Quote:
Originally Posted by Scotty B You're proving my point man. I have no idea what you mean by stacked orders. If anything you want them to be all in one place...Also, if your orderflow knowledge comes from experience, and then you supposedly see it on the chart then you don't really see it on the chart, you're just aware of it in the background. |
I believe Porkpie means "orders sitting at those levels" when he says "stacked orders".
Actually, I like the "stacked orders" metaphor very much. There is a guy called Sam Seiden who has several online seminars and therein he talks about this stuff (google him, they are worth a look). He started as a floor trader somewhere before everything was computerized, and he always mentions how he could literally see orderflow by looking at his desk and noticing at which prices level the thickest stacks of pending order slips were sitting... that was the important price level to watch, of course. Ever since I like to think of S/R levels as stacks of orders sitting there waiting to be triggered.
I still suck at predicting where they are, though
