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Order Flow Trading

Quoting nqm0t0
I joined several of their webinars and I think Orderbookfx indicators are not reliable, they don't have any predictive power at all. Their strategy involves more price action ie nothing special. Stick to the classics of trading!
i agree, i kept quiet for a while, but seemed i had to review as i had a week inside the live trading area, i was very excited about it, and was a hit in the face to find it very unreliable. Few things like, once a trade was opened, you would of thought with orderbook you would be confident, but the trader constantly said things like "i hope it goes down now" "it SHOULD go up now" hope is a bad thing to have in Forex, the orderbook would show a sell for less then half a second, then less than 5 seconds later everything in the book is showing buy then sell then buy!! all within seconds. When the trade was losing, not only did they double up but then TRIPLE up on the trade, hoping to average out, until we finally pulled out and triplling and doubling up meant we lost all of the days earnings and some!
I been doing great with good ols supply and demand and technical analysis.
Quoting deankenny21
i agree, i kept quiet for a while, but seemed i had to review as i had a week inside the live trading area, i was very excited about it, and was a hit in the face to find it very unreliable. Few things like, once a trade was opened, you would of thought with orderbook you would be confident, but the trader constantly said things like "i hope it goes down now" "it SHOULD go up now" hope is a bad thing to have in Forex, the orderbook would show a sell for less then half a second, then less than 5 seconds later everything in the book is showing...
deankenny, I'm glad to hear you been doing great. I've been in the room for much longer than a week. Overall, win% and win$ far outweigh the losses. Nick uses M1 timeframe where I think the usual blah blah technical analysis does not work. Instead, the mix of price action, orderbook and cycle lines produces good results. Perhaps you can adapt the method to trade more conservatively to suit your own style of trading and money management.

For me, it is an eye-opener to see the way Nick manages his trades, both winning and losing. This is not martingale strategy, where every subsequent entry is doubled until disaster. It is like dancing with price action until the music stops, and then, applause.
@deankenny

Yes, you're absolutely right. The funny part is, that the guy himself doesn't hold much belief in his indicators either. As you said, when the price goes against him he continues to bet against it and prays for the price to come back like a newbie. After a while he starts swearing like a wall street guy and regrets the webinar. Says we are distracting him. What an idiot.

Do not even attend his meetings its bullcrap, period.

This stuff is complete scam, I don't believe his indicator data is derived from institutions, I don't believe in his winning percentage either.
Because what most people never listen to is that my trades are without leverage. So a trade here a trade there. Maybe reading something on martingale, then looking at what I accomplish. Well they haven't actually read then.

The positions I take, are initially <20% of account equity. So by time I've completed (if need be) the best average price 91.3% of the time they are profitable. Today was the exception, took a total of trades to be 4/1 leverage. Which happens randomly but even those are the most lucrative.

So for those that are trading 100/1 leverage, best of luck, I'd put my returns up against those any day any time, they can't compete. I'll trade far fewer hours, far less trades and at near zero leverage.

We've had streaks over 100 profitable trades without a loss and without leverage while still punching out 1% days like clockwork! I'll stick to my trading, its made far more in profit
The funniest part is that those that attempt to double dip into free access of OrderBookFX are the ones that are complaining. Those that have attempted 5 or 6 times we block, or those that request under multiple email addresses, we block.
I was able to check out the trading room for one session a few months back and Nick wasn't there and another Guy (forgot his name) was trading. It is mentioned that Nick trades with 1:1 leverage. Orders are shown in pips on the screen and so is P&L. It is very nice that they offer the free trail.

The days was a very tough day to trade (ranging). The trader would open a position based on order flow indicator and as soon as the position went against him by 4 to 5 pips then another order was opened in the same direction and then a few pips later another and then the 3 positions were closed almost at BE. No SL was used. The total for the session that I attended was -69 pips.

