Several months ago a friend forwarded me a link to www.sceeto.com and suggested I take look at the Order Flow Monitor developed by Carl Weiss, founder of Algo Futures.
With the advent of High Frequency Trading dominating the market, I had reached the point where I was tired of “raging against the machine”. I realized the market has changed. I had been thinking for some time that if I was going to compete in this new environment of High Frequency Trading, I needed to improve my tool set.
After several long conversations with Carl about Order Flow and micro-market structure, I was convinced Carl was on to something. By harnessing the power of the cloud computer, Carl has attach the problem of determining impart of HF T trading on order flow direction by using “brute force” (http://en.wikipedia.org/wiki/Brute-force)
Boot strapping (http://en.wikipedia.org/wiki/Bootstrapping_(statistics)) thousands of combinations of High Frequency Trading Algorithms, Carl has created a series of algorithms designed to detect the presence of other algorithms.
Carl’s approach is revolutionary. His has come up with a method of plotting the results of the sceeto output to Ninja, Trade Stations and Sierra Charts.
I have been using …sceeto, along with my volume at price charts and have found the results to very helpful in reading the order flow direction.
I strongly recommend you take advantage of Carl’s sceeto application and register for a free trial.
The research that sceeto provides has previously only available to a few high volume trading firms. Carl’s research deserves the support of the electronic trading community. It is my belief that in this new High Frequency Trading environment you’ll be at a disadvantage without it.