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pbylina

Order Flow Advice

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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.

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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?

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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

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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.

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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

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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.

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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

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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

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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.

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