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Order Flow - Achieving the mindset

  • #2,181
  • Jun 29, 2011 10:16am Jun 29, 2011 10:16am
Quoting Darkstar
Ohh Sweet Liquidity

Enjoy
Darkstar:

Thanks for posting this. It is quite helpful, as I am a new trader.

I just came across the concept of Order Flow Trading a few weeks ago. Since then, I have been reading extensively. I want to get as far as I can before school starts again.

I've read all of the major threads devoted to subject, as well as, some of the books recommended by Darkstar and grkfx.

Reminiscences of a Stock Operator makes sense now I read it about a 5 months ago, and did not have a clue as to why it continues to be a "must read." Now I see.

Over the weekend I read The Way of the Dollar. I did not get nearly as much from it as I did from ROASO and T & E. The two main ideas to me seemed to be: 1) Surprise (when news differs from expectations) moves the market; and 2) Sentiment is, at least, as important as fundies.

To those of you that have read, The Way of the Dollar, what were your most important takeaways? Did I miss something important? Probably so, as some of you have mentioned, I am definitely in the information overload stage.
  • #2,182
  • Jun 29, 2011 10:20am Jun 29, 2011 10:20am
Quoting seagreen
Sweet thread, DS. Are those 5 min bars?
Yeep
  • #2,183
  • Jun 29, 2011 10:26am Jun 29, 2011 10:26am
Wow, e/u just bounced from lows all the way back to 1.4440 area...all in about an hour and a half. Any thoughts as to why? I'm thinking profit taking on shorts. But part of me thinks now that people have had a bit of time to digest what happened in greece, they decided to buy in anticipation of the vote tomorrow? Theres also that barrier option topside. im probably completely off the mark, just trying to get a handle on this....
  • #2,184
  • Jun 29, 2011 10:29am Jun 29, 2011 10:29am
Quoting theColonel
Wow, e/u just bounced from lows all the way back to 1.4440 area...all in about an hour and a half. Any thoughts as to why? I'm thinking profit taking on shorts. But part of me thinks now that people have had a bit of time to digest what happened in greece, they decided to buy in anticipation of the vote tomorrow? Theres also that barrier option topside. im probably completely off the mark, just trying to get a handle on this....
It could be due to a variety of factors:

 

  1. An attempt at the barriers
  2. Bargain hunters executing orders aggressively to take advantage of what they perceive to be a mispricing. It may not have to be for the votes, but yesterday we saw the market was quite sensitive to ECB hawkish rhetoric. Seeing the drop in price perhaps gave them a chance to load up on more longs.
  3. Short covering from shorts who were playing the move down after expectations have been met.

Regards,
xXTrizzleXx

  • #2,185
  • Jun 29, 2011 1:11pm Jun 29, 2011 1:11pm
I've read about a barrier option at 1.4450. It would make sense with the price action. I can't imagine it lasting too much longer.
  • #2,186
  • Jun 29, 2011 1:41pm Jun 29, 2011 1:41pm
Thanks for the thread Darkstar.

You said you were working as a staff member for FF. Was that a regular job at their office in Tampa or you were just doing it from your PC.

Btw FF posted their office pics at Facebook.

http://www.facebook.com/media/set/?s...73.66483761053
.
  • #2,187
  • Jun 29, 2011 3:07pm Jun 29, 2011 3:07pm
wow whipsaw galore.... i fell asleep right before the vote, like 10 minutes before...

seems this barrier has some defense behind it. looks like we are getting some position unwinding up here...
  • #2,188
  • Jun 29, 2011 3:15pm Jun 29, 2011 3:15pm
Anyone know where we can access a free feed of the Thompson-Reuters IFR Forex Watch Order Board? If not, where can I find stop and option levels? Thanks!
  • #2,189
  • Edited 3:37pm Jun 29, 2011 3:24pm | Edited 3:37pm
btw this vote passed, I saw vicky_ag posted a comment that he hopes it doesn't pass, I don't see why anyone takes offense to that... it seems that's what the people of Greece want anyway... and the Greek riot dog too. This is a a lot different then saying they hope another tsunami hits someplace that offers them great opportunity in the markets.

Now I am the furthest thing from an economist, but it would seem that leaving the euro zone and defaulting would be the better option for Greece wouldn't it? Russia handled it well.. took them 10 years or so, but look at them now. From what I've read, it would take a shorter amount of time for them to straighten it out if they went back to the Drachma.

How the hell is this going to work out for them? They are just kicking the can down the road, it's far from over. It's much harsher on the regular joe's of Greece.
  • #2,190
  • Jun 29, 2011 3:25pm Jun 29, 2011 3:25pm
Quoting scottymoll
Anyone know where we can access a free feed of the Thompson-Reuters IFR Forex Watch Order Board? If not, where can I find stop and option levels? Thanks!
did you read this thread at all? it was discussed like 50 times and at least once in the past couple of pages. I know I answered this personally more then a few times. you have oanda, fxstreet news, fxlive, etc..
  • #2,191
  • Jun 29, 2011 3:34pm Jun 29, 2011 3:34pm
I have the Oanda FxTrade News feed, but I haven't seen any option/stop levels posted. I figured that the Order Board was not included in the feed. I will go back an re-read the past few pages and look for the answer. I thought the Order Board specifically listed key levels, so that's what I was looking for.

