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Order Flow - Achieving the mindset

  • #261
  • Feb 10, 2011 3:12pm Feb 10, 2011 3:12pm
Quoting Monroe
you want to watch the IFR forexwatch and orders board and options stuff... I filter out the rest.
Is it worth the $125 a month?
Time hides Nothing
  • #262
  • Feb 10, 2011 3:13pm Feb 10, 2011 3:13pm
Quoting Monroe
you want to watch the IFR forexwatch and orders board and options stuff... I filter out the rest.

Exactly. Keep digging and you'll find the significant stuff, but Monroe basically identified what I consider to be the most important information on IFR.
  • #263
  • Feb 10, 2011 3:22pm Feb 10, 2011 3:22pm
Quoting CindyXXXX
Is it worth the $125 a month?
125$ a month? shit is free on oanda... and yea dude, I think that it is worth it if I had to pay it. I'd rather have a complete thompson reuters news feed with IFR also though... this i would pay extra for.

I don't think you need it.... but it's something I would do for the business, especially since I trade intraday. But, as of right now I'm cool with all the free shit that's available...
  • #264
  • Feb 10, 2011 3:27pm Feb 10, 2011 3:27pm
Quoting Monroe
125$ a month? shit is free on oanda... and yea dude, I think that it is worth it if I had to pay it. I'd rather have a complete thompson reuters news feed with IFR also though... this i would pay extra for.

I don't think you need it.... but it's something I would do for the business, especially since I trade intraday. But, as of right now I'm cool with all the free shit that's available...
haha OK thanks man.
Time hides Nothing
  • #265
  • Feb 10, 2011 5:12pm Feb 10, 2011 5:12pm
Quoting Monroe
you want to watch the IFR forexwatch and orders board and options stuff... I filter out the rest.
Hmm.. Don't know really about this but seems a little wierd. I opened up FXNews and unchecked 4Cast, Dow Jones and UBS. The only one checked is IFR Markets, and that one only contains 23 articles and no one of them is about order flow, options or anythaaang.. Seems as if I am doing something wrong here? Can't find the order board or option board (or the equivalent).

Take care
  • #266
  • Feb 10, 2011 5:21pm Feb 10, 2011 5:21pm
Quoting Carnegie
Hmm.. Don't know really about this but seems a little wierd. I opened up FXNews and unchecked 4Cast, Dow Jones and UBS. The only one checked is IFR Markets, and that one only contains 23 articles and no one of them is about order flow, options or anythaaang.. Seems as if I am doing something wrong here? Can't find the order board or option board (or the equivalent).

Take care
Welcome to the information search... There's no big bolded font saying "hey trader really helpful information this way >>>>"

I think for anything really useful you would need to dig like a beaver and use a bit of wit.

Is it any coincidence the good stuff is buried by all the noise... ?

That's just me, maybe someone else could be more helpful.
Time hides Nothing
  • #267
  • Feb 10, 2011 5:33pm Feb 10, 2011 5:33pm
Quoting Carnegie
Hmm.. Don't know really about this but seems a little wierd. I opened up FXNews and unchecked 4Cast, Dow Jones and UBS. The only one checked is IFR Markets, and that one only contains 23 articles and no one of them is about order flow, options or anythaaang.. Seems as if I am doing something wrong here? Can't find the order board or option board (or the equivalent).

Take care
Jesus Christ Carnegie!!!!!

haha jk bro...

Sometimes they won't show up until about 12-2am EST or whenever they report it... then you'll see the boxes appear, but you should always see 'ifr forexwatch' so keep that checked and kill the rest until orders board and options appear then check them too and you'll get what you're looking for.

Test it out now and go back and reload yesterday or 'today' where it says dated up on the top right side. that will reload all of todays or yesterdays stuff and you can search back for about a week or so, you'll see them appear
  • #268
  • Feb 10, 2011 5:37pm Feb 10, 2011 5:37pm
Quoting CindyXXXX
Welcome to the information search... There's no big bolded font saying "hey trader really helpful information this way >>>>"

I think for anything really useful you would need to dig like a beaver and use a bit of wit.

Is it any coincidence the good stuff is buried by all the noise... ?

