growltiger said:People have been saying this. But for two reasons I think it is unlikely:
(1) The phantom order is almost always added to the order book when there is a buffer of a couple of hundred contracts at the spoofer's chosen price, which will get hit first, thus giving time for the order to be pulled if it becomes the inside price;
(2) Market orders of that size do not exist. 100 contracts is a fairly big order. To call the bluff of the spoofer would take very swift concerted action by a large number of the larger players. And it is probably the wrong position to take; the spoofer's technique is to pull an order from what he thinks is the wrong side of the market, making it move a few ticks against its natural flow. So this is not a target that other traders would naturally aim at.
SOCRATES said:Who is Linda Raschke ?
growltiger said:People have been saying this. But for two reasons I think it is unlikely:
(1) The phantom order is almost always added to the order book when there is a buffer of a couple of hundred contracts at the spoofer's chosen price, which will get hit first, thus giving time for the order to be pulled if it becomes the inside price;
(2) Market orders of that size do not exist. 100 contracts is a fairly big order. To call the bluff of the spoofer would take very swift concerted action by a large number of the larger players. And it is probably the wrong position to take; the spoofer's technique is to pull an order from what he thinks is the wrong side of the market, making it move a few ticks against its natural flow. So this is not a target that other traders would naturally aim at.
rdstagg said:The more obvious answer is that an algorithm plays this game - faster than the human eye or hand so its highly unlikely to get taken out as it will be rule based and pulled before any size can get in?? Its designed to make money.
Second if you look at order routing rules at the exchange the mm's have a certain leeway before accepting the trade (especially one of that size).
Its just part of the game.
Russell
qaza said:rd
a further point ..........
if someone is offering to sell a future or 3000 futures , what's that got to do with a market maker ?
Yep.qaza said:EDIT ...............apologies I have read your post again , you are talking about the way the L11 screen is configured ? am I warm ?
I'm glad they didn't find you. Welcome back.china white said:sorry lads/lasses - I've been away from action for some time hiding in the mexivan countryside
Darktone, sorry I have been busy with the Basement. This chart you show has a propensity for weakness in this instrument that at a glance I can tell you will fall to at least the previous low, and perhaps to 12250 or thereabouts.darktone said:Was wondering now the thread has been split if were ready to pursue price action only yet?
If so perhaps we can kick of with the example below and discuss methods of timing the 2650 area.
Would like to see some input before i wade in with my take.
regards
dt