Spydertrader's Jack Hershey Futures Trading Journal

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The following link is a short video showing how 4k is added below the bid (at 1468.75 @11:19:43) and then removed 6 seconds later. After studying the DOM for a few days, I have noticed that this occurs frequently, where walls are created and then removed very quickly, several ticks away from the current price. Is there something that can be anticipated when seeing this?

http://rapidshare.com/files/52339345/dkm2.avi.html

When you get to the rapidshare screen, scroll down, click on "free", enter the given code, and download.
 
Quote from cnms2:

FTT in the thin green channel:

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1586482>
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in that case, why 11:45 black bar is not a FTT?

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1587534>
 

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Quote from dkm:

The following link is a short video showing how 4k is added below the bid (at 1468.75 @11:19:43) and then removed 6 seconds later. After studying the DOM for a few days, I have noticed that this occurs frequently, where walls are created and then removed very quickly, several ticks away from the current price. Is there something that can be anticipated when seeing this?

http://rapidshare.com/files/52339345/dkm2.avi.html

When you get to the rapidshare screen, scroll down, click on "free", enter the given code, and download.
More...

Tricky... Thanks for the video.
 
Quote from dkm:

The following link is a short video showing how 4k is added below the bid (at 1468.75 @11:19:43) and then removed 6 seconds later. After studying the DOM for a few days, I have noticed that this occurs frequently, where walls are created and then removed very quickly, several ticks away from the current price. Is there something that can be anticipated when seeing this?

http://rapidshare.com/files/52339345/dkm2.avi.html

When you get to the rapidshare screen, scroll down, click on "free", enter the given code, and download.
More...

When you see someone over on the thousands place holder adding and deleting, you know several things:

1. He has the margin to be able to do it.

2. He is not making a typo.

3. He knows that his add is not going to be traded unless someone very serious eats his way through the obstacle between current BBid and BAsk and the "wall he created".

4. He is reading the "reaction to his play that is "out of the market". See chapter 4 of Harris. Then look around page 200 or so.

For me, I deal the opposite way than Doyne Farmer's paper, recently misquoted by surfer. Read the humorous recitation by Bass on Predictor Corporation for more flavor.

These days it "feels" like everyone moved left a significant digit with their games. So we can cound on the "minority control" being more rapidly eliminated to move price. So always keep your eye peeled on which place holder is the one evaporating on the minority side the fastest.

What we are doing is prepping to anticipate the TIME the wal is going to be hit and a reversal trade can carve the turn.

You may see people playing "out of the market" with big add/deletes, but when the wall moves to the BBid/BAsk they are no longer playing one of the games. You, then, do know who is sponging up the limits at the wall though, since your eyes on peeled on that place holder level. It is never the units place holder. You only look there during cascading to watch the accounts getting wiped out.
 
Was I alone today as I sat and scratched my head, while price rallied strongly during the decreasing green (black) volume gaussian. Hindsight easily shows we were in a non-dom traverse as price sought the new Pt. 3 down - just wondering if others were correctly anticipating what was transpiring realtime?

I'm referring to the 11:25 (12:25 EDT) rally, as circled on the attached chart.

Thanks...
 

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Quote from mephistoII:

Was I alone today as I sat and scratched my head, while price rallied strongly during the decreasing green (black) volume gaussian. Hindsight easily shows we were in a non-dom traverse as price sought the new Pt. 3 down - just wondering if others were correctly anticipating what was transpiring realtime?

I'm referring to the 11:25 (12:25 EDT) rally, as circled on the attached chart.

Thanks...
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You are not alone. I noted a short around the 12:00pm bar as a pt 3 down. My RTL was broken on decreasing black volume (meaning my channel must be re-drawn) and we were still on a down trend. When I annotated a B2B (12:30-12:50 time frame) I wondered if I missed something because the decreasing black kept telling me it just the retrace.

In the context of a wider down trend which I considered the retrace was part of, I took the retrace was continuation (of short) until the B2B.

There was a B2B at 12:30 on the YM. But I have seen B2Bs form on the YM during the retrace of a ES channel and didn't make too much of it.

Just sharing my thoughts to see if I could have done things differently.
 
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