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I hear some traders like to subscribe to audio feeds of the futures pits they are trading because it gives them another dimension to get a feel of the market. Does anybody here use "pit audio" or "squak box" feeds in their trading? If so what's your experience with them and how does it factor into your trading success?
I had a 3 day trial - it kind of drove me batty. But I don't scalp. I could see a former floor trader finding it useful, or someone scalping too. But for my purposes, it gave me too much noise and distraction...
Yeah crude Squawk is the best if you trade the Energy markets, Marty Errico is on the floor of the NYMEX and gives you the scoop on CL NG RBOB and HO. hes also letting you know whether big buyers or sellers are coming in the large option purchases like today there were huge call purchases in the options pit and the call to put skew was 7:1. He covers whether the market is backwardation (bearish) or contango (bullish) in the CL and NG spreads and discusses crack spreads (HO/RBOB and 321 crack) which as you may or may not know is the difference between the CL and RBOB and HO and by how much the refineries profit from the distillates. For those that want to learn the Energy markets and need that information should check it out. Email [email protected] to get a free day in the Squawk and give it a shot. I am a long time member thought I would share my experience since its been a valuable resource and have been much more profitable since getting in the room.
Absolutely not true, many folks don't understand the inter market correlations in the energies markets this room is much different than the equity squawk room. If one has never been in Marty Errico's room than check it out. Guess what its free to take a test drive. Email him and he will let you in, if not, maybe its not for you, it is an energies room and not equities so if you don't trade energies than Im not sure you can appreciate what is covered in the room... Marty's information is very relevant. What it is not is auction style with a two tick range quoted. We all can see a quote, this is not what you get in the Energies room. You can't rent any booth at the NYMEX for $100/mn. Marty is tied into CME Clearport as well to see cross action trades taking place outside the pit, this is covered, there is not one room i came cross that gives you that. The large option buying in the options pits is highly relevant as they were buying is large volumes higher priced strikes today dictated the direction of the markets right from the Get. Just my .02¢ This is not a sales pitch, I am in no way affiliated with Traders Audio and receive no incentives fom my rave reviews.
I agree there is not not much value in a verbal board quote which anyone can see. This is very different.
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There are many ships at the bottom of the sea, full of charts.
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I was about to post my own post before I saw "Here are the similar threads we found:".
Anybody use pit audio services like Traders Audio or Trade the News to aid their trading? If you do, how do you use those services to aid in your trading?
Lastly, which services do you know that have lower monthly rates to the ones I listed above?
