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Domino's Price and order flow trading

  • #421
  • Apr 9, 2010 2:34am Apr 9, 2010 2:34am
Quoting domino
hit rate is not important its not about grinding odds..
i have to disagree with this. not in the general sense, because all we want is to make money. working for a company (fund, bank or broker) is one thing, it does not matter your hit rate, you work out at the end of the year (or quarter) your results besed on P&L. your bonuses are in money, not in hitrate coins. so yes, you're right if talking about professionals...

it is a different story when talking about hitrate on a personal level, talking to retail traders that have their own money on the line. they come into online trading to make a better living for themselves. in this case % of winners matters a lot in relation to a person's psychology, background, upbringing. the need to be right, is important for the majority of people. for some....it matters a lot
The quality of your life is brought about by the quality of your thinking.
  • #422
  • Apr 9, 2010 2:39am Apr 9, 2010 2:39am
Quoting domino
the focus on the pending orders floating above or below the levels that are close together and in high quantity... The noticability and high number of clusters in close proximity will produce the high volume on breakout needed to sustain a movement

.....quoting just because it seems to me that this went unnoticed......
The quality of your life is brought about by the quality of your thinking.
  • #423
  • Apr 9, 2010 2:43am Apr 9, 2010 2:43am
Quoting hornet
Scotty is at it again....It all depends on what live feeds you have. For each of our terminals we are getting charged around 20k a year but we trade bonds (domestic, sovranationals and corporate) and also have live feeds on related futures. Not all terminals are the same since the guy accross the room from me, who trades equities, is not interested in our feeds but has his own necessities. You cannot say that you know a guy or have talked to someone or whatever and that the cost is a quarter of what domino said. It depends on the feeds domino needs,...
At it again? I'm not making any personal attacks, just asking questions man. So if you're paying 20K/year per terminal that breaks down to 1600/month/terminal. This goes right along with what I was saying. I never said I knew it all, just saying what I do know. That's why I asked pointed questions of Domino early in this thread. I was not arguing with him merely because I didn't like what he was saying, but because what he was saying didn't add up with what I've learned. It's nothing personal.
  • #424
  • Apr 9, 2010 2:47am Apr 9, 2010 2:47am
Quoting domino
EXample of good order flow. at SZ RZ..
compressed OF
yes domino, perfect example of how a move down can gain speed. like a snowball turning into an avalanche by picking up more snow on the way down...

but....

you still haven't gone into how to get into the trades. just play the breakout of the high/low and SL other side of previous swing, but then you're showing a line chart, and we know a spike can take you out of all good trades.... also, the entry can be triggered by a spike but on the line chart we might not see it.

the concept is there, it is good and has been working since the beginning of time....but we now need to address those issues that, i assume, are on the mind of the majority of people following this thread.
The quality of your life is brought about by the quality of your thinking.
  • #425
  • Apr 9, 2010 2:48am Apr 9, 2010 2:48am
[quote=Scotty B;3622877]At it again? I'm not making any personal attacks, just asking questions man. So if you're paying 20K/year per terminal that breaks down to 1600/month/terminal.


Hi Scotty B,

So what is 1600 X 7 ?


Regards,

BabeFX
  • #426
  • Apr 9, 2010 2:50am Apr 9, 2010 2:50am
Quoting Mr-Forex
The currency future data are accurate.

The delta bars show the net sum from bid/ask contracts.

But you have to know what is going on behind the scene and how big the demand was to overcame supply.

It is that point where the big money steps in and absorb all selling to push the price.

