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Old 04-26-2011, 09:17 PM   #9

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Re: Order Flow Advice

Im trying to set up the T&S in NT. There are options for setting the background color based on: traded at ask, above ask, at bid and below bid.

My question is, are the trades that traded above the ask or below the bid considered more aggressive?(newbie question.)
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Old 04-27-2011, 02:50 AM   #10

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Re: Order Flow Advice

Quote:
Originally Posted by pbylina »
Steve,


Yea, Im interested in futures. What is "NTSE tick and volume"? Why is the Level 2/Dom not important(just asking)?


I will be using MarketDelta. What are "break charts"? Would you consider the 'footprints' better than "Time and Sales"?


Ok, around key levels of Volume Profile, Pivots, etc.


Ok I will try.

Heres a cool interview of a guy who uses Order Flow:
YouTube - Boris Schlossberg Millionaire Traders
Okay well I don't have a l ot of time because I am trading the Globex this evening, First it is the "NYSE" TICK and it represents the number of stocks ticking up minus the number of stocks ticking down on the New York Stock Exchange. based on the readings, a trader can quickly see the intraday direction of the broad market as represented by stocks on the New York Stock Exchange. In addition, skilled traders use the tick as a way to get favorable entry on trades (and for so many other things)...
Volume is what I use to confirm my entries off of the NYSE Tick....once I am in a trade I use the $VOLD and $ADD (Esignal volume data) to show me whether institutional traders are "with me" or "against me"...I also use these data points to show me when to exit.
I was trained to read the tape using these data elements years ago, and now I train other traders to do the same thing....and that technique is still as effective now as it was then...I know several ways to trade but if I had to choose...clearly this method gives me the best odds of consistent success.
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Old 04-27-2011, 05:17 PM   #11

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Re: Order Flow Advice

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Originally Posted by daVinciLite »
...I could see when buyers really stepped in and drove price higher. Then on the pull back (an entry point) buyers came in at the same level and pushed prices back up....
I really like this statement.
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Old 04-27-2011, 05:26 PM   #12

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Re: Order Flow Advice

Quote:
Originally Posted by steve46 »
Okay well I don't have a l ot of time because I am trading the Globex this evening, First it is the "NYSE" TICK and it represents the number of stocks ticking up minus the number of stocks ticking down on the New York Stock Exchange. based on the readings, a trader can quickly see the intraday direction of the broad market as represented by stocks on the New York Stock Exchange. In addition, skilled traders use the tick as a way to get favorable entry on trades (and for so many other things)...
Volume is what I use to confirm my entries off of the NYSE Tick....once I am in a trade I use the $VOLD and $ADD (Esignal volume data) to show me whether institutional traders are "with me" or "against me"...I also use these data points to show me when to exit.
I was trained to read the tape using these data elements years ago, and now I train other traders to do the same thing....and that technique is still as effective now as it was then...I know several ways to trade but if I had to choose...clearly this method gives me the best odds of consistent success.
Ok Since Im currently interested in Currencies, then tell me if I got the right idea:

The 6E(Euro) goes up if it is stronger then Dollar. So I would actually be looking for the $NYSE Tick to be moving opposite to the 6E? My reasoning behind this is more stocks are trading down which is bad for US, therefore good for Euro.
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Old 04-27-2011, 05:34 PM   #13

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Re: Order Flow Advice

How do I get the NYSE "$TICK" ? I have a subscription with CME. Do I need a subscription with NYSE?
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Old 04-27-2011, 05:55 PM   #14

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Re: Order Flow Advice

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Originally Posted by pbylina »
How do I get the NYSE "$TICK" ? I have a subscription with CME. Do I need a subscription with NYSE?
The "$TICK" is a data element that comes with Esignal charting...I would imagine that just about every professional level charting program has some version of the NYSE tick...Check with your data provider...this has nothing to do with the CME (NYSE stands for New York Stock Exchange)
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Old 04-29-2011, 03:01 PM   #15

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Re: Order Flow Advice

Thanks so much Steve for telling me about Time and Sales trading. Im having great results so far (even though I dont have $TICK yet). Heres my setup. On the left is T&S from 1 lot up. In the middle is the Bids | Asks at price(footprint). On the right is 10 lot and higher. Anyone care to share there setup?
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Order Flow Advice-tape-setup.jpg  
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Old 04-29-2011, 03:03 PM   #16

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Re: Order Flow Advice

Quote:
Originally Posted by steve46 »
The "$TICK" is a data element that comes with Esignal charting...I would imagine that just about every professional level charting program has some version of the NYSE tick...Check with your data provider...this has nothing to do with the CME (NYSE stands for New York Stock Exchange)
This is what MD said,

"There is no symbol for the NYSE Cumulative Tick because ZenFire does not provide data for Indices and Statistics. ZenFire is Futures Data Only."
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