Icebergs & Stop Runs & Balance of Outright Traders
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- Опубліковано 12 вер 2024
- In this webinar, we took a look at iceberg orders & stop runs. With the advent of MBO, people are getting excited about using some of the new information in their trading. In this webinar, we took a few steps back and examined the underlying activity of Order Flow to ensure we put icebergs and stop run info in the right context.
Topics covered:
- The different types of trading (from an outcome/reactionary perspective), we see in the order flow. What their orders really mean.
- The concept of 'reactionary' positions.
- What an iceberg order is, how they can be submitted, how they can be hidden
- MBO based iceberg detection vs Volume-based iceberg detection
- Stop detection & the concept of netting-out stop qty against traded qty
- How to spot icebergs on Vista/D&S
- How to spot stop runs on Vista/D&S
- Common sense approach to using iceberg/stop run information
The goal here is to see past the hype and implement a rational and realistic approach to using this subset of market data.
More here: www.jigsawtrad...
I've been testing MBO on Rithmic with MotiveWave with a setup similar to Jigsaw and I have just a few things to say; Firstly, the most important feature they added to MBO data was the ability to filter by minimum order size. This is because I really don't care to see every 1 lot or even every 20 lot in the book. I'm more concerned with tracking the larger orders that sit around and seeing how that participant reacts to price if/when it advertises back into that area. Secondly, even having said that I did not find MBO data had changed my methodology in any way, shape, or form. In fact, nothing changed from how I approached either caring or not caring (depending on context) about pockets of liquidity. I could take it or leave it, in other words. MBO is a far cry from full price discovery a la trading pits where you are right there by the supply. With full price discovery In the pits you could stand around the Goldman Sachs guy like everyone else knowing full well who that participant is and, as an example, if the market takes out the prior session high and the goldman guy gets real quiet and the rest of the pit goes quiet it doesn't take long for hands to go up and selling to start. That's full price discovery and you can't get that in modern markets. Steidlmeyer was taking about this stuff as far back as 2011.
Thanks for attending my TED Talk Rant.
Thanks for sharing! That makes sense.
its funny how much actual useful, timeless informtation to actually become profitable is overlook by most of retail traders. Its really common for retail traders to treat the market like a kindergarden drawing book with the indicators that they dont even know the true use of, just waiting for lines to cross without knowing the mathematical reasons to the indicator. just pretty lines that excite the dopamine receptors.
"A fixed mindset focuses on the minimum effort needed in a situation as extra effort is wasted, while a growth mindset puts forth the efoort needed to get to the next level of rewards."
Can u guys do an introduction video to the Charts Beta? Would like to know if i could use ur charts or do i still need sierra charts to do my "normal" charting apart from the auction vista
To daytradr on Jigsaw, can I only use the charts ? I don't need the DOM and all the rest. Can I upload indicators into the charts on Jigsaw?
Hey Peter, where can I find the swing indicator seen in your videos and how do you determine the swing size? Thanks!
wow so changing the order quantity of a Nasdaq stock sends the entire order to back of queue correct?
increasing the qty of an order sends it to the back of the queue. Decreasing it doesn't. Not sure about other platforms but ours creates extra orders when you up the size to preserve your queue position
Hello Peter, sorry for my English in advance.
Is there a video guide / presentation in German? I have watched several presentation videos but unfortunately I don't understand a word because I don't speak English.
I would like to buy Jigsaw.
Implementing MBO for Jigsaw would be a waste of resources, there are more useful features that can be implemented instead such as trailing total trades and or volume profile.
This guy annoys me