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Domino's Price and order flow trading

  • #661
  • Apr 13, 2010 4:49am Apr 13, 2010 4:49am
Quoting AstonDan
How about keeping an eye on EU to the downside?
let the market tell us
The quality of your life is brought about by the quality of your thinking.
  • #662
  • Apr 13, 2010 5:22am Apr 13, 2010 5:22am
Quoting AstonDan
How about keeping an eye on EU to the downside?
Looks like a range for the past 24 hours to me but if I had to choose I would say short as well, isn't there still a gap to fill from Friday's close?

When is the Greece debt auction, maybe that will move something!

Edit: Forget the auction, it's already been and gone!
  • #663
  • Apr 13, 2010 5:28am Apr 13, 2010 5:28am
Quoting pipmutt
Looks like a range for the past 24 hours to me but if I had to choose I would say short as well, isn't there still a gap to fill from Friday's close?
As i was typing my question to Hornet it was breaking the bottom of the channel and yesterday's low. I'm just watching for now...

Sorry for the dark chart!
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  • #664
  • Apr 13, 2010 5:31am Apr 13, 2010 5:31am
Quoting pipmutt
Looks like a range for the past 24 hours to me but if I had to choose I would say short as well, isn't there still a gap to fill from Friday's close?

When is the Greece debt auction, maybe that will move something!

Edit: Forget the auction, it's already been and gone!
supporting orders
Attached Images
  • #665
  • Apr 13, 2010 5:41am Apr 13, 2010 5:41am
Quoting AstonDan
As i was typing my question to Hornet it was breaking the bottom of the channel and yesterday's low. I'm just watching for now...

Sorry for the dark chart!
I'm guessing short if it breaks below that low at around 1.3550, intraday
  • #666
  • Apr 13, 2010 5:45am Apr 13, 2010 5:45am
Quoting trade price
supporting orders
61 of the upmove on your monthly chart, but also 78 of the down move from 1.60, take your pick
  • #667
  • Apr 13, 2010 5:46am Apr 13, 2010 5:46am
Quoting pipmutt
61 of the upmove, but also 78 of the down move, take your pick
recent
  • #668
  • Apr 13, 2010 5:52am Apr 13, 2010 5:52am
Quoting trade price
recent
Any confluence anywhere? What's the next time frame up from monthly, yearly?
  • #669
  • Apr 13, 2010 6:05am Apr 13, 2010 6:05am
Quoting pipmutt
Any confluence anywhere? What's the next time frame up from monthly, yearly?
not need any more.
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  • #670
  • Apr 13, 2010 9:50am Apr 13, 2010 9:50am
Does anybody know if markets have preferred or primary liquidity providers? Do certain firms get rights to initial order placement? Or is market depth a first come first serve thing for everybody? It's funny when we talk about orders and their advantages and disadvantages. Even orders are tricky. I've been experimenting in futures and often times it's hard to get filled with a limit. The market has to tick off your limit price and fill everyone ahead of you first. It's interesting. So from the standpoint of a dealer, it's not about just finding the right prices to place your orders but about getting those orders placed quickly.

I'd be very curious to see all the way up and down the book to see how many prices already have several pending limit contracts ready to go.

From this somewhat new perspective (breaking out of the retail sandbox), I can see and feel why dealing would be really hard. Props to the guys who do it.
  • #671
  • Edited 10:27am Apr 13, 2010 10:10am | Edited 10:27am
Quoting Scotty B
Does anybody know if markets have preferred or primary liquidity providers? Do certain firms get rights to initial order placement? Or is market depth a first come first serve thing for everybody?
With Globex it is first in line, first fill. This provides an incentive for ppl to put their limit in before price goes to an area. It's a competitive marketplace and fills at each level are won by competition amongst the liquidity providers. As you know, when you place the limit order you compete with the other liquidity providers - and they are pretty good at what they do.

You also have occasional iceberg orders where you only see part of it at a given level - a feature for some of the larger traders to hide their true size bid or offered. Globex does have designated market makers on some products, but after trying to find out who they are and what perks the MMs get, I ran into a brick wall. I did read that one perk is that their orders are not offsetable against each other - so the MMs aren't dealing with each other unless they trade in through a non-MM separate account. That info was second hand and a couple years back so take it for what it's worth.

