You think CL moves fast? Trade Heating Oil or RBOB Gas. Those make crude seem like it's trading in slow motion.
No, you are right. I'd go back and edit that out if I could because that was just a brain fart on my account.
Pls explain why you wouldn't be able to win if you could figure out what these major players do and then piggy back their trades? Nevermind, don't explain.
Clearly, you would win. Unless you have moles in their operations, YOU HAVE NO IDEA when "they" will buy or sell..... But you can try to figure out like we have with one of the inputs into the Price Driver program....
It does seem like some of these anti-even-the-possibility-of-working-TA posts assume there are only two classes of traders: 1. Extreme "insiders" who control the markets and make a ton of money 2. Everyone else Talk about simplistic. I have worked out a price action system where I am what I think of as "the smartest dumb money". I never try to catch an exact top or bottom and it works just fine. I hit a lot of singles and doubles and the occasional home run and I rarely strike out (my winning percentages are typically in the mid-60% range) and my average win is nearly twice the size of my average loss. So I totally agree with you that this type of trading is viable and can be done just by watching the tape and price movements.
It's not that hard to figure out, either. PA/TA is the ultimate "inside" information. I know I've posted this before, but it bears repeating often: The major players can't slink around trading behind everyone's back. They leave big footprints. Learn to identify what it looks like when the herd of them starts moving to the next watering hole and catch yourself a free ride. These birds are sometimes referred to as "tick pickers"
That's cool.........I just wanted to double check. I use stop limit orders to initiate positions. Never thought about priority because of the way the orders go in.
You know, I thought about it a little more and I think the time you enter it does matter for priority on your broker's server. At least, when I enter an order, there flashes up a number and it is always the letter "N" and then a number following it, and the number is usually a number near the beginning of the positive integer series, i.e. 1,2,10,33 or something similar and the earlier I put in the order, the lower the number. I think that is your priority for being sent as a limit order to the exchange. From there, I guess it is just a race between your broker's ability to send limit orders and another guy's broker.