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Strategies & Market Trends : SOES Trading

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To: Jay Morrison who wrote (1197)	1/17/1998 5:34:00 PM
From: desTROYer	Read Replies (1) of 1618

Jay, My type of trading doesn't generate alot of commissions. The office I referred to has a mininum $$ per day per trader limit. My system wouldn't reach that number. They did imply that I could rent the equipment from them for a daily fee, but by this time in the visit I had already ruled them out and didn't follow through. In my research, I can't find a winning method to following volume. I don't know why, I feel there should be one. I couldn't find one. Seeing the bid/offers is helpful 90% of the time. If you read back through the earlier SI SOES posting - you'll see alot about big time swings in the price wiping people out. I would GUESS that they were using the bid/offers to determine their position. Then one of the big traders switched their bid to an offer and down went the market. The classic book "Reminiscences of a Stock Operator" by Edwin Lefevre has alot of examples of this. I found the biggest thing about a level 2 screen is information. It has alot of it and it is coming at you fast during a move. Then during lunch(1 example) it almost stops. I find it very hard to adjust to the slow down after gearing up. The new generation of level 2 software is suppose to be light years ahead of today's software.

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