Best Thread US day traders thread.

[Gadgetman]

Thrombosis again

Thanks to everyone who warned me I'd left account details on the screen dump I uploaded. Never even occurred to me, I don't think I'll forget again though!

Happy trading........

 

[Bez]

Front running the scanners

RIMM... for the gap (min)


Tepid day with this Transit strike

 

[laytonm]

Now I'm not the biggest L2 user but highlighting UBSS on SNDK this morning is a bit of a masterclass in headfakes. Muliple large bids pulled when they get to the top of the screen

Mark

 

[Bez]

Speaking of SNDK....

Hit a larger degree support...should get a resonable correction.. ( reasonable as in the size of the last correction which was a dollar)

Late on the snap...

 

[laytonm]

Yes, I reversed and went long @ 57.36

Mark

 

[samtron]

Now I'm not the biggest L2 user but highlighting UBSS on SNDK this morning is a bit of a masterclass in headfakes. Muliple large bids pulled when they get to the top of the screen

Mark

Hi Mark. (SNDK)
So from this would you say "they" really had stock to sell and were trying to keep the offer price as high as possible while they unloaded stock, as soon as "their"order was complete at about 10-15 am there was no holding the price because they were the only real sellers in the first hour?
I know this is all hind-site on my part but it fits the tape a game of poker?

 

[laytonm]

I do so like sndk

 

[Bez]

Very Nice Mark

The Elliott software & Adv Get will be going off like alarm bells with this....

 

[Bez]

Good to see a chart other the mine !!!!

Thanks Mark

Anyway, entertaining morning now time for some lunch

 

[laytonm]

To be absolutely honest I don't think anyone (other than UBSS) can be completely sure and I don't base entries and exits on these observations, but I do take them into account in terms of running the trade. I noticed UBSS putting up bid sizes of 50 and then 'pulling them' when they reached best bid, and no corresponding trades going through on the time and sales.

I've read and been told that this pattern can mean that the MM is faking support and then possible unloading stock anonymously, so you might be correct.

I just noticed it because the same pattern kept repeating very obviously. I know some people actually trade on this sort of L2 information, but it would have to be ultrashortterm - sndk went on to rally, I went long on a chart based entry that I use.

I'm sure there are folks on this board who can make a more informed comment re MM trading tactics, but I've read that the MM only really has a clear idea of where a stock is headed on the open

Hi Mark. (SNDK)
So from this would you say "they" really had stock to sell and were trying to keep the offer price as high as possible while they unloaded stock, as soon as "their"order was complete at about 10-15 am there was no holding the price because they were the only real sellers in the first hour?
I know this is all hind-site on my part but it fits the tape a game of poker?

 

[laytonm]

Cheers

I normally just watch, but felt a little 'bolder' today

That's it for me today - have to do the family stuff

Mark

Good to see a chart other the mine !!!!

Thanks Mark

Anyway, entertaining morning now time for some lunch

 

[tonie]

This is the L2 screen of SNDK 15.05

 

[tonie]

All the amatures thought SBSH was faking & soaking up on the bid through island(cinn). Check your T&S screens, 80% green all the way down . This player don't always FAKE.

regards

 

[laytonm]

Your L2 screen looks a bit more sophisticated than mine (screenshot attached) - I've not looked at e-signal. I use direct access elite because (amongst other things) I like the way that you can highlight the most active MM (s), but it doesn't show the # best like yours.
Can you highlight MMs with e-signal ?

I find that unless I focus on this there's just too much information for my tiny brain - but then again I use my charts more than L2.

Thanks

Mark

All the amatures thought SBSH was faking & soaking up on the bid through island(cinn). Check your T&S screens, 80% green all the way down . This player don't always FAKE.

regards

 

[tonie]

why have you got arca $ archip both displayed & cinn & island both showing the same information

 

[samtron]

Hey Guys,
Great! some L2 screen shots.
The function of showing how many times a MM has been on the inside looks really useful.


Would any L2 experts agree? or is it just a distraction?

I know Naz uses Elite so it seams strange that they don't provide that function.

Its interesting from tonie's scren shot that SBSH has not been on the inside so far (unless he's been hiding! ).

 

[tonie]

hi Samtron

From watching SBSH is was very clear to me that his 'intention' was to show himself as a 'fake buyer' as thats what the books teach you.

SBSH was already short of this stock & was adding 'flame to the fire' to get the'buyers' in so he could dump some more stock though an ECN on the 'ASK'

He only got hit once at the 'Inside' at a lower price.

Now SBSH was only showing ask size of 171

Know all the jerks realised that um he must really be 'Selling'

So they hit the bids & SBSH took their trade & the stock reversed

regards

 

[Bez]

Agreed some good L2 shoots.....

Ment to post this before but had some visitors pop up....

I'm sure most got the break out

SNDK again

 

[tonie]

You will never ever see a MM come in on the inside with size and do business.

All i can say is 'Trade what you see and not what you think'.

you have to be 1 step ahead of the players. They have very deep pockets.


regards

 

[Trader333]

In my view DAE is better for Level II than Esignal because you have the ability to show depth of market for ECNs within the screens and this is useful information if you know how to use it.


Paul