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Trader Profile – April 28th, 2006

April 28, 2006 in

Who? – Scott P.

What part of the world do you trade from? – Chicago, IL

What markets do you primarily trade? – Emini S&P, Euro vs the US dollar, Crude Oil

How long have you been trading? – Worked at the Chicago Board of Trade for four years as an arb clerk. Then I stared trading at Kingstree Trading and have been there for close to five years.

How do you use MarketDelta? – I use it to watch volume at certain levels to see if the move is legit.

What are your favorite ways to apply (methodologies/strategies) MarketDelta? – You can also get a good idea of how many certain locals have been loaded up with by using the Delta feature.

If you had to pick one breakthrough or ‘ah-ha’ event that played a huge role in your trading, what would it be? – I lost money everyday for my first month and a half then one day it just clicked and I started making money everyday by watching order flow and getting an idea what “paperâ€? and the “localsâ€? were doing.

Any other useful trading information or strategies you would like to share? – I think that MarketDelta will be even more important at the CME beginning on May 1st when they do away with counterparty information. It will be much harder for large locals to manipulate the marketplace because they won’t know who is feeding them the orders anymore. And the more legit the order-flow the more useful a program like MarketDelta will be as far as determining market direction by volume.

If you had to make one prediction about where trading is heading or where the most opportunity lies, what would it be? – Unfortunately for the small local trader, I think trading is going to become more and more automated and the “edgeâ€? is going to be harder and harder to come by. That’s why I began using tools like MarketDelta, to give me another type of edge as far as being able to tell where the market is likely going to do by reading volume and how it comes in at certain levels.