Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

pbylina

Order Flow Advice

Recommended Posts

Today I just saw the market going high, while two big lot orders appeared. First a 1000+ short, so I went short too. Then one tick higher, another big sell of 800+, so it gave me the confidence that price was about to fall, which happened very quickly with more sellers adding to the fall.

 

My targets are 6 and 8 ticks, but I decided to take 5 ticks in the first one because I saw big buyers entering and then I saw a lot of sellers being absorbed by the passive buyers so I decided to get out before the price started to go up, which actually happened later. That was all for the day.

190511.thumb.png.9b6131b1a082935b8ba9ea4d7f9d710b.png

Share this post


Link to post
Share on other sites
I attach a secuence of charts showing what I did today. For my style of being a contrarian, the bundled times and sales works fine. Even I was able to watch the big buyers continuing the trend.

 

I missed some trades there because I wanted price to make the last push to hit a limit order and that left me out ot the trade.

 

The last trade I did not hesitated and entered at the same price (market) that the big seller of 1000s did. Unfortunately, hesitated very soon :doh: and lost one tick. It actually worked.

 

Take care everybody

 

I've been looking for such an indicator for quite some time. I assume it bundles trades based on milliseconds, since I see a lot of prints that have the same second-timestamp?

 

Anyways, where can I find this?

Share this post


Link to post
Share on other sites
I've been looking for such an indicator for quite some time. I assume it bundles trades based on milliseconds, since I see a lot of prints that have the same second-timestamp?

 

Anyways, where can I find this?

 

i'd like to have a look at it too, if possible?

cheers

Share this post


Link to post
Share on other sites
Steve:

 

I guess you are correct.... I am a total stranger with very few post claiming that going to some webpage your trading could change dramatically. I guess I am a extremelly naive person....

 

Well, let me introduce myself and tell you and others reading this, why I did this:

 

My name is Gerardo Cabrera, I am 50, software designer by accident, mechanical engineer as profession. I live in a small country named El Salvador, Central America, that fits 500 times in the US. My first tongue is Spanish so please excuse my spelling or redaction.

 

I started watching the markets after a scammer got me in love with Options in 2003, just to loose some money. And some many more scammers got in my way to rip some money and make me donate some more to the market.

 

I am a very persistent person and very dedicated to perform well at what I do. So I kept making indicators, some people approached me to program some simple stuff. but nothing worked with indicators.

 

Until I discover the times and sales..... unfortunatelly, under Interactive Brokers data feed, you know what I mean.... super bundled trades. Took a lot of time to discover that.

 

Well, I have a blog.... Trader Gerry where I posted my trades. Some of them I have posted as a blog here too, you can check that.

 

You can see my charts and notice I trade live, if you know about the difference in the DOM color..... I guess you can not show the Dom in grey color if you are trading sim, correct me if I am wrong. And that is tha case of the charts I took from the video of Joel Parker Video, they show grey color in the DOM... I guess they are live trades.

 

Well, the dots and numbers you see in the chart are the big lot trades that are being taken. I asked for that indicator to a programmer at Integrity Traders(Dan), and felt so grateful with the programmer that I decided to tell about it to everyone I know, including in the forums. Just wanted to help Dan sell more indicators since I think he is very talented guy programming and such a nice person.

 

With Joel Parker of price action room, I took a 10 day workshop in November last year, about tape reading and actually learned a lot and have continued learning from my observations of the times and sales, I have to admit it is not easy... I guess I never told it was easy.... and Joel is going to tell you that it is not easy too. Much depends on yourself too. At that time he showed us this bundled times and sales indicator and said it being develeped by Pete, one of his students that happens to be a programmer. It was supposed to be ready by January 2011, but it is going out until this month.

 

Again, I feel so grateful with Joel and Pete, that I decided to tell everyone about it. Naive???? I guess so, at least I should understand that in this business, there are more scammers than honest people. What is worst, I don´t have the indicator in my charts yet....but I saw it working live and made the comparisons with my big lots dot indicator and understood that I was seing big lots being hit as limit orders in my charts, not the actual big lot market order that hit that limit big order.

 

I got interested in tape reading after reading No B.S.Daytrading, which seems to be a very honest and cheap book too. I defended that book in various forums and some people send me messages asking if I could send them the book and video as a violation of the author copyright .... and guess what I said: I can´t. It is only $40, please buy the book.....

 

I can´t say I understand everthing that happens viewing the tape, but It is my expectancy to combine this new presentation of it, with my previous experience to help me start taking off from a point of actually 'keeping my money' to 'making money consistently', as I have always expected from this businnes of trading.

 

Best regards and apologies for taking so much of your time.

 

Gerardo

 

 

I agree with a couple of these items. NO BS Day Trading is an informative, factual and cheap book on DOM scalping. I can assume he is also referring to the JIgsaw DOM. It is simply a new charting DOM which to be honest is the cheapest and most informative thing on the market. Better than X-Trader for an absolute fraction of the price.

 

Believe me or not. OP at least you tried giving some good advice. :2c:

 

Put these together with a couple of years starting at the tick data and you have a shot at making some good money.

Share this post


Link to post
Share on other sites

Okay. Still trying to master the D&S before taking on the other tools. The tapes look so fast I still can't follow

 

No I just use reconstructed tape and summary tape.

