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  • #417,201
  • Apr 3, 2011 7:00pm Apr 3, 2011 7:00pm
The Last Candle
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The Thief of Wall Street
  • #417,202
  • Apr 3, 2011 7:03pm Apr 3, 2011 7:03pm
Quoting malcolmb14
Buying dips maybe the best option till 1.4060 is taken out.
I have a microstructure question for you. Say the market is 40600 - 40605 on an ECN, even sized, say at 15MM.

Then, say the bid stays firm at 600, and a series of 10 offers arrive with no bids, oscillating between 603 to 610 in smaller showing sizes. This goes on, and then the bid falls to, say, 595 at 20MM.

I would conclude from this that there was substantial bid size in the system (more than just the ECN's contracted liquidity being shown) and it was being chewed on by the offers until all taken.

Would you have a different view, assuming you could understand my description?
  • #417,203
  • Apr 3, 2011 7:05pm Apr 3, 2011 7:05pm
Quoting malcolmb14
Just wondering why you sold euro and why you are so happy about it

was it the fact that we ended at high of day on friday that made you so bearish ? lol ....
I haven't hit the short button yet but when I do I expect it to be on a day when it closes near its high since more times than not that is what happens when a reversal takes place.
  • #417,204
  • Apr 3, 2011 7:05pm Apr 3, 2011 7:05pm
Quoting malcolmb14
Just wondering why you sold euro and why you are so happy about it

was it the fact that we ended at high of day on friday that made you so bearish ? lol ....

I often wonder why so many lose so much money in this game ... but this post explains why.

I wish you luck with the trade...but at the moment everything from 15 min chart all the way to weekly is pointing to higher prices this week. I hope your risk is well managed.
well, i agree with you alot lose money, infact i dont wish to see more ppl entering this market, they are losing money. usually i discourage my frds to enter fx unless they strongly wants to.

i apply a basket hedging strategy with diff trade sizes spread across 5 majors and across diff price zones. so at times, i'm short and at times i'm long, so most of the time i dont bother posting, as it is hard for me to explain , mostly because my formula n algo tells me to long a certain size, then i long, if it tells me to short a certain size then i short.

most of my trades has no stop, but some do. Unless i manually interrupt by cutting or adding position.

so far i'm safe, up 20% last week. thx for ur concern.
  • #417,205
  • Apr 3, 2011 7:09pm Apr 3, 2011 7:09pm
Quoting malcolmb14
there is a large sell zone above us at 1.4480. My bet is that this gets hit before there is any significant signs of a retrace.

Buying dips maybe the best option till 1.4060 is taken out.
hmm, yep i sort of agree. will have to see, still v hard to say tho...
  • #417,206
  • Apr 3, 2011 7:13pm Apr 3, 2011 7:13pm
Quoting OldQuant
Anyway, this scalp application is behaving itself now, and actually making a little money (about 1.5 pips per trade after commish, which is just about what I expected with limit orders into the bid and offer pools, and flipping back to following when a market excursion is detected (a break even proposition).

That is what I really want this for:...
I am assuming you are doing rather quick in and out thing for a pip or two's gain. Do you enter trade based on price action, trend, or any other critiria you wouldn't mind disclosing?

Have you tried MB trading's pay for limit orders? Their connection suck big time, but during most of the trading session, you can avoid the commision plus a little bonus for your style of scalping.
  • #417,207
  • Apr 3, 2011 7:16pm Apr 3, 2011 7:16pm
nice .. you will be a billionaire in no time with 20 % a week.

I have buddies that do this make 20% one week lose 40% the next lol ....I always tell them money management is key in this game. You do not have to be right all the time if your risk management is good.





Quoting Clairvoyant
well, i agree with you alot lose money, infact i dont wish to see more ppl entering this market, they are losing money. usually i discourage my frds to enter fx unless they strongly wants to.

i apply a basket hedging strategy with diff trade sizes spread across 5 majors and across diff price zones. so at times, i'm short and at times i'm long, so most of the time i dont bother posting, as it is hard for me to explain , mostly because my formula n algo tells me to long a certain size, then i long, if it tells me to short a certain size then i...
Blogging daily now at www.volume.zone
  • #417,208
  • Apr 3, 2011 7:16pm Apr 3, 2011 7:16pm
kaboom



just me - didn't mean to scare you
  • #417,209
  • Apr 3, 2011 7:18pm Apr 3, 2011 7:18pm
Quoting OldQuant
I have a microstructure question for you. Say the market is 40600 - 40605 on an ECN, even sized, say at 15MM.

Then, say the bid stays firm at 600, and a series of 10 offers arrive with no bids, oscillating between 603 to 610 in smaller showing sizes. This goes on, and then the bid falls to, say, 595 at 20MM.

I would conclude from this that there was substantial bid size in the system (more than just the ECN's contracted liquidity being shown) and it was being chewed on by the offers until all taken.

Would you have a different view, assuming...
i dont quite understand the third line.

