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  • #129,901
  • Aug 11, 2009 12:10am Aug 11, 2009 12:10am
Do you mean how useful the depth of market view would be to scalp S & R lines?

Quoting toshi
I'm not sure I understand. What do you mean ? Or moreover, how do you mean "the potential of these areas" ?

(I'm kinda of a dumb ass.....sorry)
Thank you Crucial Point, Bleek, Trizzle, Darkstar
  • #129,902
  • Aug 11, 2009 12:11am Aug 11, 2009 12:11am
Quoting The Fool
Ferrari, get yourself a demo account at one of the popular futures brokers & you can see some depth-of-market & real volume data, too, just like daddymac toshi. And its free! Delay is only a few seconds, good enough for scalping.
Can anyone recommend a broker with a free feed, and preferably no software download?
  • #129,903
  • Aug 11, 2009 12:12am Aug 11, 2009 12:12am
Quoting chngster
Do you mean how useful the depth of market view would be to scalp S & R lines?
Correctamundo
  • #129,904
  • Aug 11, 2009 12:12am Aug 11, 2009 12:12am
Would be a treat
  • #129,905
  • Aug 11, 2009 12:13am Aug 11, 2009 12:13am
Ferrari, that's my style too, I'd be very keen to know how to use DOM to improve my scalping game. Any recommended brokers pls let us know.

Quoting Ferrari
Correctamundo
Thank you Crucial Point, Bleek, Trizzle, Darkstar
  • #129,906
  • Aug 11, 2009 12:17am Aug 11, 2009 12:17am
Quoting Ferrari
I mean take a technical support and resistance level (price based)
and look to see the order flow around those levels, I'll send you a pic if your still unsure
Well, if I understand you, well then heck yea. We do that all day long.

50's and 100's. Big handles. Major fibs, Don't forget pivots and of course, S/R ranges that provide
a pocket of price supports and resistances sometimes only a few pips wide,
I like those better. Sometimes it's static for the entire session, sometimes the range is dynamic
and so it moves a little and the trick is to feel the shift when it happens.
You see the tests and the rejections and the break outs, along with how much flow
the move has behind it, all relative to the session, time of day, is news coming, other factors, etc.

The orderbook is helpful in that way, yes I would say.
  • #129,907
  • Aug 11, 2009 12:21am Aug 11, 2009 12:21am
Quoting toshi
Well, if I understand you, well then heck yea. We do that all day long.

50's and 100's. Big handles. Major fibs. and of course, S/R ranges that
provide
a pocket of price supports and resistances sometimes only a few pips wide,
I like those better. Sometimes it's static for the entire session, sometimes the range is dynamic
and so it moves a little and the trick is to feel the shift when it happens.

The orderbook is helpful in that way, yes I would say.
Yes this accurately discribes the technical tools I utilise, although #1 on my list is s&r, my understanding of price and how the market operates. Ok I'll try to get a feed asp, and try to mesh that with my understanding of price. If it does work together, then it would reduce the risk on your trades a great deal overall, because you know there is action at your levels to get a bounce and reduce your risk accordingly.
  • #129,908
  • Aug 11, 2009 12:26am Aug 11, 2009 12:26am
Quoting Ferrari
Yes this accurately discribes the technical tools I utilise, although #1 on my list is s&r, my understanding of price and how the market operates. Ok I'll try to get a feed asp, and try to mesh that with my understanding of price. If it does work together, then it would reduce the risk on your trades a great deal overall, because you know there is action at your levels to get a bounce and reduce your risk accordingly.

okay. One more thing then. Lots of screen time. Got to get to know the market your trading.
When you introduce a new way of looking at something to your thinking organs,
you need to give them time to adjust to the new prescription.
  • #129,909
  • Aug 11, 2009 12:29am Aug 11, 2009 12:29am
Quoting toshi
okay. One more thing then. Lots of screen time. Got to get to know the market your trading.
When you introduce a new way of looking at something to your thinking organs,
you need to give them time to adjust to the new prescription.
Thanks for the advice. All I do currently is look for where the orders are in the market using my understanding of price, so I can filter that into my parameters for trading. Your using the emini euro fx september E7U9? I'm still looking for a broker...
  • #129,910
  • Aug 11, 2009 12:33am Aug 11, 2009 12:33am
Quoting Ferrari
Thanks for the advice. Your using the emini euro fx september E7U9?

Ummm, sometimes. the ECU9 is better (1 pip) where the E7 can be 2 or 3 wide.

62k vs 125k lot size is the issue. I actually use orders in the mini to offset pieces of EC contracts
because they are fully fungible for margin calculation @ CME and in a thin market,
you can actually bid the bid and offer the offer in E7 and SOMETIMES get the advantage, not always.