Quoting Monroe
did you read this thread at all? it was discussed like 50 times and at least once in the past couple of pages. I know I answered this personally more then a few times. you have oanda, fxstreet news, fxlive, etc..
  • #2,192
  • Jun 29, 2011 3:35pm Jun 29, 2011 3:35pm
Anyone keeping tabs on US bond yeilds? 10yr is up at 3.10% from 2.90% in two days.

UJ and Uchf could develop a sharp trend if,

Fed's keep their tone hawkish and we dont have a big risk aversion event.

Even if there is a risk event i think USD is getting back as a favorite for Safe heaven flows as yeilds are picking up and there are some voices for better second half for US economy.
.
  • #2,193
  • Jun 29, 2011 3:48pm Jun 29, 2011 3:48pm
Quoting scottymoll
I have the Oanda FxTrade News feed, but I haven't seen any option/stop levels posted. I figured that the Order Board was not included in the feed. I will go back an re-read the past few pages and look for the answer. I thought the Order Board specifically listed key levels, so that's what I was looking for.
it's in the feed... its pretty much the complete IFR as far as I know, with no chart pictures that you would get with the real IFR, just the text.
  • #2,194
  • Jun 29, 2011 4:23pm Jun 29, 2011 4:23pm
Gotcha! Thanks for taking the time to explain.

Quoting Monroe
it's in the feed... its pretty much the complete IFR as far as I know, with no chart pictures that you would get with the real IFR, just the text.
  • #2,195
  • Jun 29, 2011 5:04pm Jun 29, 2011 5:04pm
Quoting xXTrizzleXx
It could be due to a variety of factors:

 

  1. An attempt at the barriers
  2. Bargain hunters executing orders aggressively to take advantage of what they perceive to be a mispricing. It may not have to be for the votes, but yesterday we saw the market was quite sensitive to ECB hawkish rhetoric. Seeing the drop in price perhaps gave them a chance to load up on more longs.
  3. Short covering from shorts who were playing the move down after expectations have been met.

Regards,
xXTrizzleXx

I'm thinking it was a reload into the asian low stops from defenders. I had targeted on my first failed attempt to pick a top last night... looks like it happened on the second though not to far up from there.... I'm not sure of course, but it would seem that way. I think most real money accounts are chilling on the sidelines until after this week or buying USD's. Looks like some other options interest stuff going on up here besides the barrier too.
  • #2,196
  • Jun 29, 2011 5:04pm Jun 29, 2011 5:04pm
So we have a options barrier at 1.4450. They apparently have a whole lot of money to defend it like they have. Sooo, how do we make money off of it since it is sitting very close to the barrier? Push into it and liquidate at the stops? Wait for it to go through the barrier and stops and fade the stops back down? Take a fade off of 1.4440(although the bounces are looking weaker). Something else I'm not considering?
  • #2,197
  • Jun 29, 2011 5:18pm Jun 29, 2011 5:18pm
Quoting Nervousone
So we have a options barrier at 1.4450. They apparently have a whole lot of money to defend it like they have. Sooo, how do we make money off of it since it is sitting very close to the barrier? Push into it and liquidate at the stops? Wait for it to go through the barrier and stops and fade the stops back down? Take a fade off of 1.4440(although the bounces are looking weaker). Something else I'm not considering?
decisions decisions.... guess you'll have to watch the PA and decide how you're going to make money. Don't be nervous....
  • #2,198
  • Jun 29, 2011 5:35pm Jun 29, 2011 5:35pm
Quoting scottymoll
Gotcha! Thanks for taking the time to explain.
The order board only appears if if there is any recent order info (not usually there for the asian session). Where it says "latest news" change to news for last week and then the order board will appear on the left under the menu.
  • #2,199
  • Jun 29, 2011 5:42pm Jun 29, 2011 5:42pm
Quoting havaiana
The order board only appears if if there is any recent order info (not usually there for the asian session). Where it says "latest news" change to news for last week and then the order board will appear on the left under the menu.
the "order boards" info of IFR usually comes in late asia before the london session open and around the NY close if there is any, They also tell you through the forexwatch news throughout the session. sean lee of fxlive gives order info at the start of Asia if he hears of anything, and during the sessions fxlive tells you what they hear as well.
  • #2,200
  • Jun 29, 2011 5:53pm Jun 29, 2011 5:53pm
Monroe:

In one of your earlier posts, you mentioned that as a day trader you only trade one pair. If you don't mind me asking, which pair do you trade? And why did you choose that pair?

As someone that lives on the East Coast in the U.S., I am thinking of concentrating on USD/JPY because I could focus on it at night, and during the early U.S. session.
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