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  #747  
Old Jan 16, 2010 9:20am
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Originally Posted by Scotty B View Post
Hmmm interesting..So what does it look like?
Retail traders using MT4 cannot see true order flow or support/resistence.

Fact.
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  #749  
Old Jan 16, 2010 9:38am
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And what do you consider orderflow to be?
Retail traders can not see any of the above in Forex, and thus, are "blind" to order flow and size of buyers and sellers. When you submit an order in Forex, your broker will either pass the trade through to the market, or actually take the other side... Thus, you are blind to the market, other than the last print shown and the charts you are watching. All of this is exactly why technical analysis is so vital in Forex, as outside of economic and currency related news (and analysis), the really only other indicators traders have is??? technical analysis. In essence, Forex is one of the purest markets for technical analysis, because it is indeed, blind.
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  #754  
Old Jan 16, 2010 9:50am
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I appreciate your thoughts on this and from your vantage point your are right. But you will have a heck of a time trying to make a living trading blind as you yourself stated. Price alone does not give enough information.
I trade full-time for a bank. So I see more than just price on my screens.

Retail traders using MT4 or alike are blind to the bigger picture including pending orders at interbank level.
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