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Reading Order Flow


Been lurking these forums for a while now, but anyway... I've been searching for ages about how to read order flow from just the order book, but information out there seems pretty thin on the ground. I was on youtube today searching for some videos about it and I found this



Anyone got any idea what he did to take the trade in the video?

Cheers
Ok so i emailed him asking about market delta and his response was that it's just a gadget and nothing more. He says cumlative volume is only a very small part of the story and needs to be combined with the bid/ask. He said the reason why market delta is rubbish is that apart for a few other indicators, it's just cumlative data which any decent front end will show you anyway, and then ontop of that it shoots itself in the foot by suffering from frame trap (anyone know what that means?) He said that if market delta was as useful as retail traders say it is, then the whole city would be using it as the standard just like CQG and TT are the standard for professionals in the city.


I asked him if he just fades s/r and he said no. He said in the videos he is just fading s/r levels because of the current market conditions, and that was the point of the video, to show that if you learn order flow properly and learn to adapt with the market, then you can make good money consistently regardless of conditions. He said to trade properly you need to fully understand orderflow and how orderflow works in different market conditions so you can adapt if market conditions change. His said most retail traders will be sat about looking for trends all the time and not acknowledging the conditions and not adapting to them with their one size fits all approach. He finally ended the email with that professionals essentially just profit from the ignorance of the masses who think they know better.

Interesting...
Originally posted by Lynx

Ok so i emailed him asking about market delta and his response was that it's just a gadget and nothing more. He says cumlative volume is only a very small part of the story and needs to be combined with the bid/ask. He said the reason why market delta is rubbish is that apart for a few other indicators, it's just cumlative data which any decent front end will show you anyway, and then ontop of that it shoots itself in the foot by suffering from frame trap (anyone know what that means?) He said that if market delta was as useful as retail traders say it is, then the whole city would be using it as the standard just like CQG and TT are the standard for professionals in the city.


I asked him if he just fades s/r and he said no. He said in the videos he is just fading s/r levels because of the current market conditions, and that was the point of the video, to show that if you learn order flow properly and learn to adapt with the market, then you can make good money consistently regardless of conditions. He said to trade properly you need to fully understand orderflow and how orderflow works in different market conditions so you can adapt if market conditions change. His said most retail traders will be sat about looking for trends all the time and not acknowledging the conditions and not adapting to them with their one size fits all approach. He finally ended the email with that professionals essentially just profit from the ignorance of the masses who think they know better.

Interesting...


Thanks for sharing. I would disagree with his statement about MD being 'junk', and I know several large pros (inst.) who use MD/IRT. But everyone is entitled to an opinion. His last statement about pros profiting from the masses is pretty right on though.