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Sharky's zn classroom
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Sharky's zn classroom

  #251 (permalink)
Elite Member
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Milo Minderbinder's Avatar
 
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Do you know how much the CQG service cost? I could not find the info on their website.

Thank You.

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  #252 (permalink)
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Milo Minderbinder View Post
Do you know how much the CQG service cost? I could not find the info on their website.

Thank You.

You can get CQG from some brokers like Velocity Futures or Optimus Futures.

To discuss CQG please see this thread:
https://futures.io/platforms-indicators/5237-cqg-platform-cqg-trader-cqg-integrated-client.html

To discuss Velocity Futures see this thread:
https://futures.io/brokers-data-feeds/4641-experience-velocity-futures.html

To discuss Optimus Futures see this thread:
https://futures.io/brokers-data-feeds/4712-optimus-futures.html

Mike

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  #253 (permalink)
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no platform fee

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  #254 (permalink)
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scalping

Scalping is not the same as it was even 5-10 years ago. The last time I was on the floor I saw no more than a dozen traders in the Bond pit (10-yrs were slow, 5-yr options I think was busy). Your example doesn't provide enough context. You need a strong level. Once you could place a 1 tick SL (in bonds), it became 3-5. Traders had assistants with headsets arbing, trading pairs, and finally executing orders in the electronic market upstairs. Everybody watched the big locals and the institutions. Notes were deep--that is bids and offers would suddenly appear for 6-8k, then more would hit--so if you were with them fine otherwise you're dead. Electronic interest rate traders start to place orders an hour before the pit opens. You would also either be a member or a lessee so your commissions would be 10 cents up to a certain point then free.

Cisco is about $600/mo. for charts. TT is free if you want to pay retail commissions, otherwise about $500 one exchange.

The 10-year options pit was still pretty active. Some traders went to grains (scalping is scalping). If I want a price I just make sure that a level is going to hold then place a limit order and let the market trade into it. If you are patient you can place orders beforehand or alerts. There are occasions where you can save yourself a few ticks over a market order. Practice with Ym perhaps. Follow the auctions and learn about interest rates. Good luck. BTW, One of the best ways to lose money is by opening your trade in the wrong location, and then placing your stops too close.

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  #255 (permalink)
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Milo Minderbinder View Post
Hello Sharky,

Thank you for your insights on the Zn strategy, I have one simple yes/no question for you.

Lets say for example, you're about to open a long position in ZN assuming all your indicators/gut tells you it's good, however in the level II slots right above the current ask you see a lot of sell orders relative to the amount of buy orders just below(I.E. it looks like this)


#2294@ASKprice $104
#2268@ASkprice $103
#2182@ASKprice $102
#1984@ASKprice $101
last price $100
#1353@BIDprice $99
#1456@BIDprice $98
#1678@BIDprice $97
#1893@BIDprice $96

Would you still go long?

Thank You.

I'm not yet familiar with Sharky's trading techniques, but I'd like to make a general comment about level 2 market depth in the Treasury complex. A great deal of the trade in Treasuries is yield curve spreading (pairs trading or butterfly trading) or basis trading (cash/futures spreading). Autospreaders generate orders at price levels where traders would like to execute a spread, but often these orders are not at the best bid or offer. When you see big orders above the market they may very well be contingent on some offer in another instrument that is at the best offer, but they will cancel when that offer cancels. Also, a lot of bluffing is going on.

"You don't need a weatherman to know which way the wind blows..."
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  #256 (permalink)
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jstnbrg,

Do you even think it is worth it for me to be looking at those "perceived " S&R numbers in level II then?

I draw little trend lines on my charts (just ahead of the current price) wherever I see larger size sitting above/below current price... and generally, it appears to be fairly accurate... however, sometimes I see large orders (outside the current price) just come and go.... they are placed then they just disappear.... like you said, bluffers or some other kind of trick.



Thank you

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  #257 (permalink)
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sharky View Post
and i welcome anyone to give good sound advise or even to give a rebutle to anything i say it helps me learn also im not the best trader out there and i learn everyday something new thanks...sharky


Hey Sharky,

I'm pretty new to this site. Where can I find the classroom where you teach I guess. I Hope I'm asking the right person. tHANKS FOR YOUR HELP.

aLEX

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  #258 (permalink)
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Alex


The search functions are fantastic in futures.io (formerly BMT).
Here you go

https://futures.io/elite-group-trading-methods/5828-sharkys-real-world-trading-classroom.html

Also double click in the search button and it will give you options.First is attachments and that should give you a lot of options in your search in this FANTASTIC forum.

Mike Rocks(even with his broken hand)

sharmas

Alerman View Post
Hey Sharky,

I'm pretty new to this site. Where can I find the classroom where you teach I guess. I Hope I'm asking the right person. tHANKS FOR YOUR HELP.

aLEX


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  #259 (permalink)
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All / @sharky:

https://futures.io/feedback-announcements/10976-big-mike-challenge-2-win-ipad-2-a.html

The Big Mike Challenge #2 starts in June and is about Teaching Trading Methods. If you wish to participate, please read the above link.

The prize is an iPad 2.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Reply With Quote
 
  #260 (permalink)
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Hi Sharky, do you exclusively trade only ZN? Do you also trade ZB and ZF? Thanks

"Faith is the substance of things hoped for, the evidence of things not seen." --- "Therefore, I Believe it and I will see it. And every day and in every way, I am healthier, wealthier, and wiser."
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