The only way to "see" it is with market depth + contract flow reading.
Anyone have any experience trading E micro forex futures? If so how's the execution given that the e micro is new on the scene and liquidity might be an issue?
  • #427
  • Apr 9, 2010 2:50am Apr 9, 2010 2:50am
Quoting Scotty B
This goes right along with what I was saying.
it does because those are my needs....it depends on what domino needs are. he might have/need more feeds. the 12.4k for 7 terminals works out to 1.77 per terminal on average, and maybe not all have the same feed...maybe 1 terminal is costing 3.5k a month. there is no fixed number
The quality of your life is brought about by the quality of your thinking.
  • #428
  • Apr 9, 2010 2:54am Apr 9, 2010 2:54am
[quote=BabeFX;3622896]
Quoting Scotty B
At it again? I'm not making any personal attacks, just asking questions man. So if you're paying 20K/year per terminal that breaks down to 1600/month/terminal.


Hi Scotty B,

So what is 1600 X 7 ?


Regards,

BabeFX
Not 12.4, unless you don't mind a $1200 accounting descrepancy. I am thinking along the lines of per terminal. Domino was talking about feeds. My question was asked of Domino BTW, why not let him answer it?
  • #429
  • Apr 9, 2010 3:04am Apr 9, 2010 3:04am
Quoting hornet
yes domino, perfect example of how a move down can gain speed. like a snowball turning into an avalanche by picking up more snow on the way down...

but....

you still haven't gone into how to get into the trades. just play the breakout of the high/low and SL other side of previous swing, but then you're showing a line chart, and we know a spike can take you out of all good trades.... also, the entry can be triggered by a spike but on the line chart we might not see it.

the concept is there, it is good and has been working since the beginning...
also, how are we supposed to be able to tell if the orders are flowing without the data feed?
  • #430
  • Apr 9, 2010 3:14am Apr 9, 2010 3:14am
[quote=Scotty B;3622930]
Quoting BabeFX

Not 12.4, unless you don't mind a $1200 accounting descrepancy. I am thinking along the lines of per terminal. Domino was talking about feeds. My question was asked of Domino BTW, why not let him answer it?

It depends on feed your getting and your needs all the terminals I assumed the lowest you could get was about 1K per terminal I was never quoted 100 for a terminal...here they are all the same setup and they have basically the hedgefund setup .. We get everything but like one thing which is really out there and useless..I think there is one higher priced tier and its like 50-60 bucks more than what I get .. and thats everything bloomberg has to offer. So essentially im setup like hedgefund terminal wise. really too much stuff to name.. I use maybe 1/3 of it...
  • #431
  • Apr 9, 2010 3:16am Apr 9, 2010 3:16am
Quoting rogerdoger
also, how are we supposed to be able to tell if the orders are flowing without the data feed?
well price will generally have moved once the orders come in.. so youll see price move and youll see the numbers at the same time.. generally if you see block buying in price you dont need the DOM or LOB.. look for block selling or buy large gaps and runs in price.
  • #432
  • Apr 9, 2010 3:21am Apr 9, 2010 3:21am
Quoting domino
well price will generally have moved once the orders come in.. so youll see price move and youll see the numbers at the same time.. generally if you see block buying in price you dont need the DOM or LOB.. look for block selling or buy large gaps and runs in price.
thanks for the reply. do you have a link to the data feed you are getting through bloomberg? if it helps significantly to apply this concept, it wouldn't be that bad of a subscription at all
  • #433
  • Apr 9, 2010 3:21am Apr 9, 2010 3:21am
Quoting hornet
yes domino, perfect example of how a move down can gain speed. like a snowball turning into an avalanche by picking up more snow on the way down...

but....

you still haven't gone into how to get into the trades. just play the breakout of the high/low and SL other side of previous swing, but then you're showing a line chart, and we know a spike can take you out of all good trades.... also, the entry can be triggered by a spike but on the line chart we might not see it.