That's just me, maybe someone else could be more helpful.
Hey cindy,

I think you misunderstood me here.. By no means am I trying to be spoon-fed or anything here, I just thought there was something I missed.
It is extremely obvious to me that news and good info won't be on the first column screaming "READ ME TO MAKE MONEY".. but on the other hand.. my bullshit-indicator tells me that's how it works (..and doesn't work out). Funny world

Take care.
  • #269
  • Feb 10, 2011 5:40pm Feb 10, 2011 5:40pm
by the way, 4cast can give some info too and DJ market talk
  • #270
  • Feb 10, 2011 5:44pm Feb 10, 2011 5:44pm
I guess it's how you use this information... it's not going to be staring you in the face how to take money from these asswipes... so you're gonna have to be good....
  • #271
  • Feb 10, 2011 5:45pm Feb 10, 2011 5:45pm
Quoting Monroe
Jesus Christ Carnegie!!!!!

haha jk bro...

Sometimes they won't show up until about 12-2am EST or whenever they report it... then you'll see the boxes appear, but you should always see 'ifr forexwatch' so keep that checked and kill the rest until orders board and options appear then check them too and you'll get what you're looking for.

Test it out now and go back and reload yesterday or 'today' where it says dated up on the top right side. that will reload all of todays or yesterdays stuff and you can search back for about a week or so, you'll...
What the f man.. When I try to download any other dates (like yesterday, this week etc) I get "Error".

"'ifr forexwatch' so keep that checked and kill the rest until orders board and options appear then check them too and you'll get what you're looking for."

You mean just leaving IFR checked and leave the rest. But what do you mean with "check them too" after order board and options appear? I thought only IFR wrote about order board and options.. the other ones were only bs news like daily high low and other nonsense.

Take care
  • #272
  • Feb 10, 2011 5:47pm Feb 10, 2011 5:47pm
Carnegie... click the IFR menu down and you'll see what I'm talking about, you can filter out what you want and don't want from IFR or DJ.

do you see what I'm saying? come on C....
  • #273
  • Feb 10, 2011 5:52pm Feb 10, 2011 5:52pm
Quoting Monroe
Carnegie... click the IFR menu down and you'll see what I'm talking about, you can filter out what you want and don't want from IFR or DJ.

do you see what I'm saying? come on C....
I see whatcha saying monnie monroe.. but the fact of the matter is that it still ain't working, you cant download old news because it just sends me an error message that there is a timeout error and then I have to log into the platform again. So I think there is something wrong with my internet connection really..

Anyway thanks for trying Monroe really thankful!
Take care
  • #274
  • Feb 10, 2011 5:55pm Feb 10, 2011 5:55pm
this is what i like to look at
http://fxtrade.oanda.com/analysis/open-position-ratios

if u go to historical open positions ull see that majority of traders were always wrong
no wonder marketmaker like oanda makes a lot of money
week ago it was 40% buy,now its 45 %
3 weeks ago it was 40% buy thats when up market started i think or 2 weeeks ago
if u want to see the orderflow just go to forexlive,they have reuters orderbook
but still they aint the holy grail,it just helps with looking at the volume on m1,and reading whos selling what,major players
yesterday swiss bank sold off 300m eurusd and sent the market downwards

i find the london session the most important for trading,its interestign that it has a directional bias,what im talking about is that it always goes for example,
in tokyo last 20 m downwards,then london opens,other direction,by following teh moving average of 20 smoothed,u can see if its coming back,and after 30-90 minutes of play in london it reverses,i made alot of pips like this last weeks yesterday i lost it all,by going against the london,that just shows how powerful it is
heres my study
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  • #275
  • Feb 10, 2011 5:55pm Feb 10, 2011 5:55pm
Yea this piece of crap can act up from time to time... try again in a bit.

