TraderInterviews.com: Hello everybody and welcome back to TraderInterviews.com. Thank you very much for joining me for another show this week with another trader, we're going to talk to about his approach to the markets. We're going to be speaking with Mike Toma and we actually interviewed Mike some time ago, but I wanted to revisit him and talk to him about any changes he's made to his strategies based on high frequency trading or any other issues in the market these days. So, Mike thanks very much for joining me on the phone today.
Mike Toma: Hi Tim, great to be here and it's good to be back at TI, it's been a while?
TraderInterviews.com: It has. Well, so for people that didn't hear your first interview maybe over a good year ago, talk about the kind of trader you are, what do you trade?
Mike Toma: Predominantly the ES, E-mini futures. I will dabble in some of the ZB, ZN bond trading, the bond futures. I do kind of get exposed to some other areas whether it would be some of the options or the ETS, but for the most part I'm an E-mini futures, ES trader.
TraderInterviews.com: Now bond trader, that's unusual. You don't hear a lot of short term traders trading bonds for whatever reason. I think they just don't feel like they know that market enough, what made you to decide to trade some of that?
Mike Toma: You know Tim, neither did I. It was that trader's expo, I think it was last February or something, and I sat in one room for a bond seminar. I think I was in the wrong room by mistake, and I'm looking and say, "You know what, these setups are pretty good, and they trade clean." Most of my setups I require sort of clean flow of order flow and clean price action and I'm looking at these and say, "Let me do some back testing," and so I subscribed to some of the data feeds for the bond futures and I looked and it's...
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