Hi mahavir,
Ray's 'Tape Reading Course' covers the basic which apply to all markets (including spot FX), but on the Order Flow side of things it is based upon the Micro E-Mini Index Futures.
MT4 doesn't have the features to enable examination of Order Flow the way it is used by the majority of professionals - it is a Broker's platform, not even a good one for retail traders, but convenient for Brokers since itis free and can be supplied with cheap data.
Ray talks about more than 2 lines, however for each market (including Spot FX currency pairs) there is one or 2 main correlated markets (not other currency pairs) which he calls 'Value Lines'. These enable us to have roughly 70% correct bias as to in which direction the main move of the day will be - though we use 'Order Flow' and 'Wholesale Price Levels', Price Action and Volume in order to get the best Entry and Take Profit areas.
All the course sessions (both for the 'Tape Reading course' and for the full course) are recorded and can be viewed whenever is convenient for us.
The Charting/trading platforms that Ray shows are: TradingView (the white background screens) and Sierra Chart (the dark background screens).
TradingView is also used by retail FX educators such as BKForex. We only use it for 'the bigger picture' and for our 'Value Lines'.
For professional style Order Flow, a more sophisticated platform is required (together with a paid for data feed). As alternatives to Sierra Chart NinjaTrader, Jigsaw tools and Bookmap are other platforms used by some of Ray's students.
Ray's 'Tape Reading Course' covers the basic which apply to all markets (including spot FX), but on the Order Flow side of things it is based upon the Micro E-Mini Index Futures.
MT4 doesn't have the features to enable examination of Order Flow the way it is used by the majority of professionals - it is a Broker's platform, not even a good one for retail traders, but convenient for Brokers since itis free and can be supplied with cheap data.
Ray talks about more than 2 lines, however for each market (including Spot FX currency pairs) there is one or 2 main correlated markets (not other currency pairs) which he calls 'Value Lines'. These enable us to have roughly 70% correct bias as to in which direction the main move of the day will be - though we use 'Order Flow' and 'Wholesale Price Levels', Price Action and Volume in order to get the best Entry and Take Profit areas.
All the course sessions (both for the 'Tape Reading course' and for the full course) are recorded and can be viewed whenever is convenient for us.
The Charting/trading platforms that Ray shows are: TradingView (the white background screens) and Sierra Chart (the dark background screens).
TradingView is also used by retail FX educators such as BKForex. We only use it for 'the bigger picture' and for our 'Value Lines'.
For professional style Order Flow, a more sophisticated platform is required (together with a paid for data feed). As alternatives to Sierra Chart NinjaTrader, Jigsaw tools and Bookmap are other platforms used by some of Ray's students.
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