We have lots of experienced traders on MoneyAM who would be glad to help if you have any trading questions.

FirstCall - Jarvis is now a SETSMM stock - when AT trades go through, the moneyam stats add the trade to the side of the person who took the order rather than the person who advertised it.

eg - if a share is trading at 98-102, and croc adds a sell order at 101 which I buy, moneyam will record that as a buy @ 101 in a market thats quoting 98-101, whereas in fact it is both a buy (from my perspective) and a sell (from croc's). If you are trying to second guess the MMs, then you need to eliminate the AT trades, and just look at the 'O's - but bear in mind that an MM can also trade with AT trades if he wants to.

Frankly, the entire exercise is pointless - but people like to do it, so moneyam give them what they want.

Most of the trade types are here http://www.snappytrader.com/info/info.htm#types
Market Makers do hold long or short positions but they are a canny lot and you can bet they do so at a minimum risk. That means not holding great amounts unless they have a buyer or seller to cover them.
Thanks Gausie, better explained than my attempt!

Gaussie

Quote, "Frankly, the entire exercise is pointless." LOL you may well be right, But newbies like me are always trying to learn, what effects the market. Nothing beats learning the hard way. Or does it?

Thanks for your answer.

Croc, I copied the trade types listed in snappytrader. The k and P I didn't understand, and the VW and BC I didn't find? any clarification in simple English would be appreciated.

VW is a volume weighted trade - ie a trade where a broker has picked up or disposed of stock in the market at varying prices and then fills his client at an average price weighted by volume (VWAP) -

Here's a likely scenario:

I tell my broker to sell 100,000 FKI at the best price he can because I'm convinced they're going down cos they're pants! (you need to subscribe to the Traders room for more detailed reasons) He sells 25k @ 120p, 50k @ 110p and 25k @ 50p - all in the space of an hour.

The VWAP is ((25 x 120) + (50 x 110) + (25 x 50))/100 - so in the trades you see him settle with me with a trade of 100k @ 97.5 marked as VW.

I then cover FKI at 40p (my target) and everyone's happy.

;o)

Especially you Gausie!

Can anyone please explain how a buy [RTD] at 18.75 on level 11 can be discounted by as much as .08 Is this a deliberate attempt by the money makers to keep the price low?
Also no many how many shares are bought the figures on the buy side never move.

Thanks in advance.

When I look at L2, I always enter a figure in the filter as there are orders which are there to distort what you can see and this removes them!

At the end of the day a MM is there to make money - and they do sometimes play against each other.

Thank you little woman

Can you please explain how I can use the filter as I cannot find one on the level 11 screen and what figure would you use. Is the filter on the level two screen?
Thanks again

washlander, trades inside the dislayed bid offer spread with no associated trade code are often trades executed via a retail service provider and are often small trades (NMS or below). If you use an execution only service like comdirect or idealing, you will almost go through an RSP or 'price-improver' although the 'improvement' in price is often modest.

Washlander - I presume you have Moneyam L2 screens? On theirs (I've not used anyone elses so don't know if they are the same) above the actual orders are the words BUY ORDERS Filter (%) & SELL ORDERS Filter (%). Next to both is a box - you can enter a number in this box and as you do it watch the change at the bottom of total orders & depth. Some shares you can use whole numbers, whereas others you need to use fraction. Just experiment.

Firstcall.
The sentence was 'It should jump out at you'
Make of that what you want to....
ZOLTAR

Thanks Dominic.
Hello Little woman. I have level 11 [i paid for the top service with moneyam]. However I do not see anything on the level 11 screen other then the edit display that I can enter anything in. This only appears to allow me to change the default colours.
Sorry to be a pain.

Washlander - can you see the words "BUY ORDERS filter(%)?

Washlander. On the image above you will see 2 white boxes under the yellow strip on SETS stocks only, these are the % filters for the order book.

Mike

Just click your mouse in the box and you can then enter a number

I do not have that on mY screen. Is that because I am lookig at RTD? and not at a blue chip stock.
Thanks again.

Washlander - yes. It's not on SEAQ stocks.

I was caught out with this one, though. You just put in the figure in the box (on SETS and SETSMM screens only) and it automatically cuts out the prices below that figure. I tend to use 1 or 2 per cent for quick day trading, to show just the offers and bids that are really interested in the current price or thereabouts. It depends on the likely swing in the next five or ten minutes or so; I gauge (guess) this from the five-day charts. For longer-term trades you will probably need a considerably larger figure.

Zoltar

Quote: "It should jump out at you"

Very enigmatic.

Has it really made a difference to your trading?