You can read more in the Globex ref guide here: http://www.cmegroup.com/globex/files/GlobexRefGd.pdf

Btw, I'm seeing massive potential order flow building below 1.355 on EU - looks like it's just a matter of time before the volatility party starts.
  • #672
  • Apr 13, 2010 10:13am Apr 13, 2010 10:13am
Quoting Scotty B
Does anybody know if markets have preferred or primary liquidity providers? Do certain firms get rights to initial order placement? Or is market depth a first come first serve thing for everybody? It's funny when we talk about orders and their advantages and disadvantages. Even orders are tricky. I've been experimenting in futures and often times it's hard to get filled with a limit. The market has to tick off your limit price and fill everyone ahead of you first. It's interesting. So from the standpoint of a dealer, it's not about just finding...
yes .market depth is a first come first serve for everyone.its a chasing game.(someone allways will try to be in front of u either in the bid or ask side)
institution have better technology. they have pre set order buttons.called refresh buttons.
its a matter of pressing a button for them.
thats why they are quick(they stay in the both side of market providing liquidity) .
in a matter of a second(less than) u will see they flip the side. or cancel the orders(fake orders).
  • #673
  • Apr 13, 2010 10:26am Apr 13, 2010 10:26am
i'm seriously losing faith in y'all....

like, seriously

markets are just not that hard to understand. it's the people behind them that's the problem!

i, i just can't... *sigh*... *click*

*BANG*

*relief*
Congratulations ScalaFX for coming out of the closet!
  • #674
  • Apr 13, 2010 10:35am Apr 13, 2010 10:35am
This post will be sweet and short to the point. One thing that orderflow can do is give you great entries, but exits are often difficult to project. I use to be a big proponent of fibs because they work. The problem is that I cannot explain why they should work, and I did not want to base my trading on something that I could not explain.

I've been saying around here that guessing comes in after you get an entry and have a stop at BE. Enter via OF, and your target is up to your imagination. You could use OF to exit or let the trade keep going. Anyways, I want to share a simple fib technique that you can at least consider for your targets is you happen to get a good entry.

I know this post is somewhat off topic, I won't post another one like it, this is just for those of you who have some time to test it. Maybe it will help some and maybe not. I would not use this for entry criteria BTW, EVER!

The method is time frame dependent and all you are looking for is consecutive swing points. A swing low to the next swing low fractal, or a swing high to the next swing high fractal. Anchor at the first swing point and pull your fib so your inner 38.2 level catches the 2nd swing point perfectly.

Here is the basic rule, if the 0-100 get's broken before the 2nd swing point level, price will usually go to the outer 138.2 level. Yes, this is totally illogical, but for some reason is works great. I can't explain it, but if I have a logical, safe entry, then I can afford to speculate.

Trading these 'setups' on a stand alone basis will kill you. Use them for potential targets only.

I'm gonna do the unthinkable now and post a couple charts so you can all see what I'm talking about.

Take it or leave it,

Scotty
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  • #675
  • Apr 13, 2010 10:43am Apr 13, 2010 10:43am
Quoting FXEZ
With Globex it is first in line, first fill. This provides an incentive for ppl to put their limit in before price goes to an area. It's a competitive marketplace and fills at each level are won by competition amongst the liquidity providers. As you know, when you place the limit order you compete with the other liquidity providers - and they are pretty good at what they do.

You also have occasional iceberg orders where you only see part of it at a given level - a feature for some of the larger traders to hide their true size bid or offered. Globex...
Ice bergs can't hide very well. You might not be able to see them on the depth screen, but you can surely see them on the tape.
  • #676
  • Apr 13, 2010 10:53am Apr 13, 2010 10:53am
current
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  • #677
  • Apr 13, 2010 11:45am Apr 13, 2010 11:45am
Sorry for getting off your topic Domino,

last post about this.

Here is a fib script so you don't have to mess around with your own.
Attached File(s)
File Type: mq4 Scotty B Fib.mq4   7 KB | 497 downloads
  • #678
  • Apr 13, 2010 11:46am Apr 13, 2010 11:46am
Quoting FXEZ
With Globex it is first in line, first fill. This provides an incentive for ppl to put their limit in before price goes to an area. It's a competitive marketplace and fills at each level are won by competition amongst the liquidity providers. As you know, when you place the limit order you compete with the other liquidity providers - and they are pretty good at what they do.

You also have occasional iceberg orders where you only see part of it at a given level - a feature for some of the larger traders to hide their true size bid or offered....


Daily transaction volume CME/Globex ccy futures: $80 billion

Daily transaction volume fx cash market: $3.9 trillion (not incl. futures)

regards
daytrading
Enter Signature
  • #679
  • Apr 13, 2010 11:52am Apr 13, 2010 11:52am
Quoting daytrading
Daily transaction volume CME/Globex ccy futures: $80 billion

Daily transaction volume fx cash market: $3.9 trillion (not incl. futures)

regards
daytrading
Yes the spot market volume dwarfs fx futures, but are you implying that futures data is not useful?
  • #680
  • Apr 13, 2010 11:59am Apr 13, 2010 11:59am
Is there any data about how much of that 3.9 trillion is commercial and how much is purely speculative?
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