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Iceberg detection software: valuable or just a new shiny toy?

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Iceberg detection software: valuable or just a new shiny toy?

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  #1 (permalink)
Dallas, TX USA
Experience: Beginner
Platform: Multicharts
Broker: AMP
Trading: ES
Posts: 12 since Jan 2018
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So I've been here off and on, lurking until now. Also trading off and on but not serious about it and have decided to get serious in the last few months.

Yesterday, I attended the FIO promoted seminar by the Bookmap folks who demoed their new iceberg detection software that shows native iceberg activity from the CME MBO feed and then I watched almost 2 hours of live use of the tool today. My first impression is that it looks somewhat useful. It seemed that after a spurt of buying absorption by icebergs that a downturn usually followed fairly soon, and similar actions of selling absorption followed by a price rise. Granted that this is on a tiny set of data. Since Bookmap and their MBO package can be rented, I'll likely give it a try in the real world for at least a month. It seemed very useful for short term scalping or short term swing trading. The tool also indicates when stops are run.

On the other hand, I know that many icebergs are not done with native CME orders and are dispensed by co-located servers with prop technology or using TT. The question I suppose: is catching the native icebergs and stop runs via MBO sofware good enough to help us retail traders?

Thoughts from the more experienced folks here? Thanks!

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  #2 (permalink)
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There was a post on this the other day. That answer might be helpful.

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