How to Use Orderflow in Forex - Any Ideas? | Forex Factory

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How to Use Orderflow in Forex - Any Ideas?

  • #1
  • First Post: Sep 22, 2020 11:52pm Sep 22, 2020 11:52pm
I've heard that in Forex, using orderflow tools is problematic due to lack of central exchange data. However please can I know if its possible to use orderflow strategies as a confirmation and/or entry method for scalping trades? Any ideas?
  • #2
  • Sep 23, 2020 3:03am Sep 23, 2020 3:03am
Watch the videos (2 parts) on this thread:

https://www.forexfactory.com/thread/...rogram?page=12
Amor Fati--F. Nietzsche
  • #3
  • Sep 23, 2020 4:50am Sep 23, 2020 4:50am
Quoting doji
Watch the videos (2 parts) on this thread: https://www.forexfactory.com/thread/...rogram?page=12
Hi Doji, this videos looks interesting and bookmarked to watch them later on the day. Is there any similarity in this method to RTM thread.
  • #4
  • Sep 23, 2020 4:59am Sep 23, 2020 4:59am
Not really familiar with RTM to be able to say with certainty.

I believe Gil Ben Hur, the video presenter. used to be part of that group though.
Amor Fati--F. Nietzsche
  • #5
  • Sep 23, 2020 3:19pm Sep 23, 2020 3:19pm
Quoting sameer99
I've heard that in Forex, using orderflow tools is problematic due to lack of central exchange data. However please can I know if its possible to use orderflow strategies as a confirmation and/or entry method for scalping trades? Any ideas?
Absolutely.

In order to use OrderFlow, you have to look at the actual buying and selling in the Market. Looking at "swing highs and swing lows" does not constitute OrderFlow trading. Accordingly, RTM et all are not trading OrderFlow despite what they may claim. True OrderFlow traders will be looking at Volume, Delta, Aggression, Bid x Ask data, market orders, limit orders, and value (this is not meant to be an exhaustive list).

Attached Image (click to enlarge)
Click to Enlarge Name: OrderFlow 1.png Size: 350 KB
Without VSA, you're playing checkers while the Smart Money plays chess.
  • #6
  • Sep 23, 2020 5:05pm Sep 23, 2020 5:05pm
One of the greatest order flow traders of recent times is the remarkable "Daemon Goldsmith",he was present on the Forex Factory forums a few years back.I believe he made a fortune trading forex and disappeared to live an indulgent life in the Bahamas.He wrote the best selling book "Order Flow Trading For Fun and Profit",try and get a copy it is absolute gold.
  • #7
  • Sep 23, 2020 8:09pm Sep 23, 2020 8:09pm
Quoting edge540
One of the greatest order flow traders of recent times is the remarkable "Daemon Goldsmith",he was present on the Forex Factory forums a few years back.I believe he made a fortune trading forex and disappeared to live an indulgent life in the Bahamas.He wrote the best selling book "Order Flow Trading For Fun and Profit",try and get a copy it is absolute gold.
Are you serious? Surely you jest?
  • #8
  • Sep 23, 2020 10:36pm Sep 23, 2020 10:36pm
Quoting HiddenGap
{quote} Absolutely. In order to use OrderFlow, you have to look at the actual buying and selling in the Market. Looking at "swing highs and swing lows" does not constitute OrderFlow trading. Accordingly, RTM et all are not trading OrderFlow despite what they may claim. True OrderFlow traders will be looking at Volume, Delta, Aggression, Bid x Ask data, market orders, limit orders, and value (this is not meant to be an exhaustive list). {image}
Hi HiddenGap, Thank you for your reply. Due to nature of the Forex market different brokers/data providers may have different data for order flow for a given moment. If we make a trading decision, it could be different from one broker/data provider to another? Will it affect accuracy of our trades?
  • #9
  • Sep 24, 2020 4:15am Sep 24, 2020 4:15am
Look at this: https://www.forexfactory.com/thread/...uccess?page=73

It is order flow trading in depth.
  • #10
  • Last Post: Sep 24, 2020 12:28pm Sep 24, 2020 12:28pm
Quoting sameer99
{quote} Hi HiddenGap, Thank you for your reply. Due to nature of the Forex market different brokers/data providers may have different data for order flow for a given moment. If we make a trading decision, it could be different from one broker/data provider to another? Will it affect accuracy of our trades?
The same argument can be made of price itself.

Ultimately you have to trade what you see.

Or you could trade Currency Futures. They have a central exchange, they are regulated, and your broker isn't taking the other side of your trade.
Without VSA, you're playing checkers while the Smart Money plays chess.
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