Forex Level II (Market Depth) follow me with order book

i´m 4 years trading traing to find holly ; ) but at this point since january i´m making 5% montly base on descipline .
yes y thing any startegy will work if you got discipline and maney manegement .
suplay demand is the real thing becouse some times the price go against the news wy ? suplay demand .
i´m using just simple ma 50 1d 4h 1h and wining
i dont think the mt4 wil be aproblem for my since a get 20 to 50 pibs eatch trade .
since a like to learn y will kepe an eye on this . thanks for the info that you are giving tu us

Another day Another scam

Hi guys sorry for replying late.

If you think this is mambo jumbo skip to second part.

Part 1.
So lets start by saying couple of things before i go deeper into trading business. First thing you need to know is It's been proven scientifically that our brain receives 400,000,000,000,000 bits of information per second, but we can only process 2000 bits of it and we can not process the rest of it.I'm not a brain surgeon or something but i have don't lots of research back in my starting days of trading to figure things out.so in meanwhile I'm sharing my experience and also teach you what i learned as well.So lets get to the point.If you can rap your mind around this concept then you can understand that any of us including myself when we engage in a conversation we can be right and wrong at the same time, it all depends in any given second what kind of information our brain is processing.So please don't judge me if i say anything that interfere with your knowledge.another thing that you need to know that more than 80% of us have ADD( attention deficit disorder),so I know for the fact that banks and most LPs(liquidity providers already know about this.when i say we most have ADD it means that it's been again proven that us as human being we can not do something consistently exactly the same more than 2 times in a row.this involves discipline. so these banks already know that majority of us wont't be able to make money in the market consistently.i dont get into more details right now as this is another topic for later on.
So these banks and LPs already know only 3% which i say it's more like 1.5% of us can make money on regular basis.
They have created charts ,chart patterns ,Etc.. so we think this is an easy job.( i get into these problem later as well)

I think the only way to make money in any market is by knowing where the supply and demand is.
as you all know until recently about 2 years ago there was no such a thing as forex market depth, and eventually when brokers saw it's getting hard to please retail traders they started coming up with Ideas such as ECN, none deal desk( total BS) etc...and after all these some brokers started introducing market depth which is totally useless.they added this as a tool.

so first you have to know how brokers operate before you figure out how to beat them at their own game.i make it quick, most brokers either regulated or none regulated work in 2 ways , they either take a risk on your trade and hedge your positions or they route your order to LP or banks.
if they take the risk they get to profit 95% of your loses and if they send your order to LPs or banks they just make a commission. they cal also markup the spreads.
in any case they should work with Lps to get the feeds and pricing into their platform.usually brokers work with 5 or 6 different LPs. all brokers with multiple feeds they use an aggregation engine to be able to show you the best bid and ask of all these different LPs. which right here total BS stories they are feeding us.
I know this for fact that when i opened my first Prime Brokerage i obly had one feed and spreads that you get is raw. I mean i have seen 0 pips alot up to 0.2 that's the max you see, they charge you a minimal commission, depends on your volume.but even with all that commission you never pay more than 0.5 on EURUSD. so when my account started to grow i faced some execution problems, my order wouldn't get filled, started to cost me more to trade bigger volume.so i asked them for solution they gave me other Lps and connected into my feed. execution improved, since i was splitting my orders between different LPs.It was then when i got my next feed i realized that i was getting ripped of by my brokers since they markup the spreads.they were not actually giving me he best spreads of their own LPs, so to make this short what they do is they use the worst bids and ask of their LPs coming into their aggregation engine and then they mark up the worst spread and give it to us.

I heard this before from many other people but i dont know why i stuck with my broker for a long time.so after a while i figured i have to go prime if i want to make money.problem with going prime broker is you need a million dollar account with someone Like BMP i say million that's if you know some insider to get you in otherwise you are looking at 5 million plus.just opening an account with any prime broker doesn't help. you still need to do your own research, asking questions.you need to know how much volume they are able to fill your order per clip.you need to know what's their average daily transaction.you need to know if they allow hard bid stops(many different names but basically you need to know if they let you buy and sell at the bid, buy and sell at the ask, inside the spread, you want your stop to be at the bid or ask).
so after i figured these things and even with Prime broker i wasn't making money until i was introduced to order flow. which i got the feed after 2 years of being with Prime broker.plus i found friends in hedge funds etc...
so once i found these feeds took me a while around 6 months to figure it out.these feed works great but way different from stock market Level II or futures market volumes.I know some people may say you can find these info in futures market and i say no you don't.
I'm not here to convince anyone of anything i say,I'm simply sharing my experience and teach what i know, and send out my trades.

