The World according to Cartman

[nunthewiser]

Mirc --- to be fair --- i dont think Glenn was referring to u as part of the "Galah" tribe --- U my friend r highly regarded around here by all --- and if anyone does not regard u highly, more fool them !!!

i think his pretty p#ss poor attack was directed more at myself and Nun --- maybe poor old Bob has gotten himself wrapped up in a 'bad team' as well --- although i think Bob can handle himself just fine ---------

--

WTF!!!! NO WAY !!! he cant have directed that "galah" attack at me man!

must have been you and tech/a i reckon .........

i think the bird flu musta got him

 

[Cartman]

WTF!!!! NO WAY !!! he cant have directed that "galah" attack at me man!

must have been you and tech/a i reckon .........

i think the bird flu musta got him

--- sorry Nun ----- i think u may be a perceived 'bad guy' as well ----

but i bet yr nice to yr kidz eh??!!

 

[tech/a]

must have been you and tech/a i reckon .........

Nah

Clearly I'm a Duck.
I focus is clearly the only Galah and Rosella--well hes a Rosella.
Boggo's a---actually what is Boggo?

 

[Bobby]

Hay Cartman ,
Did real good today ! Took a short early (SPI) , felt it would keep falling so ignored the smaller chop just let it go till 4pm.
At the same time traded the trend down with a double layer play for the whole day as well HeHe
Did also use the colour scheme of todays live market activity indices to keep confirming direction , RED !

 

[nunthewiser]

Nah

Clearly I'm a Duck.
I focus is clearly the only Galah and Rosella--well hes a Rosella.
Boggo's a---actually what is Boggo?

LOL i refuse to answer that question on the grounds it may incriminate me

have a great evening

 

[glenn_r]

Well it looks like the Galah's have answered their own questions (geez your a predictable bunch), tally ho guys I'll be off now to trade a few more a,b,c's, y'all have fun together now, just don't drop the soap.

 

[Cartman]

Hay Cartman ,
Did real good today ! Took a short early (SPI) , felt it would keep falling so ignored the smaller chop just let it go till 4pm.
At the same time traded the trend down with a double layer play for the whole day as well HeHe
Did also use the colour scheme of todays live market activity indices to keep confirming direction , RED !

onya Bob ---- not bad for a 'Galah'

 

[Cartman]

Well it looks like the Galah's have answered their own questions (geez your a predictable bunch), tally ho guys I'll be off now to trade a few more a,b,c's, y'all have fun together now, just don't drop the soap.

-- u r a funny man Glenn ---- well actually yr not --- but dont let that stop u posting here --- everybodies welcome on this thread ---

i find it interesting that in the last two days, i have been accused of being a sm@rt ****, condescending, undiplomatic, by Boggo ---- not to mention causing the tone of ASF to be degenerated into a "worse than HotCopper" AND bringing the WORST out in other posters -------- and now Glenn is insinuating we "babble thread" guys are not only Galahs, but we r potentially gay as well -- (not that i have anything against gay people ---- i have good friends who r gay !!) ----

so i just wonder, who is actually degenerating the tone of this place ??? -------

and u guys who r espousing yr own high moral grounds,--- perhaps should have a closer look at who is actually doing this forum good and who is doing it a disservice ----------

for eg -- the worst i have done around here is

1)question the validity of a trading method (that would be E/W) -------- and
2) question the age of a poster who appeared much older than he stated ----

hardly grounds for ridicule i would have thought ---------- but u holier than thou guys can call people like me all the names under the sun AND then accuse me of denigrating the Forum ------ interesting isnt it

debate still welcome ---- i can take it !!!

 

[MRC & Co]

hello MRC,

i like your enthusiasm for what you do, a necessity for any who aspire high.

a question for you re DOM.

i used DOM when share trading with some success, but dont use it index trading.

how do you account for the all the volume not visible in the queue, such as at market orders yet to be executed? is this a largish portion of the volume, never reaching the DOM queue? does this unseen volume negatively influence your DOM strategies?

thanks
James.