Anyway, use EC (full contract) that's where the volume is.

However, might be an interesting study to see what the vols are like on E7 at turning points,
since these are typically small orders from small specs. Thanks for the idea...
  • #129,911
  • Edited 1:21am Aug 11, 2009 12:42am | Edited 1:21am
I'm demoing with Dukascopy's Market Depth.

What confuses me is that the market depth on the bid side is consistently larger than the ask side.....regardless of whether the price is going up or down!! Am I retarded in reading this wrong?

Update: downloading Open ECRY from AMP Global.
Attached Image (click to enlarge)
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Thank you Crucial Point, Bleek, Trizzle, Darkstar
  • #129,912
  • Aug 11, 2009 12:45am Aug 11, 2009 12:45am
Quoting chngster
I'm demoing with Dukascopy's Market Depth.

What confuses me is that the market depth on the bid side is consistently larger than the ask side.....regardless of whether the price is going up or down!! Am I retarded in reading this wrong?
I think your gonna need the futures level 2 data, trying to find a feed, struggling though
  • #129,913
  • Aug 11, 2009 12:51am Aug 11, 2009 12:51am
Quoting Ferrari
I think your gonna need the futures level 2 data, trying to find a feed, struggling though
Ferrari, try Global Futures, or Amp, or Mirus. You will have to learn to use a new platform, TT-Trader or NinjaTrader or GS-Trader. Demos are usually for 30 days, but they will renew them for you, and they will also call and/or email you, "When is you gonna open an account, buddy?" - like that. If you have enough dough trading futures is a better way to go, anyway.... Good Luck!
"If The Fool persists in his Folly he will become wise." - William Blake
  • #129,914
  • Edited 1:53am Aug 11, 2009 12:53am | Edited 1:53am
Quoting The Fool
Ferrari, try Global Futures, or Amp, or Mirus. You will have to learn to use a new platform, TT-Trader or NinjaTrader or GS-Trader. Demos are usually for 30 days, but they will renew them for you, and they will also call and/or email you, "When is you gonna open an account, buddy?" - like that. If you have enough dough trading futures is a better way to go, anyway.... Good Luck!
Sweet, I'll look into those brokers, thanks
  • #129,915
  • Aug 11, 2009 12:55am Aug 11, 2009 12:55am
Quoting chngster
I'm demoing with Dukascopy's Market Depth.

What confuses me is that the market depth on the bid side is consistently larger than the ask side.....regardless of whether the price is going up or down!! Am I retarded in reading this wrong?

You are not retarded, unless you belive what you're seeing is truly representative of anything real....

Dookie is a broker, a swiss broker at that. They control the vertical and the horizontal.
You'll see what they want you to see from their liquidity providers.
Not just with a demo. They recently started taking 10K USD accounts.
Much less than before and are becoming more like forex street pushers as time goes on.

If transaction cost is an issue, they can be somewhat helpful in that regard,
if you have the trade volume to support the lowest comm rates offered.

But, remember: Unless you put a 250K - 500K cash in a third party bank and trade thru them with a bank guarantee,
(best way to deal with dookie) they will see you as food and try to eat your account for dinner.
  • #129,916
  • Aug 11, 2009 1:33am Aug 11, 2009 1:33am
bouncing off pivot?
  • #129,917
  • Aug 11, 2009 1:34am Aug 11, 2009 1:34am
Second assault on the DP meeting stiff resistance....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #129,918
  • Aug 11, 2009 1:36am Aug 11, 2009 1:36am
breaking 1.4148.... hope it breaks thru 1.4150 and go up high
  • #129,919
  • Aug 11, 2009 1:37am Aug 11, 2009 1:37am
Quoting 2+2=4ex
I'm not asking to make a profit on the swap. But why isn't it even? Why is it a loss for the trader? I would think it should be even. In other words no money won or lost if the hedged positions are equal and opposite.
Swap is just an interest paid/received for lending the position overnight (leverage).
You can get positive or negative interest depending on your position and pairs interest rates differentials.

The broker will add a small fee to the swap, making what you call "a loss for the trader". It's the same as adding the spread in trading, it's the house advantage.

Capital have a cost, and as hard as some central bankers would have us to believe, money is NOT free!!!
Getting it right is NOT as important as not getting it wrong.
  • #129,920
  • Aug 11, 2009 1:42am Aug 11, 2009 1:42am
short at 1.4150..sl at 1.4170..tp at 1.4090..

it is risky but i think first it go down then rebound back to 1.4250 thats why i enter with tight stop loss..
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