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Tape is my shape (tape reading, time and sales)
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Tape is my shape (tape reading, time and sales)

  #421 (permalink)
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rocky9281 View Post
IMHO, even if this becomes legal, he won't do it.Let me explain why.

He is long 11,000 at 1,124 level...................................................................................................condition 1
He is offering 11,000 at 1,125 level-to square his longs...........................................................condition 2
He throws 11,000 mkt buy against his offer (in this process,he is buying another 11,000)....condition3

So, from start of trade to end,he has:
1.bought 11,000+11,000=22,000 contracts (condition 1+condition 3)
2.he has sold 11,000 contracts (condition 2)

So at the end of trade, he is still holding 11,000 (=22,000-11,000) long,whereas, he was supposed to have zero long and zero short..

He needs someone else to hit his offer.Not himself. Isn't it?

Please tell your views

Another thing I ask here...apart from this scenario,can you people tell me any scenario/any case/any example where the pro throws market orders at his own limits? If yes, Please explain the situation in details and also tell us -how does he profits from that activity?

Once again, the practice you allude to is illegal - they are "wash trades". See link to article below.

Print Story

If I'm long or short size, the last thing I want to do is show my position, and especially show my size. So, if I'm long, I'm not in a hurry to put out an offer. In fact, if I want to cover my longs, I might be bidding for size below the market, or even doing some small buying to show activity and prints on the offer. I want to give the impression that there is buying coming into the market, so that it would be easier to cover my longs.The slower the market and the less liquid the market, the easier it is to implement a strategy like this. Of course, there are plenty algos out there that follow exactly this kind of strategy on a high frequency level.

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  #422 (permalink)
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Woo! What a crazy day trading. Made some then lost some. I did this like 10 times. A lot of money could have been made but also a lot could of been lost. I am happy I at least came out positive. +$132. I used 4 and 5 tick stop loss. I will stick to the 4 tick for now. The stop was not the problem. I just need more practice trading in REALTIME. The videos I posted last week were very good help. I quickly realized today how fast things move. You need to think quickly but calmly so you dont jump in too early. I hope this will get better with more experience. I also learn that the REVERSE button on the Dom is really useful. You agree Bloom? You can probably see me use it in one of the videos I will post. Please tell me in the videos what I did wrong and what you would of done. We can both learn something.

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  #423 (permalink)
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16. Jump


In this video I was seeing opportunity for short. As soon as a realized it. It jumped down over three or four prices. I tried using 2 contracts as blooms recommendation. But I didnt know how to close out 1 contract for my scalp. In the next videos I only used 1 contract because I didnt learn that yet.After trading I read on ninja trader website that to close out 1 of your long positions you set it to 1 contract and hit market sell.


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  #424 (permalink)
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17. Bloom level breakdown


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  #425 (permalink)
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18. Support 1

Futures Edge on FIO

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  #426 (permalink)
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19. Tap out


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20. Bloom level support


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  #428 (permalink)
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21. Daily low extension


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  #429 (permalink)
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pbylina View Post

In such situations do scalp. Then tape is fast and you stand versus trend only scalp is must be done 5-10-15 ticks as activity becomes slower.
Good reverse to short and good exit. 3 of 3 in +. Well done

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  #430 (permalink)
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pbylina View Post
In this video I was seeing opportunity for short. As soon as a realized it. It jumped down over three or four prices. I tried using 2 contracts as blooms recommendation. But I didnt know how to close out 1 contract for my scalp. In the next videos I only used 1 contract because I didnt learn that yet.After trading I read on ninja trader website that to close out 1 of your long positions you set it to 1 contract and hit market sell.


Excellent trade, good position management but yours SL is still confusing me. Why do you take 4 ticks stop there? Do you can explain?

P.S.
You can in your NNJTRDR ATM strategy set profit target 1 and set 10 points on 1 first contract.

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