But it simply means someone out there regardless firm or individual hit the bid at quite a size to shift it downwards. and the offer will follow
  • #417,210
  • Apr 3, 2011 7:18pm Apr 3, 2011 7:18pm
will get banned soon anyway - and you will not need put up with me any longer


awh well traders - just wanted to say it was good knowing you but l would be lying


the market - the whole market is mine because l can read it and trade it with ease
  • #417,211
  • Apr 3, 2011 7:21pm Apr 3, 2011 7:21pm
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cough.... sorry sometimes l cough for no reason
  • #417,212
  • Apr 3, 2011 7:22pm Apr 3, 2011 7:22pm
Wow what a pop...

Quoting Clairvoyant
juz shorted eur @ 4220. Gd luck peeps
I don't trust any move - when you have profit...take it.
  • #417,213
  • Apr 3, 2011 7:22pm Apr 3, 2011 7:22pm
Quoting neomn
I am assuming you are doing rather quick in and out thing for a pip or two's gain. Do you enter trade based on price action, trend, or any other critiria you wouldn't mind disclosing?

Have you tried MB trading's pay for limit orders? Their connection suck big time, but during most of the trading session, you can avoid the commision plus a little bonus for your style of scalping.
i guess he was figuring out something tt got to do with tick movement... no idea. but i played around with tt stuff some time back, calculated some odds.

and odds of winning is damn high but in the end you still lose, unless u have awesome spread, which most ppl dont...
  • #417,214
  • Apr 3, 2011 7:22pm Apr 3, 2011 7:22pm
To bad Red .... i will miss the entertainment ...lol

Quoting redsword11
will get banned soon anyway - and you will not need put up with me any longer


awh well traders - just wanted to say it was good knowing you but l would be lying


the market - the whole market is mine because l can read it and trade it with ease
Blogging daily now at www.volume.zone
  • #417,215
  • Apr 3, 2011 7:24pm Apr 3, 2011 7:24pm
will today be the day of the breakout?
  • #417,216
  • Apr 3, 2011 7:25pm Apr 3, 2011 7:25pm
Quoting malcolmb14
To bad Red .... i will miss the entertainment ...lol

me to M14


awh well, we can't have it all - l lose again
  • #417,217
  • Apr 3, 2011 7:25pm Apr 3, 2011 7:25pm
Quoting Faller
Wow what a pop...
ya, i manually cut @ 4230. was a gd cut i guess...

my basket now is very heavily tilted towards long risk currencies and short usd jpy... i wanna shift the ration, but i dont know when i'll do tt... will have to see how it goes... might try to enter some shorts later to reduce the ratio...
  • #417,218
  • Apr 3, 2011 7:28pm Apr 3, 2011 7:28pm
Quoting neomn
I am assuming you are doing rather quick in and out thing for a pip or two's gain. Do you enter trade based on price action, trend, or any other critiria you wouldn't mind disclosing?

Have you tried MB trading's pay for limit orders? Their connection suck big time, but during most of the trading session, you can avoid the commision plus a little bonus for your style of scalping.
Price action. Liquidity providing is a species of high frequency "reverse," if you think about it: you're limits get hit "high" (at the offer side of the spread and vice versa for bids), but then you need the market to move down.

So the algorithm is to watch the pa, particularly a dance of (say) the offers against a static bid, and then place the limit at the inside of the ECN's showing book. The presumption is that the bid is being consumed, in tiny part, by this limit sell.

I looked at MB's offer, but that's not the motivation here. I'm a position trader; the real motivation is to handle the "flat zones" in trend trading. Case in point just now: it sold at 40423, and then then the spike happened. It rolled the position long at market at 50, and is still in the long now at 63-ish. If there had been trend roll happening in the 40's, it would now hand the comm back to the trend logic, long.

But here, in burn in mode, it will go back to normal behavior shortly, probably taking a short next around 64. So far tonight, the average position has been just a little over 4 minutes.

Edit: Went short at 593 in that 00:30-31 1M up candle.
  • #417,219
  • Apr 3, 2011 7:32pm Apr 3, 2011 7:32pm
interesting area of trading......just when you think you should go short.....bam it pops long......and same the other way around. Good to wait for good prices levels to take on any position.

Quoting Clairvoyant
ya, i manually cut @ 4230. was a gd cut i guess...

my basket now is very heavily tilted towards long risk currencies and short usd jpy... i wanna shift the ration, but i dont know when i'll do tt... will have to see how it goes... might try to enter some shorts later to reduce the ratio...
I don't trust any move - when you have profit...take it.
  • #417,220
  • Apr 3, 2011 7:38pm Apr 3, 2011 7:38pm
Quoting redsword11
will get banned soon anyway - and you will not need put up with me any longer
FWIW, I hope that's not the case. You've done great work on your thread; you convey method and discipline in trading, and that's a very good thing. You just lack a bit of that in other aspects of your life, it seems.

It's not my business, but you ever heard of AA? I don't even know if they have it in Scotland, but, fare ye well in any case.
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