Hi James,

As TH states, what crosses the spread is one of the most important things (that is what is hit at market). Sometimes it can be as obvious, as big volume being hit at market, say, the bids hitting the asks, as long as the asks are not refreshing (and even more preferable if they are stacking the asks but these are thinning as price approaches the tick (price) level before the size), then it's probably pretty obvious that there is a big buyer in there, and nobody to sell enough to soak up those buyers. That I believe, is simply 'reading the tape'.

This will then show up in volume and price movement, but that is more static and lagging, in comparison with simply viewing the DOM which is as live and least lag as can be seen.

Add in, don't buy the top of a big green candle: BUT wait for a pullback in the DOM (will be seen within the candle, but may not be seen once the candle is actually printed).

OR

Don't buy an extended run, wait for a pullback on the charts (simply trying to time getting on a HL etc). While doing this, note trend structure, i.e. if the HL has intersected the previous HH, then the trend is probably weak, but you will notice many HLs will intersect the previous HH (or swing high, or pivot high, whichever you wish to call it), by a few ticks.

Working out which is which is the hard part, but each allow a relatively tight stop and watching DOM movements, such as asks being pulled, or bids refreshing, may allow you a more certain entry.

 

[Cartman]

Hi James,

As TH states, what crosses the spread is one of the most important things (that is what is hit at market).
Add in, don't buy the top of a big green candle: BUT wait for a pullback in the DOM (will be seen within the candle, but may not be seen once the candle is actually printed).

Don't buy an extended run, wait for a pullback on the charts (simply trying to time getting on a HL etc). While doing this, note trend structure, i.e. if the HL has intersected the previous HH, then the trend is probably weak, but you will notice many HLs will intersect the previous HH (or swing high, or pivot high, whichever you wish to call it), by a few ticks.

Working out which is which is the hard part, but each allow a relatively tight stop and watching DOM movements, such as asks being pulled, or bids refreshing, may allow you a more certain entry.

more excellent info Mirc ---- hope the nay sayers are taking note !!!

 

[MRC & Co]

OR

You can fade an extended run, knowing it will have to form a HL at some point, some may even average at this point (this is where you have to know when news is out, you would not do this on an a rate announcement or GDP figure). Others if they are right, will put profit targets in a region below at a previous HH and a cut and reverse near that.

OR

Wait for a big level to be defended, refreshed preferably, or some size to lean on, and put your order infront of it. Even better if the market reaches an extended point. Perhaps even in a region Franks system would point to a reversal to take place if the two show confluence?

 

[nomore4s]

lol, you blokes crack me up.

Cartman don't take this the wrong way but f#%k your posts are hard to read sometimes.

 

[Bobby]

onya Bob ---- not bad for a 'Galah'

Thanks ,
Yep I'm in a good mood tonight , as for who's a Galah its not us !

Like to see bogo apoligize to you , no need for that sort of rhetoric :nono:

Glen_r your avatar suits you , an appropriate choice :

 

[MRC & Co]

Just one quick note on DOM, it does not just mean what is in the depth of market (which is what is sounds).

It is watching level 2 data, which shows you orders being pulled (can be important if all of a sudden a big level being defended with big size, is pulled, first to notice and execute the break of that level will be the biggest winner), or orders being pulled as price approaches. I.e. the 2nd level of DOM volume thinning once the 1st level is nearly finished being chewed through, meaning all the depth in the 2nd to 5th levels are probably just spoofs and will not act as resistance. Other times, big orders in a row will be real and act as resistance, but if the seller is big enough, they may just chrew through the size, which moves onto my next point:

It's watching what volume crosses the spread, or who is refreshing, or who is pulling an order and trying to get a feel for who is stronger.

Little games are played, like the guy hitting the ask may just stop, and pull his orders from the bid, hoping the sellers come down to sell so he can get better fills, before he will start buying it up again.