It maybe seem not fair to base my review just on one live trading session but here it is. It seems that the indicator isn't very accurate but it gives you a point of entry. Once trade is gone 5 to 10 pips in your favor then you close for a profit and if you catch a strong move then you can bank 15 to 25 pips. If the initial trade goes against you then that is when the averaging down begins with no SL in hope to close at BE or a tiny profit. Even if he (trader) had made 70 pips that day, I would pass on this method and the indicator. Also their pip total isn't what you may think because of their smaller initial position size.

It is my humble opinion that this type of strategy may work in a 1:1 leverage, $1000,000.00 account like Nick says that he trades. This type of trading is futile for those using highly leveraged accounts. How much can a trader with a 10K account using this indicator/method who scores 30 pips a day with over 90% hit rate (their claim) using 1:1 leverage make? I let you answer that for yourself. Happy Pipping to all in 2012...
Trading can't be taught but it can be learned
  • Post #327
  • Quote
  • Edited 12:02pm Jan 12, 2012 11:32am | Edited 12:02pm
The theme of the negative reviews seemed like the order flow indicator wasn't accurate at all for first entry signal, hence the need to manage the trade using techniques outside of the order flow indicator. For those who didn't like the indicator, would you still put it on your charts while trading your own methods like Supply/Demand etc? Is the information no use at all?
Quoting bstay2
The theme of the negative reviews seemed like the order flow indicator wasn't accurate at all for first entry signal, hence the need to manage the trade using techniques outside of the order flow indicator. For those who didn't like the indicator, would you still put it on your charts while trading your own methods like Supply/Demand etc? Is the information no use at all?
It's very useful. You have to know how to trade for one, and analyzing price action is important. But yes having supply and demand information available "before" price action confirms a move is important. What's funny though is someone will visit the room for a day or two and see a noisy non-directional market. If they don't understand what's going on (through Orientations etc) then they ignorantly jump to conclusions. That happens a lot here because of the level of experience someone assumes they have when in reality its non existent.

Here's a casual couple hours.. 7 trades 7 profitable. There are yes a few trades that the position was built up.. but all of them (INCLUDING THE ONES that I sold right on the top of a spike or bought right at the bottom of a trough were done with order flow. All else fails in this consistency.

So for those that are looking for freebies, best of luck!
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Quoting nqm0t0
@deankenny

Yes, you're absolutely right. The funny part is, that the guy himself doesn't hold much belief in his indicators either. As you said, when the price goes against him he continues to bet against it and prays for the price to come back like a newbie. After a while he starts swearing like a wall street guy and regrets the webinar. Says we are distracting him. What an idiot.

Do not even attend his meetings its bullcrap, period.

This stuff is complete scam, I don't believe his indicator data is derived from institutions, I don't believe...
Calling someone a "scammer" or an "idiot" is kind of funny to me, when that individual trades daily (and profitably) for a living & you probably don't..Maybe Nick knows something you don't?

I've watched Nick "bet against" a move, stacking orders until price suddenly moved in his direction, exiting with a massive win. I've watched him manage his trades when things weren't going well, and STILL come out on top b/c he has a system using Order Flow, Price & Cycle analysis. Nick has always been open, honest, and quick to answer any questions i might have. He even extended my trial access for a few days to help me get a better grasp of the indicator.

So before you go and act childish & insult someone who's been nothing but honest, take a step back & put yourself in check. This isn't High School.
Mac.. Hes one of those that's looking for countless trials with OrderBook...

Kinda funny though because after all the negativity I've had lots of inquiries today. I sit back and chuckle.
Quoting macleod77
Calling someone a "scammer" or an "idiot" is kind of funny to me, when that individual trades daily (and profitably) for a living & you probably don't..Maybe Nick knows something you don't?

I've watched Nick "bet against" a move, stacking orders until price suddenly moved in his direction, exiting with a massive win. I've watched him manage his trades when things weren't going well, and STILL come out on top b/c he has a system using Order Flow, Price & Cycle analysis. Nick has always been open, honest, and quick to answer any questions i...

