Pit Noise: Trading with an Edge

[Soultrader]

Its working fine for me here: http://www.traderslaboratory.com/for...terms-170.html

Try again keymoo.

[TinGull]

http://www.traderslaboratory.com/for...pit-terms.html

that link which was posted in the first post is dead for me too. The second link works fine that you just posted.

Thanks James!

[nasdaq5048]

There is a discount link for Tradersaudio. PM me if you are interested.

[cooter]

	Quote:	nasdaq5048
	There is a discount link for Tradersaudio. PM me if you are interested.

Hey Nasdaq,

A few q's if i could....about the Pit Noise.

Do you find it useful in your daily trading?

Is it worth the monthly cost for you (in other words, do you think it helps you net more $$$ than it costs)?

Do you listen to the pit noise, Ben's calls or both?

Do you follow Ben's calls, or fade them? Same with the noise - go with it , or fade it?

[notouch]

Ben doesn't make calls, he just reads out the bid, ask and trade prices and describes what's going on in the pit.

Pit noise is just a very imprecise way of measuring volume on the SP contract. You'd be better off looking at ES volume which is where all the liquidity is. Pit noise is not going to give you some secret, magical "edge" which other traders haven't discovered.

[cooter]

Yeah, thanks for confirming my understanding of what Ben does. What's I'm trying to find is.... is his service useful or not to traders.

Do you fade his observations like "One of my largest brokers has plenty to sell... Merrill just sold 200 and is looking for more..."? You get the point....

	Quote:	notouch
	Ben doesn't make calls, he just reads out the bid, ask and trade prices and describes what's going on in the pit. Pit noise is just a very imprecise way of measuring volume on the SP contract. You'd be better off looking at ES volume which is where all the liquidity is. Pit noise is not going to give you some secret, magical "edge" which other traders haven't discovered.

[cooter]

	Quote:	Soultrader
	I may be able to send you a special discount offer from my former vendor. [snip] If you have any questions, post them here. I will be glad to answer any questions.

Sure. You say "former" vendor. Could you expound on that for the benefit of forum members?

[notouch]

Cooter, I didn't find that at all useful. Merrill might sell 200 and the price may go up or down or nowhere. You definitely couldn't trade off of that. Merrill selling a few hundred here or there makes no difference. All the volume is on ES where it's not unusual to see several trades of 500 or more coming through every second.

[keymoo]

Again its horses for courses, whatever floats your boat. I love the pit noise and like to know when the pit is getting frantic and when it is quiet. I don't use it to trade from at all, but it gives me another sense in trading. For example if, off the open large institutions are on the bid and offer, it usually ends up being a choppy day, there are several things like that you can pick up on. Some people hate it and find it annoying, but I wouldn't trade without it now.

[Soultrader]

	Quote:	cooter
	Sure. You say "former" vendor. Could you expound on that for the benefit of forum members?

Cooter, can you pm me? I can send you a discount link.