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Forex Order Board

  • #1
  • First Post: Jul 19, 2007 2:15pm Jul 19, 2007 2:15pm
I'm reading a Forex Order Board but I don't understand what it's saying. Can someone please explain what the following means:

USD/JPY Offers at 122.40/50 with stops above 122.50. Offers at 122.60/65 with stops above. Offers from 122.80 to 123.00. Bids at 121.70/75/80 from model funds. More bids at 121.50/60 with stops under 121.50. Some bids at 121.40 with more at 121.30 with stops at 121.20. Bids at 121.00 with more bids at 120.75/80.


Thanks
  • #2
  • Jul 19, 2007 2:41pm Jul 19, 2007 2:41pm
The way i think of it when i read it is to just replace offers with "sell" and bids with "buy".
  • #3
  • Jul 19, 2007 3:02pm Jul 19, 2007 3:02pm
Quoting three80
I'm reading a Forex Order Board but I don't understand what it's saying. Can someone please explain what the following means:

USD/JPY Offers at 122.40/50 with stops above 122.50. Offers at 122.60/65 with stops above. Offers from 122.80 to 123.00. Bids at 121.70/75/80 from model funds. More bids at 121.50/60 with stops under 121.50. Some bids at 121.40 with more at 121.30 with stops at 121.20. Bids at 121.00 with more bids at 120.75/80.


Thanks
DC has it right and here is additional information. Unnamed funds and/or banks have placed sell orders sitting in a range from 122.40 to .50 and their corresponding stops are above 122.50 .

On the other hand there are buy orders, bids, at 121.70 to .80 .

These could be areas of resistance for the offers and support for the bids.

May I ask where you found this information?

Lou
  • #4
  • Jul 19, 2007 4:07pm Jul 19, 2007 4:07pm
three80 must be trying out the DailyFXPlus trial they're offering for free this week, I saw this info as well on their site, looks pretty useful.
Pippin' ain't easy.
  • #5
  • Jul 19, 2007 5:23pm Jul 19, 2007 5:23pm
Depending on how big of a slice of the market that represents, potentially very useful indeed.
  • #6
  • Jul 20, 2007 10:39am Jul 20, 2007 10:39am
Quoting dedhed
Depending on how big of a slice of the market that represents, potentially very useful indeed.
It's hard to say how big of a slice it actually is, all their formulas/indicators are proprietary.
Pippin' ain't easy.
  • #7
  • Jul 20, 2007 12:45pm Jul 20, 2007 12:45pm
Thanks for the info.

It is in fact from DailyFX Plus. I use FXCM so I have access to it. They have, among many other features, that order board for each pair that's updated regularly.

I have found the intraday live news they provide to be my primary news source. They also offer technical indicators and more.

I have seen prices spike for no apparent reason only to see a little while later a news report from them saying it was stop orders being triggered. So I guess I need to start watching their order board in addition to watching their intraday live news.

What I'd like to know is how do they know where orders are? Are they just reporting orders placed on FXCM, or can they "see" the whole market? It's not just them - lots of the Daily FX Plus intraday news reports come from Thomson and they frequently post reports about certain types of orders sitting at given prices on all the pairs. So, how do FXCM and Thomson know all this?

380
  • #8
  • Jul 21, 2007 10:44pm Jul 21, 2007 10:44pm
The mystery man who knows all about this and is quite successful apparently is DarkStar. Not heard from for quite some time. His mentee is on the forum more often. Cant recall his name but his Avatar says " shhh he is hunting stops." Shows a picture of Elmer Fudd and a Stop sign.

Anyway I think they both use an ECN platform which allows them to get closer to the actual market than 'we' are. They can apparently see where the big dogs are placing their orders, stops? . There is a lot more to it, but that is all I know and some of it might even be wrong.

I do have Daily FX but the info you listed was quite a chunk of information. Not usually quite that much from Thompson all in one place.and time. By the way Oanda has the Thompson feature now as well, but not nearly as well organized as Daily FX.

One day I might actually try trading or at least closely watching the Thompson info to see how it pans out.

Lou
  • #9
  • Aug 7, 2007 4:21pm Aug 7, 2007 4:21pm
Quoting three80
Thanks for the info.

It is in fact from DailyFX Plus. I use FXCM so I have access to it. They have, among many other features, that order board for each pair that's updated regularly.

I have found the intraday live news they provide to be my primary news source. They also offer technical indicators and more.

I have seen prices spike for no apparent reason only to see a little while later a news report from them saying it was stop orders being triggered. So I guess I need to start watching their order board in addition to watching their intraday live news.

What I'd like to know is how do they know where orders are? Are they just reporting orders placed on FXCM, or can they "see" the whole market? It's not just them - lots of the Daily FX Plus intraday news reports come from Thomson and they frequently post reports about certain types of orders sitting at given prices on all the pairs. So, how do FXCM and Thomson know all this?

380
they have their own sources, sometimes very good as someone planning to move the market gives info about the orders he sees in order to encourage others to join him in his hunt for stops for example.
Quidquid latine dictum sit altum viditur
  • #10
  • Oct 6, 2010 9:36am Oct 6, 2010 9:36am
Hello,

Just out of interest do DailyFX still offer this feature? I have searched around and I am unable to find it. I currently use Market News for order information although lately their service has been pretty bad.

If not, does anyone know of any other provider except IFR Markets that provides this information?

Anyones help will be greatly appreciated!

Many thanks,
  • #11
  • Oct 6, 2010 9:49am Oct 6, 2010 9:49am
Get an Oanda demo, then on that platform select "Resources">>"FX News"

In Oanda's news service you can filter out news to only IFR content, although you'll find that more than IFR is useful.

Take care,

Jim
  • #12
  • Nov 22, 2010 3:26pm Nov 22, 2010 3:26pm
Quoting Scotty B
Get an Oanda demo, then on that platform select "Resources">>"FX News"

In Oanda's news service you can filter out news to only IFR content, although you'll find that more than IFR is useful.

Take care,

Jim
Does Oanda FX News (IFR) have the same feed as FXCM orderboard?
  • #13
  • Last Post: Nov 22, 2010 3:39pm Nov 22, 2010 3:39pm
yes they provide the full IFR forexwatch and order board info as far as I know.
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