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I'm going to be taking a look at the ZN for a little bit so I'll be doing a few late nights for a while.
It was nice to be back in a liquid market, but it wasn't an easy day for sure.
I hadn't traded the ZN for a little while and there was certainly some size printing. A lot bigger than I remember it.
The Bund had been really weak during the European open but right on the pit open we saw a big buyer really stepping up and buying right at the bottom.
From there on we had quite a bid in the market. There was a nice pullback a bit later and it was a hard market to do anything with other than go with the trend.
We eventually sold off, but I wasn't able to get a piece of that.
Interesting start. Looking forward to the next few sessions.
On the Aussie front we have RBA minutes but there wasn't a lot new. Aussie has been weaker since and XT is a couple of ticks down.
Can you help answer these questions from other members on NexusFi?
Unfortunately I only got a couple of ticks out of those big buyers. Would've liked more
I did actually get stopped out trying to pick the top.
I don't pick tops and bottoms that much but in the ZN I think it's a good trade.
I also like to wait a bit into the session as usually if there's a trend it's there early.
In this instance I wanted to get short. I like to get short on the other side of the high.
Often if you look at the MP there will be a couple of prices at the top with very little volume and then one with a lot.
The temptation is always to short at that large MP level. However I find price loves to test the highs so I like to wait for a push through and to see size printing into the offer on the other side.
We got that here, however there was just a bit much buying and it ran back through me.
Unfortunately I was right and we did sell off - I just wasn't in it.
Last night there was a ton of size printing all over the place and I was really looking for a bit of a pullback from the buying, but there was really no let up.
After we tested the highs I looked to get short after a massive amount of size printed around 265. However we just couldn't sell off and it kept on getting bid up at 250.
I held this one for an 1 hr+ before finally giving in.
Then as we broke higher and there was really only strength (and a lot of weakness in the equities) I got a nice pullback.
Classic spot for me. MP level. Size printing into the bid.
Platform: "I trade, therefore, I AM!"; Theme Song: "Atomic Dog!"
Trading: EMD, 6J, ZB
Posts: 795 since Oct 2009
I was so hoping this was a US based thread, with US based experiences. Then I realized, how enlightening it will be to keep up to date with this thread, to see how "prop" is defined for other traders / countries.
I am glad, its only up to 3 pages, instead of more, which means I am getting in, just after this took off, but then again, isn't that how they describe pro traders, who pile into a proven trend and accelerate it even further...
I honestly didn't know that there were proprietary shops offshore to the US, although, when I was with the Bright Brothers, they had traders in other countries. I guess all my knowledge is US centric, and US regulatory perspective, but then again, if one can't make his fortune with what he has before him, how would he expect that more would be put before him.
thanks for sharing, can't wait to see how this thread develops
We started with a weaker tone as Bund was dragging us down after a poor auction.
We ended up pushing lower on the open and pulled back a touch before a big MP level got established at 250.
I traded this twice but we never really broke through. I made 2 ticks on each in very rangy fashion, before we finally got a push lower.
We had FOMC minutes out later in the day and that is always going to help things stay a bit more range bound, so I adjusted my expectations accordingly.
A bit later in the day I took another pullback to the MP range which was now at 240. In truth this might have been a bit close to VPOC but in reality price just couldn't get up at all.
I was short and luckily we also got a comment from ECB's Weidman that was bearish for bonds.
I would sometimes hold this for a bit more of a push, but all eyes were on the FOMC so I just took my 2 ticks once again.
I actually didn't wait around for the FOMC minutes as I'm still battling the hours a bit and they were out at 4am.
There's sometimes a bit of a chance to get some nice news play on minutes but I felt that my 4am I wouldn't be sharp enough anyhow.
Slow and steady day that's for sure. Just the way I like it.
I think in our timezone the Kospi is the market to look at. Similar tick value to the SPI but loads more volume - usually 100+ a side and average 150k contracts a side. Or the HK futures if you prefer a bit more volatility.
Bit confused, you said you were trading remotely for a firm, but then also talking about using AMP as your broker. I'd have thought your firm would get you onboard some decent rates due to the group buying power?
anyway, just saying hello, and posting so I can subscribe for further updates.