Put up a OTR (One Tic Range) chart For your convenience. they usually will shown time divisions that correspond to your bar chart. Use P and V for both. Also watch three streams: DOM 50+ T&S and All T&S. You will begin to notice the market's capacity as the day goes along. As the market comes into focus, you can see when you have to use partial fills. I put annotated rays on my volume for the bar chart. The rays are arranged to show relative volume ranges which indicate the PACE of the market and it's current capacity. For me, timing is a higher priority than price. You can see that a very good percentage of orders never get filled and those people miss their trades at market turns. In another thread someone is experimenting with tic movement and this shows nicely on the OTR tic chart. The concept of reversion goes away (mentally) fairly rapidly when you run OTR charts. You will see often that there are two tic pairs alternating and one is domimant. Use the volume associated with the dominant side to get your trade size that is possible, especially at the time the dominance reverses as a turn is being made. you can use up to five partial fills in rapid order without fear of price movement. You can see if odd harmonics (spiking) or even harmonics (saucers) are the primary periodic at play. there are fewer second chances on odd harmonics. for ES there are fairly reliable data on the pace vs time of day and the corresponding price velocities at those times.
thanks Big AAPL Jack, what thread are you referring to: " In another thread someone is experimenting with tic movement and this shows nicely on the OTR tic chart." some analysis of trade size: http://www.marketvolume.com/content/products/mktsum/mktsum_cft_quotes.asp?
Here is honest feedback - if you even have to ask these questions, you have no business trading ES and certainly not 30 cars. ES can absorb 50 contracts in a micro-second during regular trading hours and most of the time outside that you can still get filled at 50. I strongly suggest you pull a DOM and look at the liquidity.
Was the question, "should I try trading 50 contracts at one time, or break up the order into two parts"? Of course, we always get the usual response from self absorbed wise men telling the poster that they should just go back to their regular day jobs since they asked this question. Most of the replies simply answered the question. But then there is always the poster with the ego, which has to be self fed to continually attempt to beef up that inferiority complex, by offering their learned opinion. The guy did not ask your opinion if he should trade 50 cars at one time. Nobody cares about your opinion if he should, or should not. Go feed your ego someplace else.
You should look in the mirror before you point fingers. This type of judgemental attack and insult is just a reflection of your own big ego/low self esteem. Who are you to speak for "nobody cares" - you think you speak for the majority? Who appointed you judge and spokesman for ET? And you should learn to read more carefully. The OP clearly asked for "honest feedback and experience". That is what he got, from my own perspective. It makes no difference if you don't like it. If my comment in any way prodded him to exercise more caution and learn more about trading ES before he gets his head handed to him at $625 per tick, then it was appropriate and well-intended. I stand by my motive to help and the unvarnished truth conveyed.
Hi Wallace, I was just passing through that thread. I believe the OP was Maestro and he was phishing for an explanation of how phenomena that doesn't exists works. He was making an association with spreads, MLR std dev, and MLR's and it was in a relatively illiquid market situation. I should learn how to go get link data and cut and paste it.
That is not what I said. I said the ES market can handle the order easily from a liquidity standpoint. You are mistaking ease of execution for safety. Just my opinion, you asked for feedback.