high volume ES trades, no range, how come ?

Discussion in 'Index Futures' started by Wallace, Jan 7, 2013.

  1. usually there's a H-L / L-H range of 1 to 3 points when multi-thousand volume 'orders'
    enters the market - less than 10K
    but Large orders hitting the market near the Close don't seem to move the market at
    all – how come ?
  2. Handle123


    Near the close there is offsetting orders of firms/large traders going flat for the day and unwinding/readjusting of hedges as well. But if market has been trending nearly all day in one direction or the other, can expect at New York close the ES to be at extreme of the day session range to screw the traders first entering on longer term trades based on getting in on that close. Often times I will fade at this time for a quick 4 ticks but it has to move fairly quick otherwise I will scratch the trade and try it again at quarter after the hour.

    The open high volume is often better times of the market moving in erratic swings.
  3. ktm


    You also have desks banging against each other. If they have clients that want to get long/short, the guy at the desk might find someone on another desk to take the other side, then they enter orders at about the same time. This is a win/win because both sides get the orders off without much slippage.
  4. Handle123, yes, had the idea it was something like that, but no range !
    if an order that size hit the 6E during any part of the day it would bing the price 150 pips
    no problem; mind you the order probably wouldn't be filled in 1 minute

    I keep thinking it's something like market makers exchange orders without the orders
    going to the floor so not affecting the current price, but how can they do that on Globex ?

    ktm - lol - you read my thoughts
  5. That is against CME Rules so if that does take place it is not a frequent occurrence.
  6. ktm


    So is front running, pegging, gangbanging and a whole host of other "prohibited activities" that are quite regular occurrences.
  7. Well then give it a shot...

    Be sure to give me your name so I know who you are when you are in the CME Member Update.
  8. ktm


    Why do want my name?

    The OP asked a question about what was happening...and I gave him one scenario that occurs.

    I didn't say I do it, nor did I say that I even condone it...nor did I say that I condone any of the other activities I mentioned.

    Why is it these days on ET that nearly any time someone asks a question and someone tries to be helpful...that some d-bag with his panties in a wad comes in to pee all over the discussion?

    And people wonder why so few knowledgeable traders step forth with any info any more around here...well...there's your answer.