Mac...There's a difference....between us that do and those that don't. I trade for a living, and as a business. Matter of fact there's several million reasons why my tradings been successful. Its not because I don't understand price action, not because I don't understand liquidity and its analysis, or order flow or for that matter arbitrage. But there's always the armchair experts that have one hand on the keyboard and the other on the stuck in their a$$. Trying to get to clear thinking. lol
For those that haven't attended prior, seems registration is overflowing at the moment. Here's a few sessions for all of next week. 10 AM EST

So the schedule is set for all of next week pick your day. HERE (http://rockshore.omnovia.com/register)

All the activity people still see the value in knowing what supply and demand is doing.

The nice thing about order flow and supply and demand is that you can create your own strategy with it. You don't have to use mine because its worked for years, but develop your own knowing that supply/demand is on your side when you trade. I understand that I may have 20 years more experience than others, and most may not grasp price averaging or tape reading and nor would I expect them to. The purpose of the sessions is to introduce you to something that has proven itself over and over again without fail.

So for those that haven't attended, you should. It costs nothing anyways... Happy trading.
I'm new in this thread; the Register web page https://rockshore.omnovia.com/register/ seems empty of selectable events.
Any clarification, please?
Quoting Pardy
Those watching the indi on the 5 min chart, there was a clear signal on EU 15 mins ago, price is now up over 30 pips. Just need one such trade a day.
Pardy
I've been meaning to ask; what is the average SL for these trades?

Thanks,
Neo
Sentiment: Short on cash. Long on hope.
Tried to contact the tech support and Nick after the webinar; got no replies.
I've finally got the invitation to register but... is there anyone attending today Live Session? It's been scheduled at 7:00 AM EST but still no one into the room after 25 minutes; no messages, no sound ... I would appreciated any clarification by Nick or anyone else, please.

*** Nick contacted me recently telling me that the session has been rescheduled to tomorrow because of Omnovia issues.
Quoting paulg
I've finally got the invitation to register but... is there anyone attending today Live Session? It's been scheduled at 7:00 AM EST but still no one into the room after 25 minutes; no messages, no sound ... I would appreciated any clarification by Nick or anyone else, please.

*** Nick contacted me recently telling me that the session has been rescheduled to tomorrow because of Omnovia issues.
It's the day of the re-scheduled live session at 7:00 AM and it's 7:13 AM; got no invitation link to register meanwhile; emails to support, Nick, etc did not help. Dunno what to think.
i see nothing on the link for upcoming events either. Rockshore?
Rockshore/Nick,
It seems as though you may be offering something that gives traders a great edge, but I am not seeing any live webinars or replays available on your website.

Does the service still work? It seems to me if OrderBookFX ever got cut off from one of their data sources the quality of the service would go down dramatically and yield incomplete order book information.

Please let us know if this service is still valid and if you are going to do any more webinars in the future.

Thank you!
-nbalance
Yes, it's still rather active and growing! We've gone through some organizational changes, now all data subscribers have access to the Live Room for two hours a day. It's been a great enhancement as the room is used to teach by example the trade setups that bring us over 95% accuracy.

We're in the middle of producing video tutorials on each of the highly effective/high probability trade setups that we see and use, those should be out within days for everyone's viewing.

So, yes we're still quite active!!!!!! Active enough that it seems I don't have much time to keep updates on here but they are coming!

There are webinars scheduled currently for Data Subscribers, email us for more information.



Quoting nbalance
Rockshore/Nick,
It seems as though you may be offering something that gives traders a great edge, but I am not seeing any live webinars or replays available on your website.

Does the service still work? It seems to me if OrderBookFX ever got cut off from one of their data sources the quality of the service would go down dramatically and yield incomplete order book information.

Please let us know if this service is still valid and if you are going to do any more webinars in the future.

Thank you!
-nbalance
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