Thanks for the good wishes. About 250 of them actually traded, in 6 shots, according to my T&S. Took all of 3 seconds, so that wasn't a spoof, that was a real seller - and not a good one to lean on ;-( Too fast to react to, so no good for fading from below. What do you think of putting a stop entry on one tick above size and then trying to scalp 3-4 ticks of the spike after size gets chewed through?
There is risk with that approach. The DAX can jump 5 points (10 ticks) so fast, i.e. one print on the screen, that slippage will become a real issue. You could be buying 3-5 points above where your stop is placed and in the next pulse the DAX will be 3-5 points below your buy. Watch the DOM and you'll see what I mean. Perhaps if you used "mental stops" so you can try to place a limit order a tick above size when it turns. In my experience with the DAX, stops can turn a winning trade into a losing trade real quick. The DAX is merciless!!! XC
qazwsxedc, What platform do you use for trading? I use X_Trader and I have the live updates, not the 1/4 second pulse updates. It shows the games that traders play with book size easier, imo. It's incredible the size these guys put in the book, only to cancel the order, or in hopes that their order on the other side of the market will get hit. For instance, I just watched the offer build to 100, 3 on the bid, 2 lots trade on the offer and then the market flips.... on a 2 lot trade. Make sure you don't have a heart condition if you want to trade the DAX. xc
I've seen it do that after figures, but the book thins a minute beforehand so you can see it coming and cancel resting orders. To sweep 10 ticks otherwise you'd have to hit 300+ lots with a market order and not care about the average fill. Who does that? (Not saying it'll never happen, just curious.)
I am not sure who does this, but it is related to 'stop running'. Like I said in all my posts here, the DAX is not for the faint of heart. That type of activity can happen at anytime, especially if it is outside the daily range that is set up to that point. Best of luck, XC
I see what you mean. 08:35:04 CET. Printed every price on the way up but jumped 3, then 10 ticks on the way down after whoever fat-fingered this one had cleared the book. Ouch.
Another thing, watch the 5 minute range when the cash market opens at 9:00 cet. That can be highly volatile as well. XC