You guys might find the humerous....
NO BS Day Trading (order flow course) - Worthwhile or worthless?
- Thread starter Howard
- Start date
I used market depth (resting orders in many levels) very extensively but have no use for TS.
I did chuckle a few times.
Is that because you anticipate what's going to happen based on market depth and changes in that depth and don't care about what's actually transacted? Or do you 'read' what's being transacted directly from your DOM?
I'd imagine seeing actual orders being transacted and the pace of tape might be useful. Will be testing it myself this coming week.
I've spent the entire day watching the T&S. Current set-up using Jigsaw and its reconstructed tape:
Filtered @ 100 lots to the left of the DOM. Unfiltered with 'block' trades highlighted (user defined at 50 for now) to the far right.
I might very well end up not using this information, but I do find the topic fascinating and interesting to explore further. It's very enjoyable and interesting to watch the pace of the tape and volume pick up when the market starts moving.
At the end of the day it's just information and a different way of displaying price. As said, I might not find it useful or significantly useful for my trading methodology (which admittedly is not concerned with scalping for ticks), but for now I'm keeping this on my workspace.
Filtered @ 100 lots to the left of the DOM. Unfiltered with 'block' trades highlighted (user defined at 50 for now) to the far right.
I might very well end up not using this information, but I do find the topic fascinating and interesting to explore further. It's very enjoyable and interesting to watch the pace of the tape and volume pick up when the market starts moving.
At the end of the day it's just information and a different way of displaying price. As said, I might not find it useful or significantly useful for my trading methodology (which admittedly is not concerned with scalping for ticks), but for now I'm keeping this on my workspace.
Howard,
Take a look into this video to see how much info you have neglected. Don't mind the guy talking, he's just blah blah w/o really understanding why flashing bars (market depth of resting orders at many levels) doing something sometimes & sometimes doing other things. SC, Bookmap Jigsaw etc all have those tools some have more than others.
Take a look into this video to see how much info you have neglected. Don't mind the guy talking, he's just blah blah w/o really understanding why flashing bars (market depth of resting orders at many levels) doing something sometimes & sometimes doing other things. SC, Bookmap Jigsaw etc all have those tools some have more than others.
Hi, SkyChef,
I quickly scrolled through the video without understanding too much of it as I'm headed out. Can check in detail later tonight.
It does remind me of Jigsaw's Auction Vista.
Specifically, what kind of information do you feel I've neglected?
I'm starting to feel that with all my other stuff up it's closing in on 'too much' information already, but I'm keeping an open mind with all this...
Thanks.
Are you guys finding any value in order flow in this environment?
I had the Jigsaw stuff up on Monday last week, but didn't use it on the remainder of the week. I've had more than enough using my existing methodology and had my most profitable week in a long time.
I'd imagine that the markets are moving way too fast now for order flow to have substantial value.
I had the Jigsaw stuff up on Monday last week, but didn't use it on the remainder of the week. I've had more than enough using my existing methodology and had my most profitable week in a long time.
I'd imagine that the markets are moving way too fast now for order flow to have substantial value.
That would be a premature conclusion based on lack of experience. Observing orderflow has a place in a complete system. It’s another skill set to master and it’s use comes to the forefront during different market events and conditions.
Dipping your toe into the water of all things orderflow is not sufficient to be able to draw any kind of conclusions. You are not so expert that you will detect with minimal effort what it takes most mortals months to figure with maximum effort.
However, you seem somewhat intelligent and so i feel confident in stating that the more time you spend watching (specifically a disaggregated, unfiltered t&s + level 2), the more questions you will have, and ultimately the more answers you will be driven to find.
There is a tremendous advantage to being able to read a tape. I can, for instance, identify support much earlier than any chartist could.
However, you seem somewhat intelligent and so i feel confident in stating that the more time you spend watching (specifically a disaggregated, unfiltered t&s + level 2), the more questions you will have, and ultimately the more answers you will be driven to find.
There is a tremendous advantage to being able to read a tape. I can, for instance, identify support much earlier than any chartist could.