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Trade Point Technologies

  #71 (permalink)

Trading Experience: Intermediate
Platform: NinjaTrader
Posts: 2 since Jun 2009
Thanks: 1 given, 1 received

cunparis View Post
If he has 45k how do you know it's shares?

I think the charts show the indicator name having CPM in it. I'm fairly sure that's Contracts Per Minute. I think that is mentioned in a post on TL as well.

He listed 3 criteria:

- increase in intensity
- buying or selling
- ?

I forget the third. For the 2nd, the only way I know how to do that is by using upTicks & downTicks in Tradestation.

If you mean historically, that might be correct. However, UB himself mentions two popular ways of doing it:

1) trade at bid, trade at ask
2) up/down/same (upticks & downticks)

and then states that he uses neither of those. There are many other possibilities of varying level of sophistication. UB doesn't say what he uses (I would really like to know). If there is any significant value in UB's indicators, I think primarily it comes from this one thing: the accurate assessment of bid/ask pressure. If you can do that, all the rest is just doing that calculation in various ways.

Let's say price is moving up to 1000 and I got a limit order to buy a million contracts at 1000. The ticks at 1000 are going to be on upticks (I'm letting the market come up to me), which would make us think it was buying volume. And it was, buyers pushed the price up.

Unfortunately NT 6.5 doesn't have this. It's something I can't trade without, which is why I use both NT & Tradestation.

That's interesting. If you want up/down ticks, right... I can see what you mean--though you could do it on a 1 tick chart (wouldn't be so bad if it would let me squish it up more).

However, if you want to do trade at bid/ask, then you need an unfiltered feed like zen-fire. Tradestation snapshots bid/ask so it would not be accurate to try to calculate trade at bid/ask in it. Of course, unfortunately, you can only do trade at bid/ask in realtime and not historical except possibly on certain platforms (at least I think I've heard it done somewhere).

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