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No charts, Indicators, etc. Am I Naive?
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No charts, Indicators, etc. Am I Naive?

  #21 (permalink)
Trading Apprentice
atlanta,ga
 
Futures Experience: Beginner
Platform: ninja
Broker/Data: mirus
Favorite Futures: oil
 
Posts: 25 since Oct 2011
Thanks: 20 given, 4 received


Massive l View Post
Not just indicators but no charts either, right OP?

Well massive, im not sure what technically qualifies as a chart.....I mainly like to look at the actual numbers themselves as they move, getting a feel for speed and watching direction, trying to determine where the big money is going......with Ninja I will look at the candlesticks i suppose but i will not be plotting any lines. Ive heard there is a pace of tape indicator that I may incorporate as well. Ideally i would like screen only showing numbers.....im sure it is available....take care, murf

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  #22 (permalink)
Elite Member
Portland, OR
 
Futures Experience: None
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Massive l's Avatar
 
Posts: 1,458 since Mar 2011
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Okay, so you do have at least 1 chart up. I like it.

I think the biggest 'edge' anyone can have is being able to expose themselves to
the least amount of risk as possible. This is especially true when working with leverage.

I trade mostly on a laptop with 1 screen and 1 chart with no indicators except volume by price (profile) and price itself.

I don't think you're naive at all. However, it took me nearly 5000 hours of screen time to come up with
this potent strategy that works for me. It's all about trial and error over and over and over again.

Psychology > Strategy ≥ Money
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  #23 (permalink)
Trading Apprentice
atlanta,ga
 
Futures Experience: Beginner
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Posts: 25 since Oct 2011
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@Massive l

Thanks, i havent set my screen up yet.....only going by what i have seen on my buddy's, but i like your approach and it seems to be what i need to suit my philosophy. Is there a screen that scrolls price and keeps all prices up as it rolls along? i like to be able to be able to look at a bunch of price data in a column setup. i have always written down price manually as it changes and i just get a better feel for what is occuring. Thanks again, murf

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  #24 (permalink)
Elite Member
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Massive l's Avatar
 
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Mine doesn't scroll but it updates in real time.
Almost all platforms are going to have this.

Psychology > Strategy ≥ Money
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  #25 (permalink)
Elite Member
schnectady NY
 
Futures Experience: Beginner
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Favorite Futures: gold ,crude
 
kevv's Avatar
 
Posts: 44 since Oct 2011
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One day a couple years back while being eaten alive in the market, I stepped back and had an awakening.
I used to call it revenge trading after taking a loss I would stay up all nite chasing, buying highs and selling lows.
In fact I lost half my money buying highs and the other half selling lows.

Holy crap man I got so many indicators and lines on my chart I can not even see the darn price.
Then I found out about the time and sales window, never saw that, never even heard of it.
After the time and sales I scrapped all the indicators I still use moving ave, cuz I like lookin at em.

I use a fibo technique I learned over at the Emini Addict forum.
It has really made a difference.

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  #26 (permalink)
Trading Apprentice
atlanta,ga
 
Futures Experience: Beginner
Platform: ninja
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Posts: 25 since Oct 2011
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@kevv.....is t&s window the same as the (forgive if i mistitle this) the dom in ninja. has buy and sell columns with # of contracts at each level. Goes too fast for me to determine what specifically is occurring......learned an important lesson today......make sure I make sure the lady tells me the order has been executed vs. "pending"!!!

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  #27 (permalink)
Site Administrator
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skinlanta View Post
@kevv.....is t&s window the same as the (forgive if i mistitle this) the dom in ninja. has buy and sell columns with # of contracts at each level. Goes too fast for me to determine what specifically is occurring......learned an important lesson today......make sure I make sure the lady tells me the order has been executed vs. "pending"!!!

Time and Sales is the stream of every order in the marketplace, it is timestamped and shows the number of contracts or shares executed, and at what price. Using this info you can determine if the execution was at the Last, Bid, or Ask. The more sales at the ask than at the bid may indicate a market moving higher. The more sales at the bid than at the ask may indicate a market moving lower. Keep in mind it is not just the number of orders (ticks), but also the volume behind those orders that matters. Most platforms allow you to filter time and sales by volume size.

DOM is depth of market. It is a ladder type display that shows you how many resting orders are at each price level above and below the last price of the market. Orders above the last are at the ask and higher, and orders below the last are at the bid or lower. Some markets allow you to see 5 levels deep each side, some markets allow 10 levels deep. Some platforms are limited to only 5 levels even though the market data supports 10 levels.

Mike

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  #28 (permalink)
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@skinlanta
I was gonna answer ya but Mike got it yeah the dom is different,
Ninja does have time and sales, I like it because if I have a certain price I am looking at for a trade I watch the order flow at the price if Im looking short i look for lots of sell orders even more so when I see bigger lots.
Same thing for long.
Thanks Mike,
kevv

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  #29 (permalink)
Trading Apprentice
atlanta,ga
 
Futures Experience: Beginner
Platform: ninja
Broker/Data: mirus
Favorite Futures: oil
 
Posts: 25 since Oct 2011
Thanks: 20 given, 4 received

10-4 Mike and Kevv........My buddy set up a few things for me over the phone and i do indeed have the dom, it does irritate me that they dont show more levels here....but the time and sales deal is the one i want, it is exactly what i want actually, ill try to set it up tomorrow......i assume it is listed with the other various charts. Thanks for the info, murf

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  #30 (permalink)
Trading Apprentice
atlanta,ga
 
Futures Experience: Beginner
Platform: ninja
Broker/Data: mirus
Favorite Futures: oil
 
Posts: 25 since Oct 2011
Thanks: 20 given, 4 received


Referring back to my original question, I can already tell that i get a better feel for what is going on by simply watching the frigging price movement on the television screen! Hopefully, I will get into some sort of rhythm as i get used to these new tools.

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