guys,do you remember J. Livermore how he use to operate in market
no chart, no nothing, just the quote board
all the best!
no chart, no nothing, just the quote board
all the best!
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DislikedIts read [orderflow] by deconstructing the logic processes of participants within the context of the execution limitations imposed by market microstructure.Ignored
DislikedRegarding the no charts thing, this is what I think you could do.
Watching IFR it reports a large DNT option barrier on Yen at 98.00, you look at price now and set a price alert when it get within 50 pips of 98.00.
A few hours later a dollar news event comes out and you watch a ticker of yen to see what happens following it for around 15 mins. This might give you information or not.
Later your alert goes off, you look at the ticker and watch it then make your play.
No charts needed.Ignored
DislikedThis is the only thing I can think that I didn't mention earlier. So if that is the case, then you would be completely reliant on IFR or some other news service to tell you where these areas of liquidity are, right? I could be missing something.Ignored
DislikedAnd the last few...
Notice that momentum thrust bar pointed by arrow. Usually when price takes orders cluster it does that with huge power. Market movers must place enough force into the movement to carry it through all these orders sitting above/below congestion.
Take care.
Vidas
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“Do not sell morning weakness in the strong uptrend” – old Sumer proverb.Ignored
QuoteDislikedQuote:
Originally Posted by Darkstar http://cdn.forexfactory.com/images/buttons/viewpost.gif
Our only option is to look for concentrations of liquidity and make assumptions about how prices will respond to those concentrations based on our understanding of market microstructure.
QuoteDislikedQuote:
Originally Posted by Darkstar http://cdn.forexfactory.com/images/buttons/viewpost.gif
Once you understand the mechanics you don't even need a chart.
Dislikedbut the best is the second-by-second one provided by the ticker.Ignored
DislikedHey guys, I just wanted to add my input to these above quotes.
I believe that what Darkstar was alluding to is that you don`t necessarily need all of the information provided by a chart to trade in this manner, but that does not impact it`s ability to present information in a visually easy-to-glance-and-comprehend manner.
The chart is essentially a plot of price vs. time. If we can spot areas on the chart where price spends very little time, then these are possibly clues which can lead us to make informed guesses as to what the liquidity...Ignored
DislikedThere are a few 'magic numbers' in the market where you don't need a chart to trade them. I can only assume these are psychological numbers for many, many traders - a bit like Fibs but stronger (and arguably simpler).
Hence in my journal I eluded to the fact I didn't always trade with a chart; today's EURUSD being a perfect example of a +80 pip trade without a chart.Ignored
DislikedQuote:
Hi Vidas - Can you help understand of how you decided that the Order Clusters are above Congestion and not below?. Thanks for your help.
http://www.forexfactory.com/showthre...06#post4336106
Hope that helps.
Take care.
Vidas
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Do not sell morning weakness in the strong uptrend old Sumer proverb.Ignored
DislikedWell u can call me whatever u want to.
anyways,... was just curious.
.Ignored