Many many little things like this, which then have to be added with things on the chart, as I alluded to in my earlier posts.

TH may have more to add on this, I'm off, all the best with the trading to all us useless galahs and irritants to the great traders that grace us with their omnipotent presence

 

[Cartman]

lol, you blokes crack me up.

Cartman don't take this the wrong way but f#%k your posts are hard to read sometimes.

----- thats cause i dont know what im talking about !! lol ----

ps the only thing i take the wrong way is a one way street !! --- everything else i digest and respond as seems necessary

would it help if i typed words in full instead of abbreviating ??

ie your instead of yr --- are instead of r ---- you instead of u etc ..??

im happy to do that if it would be better ?? (might take me a few more minutes per post though --- not a great typist

 

[CanOz]

Just one quick note on DOM, it does not just mean what is in the depth of market (which is what is sounds).

It is watching level 2 data, which shows you orders being pulled (can be important if all of a sudden a big level being defended with big size, is pulled, first to notice and execute the break of that level will be the biggest winner), or orders being pulled as price approaches. I.e. the 2nd level of DOM volume thinning once the 1st level is nearly finished being chewed through, meaning all the depth in the 2nd to 5th levels are probably just spoofs and will not act as resistance. Other times, big orders in a row will be real and act as resistance, but if the seller is big enough, they may just chrew through the size, which moves onto my next point:

It's watching what volume crosses the spread, or who is refreshing an order and trying to get a feel for who is stronger.

Little games are played, like the guy hitting the ask may just stop, and pull his orders from the bid, hoping the sellers come down to sell so he can get better fills, before he will start buying it up again.

Many many little things like this, which then have to be added with things on the chart, as I alluded to in my earlier posts.

TH may have more to add on this, I'm off, all the best with the trading to all us useless galahs and irritants to the great traders that grace us with their omnipotent presence

Probably been said before somewhere Mr.C but if i wanted to start and watch the DOM (booktrader), is it best to watch this and a live 5 minute chart of the SPI at the same time and see how activity reacts to levels on the charts such as S&R from Pivots, congestion patterns etc.?

Cheers,


CanOz

 

[nomore4s]

no its not the abb, its more the format you use

 

[Cartman]

Thanks ,

Like to see bogo apoligize to you , no need for that sort of rhetoric :nono:

nah its fine --- i certainly dont expect anything like an apology from Boggo ---- no hard feelings from me ---- but if someone throws crap, you cant just lay back and lie in it can ya ---- ya gotta share it around


hey Mirc --- more good stuff above ---thank you for the input ---- you have certainly raised the tone of this thread


NM4's ---- format ?? what am i -- a hard drive!! lol -- i'll see what i can do to improve; point taken; cheers.

 

[MRC & Co]

Probably been said before somewhere Mr.C but if i wanted to start and watch the DOM (booktrader), is it best to watch this and a live 5 minute chart of the SPI at the same time and see how activity reacts to levels on the charts such as S&R from Pivots, congestion patterns etc.?

Cheers,


CanOz

Absolutely, I believe TH watches DOM more at big levels, I watch DOM anytime regardless for order flow.

S&R from any levels, a pivot, the previous daily high or low, a level on a 30 minute chart, a large round figure (the following chart shows a level on a 60 minute chart (as seen with the two false breaks of it which mean big subsequent moves) and a large round figure), this level being 800 on the S&P, which relates to your previous question, I would watch DOM around this level, look for the asks refreshing if we reach it, or some big orders coming in to quickly thump the price down if it tries to push up through it.

 

[nunthewiser]

Long Gold anyone ?

ok seems it wasnt so constructive after all so far . but hey beats bein a galah anyday

Hi , i am nunthewiser and a chronic gambler ,

as one can see my call earlier was way off the mark re long gold ,But i have come to grips with my call and have matured as a trader .