but now with all this info you can get and your understanding of structure and microstructure of the FX market and how they work it, do you think you can put something together?
  • #276
  • Feb 10, 2011 5:59pm Feb 10, 2011 5:59pm
Quoting dragan53
this is what i like to look at
http://fxtrade.oanda.com/analysis/open-position-ratios

if u go to historical open positions ull see that majority of traders were always wrong
no wonder marketmaker like oanda makes a lot of money
week ago it was 40% buy,now its 45 %
3 weeks ago it was 40% buy thats when up market started i think or 2 weeeks ago
if u want to see the orderflow just go to forexlive,they have reuters orderbook
but still they aint the holy grail,it just helps with looking at the volume on m1,and reading whos selling...
Yea... I hear you... try the oanda orderbook and set the open orders to 'net' positions, and play with that for awhile...

london is easily the best to trade, but NY reversals can be quite nice with the news.
  • #277
  • Feb 10, 2011 6:02pm Feb 10, 2011 6:02pm
Quoting Monroe
Yea this piece of crap can act up from time to time... try again in a bit.

but now with all this info you can get and your understanding of structure and microstructure of the FX market and how they work it, do you think you can put something together?
Yeah I'll try soon again.

That's a good question but the harsh truth is that I still do not know enough about structure/mkt. microstructure to make a educated guess. But now that I have defined what the order flow mentality is to me (swear to god since the day I "discovered" the order flow mentality and what causes orders I have been walking around day and night thinking about possible scenarios.. I know like a billion scenarios that would cause order flow now) the only thing I should to next is keep studying and look at IFR from time to time and test my thinking on a couple of demo trades.. Just to see how it works out you know.

I guess I was looking for the wrong thing with IFR.. You have to read every article to know what's going on.. I thought it would say right on the headlines: OPTION BARRIER 1.35 ..or STOPS BELOW 1.3450, guess I was wrong though

But to answer your question.. In time and as I learn more, I am certain that I will be able to put something together

Take care
  • #278
  • Feb 10, 2011 6:05pm Feb 10, 2011 6:05pm
Quoting Carnegie
I guess I was looking for the wrong thing with IFR.. You have to read every article to know what's going on.. I thought it would say right on the headlines: OPTION BARRIER 1.35 ..or STOPS BELOW 1.3450, guess I was wrong though
Sometimes it will say stuff as obvious as that right in the title, but there usually isn't a lot of that type of information coming out at 7:00pm ET. Like Monroe said, once it starts working properly, download all of the headlines from the day and then decide which ones you want to filter out.
  • #279
  • Feb 10, 2011 6:07pm Feb 10, 2011 6:07pm
Quoting Carnegie
Yeah I'll try soon again.

That's a good question but the harsh truth is that I still do not know enough about structure/mkt. microstructure to make a educated guess. But now that I have defined what the order flow mentality is to me (swear to god since the day I "discovered" the order flow mentality and what causes orders I have been walking around day and night thinking about possible scenarios.. I know like a billion scenarios that would cause order flow now) the only thing I should to next is keep studying and look at IFR from time to time...
well I hear you, just keep in mind the sessions, whats going on in the market, the bias, the theme at the time, what will be happening that can cause movements, the positioning, what these guys do for liquidity, etc etc...

and sometimes they will in fact say that exact thing... option at 1.35, bids here, offers there, stops below/above and you have to work it all out. But it's not going to be so straight forward as ok, go long here and go short there you know?

forexlive does the same crap with there bank contacts... and keep in mind this is where this info is coming from so... use your head. I think this is why DS says it's an art. So just keep practicing....
  • #280
  • Feb 10, 2011 6:10pm Feb 10, 2011 6:10pm
Quoting Monroe
well I hear you, just keep in mind the sessions, whats going on in the market, the bias, the theme at the time, what will be happening that can cause movements, what these guys do for liquidity, etc etc...

and sometimes they will in fact say that exact thing... option at 1.35, bids here, offers there, stops below/above and you have to work it all out. But it's not going to be so straight forward as ok, go long here and go short there you know?
This is interesting.. This is like the fifth time or something someone mentiones bias and I really think I should make som effort in trying to understand market 'bias'. But for me that is the "trend" (a handicap from being a TA-trader) and the studies I made from trend... Well, to be short I can say right now they don't fit into a OF traders mentality.

I see what you're saying Monroe and frankly, I really don't want it to say "go long here" or "short there".. I want to work that out for myself. Figure I learn more.

Take care guys nice to have a discussion here once again.
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