Alexander
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Platinum Boarder
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tymoraPRO for eMini Futures - 2004/12/20 11:01
One question that seems to come up is whether tymoraPRO can also be utilized for trading emini futures and what would be the advantages if any available depth exists only in the form of anonymous indications of interest. Well, the first point to make here is that NASDAQ and NYSE stocks both also offer a great ability to hide as well. Institutions bidding or offering will simply appear as an indication of interest in the NYSE OpenBook. On Nasdaq, a market-maker could also decide to post through an ECN such as ARCA, BRUT, or INET. So in the end, to some degree, all quotes offer some degree of anonymity insofar as we may not know exactly who is trading. That is why action/reaction is so much more important than trying to figure out exactly who's doing what. Of course, every little bit helps, but if GSCO knows everyone is watching him, he may not be so inclined as to show up to the world and say "hey, I'm buying!" because of course, who in their right mind would sell to him. What he may try and do is push the quote through his "flash power" - that is... Show up sitting on an offer to try and pick up cheaper stock on the bid. Now, if we look at an anonymous trading system, we may not see the actual names, but we see the reactions. We see size. So we know that if someone comes in and flashes 250 contracts for sale, and the futures drop slightly and the 10 contract bid keeps refreshing, and now we start seeing traders taking out the 250 and bid sizes increasing, we begin to get an idea that a potential long trade opportunity is in the making. tymoraPRO seeks to identify such scenarios as well as many others. It also seeks to identify key areas and critical trendlines across many timeframes to also help identify where key turning points will identify. Add tymoraPRO's cycle-optimized indicators to this and you are provided excellent tools by which to find the ideal low-risk/high-reward points of entry into a particular trading opportunity - weather that be for stocks, futures, or forex trading.
One of tymoraPRO's latest new features is it's ability to map higher-timeframe Trendlines that you mark as important onto tymoraPRO's LevelChart so that you may easily keep track of it moment by moment at the smallest level where the actual action is occurring.
One other great feature to point out for emini traders is tymoraPRO's $ALRT and $ALRTT features that show how many total and positive/negative signals and alerts are being generated every 10 seconds or so. This gives a powerful indication of weather a potential breakout is real or not. It can also indicate if a move may be some sort of wild panic move - and provide clues as to the best point to begin fading those moves.
Also, you can get additional indications of overall market movement from the Sector Buying and Selling Alerts (on the !Sector WatchVU tab).
The VolumeByPrice (a form of Market Profile) features are also very powerful, and show you the strongest support and resistance areas by both up volume and down volume. Between this and tymoraPRO's TradeSpike indicator you can truly find ideal extreme entry and exit points where other traders are panicking and thrown for a loop.
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