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Quoting michaellobry
The MMM ebook is about the Market Maker Method. - Find stop hunts, M’s W’s, Trend Runs, MYC’s, 200 Bounce, Shark Fin Long/Short on a single pair. If you can’t see it in hindsight, you will never see it in foresight. - patterns: 1. The beginning of the season (quarterly) 2. The beginning of the week (Sun/Mon) 3. The beginning of the day 4. The beginning of the session 5. The end of the session 6. The end of day 7. The end of the week 8. The end of the season. {image}
Nice PDF.
I was taking the piss with what I wrote before.
RSI, Fibs trendlines and macds moving averages are all complete nonsense. This PDF of MMM is certainly more of a clue to whats happening than most retail strategies but still lacks much information and skill needed to intraday markets. Relying on patterns and RSI will spell trouble. I dont agree with the timings or how the definitions of level 1,2,3 are talked about. The facts of "no trading everyday" is wrong. Theres ALWAYS trade. There has to be. HOD LOD and timing pivots these NICHE indicators will again get you in trouble. its a nice start but no way would following that PDF make you killions per year.
Quoting MLeslie
{quote} Nice PDF. I was taking the piss with what I wrote before. RSI, Fibs trendlines and macds moving averages are all complete nonsense. This PDF of MMM is certainly more of a clue to whats happening than most retail strategies but still lacks much information and skill needed to intraday markets. Relying on patterns and RSI will spell trouble. I dont agree with the timings or how the definitions of level 1,2,3 are talked about. The facts of "no trading everyday" is wrong. Theres ALWAYS trade. There has to be. HOD LOD and timing pivots these...
If anything, RSI, fibs etc create key levels which providers use for manipulation. So, learn it and take it to your advantage. Type in youtube: stop hunt strategy. Also learn market profile, it gives great key levels.
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Level 2 forex:
Are there any platforms that have anything like level 2 similar to
stock trading which shows in real-time the number of buy/sell orders
as one guage of market direction?

Answer:
As there is no centralized exchange in Forex, you can only see your local MM's depth, if he show's it at all.
Esignal offer market depth on FX, but it's an extra $20 or so *on top* of the $50 you pay for the GTIS feed. And then that's additional to your basic subscription, so is an expensive option IMO. And the Esignal data can wildly fluctuate due to the 200+ contributors.
This is how Oanda display the open order book, helpful maybe, but I don't usually look at it.
http://fxtrade.oanda.com/resources/t...rsummary.shtml

To cope with the lack of order depth insight, you can look at the CME currency futures level 2. they track well with the forex market. "the matrix" in TradeStation shows level 2 setup.

The best information you could get is a number of transaction and a price realized by a MM this is available in eSignal & Reuters platforms (may be bloomberg ...)
But at the end it is pretty useless !
CME curencies contract level 2 are the best bid/ask indicator of what is going on in terms of volume. you can register at: http://equivalentsrdc.cme.com:443/index.html (top secret link hihihihhi)

How to use level 2 in Trade Station:
first you have to sign up for the level 2 data. then, right click on a chart, and click "create matrix". this will give you the level 2 view (aka "the tape"). the numbers above the price are the resting asks, the numbers below are the bid orders. its pretty awesome, you have to play with it for a few weeks before you really get the hang of it. when you can master the tape, you have a whole new insight into the market price action.

http://fixapitrading.com - you can view Level II and trade from mt4 to fix api on charts based on fix api market data.
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  • Post #104
  • Quote
  • Edited 12:05pm Oct 14, 2018 11:54am | Edited 12:05pm
What is DOM:
Depth of Market, aka the Order Book, is a window that shows how many open buy and sell orders there are at different prices for a security. Let’s say the current price is $1, the DOM will show how many orders there are at $0.90, $1.05, etc. It’s a great tool to see where the supply and demand levels are. This data is available from most exchanges for a fee.

How to trade the DOM/Tape/Order flow?
There are also payed platforms built specifically for that type of trading, ATAS, Bookmap, Jigsaw, ....etc.
But i can't help thinking that there is no edge in it, if the only thing you have to do is to figure out iceberg orders, volatility and monitor order flow an AI can do it, in fact an AI will do it faster and more accurately. we can't compete with them.

Liquidity providers use robots (HFT) programmed by experts (fuzzy logic, deep neural networks, machine learning and data mining). They do not use simple robots like RSI and moving averages. Retail traders don't have the skill or money to create such robot. Because one need to have an MBA or math background. Watch youtube videos about DOM trading & order flow trading. Since 2010 until now robots manipulate the market more and more, in comparison to manual trading, where robots usually trade on tick data (lowest timeframe and lowest latency).

