That in my view is absolutely correct. The only reason I haven't used the 500 stocks of the S&P was simply because I wasn't ready to pay Esignal the costs for 500 symbols. However, as luck would have it, a member of Esignal has been following my threads on ET and has kindly offered me a deal on all 500 symbols. Therefore, I will be using S&P as my proxy in the future...
That in my view is absolutely correct. The only reason I haven't used the 500 stocks of the S&P was simply because I wasn't ready to pay Esignal the costs for 500 symbols. However, as luck would have it, a member of Esignal has been following my threads on ET and has kindly offered me a deal on all 500 symbols. Therefore, I will be using S&P as my proxy in the future...
DionysusToast
Legendary member
- Messages
- 5,965
- Likes
- 1,501
Carton
The proxy you should be trading is the ETF 'SPY' - like I said 2.5 cent move there = 1 tick on the ES.
This is your ES 'trainer wheels'. Once you have become proficient - move up to the ES.
You cannot simultaneously trade 500 stocks. Not on any retail platform! The fees, slippage, screw ups would eat you alive.
Cheers
DT
The proxy you should be trading is the ETF 'SPY' - like I said 2.5 cent move there = 1 tick on the ES.
This is your ES 'trainer wheels'. Once you have become proficient - move up to the ES.
You cannot simultaneously trade 500 stocks. Not on any retail platform! The fees, slippage, screw ups would eat you alive.
Cheers
DT
Eye of the Storm
Junior member
- Messages
- 12
- Likes
- 0
There's a guy on youtube, the daytrading room I think. He has some live tape reading clips and he used to offer a course, not sure if it's still available.
maxima
Established member
- Messages
- 607
- Likes
- 31
what abt comms on the spy? it must be insane compared to the futures... no ?
I think SPY is much cheaper, and ( i think ) you get rebates for limit orders too
maxima
Established member
- Messages
- 607
- Likes
- 31
to answer myself. it is of course not anyhow cheaper than ES but it is cheaper than I thought.
1 ES car is eq 500 SPY shares. Looking at IB (which I personally hate wholeheartedly) will cost you $5 RT on flat rate.
which is not bad. I know that there are a lot of idiots who are paying 5 bucks for futures round trip and more.
1 ES car is eq 500 SPY shares. Looking at IB (which I personally hate wholeheartedly) will cost you $5 RT on flat rate.
which is not bad. I know that there are a lot of idiots who are paying 5 bucks for futures round trip and more.
tar
Legendary member
- Messages
- 10,443
- Likes
- 1,314
but the spread is only one cent
DionysusToast
Legendary member
- Messages
- 5,965
- Likes
- 1,501
Should be no more than .5c per share each way.
Thierrytrade
Newbie
- Messages
- 5
- Likes
- 0
Hi all
thx Eye of the Storm for the ref on youtube. I've find a lot of video of this guy.
I'm alqo looking for the tape and I have some questions: a transaction involves a buyer and seller. By the seller: we do not know if it closes a long position opened earlier or if it opens a short position. Same side of the buyer: he opens a long position or closing there a short position. It is not at all the same thing. All these questions seem important to be able to use this tool for trader, maybe it's silly.
It is strange to find very little about the subject, or very old things and then sold very expensive
thx Eye of the Storm for the ref on youtube. I've find a lot of video of this guy.
I'm alqo looking for the tape and I have some questions: a transaction involves a buyer and seller. By the seller: we do not know if it closes a long position opened earlier or if it opens a short position. Same side of the buyer: he opens a long position or closing there a short position. It is not at all the same thing. All these questions seem important to be able to use this tool for trader, maybe it's silly.
It is strange to find very little about the subject, or very old things and then sold very expensive
DionysusToast
Legendary member
- Messages
- 5,965
- Likes
- 1,501
Thierry
Every buyer is a seller.
BUT
Buy side liquidity prevents price from moving down.
Sell side liquidity prevents price from moving up.
Market orders consume this liquidity and at the most basic level it is this that enables price to move through liquidity.
Every buyer is a seller.
BUT
Buy side liquidity prevents price from moving down.
Sell side liquidity prevents price from moving up.
Market orders consume this liquidity and at the most basic level it is this that enables price to move through liquidity.
Hakuna Matata
Well-known member
- Messages
- 357
- Likes
- 209
gutted I can't rep my old posts
Thierrytrade
Newbie
- Messages
- 5
- Likes
- 0
THX DionysusToast
Fine, I understand that this information is of no use to trading.
What counts is the balance between buyers and sellers, when all that is on sale is purchased during montent and vice versa.
Is it not more useful to look at the DOM to be a little ahead of the flow forecast?
Thierrytrade
Newbie
- Messages
- 5
- Likes
- 0
This is precisely why we need to determine to learn to read the time & sales and the DOM. It's not so easy
NVP
Guest Author
- Messages
- 37,936
- Likes
- 2,141
how long is a piece of tape ?
Hakuna Matata
Well-known member
- Messages
- 357
- Likes
- 209
numbertea
Well-known member
- Messages
- 257
- Likes
- 9
To continue that ribbon of thought. My tape length is 5 minutes. I use the 5 minute cumulative bid versus ask percent for my buy/sell indicator. I then apply the level to the bars of the candlestick patterns I trade, indicating their validity. I wrote my own software, I'll post some pics of past days trading soon. I'm out on the mobile now.
I have found that there is even more to it than just buy on weak sell pressure and sell on weak buy pressure even though these are the main tenants. When applied to multi bar patterns it can get even more complicated... This is great because once the good combinations are identified, the false signals are routed out more often than not.
Cheers
I have found that there is even more to it than just buy on weak sell pressure and sell on weak buy pressure even though these are the main tenants. When applied to multi bar patterns it can get even more complicated... This is great because once the good combinations are identified, the false signals are routed out more often than not.
Cheers
