite. Thank youWe all stare at charts -- that's what every person in finance does all day basically, more or less.
Charts,... along with a host of other considerations and factors and variables.
But the devil/skill is in the details or intuition -- looking at charts/trading is kind of like art...we all see and interpret it slightly differently,
The blind will look at charts like brain dead robots; while the more ...open-eyed...will see and sense things happening and unfolding constantly,
...
All of this is kind of highly dependent depending on if you're a day trader, swing trader, or longer-term investor.
It's kind of hard (or not applicable) to apply a wide, blanket statement to everything in the marketplace.
But1Sell2- any person in this business can't be successful and think in such absolutes especially about charts in finance. I know your new but listen to this guys reply and focus on what he's saying about blanket statements. It will help you if you decide to try any form of finance 1 day. Just don't don't tell your boss about your chart philosophy, or uor font
110% that is so wrong about 90% of volume being done by algo trading machines. Besides my custom computers have algos and theyre technically trading machines.
the percentage use to be higher but the high frequency trading machines done by algos was a wall street fad, it took us a few years but all us funds figured out how to beat them and not long everyone did, that's been a dying business for a while not and on the major decline.
I also know you dont know what your talking about b/c I have a letter from the sec congratulating my hedge fund for being in top 1% of volume done that year for an exchange (I am being vague as I can't talk about my holdings) and yes we did a lot of volume but it goes to show how much volume is done is we were top 1%.
Back to good conversation on order flow
Your wrong, order flow can have a major impact. Unless my hedge fund has just been lucky on our holding since I started it in '05. It is by no means the same, but you can't talk trading and investing tactics and strategies in absolutes and succeed. But your correct on the 2nd part
Just bc it has a lot iteration doesn't mean the computer has found the right trade yet, 90%+ of all h-freq trading firms trades are losers, very common knowledge. The fast computer doesn't mean it spitting all that out doesn't mean its right, I can look at a chart and make a trade or know there isn't a trade in 2=30 seconds and I'm usually right. Your talking about the past, that stuff doesn't effect the markets anymore b/c everyones computers can now catch those hi feq. trades they could sneak through 6 years ago.
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