Discussion in 'Trading' started by jfilla, Jul 14, 2009.

  1. jfilla


    400 pt move in 15 seconds on HSI a little after second open.

    I always thank God everytime I dont get burned in one of these...

  2. mokwit


    What, you mean you didn't effortlessly buy at the start and sell out within a few ticks of the high (or the high itself) like everyone else?. This is ET after all.
  3. jfilla


    LOL, I actually did have a buy order right at 17675 about a minute before mokwit, but I didnt get filled and didnt want to chase since tonights session didnt really have any follow through. About 30 seconds later, it blew up.

    Doesnt really matter though, cause I would have only been trying to catch the move to 17700 and would have been out before it ran anyway.

    Such is the actual life of a trader.....
  4. jfilla



    I assure you I was stuck to the screen, and there wasnt a damn thing anyone could have done to get you out of that trade. That's a 100 tick chart you're looking at. Literally 15 seconds.

    If you hit the buy market button to cover a short it would have been at the top. Sometimes, the only way out is sheer luck(as in you are one lucky bastard that market came back down)

    Break a man indeed...
  5. If you already had a buy stop in that bar would you have got your price.....were all the buy stops already in the market filled at their price.

    Yesterday there was a 400 point spike down....Is this the new market with the quaints and algorithms in charge. Since they have the software to get into a move like this. Do they all sit there and just wait for the 15 second move to pound the market.

    What was the volume of this 15 second spike, how many price prints were there?
  6. kxvid


    Awesome. Gotta try my hand at that market someday. Maybe when I'm old enough for IB to give me an account.
  7. jfilla



    It wasnt a buy stop, it was a limit order I had under the market after it had moved to around 17685 or so. I was looking for a retracement back into the 75 before a secondary push to the 100's. Obviously, it never retraced.

    There were probably 40-50 prints after 17720 or so. So, from 17720 to 18071, you didnt have many chances to breathe. Im sure any buy stops got executed, and if they were buy markets the slippage was probably in the 30pt range or so. The move Sunday you referenced was similiar.

    I dont think its quants, I think its just a thin market the last few weeks. Even late into last month, there was good volume buying and selling. The market could absorb 200 lots with very little movement. Now, seems like mostly just retail and small desks running stops back and forth, so when a large order does come in, it moves the market big time.

    It could be a lot of things, HF's taking the summer off, indecision from buyers and sellers on what the next move is, who the hell knows.

    FYI, there were about 2000 contracts traded in that 15 seconds, which when you consider each of those bars has an average of 400-500 contracts, isnt really that excessive. Plus, most of that volume was on the way back down, as there was heavy selling once it topped out.
  8. Thanks jfilla, nice to have a snapshot of the internals. If a buy stop only got ran buy 30 points I think that is amazing.
    In the old days of pits, all the stops would have been filled at the top of the move.
    With most volume on the downside it says that there were longs waiting, of course there was an uptrend.