Question for Grob/Hershey...

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You see if the "execution" goes of at bid or at ask. If it´s a ask, someone steps up and buys at the market, if it´s at bid someone sells at the market.

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i'd like to get some feedback on a trade i did today because i think it was in line with most of what jack teaches

i knew where i was and what i was looking for to happen, and what i knew shouldn't happen to cause continuation to cease.

actual trade was
Long es @ 9:45 1269.50
exit es @ 9:51 1270.00 (mkt orders)

if there was something i didn't do that maybe i should have done, please offer suggestions.

i'd rather do 1 trade perfectly, than 10 sloppily.

i THINK i did very well on this trade from a functional point of view, but i'm just looking for psych. support i guess.

i have the indu overlay up but i don't know how to sweep fine, and i'm not attempting to do so. probably isn't necessary to simply do pt 2-3 traverses (that's my thinking).

i do want to be able to do it all though, eventually.

i'm not going to pursue the 1 tick scalping stuff.
 

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Many people take the Friday off after Thanksgiving. The market on Friday's can be fairly sedate as is, and following a Holiday makes them even more so.

Anthony
 
Quote from easyrider:

But how do you know which it is?
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If you did know which it was, how would that affect your decision? (Note, this is a real question - I'm not trying to be a smart alec.)

I started looking at the DOM yesterday, in order to get a better grasp of knowing when to exit. (Note, DOM says "reverse" but I'm not at that skill level yet. I'm still working on EHE)

Are you looking for the patterns listed in the fine sweep? i.e. translation to residence to 2 pair to 2 pair spike? If not, what patterns are you looking for?
 
Quote from aweissen:

If you did know which it was, how would that affect your decision? (Note, this is a real question - I'm not trying to be a smart alec.)

I started looking at the DOM yesterday, in order to get a better grasp of knowing when to exit. (Note, DOM says "reverse" but I'm not at that skill level yet. I'm still working on EHE)

Are you looking for the patterns listed in the fine sweep? i.e. translation to residence to 2 pair to 2 pair spike? If not, what patterns are you looking for?
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I don´t know, are you two talking about fishes while I´m talking about birds? :)

When the markets moving fast, there´s a spread between bid and ask so market orders are going of at each other in the middle so to speak, but the rest of the time market orders meet limited orders at either bid or ask. You see this in time and sales or you can watch it on dom.
My only "theory" so far is that the one with the market order is more likely to be right then the one with the limit order. if I remember correctly Jack has written about this somewhere.

Then of course it´s probably gonna take a lot of screentime to be able to use this as with everything else, and I think it´s dangerous to stay to long on this micro level, only for entries/exits.
But for me it´s giving me a clearer picture of whats happening, so even if I never will be able to use time and sales I think it´s valuable to study it for a while. I think Don Bright wrote that he let all his new students watch time and sales only for weeks to get a feeling for what´s happening.

Weekend,
Stalker
 
Quote from Stalker:

I don´t know, are you two talking about fishes while I´m talking about birds? :)

Stalker
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:) It is a confusing subject. Jack is always talking about staying on the five minute with only glances at the faster fractal occasionally. Well if staying on the faster fractal will make you hyper what will staying on t&s and dom do to you? It has never done anything but make things more confusing for me. I do ok without these things so I think Im just going to forget about it and relax with what Im doing now. Im really getting tired of wrestling with it.
 
I envy you being able to trade just the 5-minute chart easyrider, and I hope I will too some day. But half of the point for me to look at t&s is actually to understand the action on the chart better.

And don´t forget - very, very few is able to do what you do, your the kung-fu master of analysing the charts. :)

/Stalker
 
Quote from Stalker:When the markets moving fast, there´s a spread between bid and ask so market orders are going of at each other in the middle so to speak, but the rest of the time market orders meet limited orders at either bid or ask.

Is this possible? I thought a "market buy" order always filled the best Ask. I wasn't aware a market buy order could match with a market sell order. Searched cme.com and couldn't find clarification.
 
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