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Webinar: Order Flow/Tape Reading (The New Pit) - John Hoagland
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Webinar: Order Flow/Tape Reading (The New Pit) - John Hoagland

  #11 (permalink)
Elite Member
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John's opening slide (the pit) is pure art, narration gives a feeling for what has been lost going to screens, which is all a lot of us have ever known.

ETA: John's comments about the DOM remind me I came across the notion of "professional" and "amateur" bars recently, which I assume have to do with lots per trade. If so have to start trading instruments that have meaningful volume (unlike Forex ).


Last edited by bnichols; October 18th, 2012 at 05:46 PM.
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  #12 (permalink)
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bnichols View Post
ETA: John's comments about the DOM remind me I came across the notion of "professional" and "amateur" bars recently, which I assume have to do with lots per trade. If so have to start trading instruments that have meaningful volume (unlike Forex ).

I would not put any faith in such indicators. I did some analysis here (in this thread somewhere)
https://futures.io/elite-circle/21664-using-mysql-storing-tick-data.html

Basically it shows average trade size is like 2 contracts now a days (can't remember exact numbers). So if anything, maybe the 'dumb' money is the guy trading 5 or 10 lots all at once, but overall it's a lot of singles and 2's and 3's, tons of iceberg orders.

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)
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  #13 (permalink)
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From the TT X_Trader manual


Quoting 
Iceberg Orders: Also known as a disclosed quantity. Iceberg orders
allow execution of a large order by splitting the order into smaller
quantities (disclosed quantities). When one disclosed quantity order is
filled, the next disclosed quantity order is sent until the entire order
quantity is filled. Characteristics of an Iceberg order include (1) each
disclosed order quantity is equal; (2) you can set the disclosed quantity as
a number or as a percentage of the order.


Growler Orders: Similar to an Iceberg. When you use the Growler order
type, X_TRADER randomly generates a quantity for each order that is
based on a percentage that you set. You set a percentage and
X_TRADER® sends orders to market with varying quantities within 30%
above or below the specified percentage.


If Touched Orders: Orders may be either Market If Touched (MIT) or
Limit If Touched (LIT). If the market touches the price level on the order
(it does not have to trade through the price), the order activates as a
Market or Limit order respectively.


Market on Open (MOO): Market orders that are only valid during the
pre-opening period on all exchanges. and are intended for execution at the
opening market price. This order type is not available through MD
Trader™.


Minimum Volume (MV):Allows you to set the minimum acceptable
order quantity. If it cannot be met, the entire order is cancelled.


Stop Orders: Allow you to set the Stop Price and Trigger Quantity for
both Market and Limit orders. Therefore, the stop order does not trigger
unless the trade volume at the stop price is greater than the trigger
quantity. X_TRADER® supports both Stop Limit and Stop Market
orders on all exchanges.


Timed Orders: Allows you to set the time and date for the order to be
sent. This order restriction is only available using the Market Grid.

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.

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  #14 (permalink)
in a meditative state...
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Awesome webinar!

Thanks once again Mike.


For those looking for a book that teaches how to read the DOM you might try this NO BS DAY TRADING - No BS

If I become half a percent smarter each year, I'll be a genius by the time I die
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  #15 (permalink)
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I want to thank John for an excellent webinar today!

As promised, here are a few related discussions:

https://futures.io/traders-hideout/10912-tape-my-shape-tape-reading-time-sales.html

https://futures.io/elite-circle/22235-aggregated-time-sales.html

https://futures.io/elite-circle/22191-hunting-icebergs.html

https://futures.io/elite-circle/20727-volume-profile-footprint-discussion.html

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
The following 3 users say Thank You to Big Mike for this post:
 
  #16 (permalink)
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Big Mike View Post
I would not put any faith in such indicators. I did some analysis here (in this thread somewhere)
https://futures.io/elite-circle/21664-using-mysql-storing-tick-data.html

Basically it shows average trade size is like 2 contracts now a days (can't remember exact numbers). So if anything, maybe the 'dumb' money is the guy trading 5 or 10 lots all at once, but overall it's a lot of singles and 2's and 3's, tons of iceberg orders.

Mike

Thanks No surprises there. It turns out very few of the clever ideas I get wind of are not old. And personally have yet to avail myself of the service IB offers to disguise motion of large amounts of capital to distribute or accumulate

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  #17 (permalink)
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Tip


The recording for the webinar has been posted:

Webinar: John Hoagland - Order Flow / Tape Reading - "The New Pit"




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
The following 2 users say Thank You to Big Mike for this post:
 
  #18 (permalink)
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Big Mike View Post
John is a Senior Scout at TopstepTrader and has done a few webinars on futures.io (formerly BMT) before. I highly recommend you check them out.

@Big Mike - can you post a link to John's other webinars on futures.io (formerly BMT)? I typed "hoagland" into the search box and found the two webinars (this one and the one on psychology a few weeks ago). I'd be interested to check out his other videos. Thanks!

Seek freedom and become captive of your desires. Seek discipline and find your liberty. - Frank Herbert
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  #19 (permalink)
Site Administrator
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Surly View Post
@Big Mike - can you post a link to John's other webinars on futures.io (formerly BMT)? I typed "hoagland" into the search box and found the two webinars (this one and the one on psychology a few weeks ago). I'd be interested to check out his other videos. Thanks!

Webinar: TopstepTrader on Risk and Trading Psychology

Webinar: TopStepTrader on Discipline and Risk

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
The following user says Thank You to Big Mike for this post:
 
  #20 (permalink)
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Big Mike View Post

The recording for the webinar has been posted:
Mike

Excellent webinar, thank you for posting, Mike!

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