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  • #39,441
  • Oct 15, 2008 12:19pm Oct 15, 2008 12:19pm
Some good traders here today looking to place blame on "others" for price action. Markets change, traders adapt. Or else.
  • #39,442
  • Oct 15, 2008 12:19pm Oct 15, 2008 12:19pm
Quoting mikkom
If you want to see how to spot a big buyer, see the current EURUSD 1 min chart from 18:45 (gmt+1) to now (19:00). Totally straight flat bottom at 1.525. That's what iceberg order looks like.

edit: pic, see the yellow line

You are making NO SENSE AT ALL! What picture? What flat bottom? 1.525...???? (what currency IS THIS, ANYWAY?) And "iceberg order"?....aw, come ON now! Be specific.
  • #39,443
  • Oct 15, 2008 12:21pm Oct 15, 2008 12:21pm
Quoting traderathome
You are making NO SENSE AT ALL! What picture? What flat bottom? 1.525...???? (what currency IS THIS, ANYWAY?) And "iceberg order"?....aw, come ON now! Be specific.
No need to get aggressive, it was a typo, I meant 1.3525. Loot at the yellow line.
  • #39,444
  • Oct 15, 2008 12:24pm Oct 15, 2008 12:24pm
Quoting SunTrader
Some good traders here today looking to place blame on "others" for price action. Markets change, traders adapt. Or else.
i believe you are reffering to me hehe. honestly im not looking to point the finger anywhere im just looking for an explanation to why markets are so choppy....whether price action goes up or down i can trade that no problem if its logical.

if by adaptation you mean stay out of a trade at times such as this one...then i need to adapt some more haha
Different opinions highly valued, ignorant to slander.
  • #39,445
  • Oct 15, 2008 12:25pm Oct 15, 2008 12:25pm
Quoting mikkom
No need to get aggressive, it was a typo, I meant 1.3525. Loot at the yellow line.

Ok, I'll bite...... What in the dickens is an "iceberg order", and please fully explain. And, how do you know the entity is buying instead of selling?
  • #39,446
  • Oct 15, 2008 12:29pm Oct 15, 2008 12:29pm
Quoting traderathome
Ok, I'll bite...... What in the dickens is an "iceberg order", and please fully explain. And, how do you know the entity is buying instead of selling?
I'm not fishing here so try google. There is a reason for a price to have a totally to the pip straight bottom for 15 minutes and that is that someone is buying all the available volume at that level.
  • #39,447
  • Oct 15, 2008 12:32pm Oct 15, 2008 12:32pm
Quoting TradeWell
Well it's all semantics. The point is that we cannot establish any facts, only present ideas, hypotheses, theories, blab etc...

And, it is in the presentation of ideas, no matter how far-fetched, that keeps our minds fresh and thinking. To digress, this is where many scientists have fault. They resist accepting new ideas etc. because they disrupt their comfort zone of what is already accepted. On this forum, we try to stay on the cutting edge by present each other with concepts, which may or may not be useful. Without this exchange, we limit our ability to grow our strategies. Even if only 1 out of 100 comments are useful, we have succeeded.

And here's another definition, which I myself would have used instead of "hypothesis" - another example of how humans think differently, using different words to mean the same thing:

Theory: a proposed explanation whose status is still conjectural, in contrast to well-established propositions that are regarded as reporting matters of actual fact

The point I was trying to make is leave your gut feeling out of a post if you can’t explain why.

The English language when used properly is a wonderful way to convey a thought.
  • #39,448
  • Oct 15, 2008 12:32pm Oct 15, 2008 12:32pm
Quoting traderathome
Ok, I'll bite...... What in the dickens is an "iceberg order", and please fully explain. And, how do you know the entity is buying instead of selling?
Mikkom was right, you know those PA's when you mostly trade 1M chart. They get formed when there are huge buy or sell orders setup to a specific price.
  • #39,449
  • Oct 15, 2008 12:33pm Oct 15, 2008 12:33pm
Quoting SunTrader
Some good traders here today looking to place blame on "others" for price action. Markets change, traders adapt. Or else.

Well said ST.

Good to have you back by the way.

