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Trading: Oh what a tangled web I weave, When I want to take profits in trading
Frequency: Several times daily
Duration: Years
Posts: 1,774 since Nov 2014
Thanks Given: 3,528
Thanks Received: 3,143
Hi Peter
Thanks for your useful comments in my journal.
You mentioned about the bulk trades not able to move up the price i.e someone absorbing and then price reversing back. Iceberg order is one example, i guess.
A similar event happened between 9.35 and 9.45 - Huge spike up in Cum Delta (aka Market orders) and big numbers in your recon tape) with price not moving up. It pull backed a little but soon reversed to the upside and went up 5 points. I have attached few screen shots if my above description is confusing.
I want to know your take on that market action. Also about the use of Cum Delta in that situation. Or am I reading too much into the opening action?
(I took a sim trade based on divergence and stopped out as described in my journal)
Valid observations and a valid time to take a trade too.
If you think about it - if you considered longs to be trapped around 98, where would your stop be? Not far the other side of 98. If the trade works out it has good downside potential.
So whilst nothing works all the time, the risk:reward on a trade like this is very good.
Also - if a price is holding - you don't need for it to break before exiting. You can just wait for the offers to shrink before you bail - basically getting out before the offers disappear.
If you have any questions about the products or services provided, please send me a Private Message or use the futures.io " Ask Me Anything" thread
@DionysusToast Hi Pete...how does Ninja and Jigsaw work with IB. Need Ninja to look into OF and T&S and hence thinking if IB feed with Ninja is good. Thought of checking in with you
Trading: The one I'm creating in the present....Index Futures mini/micro, ZF
Posts: 2,311 since Nov 2011
Thanks Given: 7,341
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IB data feed is the worst for OF MP VP T&S etc. They take snap shots of the data and then bundle them together. Completely useless for us traders using Order Flow.
Check out this post from IQFeed regarding IB's data
economist99, thanks for your questions. The main difference between IQFeed and IB is that we provide every single trade (tick by tick) and IB provides snapshot data, IB is great for executing orders but not recommended for use in your analytical charts …
They are great for many other things....acct security order execution range of products..........but not data...by design I feel.
Kinetick or better IQFeed (same thing just can connect to other platforms all at once with IQFeed ie NT7 and NT8 at the same time.
Ron
...My calamity is My providence, outwardly it is fire and vengeance, but inwardly it is light and mercy...
The steed of this Valley is pain; and if there be no pain this journey will never end.
Buy Low And Sell High (read left to right or right to left....lol)
being a user of Jigsaw and have actually come back to it, since i did get it sometime back...as when i 1st used it....was probably not sure what i was looking for.
I feel it is an amazing software
Wondering if any of the below features or add on's are in the works...as there is a lot of value in the sweeps and the snapshot
a) Is there a way to Alert (audio - based on size) when bids/offers are pulled away...guess a audio of snapshot
b) anyway of plotting a)
c) anyway of alerting how fast the bids/offers are being replenished..and perhaps plots of the same
d) Plotting of parameters tied to Reconstructed tape or Summary Tape
e) Counter to keep track of sweeps at different price levels and maybe plots of the same.