Market profile indicator is similar.
Attached Image (click to enlarge)
Click to Enlarge Name: En-dom.png Size: 169 KB
Attached File(s)
File Type: ex4 (MP) Market Profile.ex4   54 KB | 474 downloads
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Most traders here in forexfactory are learning to make profit. If you'd suggest anything, what would you suggest them?

I would suggest:
- learn fib sweet spot
- learn bearish block orders
- learn market profile
- learn stop hunt zones

Question:
Would you also suggest PnF indicators (see attachment)? Yes or no?
Attached Image (click to enlarge)
Click to Enlarge Name: pnf_xao_box1_rev2.png Size: 8 KB
Attached File(s)
File Type: mq4 cfb adaptive XO clean 5 digits nmc.mq4   10 KB | 409 downloads
File Type: ex4 PnF Charts.ex4   44 KB | 458 downloads
File Type: ex4 PNF.ex4   34 KB | 380 downloads
File Type: mq4 PNF.mq4   10 KB | 395 downloads
File Type: mq4 XO - choosable symbol ( 2 in 1 + arrows + alerts +mtf ).mq4   21 KB | 403 downloads
File Type: mq4 XO - mtf alerts - choosable symbol ( 2 in 1 + arrows ).mq4   18 KB | 395 downloads
File Type: mq4 XO clean for HA.mq4   4 KB | 424 downloads
File Type: ex4 XO clean_mtf + alerts + lines 2.02.ex4   37 KB | 409 downloads
File Type: mq4 XO clean_mtf + alerts + lines 2.02.mq4   13 KB | 416 downloads
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Quoting michaellobry
Most traders here in forexfactory are learning to make profit. If you'd suggest anything, what would you suggest them? I would suggest: - learn fib sweet spot - learn bearish block orders - learn market profile - learn stop hunt zones Question: Would you also suggest PnF indicators (see attachment)? Yes or no? {file} {file} {file} {file} {file} {file} {file} {file} {file} {image}
Orderflow is great. BUT without context it will ruin you.
Context is where retail traders go very wrong. Get Context and Orderflow right and you wont lose. Youll make a miliion every year from intraday trading.
Quoting michaellobry
What is DOM: Depth of Market, aka the Order Book, is a window that shows how many open buy and sell orders there are at different prices for a security. Let’s say the current price is $1, the DOM will show how many orders there are at $0.90, $1.05, etc. It’s a great tool to see where the supply and demand levels are. This data is available from most exchanges for a fee. How to trade the DOM/Tape/Order flow? There are also payed platforms built specifically for that type of trading, ATAS, Bookmap, Jigsaw, ....etc. But i can't help thinking that there...
M,

there is no such a thing as AI robot making money. it is all hype.

AI is used mostly in optimization, finding random strategies, and perhaps in asset allocation.

RSI is perhaps better than all of the AI crap out there. Dont waste your time on it.
Quoting MLeslie
{quote} Orderflow is great. BUT without context it will ruin you. Context is where retail traders go very wrong. Get Context and Orderflow right and you wont lose. Youll make a miliion every year from intraday trading.
Thank you. You stated that traders get orderflow wrong. I assume that the traders were wrongly educated by video tutorials or courses. Which course would you recommend and what is your experience?
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If anyone is wondering how to reduce your internet bandwidth, since MT4 uses a lot of your internet data. Here are some tips:
- don't have your market watch panel open
- don't use a lot of indicators
- don't open a lot of pairs at once

But, if for some reason you do need above features, then use profile (in Metatrader, click on File, and then Profile) and templates besides it. You can use ctrl + F5 to quickly switch to your next profile. Sorry for the template users, there is no hotkey to switch templates, but you can use hotkeys for your EAs and indicators (ctrl + n, select indicator, context menu then select set a hotkey).

Possible reasons you could have are:
- you need many indicators for your analyses
- you have a testing environment, a trading environment and an analysis environment
- you are streaming, recording or have a group meeting as to show 'em more features
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  • Post #110
  • Quote
  • Edited Oct 25, 2018 2:14pm Oct 19, 2018 7:54am | Edited Oct 25, 2018 2:14pm
{ copyrighted content deleted by staff }
Quoting TradersAppro
This is how I construct my edge on EURO/USD market: 1. Price action analysis daily, 1h where is the trend going 2. I have yield spread of German 10Y bond yield - US 10Y bond yield (this shows me how the future interest rates are priced), so this gives me the idea is the euro/usd overpriced or underpriced compared to the bond market. 3. Looking for 3 trade setups: a) pullback to the last selling/supply zone when looking for short trade b) I look for trap trade where institutions are trying to run the stops above pivot point and then reverse the market...
Great strategy and very nice explained! I like it. I usually trade on candle close, so it's a different trading style.