the concept is there, it is good and has been working since the beginning...
the past couple of trades have all been candlebased its easy to work into Id say roll back and look at how I draw low to highs.. The more I trade in here the more you guys will see it.. takes time
  • #434
  • Apr 9, 2010 3:23am Apr 9, 2010 3:23am
Quoting rogerdoger
thanks for the reply. do you have a link to the data feed you are getting through bloomberg? if it helps significantly to apply this concept, it wouldn't be that bad of a subscription at all
you have to call them I dunno anywhere they got it listed.. generally you contact them and talk to a rep who then will figure out what you "need" <- sell you stuff you dont.. and they theyll quote you a price and feed that fits you.
  • #435
  • Apr 9, 2010 3:25am Apr 9, 2010 3:25am
Quoting hornet
i have to disagree with this. not in the general sense, because all we want is to make money. working for a company (fund, bank or broker) is one thing, it does not matter your hit rate, you work out at the end of the year (or quarter) your results besed on P&L. your bonuses are in money, not in hitrate coins. so yes, you're right if talking about professionals...

it is a different story when talking about hitrate on a personal level, talking to retail traders that have their own money on the line. they come into online trading to make a better...
yeah thats how I do it.. we just do PnL/trades.. figure out average profitability of a trade per trader.. so if his setups start to slip or it becomes less profitable.. the profit per trade on average will drop and well catch it MoM

I think retail traders need to know statistics to hold to there systems they feel the need to grind the market rather than just pick the best setups and worry about controling risk and building the trade.. I feel if they focused more on figuring out whats the good trade whats the bad trade and then controling and picking the best entrance.. they would probably be profitable.
  • #436
  • Apr 9, 2010 3:32am Apr 9, 2010 3:32am
Quoting domino
I feel if they focused more on figuring out whats the good trade whats the bad trade and then controling and picking the best entrance.. they would probably be profitable.

and also have a high hitrate, but would not care about it
The quality of your life is brought about by the quality of your thinking.
  • #437
  • Apr 9, 2010 3:32am Apr 9, 2010 3:32am
Quoting Ted1983
Of course.

Is there a particular reason you use the closes (candle bodies) as the break out area? I would have thought most traders would be placing ordes just beyond the highs or lows.

edit: looks like the EJ setup might be triggering.
generally if the wicks are not long the break of the bodies is best ... if the wicks are long its best to break the wick.

EJ needs to push against an area where supply will increase to pushing price down into the orders. There is no real resistance above the 125.20 for a bit..
  • #438
  • Apr 9, 2010 3:38am Apr 9, 2010 3:38am
Quoting hornet
and also have a high hitrate, but would not care about it
pretty much I mean my hit rate is pretty good I believe but I dunno.. I mean in the past couple trades ive posted its been much faster time frame than I normally do.. I just closed this EJ long Im getting ready to post.. and I have a AU long still open.. stop at BE.. if BE's are counted as winners we are like 95% in this thread so far.. So good hitrate is a byproduct of good proper trade picking and good risk:reward is a byproduct of good proper MM and protection strategies. sounds obvious like muscles are a byproduct of performance.. but its the truth
  • #439
  • Apr 9, 2010 3:44am Apr 9, 2010 3:44am
Quoting Scotty B
Why are you using Oanda? If you can afford 12 grand/month just for data you can surely afford to trade interbank lots. Oanda is a bucket shop that pads interbank prices to make a spread, why not just plug into the interbank yourself to gain better pricing? At least a large ECN?
Im doing it pretty much to show trades and track stuff.. I dont trade these time frames in the shop .. I trade higher time frames.. across a wider spread of markets... oanda is not really a bucketshop they are quite a remarkable broker for what they are.. I mean they are minimalistic retail broker.. they are pretty much what you expect of retail.. the small unit makes for precision trading its quite nice. and whoever said that they pretty much automatically will fill you on stuff up to 10M your right they will.. Ive heard theyll go to 13M before it causes problems.
  • #440
  • Apr 9, 2010 3:46am Apr 9, 2010 3:46am
Quoting domino
you have to call them I dunno anywhere they got it listed.. generally you contact them and talk to a rep who then will figure out what you "need" <- sell you stuff you dont.. and they theyll quote you a price and feed that fits you.
thanks for the reply. for this strategy we'd only need the order flow data or would you recommend getting some other stuff as well?
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