 

that is enough for me

Share this post


Link to post
Share on other sites
Okay. Still trying to master the D&S before taking on the other tools. The tapes look so fast I still can't follow

 

filter it for lot size. if you are trading emini s&p, you will never make much sense of the raw data. other than the above ask or below bid trades.

Share this post


Link to post
Share on other sites
Okay. Still trying to master the D&S before taking on the other tools. The tapes look so fast I still can't follow

 

I agree with filtering the tape.

 

I use two reconstructed tapes in ES

 

One showing all trades.

 

Ahother showing trades above 300 contracts, with block trades above 500. At least you should use this one.

 

If you want master DS, I think it would be helpful to use summary tape, not for reading it but for getting the alerts it has.. iceberg, Price Delta Divergence and Large Quantity.

 

Seasons Greetings

Share this post


Link to post
Share on other sites

Problem is, there is so much on the DS alone. For instance, you can see huge lots even before they get hit. Agree less clear with icebergs but still spot-able.

What else do trade out of the inescapable ES ?

 

Buenas fiestas !

 

 

I agree with filtering the tape.

 

I use two reconstructed tapes in ES

 

One showing all trades.

 

Ahother showing trades above 300 contracts, with block trades above 500. At least you should use this one.

 

If you want master DS, I think it would be helpful to use summary tape, not for reading it but for getting the alerts it has.. iceberg, Price Delta Divergence and Large Quantity.

 

Seasons Greetings

Share this post


Link to post
Share on other sites

Anyone experienced footprint and orderflow discussion in bigmiketrading elite forum ?

That's the most activated forum about footprint and orderflow.

but need 100$ to be elite member.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Topics

  • Posts

    • Date: 29th March 2024. GBPUSD Analysis: The Pound Trades Higher But For How Long? The global Stocks Markets are closed due to Easter Friday (Good Friday). The NASDAQ continued to follow the sideways trend while other indices again rose. The SNP500 reaches an all-time high, but the NASDAQ remains under pressure from Tesla, Meta and Apple. The Euro continues to trade lower against all major currencies including the US Dollar, Euro and Japanese Yen. The British Pound is the best performing currency during this morning’s Asian session. However, investors are largely fixing their attention on this afternoon’s Core PCE Price Index. GBPUSD – The Pound Trades Higher but For How Long? The GBPUSD is slightly higher than the day’s open and is primary due to the Pound’s strong performance. At the moment, the British Pound is increasing in value against all major currencies. However, the US Dollar Index is also trading 0.10% higher and for this reason there is a slight conflict here. If investors wish to avoid this conflict, the EURUSD is a better option. This is because, the Euro depreciating against the whole currency market avoiding the “tug-of-war” scenario. The GBPUSD is trading slightly lower than the 2-month’s average price and is trading at 49.10 on the RSI. For this reason, the price of the exchange is at a “neutral” level and is signalling neither a buy nor a sell. The day’s price action and future signals are possibly likely to be triggered by this afternoon’s Core PCE Price Index. Analysts expect the Core PCE Price Index to read 0.3% which is slightly lower than the previous month but will result in the annual figure remaining at 2.85%. The PCE rate is different to the inflation rate and the Fed aims for a rate between 1.5% to 2.00%. Therefore, even if the annual rate remains at 2.85%, as analysts expect, it would be too high for the Fed. If the rate increases, even if only slightly, the US Dollar can again renew bullish momentum and the stock market can come under pressure. This includes the SNP500. Investors are focused on the publication of data on the UK’s gross domestic product (GDP) for the last quarter of 2023: the quarterly figures decreased by 0.3%, and 0.2% over the past 12-months. This confirms the state of a shallow recession and the need for stimulation. The data, combined with a cooling labor market and a steady decline in inflation, increase the likelihood that the Bank of England will soon begin interest rate cuts. In the latest meeting the Bank of England representatives did not see any members vote for a hike. USA500 – The SNP500 Rises to New Highs, But Cannot Hold Onto Gains! The price of the SNP500 rises to an all-time high, before correcting 0.33% and ending the day slightly lower than the open price. Nonetheless, the index performs better than the NASDAQ which came under pressure from Tesla, Meta and Apple which hold a higher weight compared to the SNP500. For the SNP500, these 3 stocks hold a weight of 9.25%, whereas the 3 stocks make up 14.63% of the NASDAQ. The SNP500 is also supported by ExxonMobil’s gains due to higher energy prices. The market will remain closed on Friday due to Easter. However, the market will reopen on Monday for the US and investors can expect high volatility. Investors will also need to take into consideration how the PCE Price Index and the changed value of the US Dollar is likely to affect the stock market next week. Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HFM Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Michalis Efthymiou Market Analyst HFMarkets Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
    • MT4 is good and will be good until their parent company keep updating the software, later mt4 users will have to switch to mt5.
    • $SOUN SoundHound AI stock at 5.91 support area , see https://stockconsultant.com/?SOUN
    • $ELEV Elevation Oncology stock bull flag breakout watch , see https://stockconsultant.com/?ELEV
    • $AVDX AvidXchange stock narrow range breakout watch above 13.32 , see https://stockconsultant.com/?AVDX
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.