I've summarized the correlated pairs here if you are interested:
- Euro weights the most to influence dollar index
- Eur/usd and gpb/usd positive correlated. Meaning: usually goes in the same direction
- Eur/usd is negatively correlated to usd/chf
- Gbp/usd negative correlated to: usdchf, UC, UJ
- If eur/aud in down trend, then sell EU, buy AU.
- EU, AU, EA = currency triangle

Source: http://www.admiralmarkets.com/educat...strength-meter
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Quoting michaellobry
What is DOM: Depth of Market, aka the Order Book, is a window that shows how many open buy and sell orders there are at different prices for a security. Let’s say the current price is $1, the DOM will show how many orders there are at $0.90, $1.05, etc. It’s a great tool to see where the supply and demand levels are. This data is available from most exchanges for a fee. How to trade the DOM/Tape/Order flow? There are also payed platforms built specifically for that type of trading, ATAS, Bookmap, Jigsaw, ....etc. But i can't help thinking that there...

Is it for MT4 platform? How does it display trading volumes I guess MT4 doesn't provide this data, except for price ticks
Quoting dispersion
{quote} Is it for MT4 platform? How does it display trading volumes I guess MT4 doesn't provide this data, except for price ticks
in mt4 alt + b or watch these instructions:
Inserted Video
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What is forex order flow?

- trading liquidity pools
- but unlike futures/stocks/comm, the forex market doesn't provide centralized volume and therefore tools like DOM do not benefit forex traders.

So how do forex traders benefit from order flow?
- use clusterboxes and try cumulative delta (on normal and tick charts) (although CD works much better on Futures)
- use market profile

What else? Any recommendations for YT videos or courses to learn FOREX order flow?
Attached File(s)
File Type: pdf OrderFlowIntro..pdf   58 KB | 638 downloads
File Type: pdf EvansLyons.pdf   151 KB | 573 downloads
File Type: pdf OrderFlowAnalysis.pdf   26 KB | 546 downloads
File Type: pdf OBFXUsersManual.pdf   1.2 MB | 686 downloads
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Quoting MLeslie
{quote} Orderflow is great. BUT without context it will ruin you. Context is where retail traders go very wrong. Get Context and Orderflow right and you wont lose. Youll make a miliion every year from intraday trading.
Thank you. Do you know how we can improve in orderflow trading? Do you recommend these orderflow software?
- Order Flow Analytics (OFA)
- Footprint
- Bookmap
- Jigsaw
- ATAS
- SB
- NT
- Quantower

Also we are looking for liquidity pools of stops. Does it make sense to look for liquidity pools made of takeprofits?
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Forex contest.

Participants: me and 1 other person (which is you).

Contest rules:

1. I will explain my strategy to you, we both look at my screen.
2. We individually pick, an entry, SL and TP. Then we scroll the Metatrader4 chart (f12 hotkey) to see what price actually did on that day.
3. We do this until we are back to the chart time of 2018, 27 October and we check who got the most virtual wins.
4. Then you explain your strategy and we start the contest again and at the end check to see who got the most virtual wins.

If you are interested, let me know. Naturally, we don't do this contest to show off but rather to hone our skills and look at the charts in a different light.
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  • Post #117
  • Quote
  • Last Post: Oct 12, 2022 10:51am Oct 12, 2022 10:51am
Quoting Wanderer272
{quote} Price Structure Part 1 Price needs to behave in a certain to retain it's "Randomness" and fractal structure. Statistically, this can be described by measuring the High-Low and Absolute Open-Close price ranges and how these vary through increasing time-scales. If you do this, you will find the following: 1. Every 4x increase in time doubles the price range.. 2. The open-close absolute range is almost exactly half the high-low range.. This is of course when averaged across many bars and will fluctuate wildly in the short term. I believe this...
Hi Wanderer272, I came across this comment and ended up buying a couple of ebooks by Michael Duane Archer on Goodman Wave Theory. Goodmanworks.com and any other website he mentions no longer exist and the ebooks do not come with access to copies of all the GWT templates. I think I saw you mention somewhere on another thread a power point presentation of them. Is there any way I can get my hands on a copy of those by having them sent/emailed to me? Please let me know as I am really excited to get my hands on these. It appears Mr. Archer either completely retired and possibly even passed away as I cannot find any internet activity for him since 2016. Please help.
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