Trade well.
  • #39,450
  • Oct 15, 2008 12:41pm Oct 15, 2008 12:41pm
Quoting traderathome
What in the dickens is an "iceberg order", and please fully explain.
Iceberg Order
A large single order that has been divided into smaller lots, usually by the use of an automated program, for the purpose of hiding the actual order quantity. When large participants, such as institutional investors, need to buy and sell large amounts of securities for their portfolios, they can divide their large orders into smaller parts so that the public sees only a small portion of the order at a time--just as the 'tip of the iceberg' is the only visible portion of a huge mass of ice. By hiding its large size, the iceberg order reduces the price movements caused by substantial changes in a stock's supply and demand.
Source: http://www.investopedia.com/terms/i/icebergorder.asp

Here an example at Interactive Brokers:
http://www.interactivebrokers.com/en...?ib_entity=llc
  • #39,451
  • Oct 15, 2008 12:43pm Oct 15, 2008 12:43pm
you guys c a retrace back to 50 or do u c it going south
  • #39,452
  • Oct 15, 2008 12:43pm Oct 15, 2008 12:43pm
mikkom
regarding this "iceberg order"...how do we know which currency their buying..the euro or the dollar?
Different opinions highly valued, ignorant to slander.
  • #39,453
  • Oct 15, 2008 12:48pm Oct 15, 2008 12:48pm
Quoting psiholog
mikkom
regarding this "iceberg order"...how do we know which currency their buying..the euro or the dollar?
Iceberg orders are no different from normal orders so as this is EURUSD, they are buying eur and selling dollars in totally the same way as I or you are when you are trading EURUSD. Only difference is that the order is divided into smaller lots. Icebergs are nothing special, it's just a one big order divided into smaller, probably still huge orders.

To keep the price above a level for 15 minutes the total order size must have been huge.
  • #39,454
  • Oct 15, 2008 12:49pm Oct 15, 2008 12:49pm
Quoting Cary_FX
Thanks Cobra for the indicator, I too took those trades and finally got into some positive!
I’m happy that it works for you and you got your pips.
I’m trading divergence for longer term (for me every TF more than 5M is longggg term, haha) on 30M and 1H beside of my scalping and I’m doing well on it. That is a trading style that doesn’t fit to everybody but I just posted it for someone can try it, that’s why we are here.

BTW: PSI, do you ever sleep? you are more than 20 hours here I guess.
  • #39,455
  • Oct 15, 2008 12:50pm Oct 15, 2008 12:50pm
Quoting SunTrader
Some good traders here today looking to place blame on "others" for price action. Markets change, traders adapt. Or else.
However... this month won't go down as one of the easy ones... I promise.

I'm surviving... up a massive 40 PIPS this week and 175 on the month.

My worst month in a long time.

I've got to blame someone... I'm an American... it's not my fault.

m
  • #39,456
  • Oct 15, 2008 12:50pm Oct 15, 2008 12:50pm
Quoting mikkom
Iceberg orders are no different from normal orders so as this is EURUSD, they are buying eur and selling dollars in totally the same way as I or you are when you are trading EURUSD. Only difference is that the order is divided into smaller lots. Icebergs are nothing special, it's just a one big order divided into smaller, probably still huge orders.

To keep the price above a level for 15 minutes the total order size must have been huge.
hmm i dont think i asked the right question.
let me ask this instead...does a big move follow usually afterwards?
Different opinions highly valued, ignorant to slander.
  • #39,457
  • Oct 15, 2008 12:50pm Oct 15, 2008 12:50pm
Quoting acumen
This is has been one ugly day.



Headed downstairs to kick one of the dogs.

m

  • #39,458
  • Oct 15, 2008 12:51pm Oct 15, 2008 12:51pm
If they were selling euro (buying dollar) the flat line would be on top as the orders are set to be opened at the same price one after the other... the price fluctuates and the orders go on again and again until the whole package is out.

Every time they do so, the price then moves in the direction of the order, in this case, up. Thus, buying euros.
  • #39,459
  • Oct 15, 2008 12:51pm Oct 15, 2008 12:51pm
Piecing in EURO AUD longs here, 1.3500 and .6775...

downside risk remains, but worth a small wager for my risk tolerance.
  • #39,460
  • Oct 15, 2008 12:53pm Oct 15, 2008 12:53pm
Quoting doblece
Iceberg Order
A large single order that has been divided into smaller lots, usually by the use of an automated program, for the purpose of hiding the actual order quantity. When large participants, such as institutional investors, need to buy and sell large amounts of securities for their portfolios, they can divide their large orders into smaller parts so that the public sees only a small portion of the order at a time--just as the 'tip of the iceberg' is the only visible portion of a huge mass of ice. By hiding its large size, the iceberg order reduces the price movements caused by substantial changes in a stock's supply and demand.
Source: http://www.investopedia.com/terms/i/icebergorder.asp

Here an example at Interactive Brokers:
http://www.interactivebrokers.com/en...?ib_entity=llc
I would only add that the use of the term is really more applicable to exchange trading since it is very hard for the small trader to know what the big boys are doing in forex.

It is really the big boys trying to hide their orders from other big boys, not us. Unless you guys think you can fade a $100mil bid/offer hidden or not.

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