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Behind Price-Orderflow
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Aug 31, 2009 8:09am
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Originally Posted by Scotty B This is probably the most imporant question aswell in regard to the topic and this is the crux: If we don't know who is ACTUALLY making the price tick up and down, then we cannot take advantage of orderflow. | I don't understand your logic on this. Why should we know that who's moving the price? It's totally unrelevant. | 
Aug 31, 2009 11:54am
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Originally Posted by Scotty B Okay guys..I feel like I am talking to myself here..I found a temporary free data feed to true Interbank orderbook data.
Dukascopy if I understand correctly, trades on the actual interbank network.
Here is a FAQ dealing with this that I borrowed from their website:
Do all the accounts have access to interbank Forex trading market?
Yes, all the accounts have direct access to the interbank Forex trading market via SWFX - Swiss FX Marketplace.
They allow individual traders to open an account with them for 10K minimum. Also in their platform, you... | I think every ECN uses its own internal order book. It only represents the orders made through Dukascopy. | 
Aug 31, 2009 2:21pm
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Originally Posted by Scotty B That could be so...but the one advantage we have in this small resource is that these guys do trade on the Interbank. Meaning, orders flowing through this orderbook have the ability to move the prices on the interbank itself. |
Those orders would be large enough to move the price? The retail market itself too small for that. | 
Sep 21, 2009 4:22am
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Originally Posted by Scotty B
Bloomberg is $1900/month, and to my understanding they show some level 2 interbank mkt depth. I'm still researching the possibility, I have not actually confirmed that yet.
| You've got a PM Scotty! | 
Sep 21, 2009 9:31pm
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Last edited Sep 21, 2009 11:14pm
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Sep 24, 2009 8:39pm
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Originally Posted by Prime#
I always felt they knew the who, why , and when and that is what I was trying to seek back then-- who, why and when. Order flow, price action, etc I felt was just a byproduct of the who, why , and when.
cheers | Sorry, but that would mean the ultimate Holy Grail quest. | 
Sep 27, 2009 3:18am
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Originally Posted by Scotty B So I'll take the points you gave Darkstar and flesh them out, but with a few grains of salt. | Quote:
Originally Posted by Darkstar So to make a long explanation short, if the system you’re trading actually has an edge, sharing it will be detrimental for you. If it doesn’t have an edge, share away because it may actually improve it.
Ohh, and if you do manage to find a real market inefficiency, do yourself and those who are already trading it the courtesy of keeping your mouth shut about it. The shiny red Ferrari it will buy you will boost your ego for much longer then the complements of your trading peers. | With a grain of salt... | 
Sep 27, 2009 1:34pm
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Originally Posted by Zkf This is not the "EDGE" DarkStar mentioned in his post.
Just like "Price action" when James talked about pinbar, insidebar,etc, it's a tool and how to use it is upon yourself. Although this thread enjoy so much popularity, the 95% law still rules.
Does oder-flow trading stategy perform betther than other methods? Different strokes for different folks: investers, TA traders, Arbitrageurs,Model traders all have their niche in market.
Regards,
Zkf | You're right. I don't think he would mislead us intentionally. We're too small to change market dynamics anyway. Shouting about 'retail' inefficiency like Oanda had back in 2006 could destroy the edge, but this is not the case. | 
Oct 3, 2009 11:26am
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Originally Posted by Darkstar Yup. The heart of the matter is that the MBT orberbook does not show real orders. It's a synthetic book managed by an trading desk. You'll see MBT customer orders ofcourse, but that isn't indicative of what the real market is doing. Durring NFP you'll see spreads on MBT blow out to 10+ pips, while the real market will only be at 3-5.
Just a quick FYI, the MBT orderbook is complete BS. Even if the entire book was consumed in one direction, interbank pricing wouldn't move. You may glean something from it, but it is unlikely to be of much benefit... | Darkstar about MBT. The Esignal tape does not contain traded size. | 
Oct 4, 2009 1:44am
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Originally Posted by Fudomyo I'm not going to comment on DS' statements or his motivation for making them. Whether it be about needing to have friends who work in banks, Onanda's data, or his personal opinion about MBT.
I trade NFP on MBT and have never seen the spread at 10P. It has always been on par with other market quotes and much lower than the market makers. I know they shade larger orders, but every broker does.... | We know that it takes months to get the feel of a new system, especially in the case of tape reading. You will run into a cul de sac if you were looking at an unreliable feed from the beginning, so I would compare it to a reliable source first. |  | |
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