What Is An Elephant Track And Why Every Trader Should Know Where They Are
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What Is an Elephant Track?
The elephant track is the trade of the institutional trader of such size that only a large trader could be on one side or the other of the trade. Why Should You Care About It? Institutional traders collectively have the power to move or stop price action, their trades often lead the market. You should care about their bias, their key price objectives so your trades are not counter to the direction they are headed. I'm Ready To Try It!
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Time Price Size of Trade | What Do They Look Like In The Market?Look at the print of the live tape to the left. Notice the various sizes of the trades. Depending on the specific instrument you are trading, the "64" sized trade might be a very large transaction-that would make it an elephant track.
The problem is the tape moves so fast you can't see these very well and you can't see any patterns. That is why we created the Elephant Tracks indicator for the NinjaTrader 7 platform. Help! I Don't Know What This Is (Click For More Info) |
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