Good quote from Scotty:
I think the guys who trade orderflow have more than rumors. If you are not trading with a chart you are trading with an orderbook as Sk has confirmed when I asked about volume data or orderbook data. If you don't have real information about real orders, than this whole orderflow thing can be boiled down to simple price action, S/R, and pattern trading. If there are no orders to view, then you are not trading orderflow.
Quote from the OP April 30TH 2009
When i enter the market(I'M A TREND TRADER)i am looking for an entry with the least possible risk i can(i'm not psychic i can only use price as a guide).That means entering the trend at the best price possible.
I guess an example would be,if you went down to the supermarket and purchased bananas you know roughly what to expect.If the price tag displyed 10.00/kg then you would shop elsewhere as you know better,thats a damn rip off..
Only a few months ago the op was a trend trader and now on his profile page his preferred method of trading is: Front running.
So in a very short time he has become proficient enough to become an orderflow front runner?? Surely it's not that easy as the whole trading community would know making it obsolete.
Quote:
Originally Posted by
hensch
Just my opinion, but I think what we are trying to read here is how to ride on the market movers coat tails, not trying to predict what the may be doing.
So we still have to let the dust settle and discover the missing pieces of this puzzle
Originally Posted by
hensch
Just my opinion, but I think what we are trying to read here is how to ride on the market movers coat tails, not trying to predict what the may be doing.
So we still have to let the dust settle and discover the missing pieces of this puzzle.
quote aston dan:
Apologies, my misunderstanding then.
If that is the case, then to be honest, i fail to see how this takes us any further beyond Price Action 101.
For me, the value on reading order flow is in being placed to front-run the orders which actually move the market.
quote op:
when you get congestion forming,then wait till the market shows its hand,if you cannot see the hand crystal clear,then fold.
You need to understand the WHITE SPACE and what's in it.
congestion forming, white space.... front runners don't use charts do they?
The OP has said he has been busting his nuts pouring over charts for hours and hours, surely you would be busting your nut over the orderbook and the tape wouldn't you, after all this thread is about 'orderflow' isn't it.
to quote hensch:
Just my opinion, but I think what we are trying to read here is how to ride on the market movers coat tails, not trying to predict what the may be doing.
not orderflow trading, not front running just coat tailing the pros after the market has showed her hand.
Cheers J