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correct, it accumulates... I dont want to see all the 1's and 2's from retail.. it also enables me to filter size 100+ only, etc... should I really care about how many trades it was to do those 132 contracts? I guess it all depends... I wouldnt mind playing with your product... just sent you a PM..
You get 1000 orders at bid - 1000 prints of 1 lot
You get 1000 orders at ask - 2 prints of 500 lots
An extreme case but simply a matter of having the ability to track small vs large players should you wish to use that information. Obviously - if the little guys are selling and the big guys are buying, it's more bullish.
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Well - I obviously hope they don't! As a Ninja partner I am hoping they don't jump on the idea If other platforms do - I will be quite flattered. From the start, I didn't got the patent route as this was supposed to be a fun sideline, not a reason to spend time with lawyers. As such - I have to live with people copying it.
There's a 3rd product being worked on right now & then a 4th for spread traders. I think these are the ones that will most likely get copied.
As a rule, I just don't think that many people are interested in time & sales. it's a niche.I don't think many platform providers would bother. Mostly people want something represented graphically.
Also - look at what scalpers focus on - it's mostly the order book with a little focus on the trades going through. I think this is backwards - I think it should be 90% flow of trades and 10% order book but reading the flow of trades through time and sales requires rare skills in my opinion.
Sysot1t - great posts and very frank.
Interestingly enough I used to use MD but then stopped using it 8 months or so as I never really got to terms with the Footprint chart but liked the Market Profile charts as I studied with Dalton on interpreting MP however I found I can see the same thing using 30 minute candle charts. I then tried IRT primarily to use it for cumulative delta as it was much cheaper than MD as it does not incorporate Footprint charts but yesterday I cancelled my IRT subscription as I found I was not using it. I find Ninja has much better tools written for the it such as Gomi's indicators, which I think are better than MD’s FP indicators, and they are free. I also like the stuff Fat Tails puts out, they are relative and very well written. To get the same in MD/IRT you would need a programmer that is conversant in writing in the code they use which is not easy plus you cannot trade from the charts as easily as you can from Ninja. I also like DionysusToast's indicator as I can follow the T&S much better as prior to that I found T&S too much and did not use it but DT's tools are great and make reading the T&S much much easier.
glad to know you like NT7... I prefer to use it, whenever I do, just because of their DOM and ATM, nothing else... other than that... I dont need lots of indicators and all the things that FT and other "put out" to me is a lot of time just noise on the charts... I guess it all depends as to what one is doing and trading style... MD/IRT is simple enough for me to give me what I want with stability... once you start loading other ppls indicators, NT7 is not as stable...
and yes, GOMI's stuff is amazing... as I have said before, NT7 has users mainly because of him.. if he ever decided to write his indis for RightEdge for example, which is pretty decent as well... I am sure that then you would be saying you like RE since GOMI is there and it would all be free...
hmmm... interesting, but I dont think he ever traded enough contract to show his volume on the T&S... not only that but... you do realize the T&S on Futures is not like equities right? one cant really tell when ones contracts are executed regardles of what size.. unless you have swept all contracts on a given price and that would be major size that I doubt Joel would ever trade..
You are correct in most what you say and it is hard to disagree with you, not to say that I am looking to do so. I agree NT is a bit flaky, for sure, although it has been okay for a while – touch wood! IRT/MD do have their moments though and are prone to a few hiccups and lots of software updates. I do like MD and was user since 2007, and IRT only recently. The support element is very good with both and much better than NT, Trevor at MD and Chad at IRT but I have found a set of tools and indicators that I can relate to however I only ever trade with them based on market structure and understanding without that I do not even look at indicators. I only look at my indicators to confirm what I see. My edge is in the understanding of the structure of the market place and only then can I look for opportunities. As Van Tharp said “you are only trading your beliefs at the end of the day.”
Victory is in the preparation