Hi FuturesTrader, You're absolutely on the right track, but I'm not exactly sure how to articulate my thinking. Perhaps if I give you an example you will understand my convoluted logic? Take the YM. My VP starts on 1/12. This was the start of the preceding intermediate swing down (to 1/20). So I include the data from this swing and then the current up swing. If we take out high I will drop off all history up to and including 1/20. Does that make sense? You can usually tell when your VP starts getting stale because the levels no longer as well. Out of interest what other products are you looking at? bolter
Whitster, Great first post on ET. I'm going to add a line chart to my screen and watch for TICK "hooks". Excellent point. In the days before the internet you would call your floor broker and tell him to hold the phone up so you could hear how much noise was coming from the pit at critical points. Can you recommend the one you have? If so URL? When I was daytrading previously I used to use MarketCast - but they're no longer around. b ol ter
http://www.realtimefutures.com/ has a free trial. you can try the "raw" pit noise and/or the version with a barker who talks over the pit noise and lets you know who is buying and how much... i like MP because it is pure price action. pure supply demand. i feel the same way about watching TICK, TIME/SALES and listening to pit audio.
whitser, Ahhhh, that's this Ben guy! I've heard about his call. I've just signed up for a free trial. Much appreciated.
OK. Your explanation makes sense. This is how I was looking at it as well, but I was taking it back to different dates, noting the levels and then proceeding to the next swing date, noting those levels and so on. I then try to filter out what looks like a benign level based on how it has traded since the start of the profile. It seemed like a lot of work, but I think it is close to what you have. Unfortunately, CQG doesn't give me the exact numbers for volume to make a numerical study of it. CQG only provides % of total for volume and doesn't allow exporting of the data. My nightly homework consists mainly of looking at the FDAX, EuroSTOXX, ES, YM, ER2 and Euro. I started to look at the ZB, ZN, Bund and Bobl last weekend. I don't trade all those products; just the index futures. However, if I can detect a pattern in the other contracts, I would like to be able to take those setups in the future when they occur. Thanks for your reply and best wishes as you go live.
Super thread, bolter. Thanks for starting it and being there to maintain it. Can you please post your Matlab code for creating the VP? I'd like to code up a similar thing in Ensign or Esignal and wanted to see the logic. I'm also going to look at Quotetracker for their MP charts but I can't even connect it to my Esignal feed. --opm8
Whitster - Quick question re: pit commentary. I am thinking of signing up but noticed they have several different flavors of SP commentary. Any feedback on best commentators or differences between them. thanks.
i like ben's commentary and i like the raw S&P pit too. frankly, i don't think i've quite figured out how to interpret the data from ben's calls, but even @ this point it's helpful. the raw pit is definitely helpful on interpreting moves, and even predicting them at times.
Good call today bolter. I actually missed your prognosis this morning because I got in to work late but my system told me to buy the 1283's. I did but only took it for 2 ticks. Boy was I disappointed. But, the good things that came of it were: 1) I proved to myself that I have my system working 2) I didn't jump the gun like yesterday So all it takes now is a little patience and confidence so I can get better exit points. Thanks again for getting me interested in using MP for futures. I believe it will add quite a bit to my trading repetoire.