Metro Bank Share Discussion Threads

[phil2003] 03/6/2020 23:43

I’ve tried most of them.. been with IB, Interactive Brokers for years now, super quick.

[pione3r] 03/6/2020 23:42

SR

Perhaps the best explanation here if you're considering order flow trading

hxxps://optimusfutures.com/tradeblog/archives/order-flow-trading

[pione3r] 03/6/2020 23:40

Never used Ninja Phil. I know that guy has access to other data. He said ZN is the edge for indices.

Don't know, not there yet myself.

[spartan attack] 03/6/2020 23:38

Never tried ninja

Just tradingview and sharescope

[phil2003] 03/6/2020 23:38

SA, sounds like we’re on the same page with those.

[spartan attack] 03/6/2020 23:37

I do similar with rsi, money flow and volume in that box.

I don't know how to do that around the world re matching all. So i just use the likes of bookmap for America etc to try confirm the money is reading right and so on

[phil2003] 03/6/2020 23:36

Ninja is a rip off, basic doesn’t even have live quotes!?!

[pione3r] 03/6/2020 23:35

For order flow/depth of market, guys recommended

Optimus Futures
Ninja trading
Jigsaw

I liked Optimus. The most advanced guy uses Ninja.

[phil2003] 03/6/2020 23:33

SA, I layer a number of indicators onto my MACD and MA (obv + Volume to gauge conviction) but ultimately I’m trying to match the indicators on as many trading platforms around the world as possible and I’ve done a fair bit of digging with some city types.. best to keep indicators relatively simple imho.

[pione3r] 03/6/2020 23:32

SR and Haw

hxxps://www.investopedia.com/articles/active-trading/021915/how-important-tape-reading-modern-markets.asp

[spartan attack] 03/6/2020 23:29

Is this a strategy that uses liquidity levels as SaR with MACD?

[hawkind] 03/6/2020 23:28

Thanks Phil, makes a lot of sense. I will look to follow my friend, but hands up, not sure I am going to make a good indices trader.

[spartan attack] 03/6/2020 23:23

buying on MACD (likely whipsaw) Breaches of support.

I don't get that Phil

[hawkind] 03/6/2020 23:23

Pione what's a tape reader, I and SA would like to know?

[phil2003] 03/6/2020 23:21

Hawkwind, i think using (reversal signal) kangaroo tails to pinpoint reversals on indexes (vs. Equities) might be your problem, I suspect you’re trying to nail the underlying trend change on a whole index by using kangaroos on too low a time frame?

Using kangaroos as reversal indicator on indexes on the (imho) correct timeframe (weekly Candles as absolute minimum) gives you such a big trading range on the hourly/dailies you’re going to get whipsawed out most of the time if drilling down into smaller timeframes to pull the trigger on your contrarian trade.

I’d suggest avoiding any top/bottom fishing approach on the indexes (great way to blow your account imho), always trade with (your friend) the trend, buying on MACD (likely whipsaw) Breaches of support.

When you’ve got enough practice amd a support and pattern forming across numerous timeframes you can pull the trigger knowing it’ll turn a profit most times.. just the best feeling

Hope that makes some sense.

[spartan attack] 03/6/2020 23:18

I don't know wtf tape readers are on indices

Maybe some software that aggregates the entities buy/sell preasure or something?

[spartan attack] 03/6/2020 23:17

On the weekend il do a hunt for good footprint software in buy/sell pressure. If one gives minimums like 400% il give it a whirl for a laugh

[hawkind] 03/6/2020 23:17

I thought L2 was just for shares and seeing how order flow was stacking on pre order book. I didn't quite get how you see order flow on indices. What are tape readers? It is clear, I am a beginner on indices.

[spartan attack] 03/6/2020 23:14

Chartist and fundamentalists are not seeing today what they expected weeks ago

[spartan attack] 03/6/2020 23:14

Is there any software out there today that's actually good at picking up imbalance now?

[spartan attack] 03/6/2020 23:12

Don't know. Everyone different really

[hawkind] 03/6/2020 23:10

Do you think IG or any other spread betting firm manipulate so traders lose, or is it purely what the underlying market is doing? I find it strange that I can watch indices for a while and they don't move much and then as soon as I place a trade it feels like it then moves fast in the opposite direction. Really thinking of sticking to share trading.