jsmooth
Registered: Apr 2005
Posts: 458 |
10-06-12 05:17 PM
For those that trade CL using the tape….What type of size do you look for on the DOM during the trading day and how do you react to that? My basic question is, if you see a large order – lets say a 150 lot posted that is 5 cents away from the last – how do you react to that type of order. Obviously, (if) that’s a “real” order you should be bidding in front with stops back into that size, and force him to goto market and buy at higher prices and you sell into that with a profit (that’s how they did it on the floor back in the day)…How do you look at that now on the screen? I’ve found that you can find pivot levels when you find those levels and try to see what they do with those larger orders…they may be trying to “fake out” and be a seller into the buyers that come in, or they really need to buy – once those buy orders get filled though, the market will make a nice push below that to find a different level of balance. My question, does anyone have any tips, or pointers on what they look for when looking at the “tape/DOM” in CL? What type of size you look for, what are your thoughts when you see big size? I watch T&S, but it seems like that cant give you the real picture because large orders will get broken up into a lot of small trades on execution, so watching T&S really doesn’t tell the whole story…
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