Last Look or Firm Orders
I will talk about HFT later.
What i get in my feed is market orders not Limits.I also have an access to Limits orders but the problem with seeing limit orders which all retail brokers will show you only limit orders are that they are last look and they are not firm limit orders.If you want to be able to make any use of these Limit orders you should be able to at least know they are firm no last look.difference between last look and firm orders are this, how many times you get slippage with your brokers especially during the news.
Last look which you see at 99%. these example are not for retail orders. Here where HFT comes in. lets say you want to know where market sentiment is.one trick i use most of the time is i palace a large order I'm talking about 200 lots or more.which i have to say getting harder and harder doing these things these days to be able to trick others.first thing i do is i have to find out an aggressive buyer or seller, by doing this you should only be using algo to pull this off.warming you wont be able to do this with FIX connection, you should use ITCH and OUCH connectivity(if you use FIX you getting market data every 5 milliseconds still very fast but when you use ITCH OUCH you getting it every milliseconds) so get back to the point, I'm trying to find a aggressive buys or sellers. the key is to be able to create your own Order type.Lets say i wanna place a 200 lots at the bids to see whos going to hit it and fill my order. i start sending my order to 4 or 5 different ECNs.But i actually dont want that much exposure in the market.so we creat a market order type with algos and we place the 200 lots into their book and hold it in a very short time I'm talking about millisecond done many times a day.so lets say i send my order for 200 lots at the bid 1.1200 to see if i find aggressive sellers.sometimes we do it on the bid and ask .but lets stick the the same example and we have time limit on our Limit order( like 100 milliseconds) so if we get lucky and someone tries to hit our order hard we know there is an aggressive seller in the market.so if we do this and someone tries to hit our order and we cancle before he sends his order we rejected his order and they get filled at the worst price which is 1.11998 for example.so he wanted to sell at 1.1200 but if there is not much Liquidity he gets filled lower and slip.
this is called Last look so either we reject the order or bank or Lps reject the order.the only difference between us and banks are this,if we expose our self to the market our order gets filled not matter what but banks they have the ability to reject your order if they dont like it with couple of milliseconds.This is one way that banks they started to avoid HFT guys to be able to pull these off.with last look the price you see is not necessarily is what you get. so lets say if your broker shows you

bids offers
1.1200 10 mil 1.1201 10 mil if you try to hit 10 mill at any price you may not get filled at that price since they will pull or reject it before you hit it within milliseconds. Thats why using their own build platform you will never ever ever ever able to hit those numbers unless you use the same technology as they use which is OUCH an ITCH.so in another words HFT is not necessarily means you buy something sooner than someone else and then sell it to them.Lets say i wake up everyday in the morning and buy a coffee at 8 am. if you know this you could get up sooner than me buy the coffee and sell it to me for 1 cents profit, if you do this over an over this adds up to a good profit. don't worry HFT is done. those days are over almost.and it's time to make money.
so we are using these type of tricks to be able to see where market could go in the next couple of pips.again doesn't work all the time but it works great for us.

so Limit orders that you see from some brokers feed is useless without actually being able to place large order init.
Firm price is different, what you see is what you get. you are able to hit those prices no problem.there are many other good thing about firm prices which makes the market transparent and LPs actually need to compete with one another to put their prices out to be bought or sold for profits.

I'm going to rap this up for now and talk about my way of trading next time.

Sorry guys this could be confusing for some but please do ask questions.I will definitely answer everything tomorrow.I was going through bad times today so my brain doesn't work properly.

Just before i rap this up all i have to say is i still think this is the best way to trade,again imagine what drives any market? supply and demand.many people talk about market psychology they dont know what they are talking about, maybe i dont either, but market psychology in my mind is to be able to figure how what the mass are doing, so if you know there are 500 million on the buy and 100 mill on the sell where do you think the price will go next?

some people love technical analysis nothing wrong with that, but do you think by just looking at your rear view mirror of you car you can predict where the next street is consistently?So i don't think by just looking at the patterns which is made by banks and brokers for us to lose money in long run , any of us is able to stay in this market over 3 years.But when you actually look in front of you in your car and periodically look into the rear view mirror you try to avoid some one rear end you and get into an accident.

Next i will talk about MT4 why not use it as price feed and how to make money my way.
I'm sure some people will disagree but i dont care what they think, if i can help one person to be profitable that adds to the winners. no other intentions till they make the intentions for me.

Happy trading everyone.

By the way i give out my bids and offers once a day so you can treat it as your support and resistance.

many times during the day i tell you exactly bids and offers that we get hit at which shows us which direction they think market will go.

on these bids and offers i tell you the amount they buy or sell at. I'm taking these trades with anywhere between 5 TP10 pip stop and with 4 targets of 10 , 20 , 30 and 50 pips.if you already know how manage these order great if not let me know so i tell you what i do usually.
this should be straight forward.
and once my first target is hit I take some money off the table lock in profits and move my stop to break even and wait for other targets to hit or break even.

offers 1.1270 10 pip stop 400 million something like this. that i say exactly what I'm doing.as we speak i saw his order . so i thought i give an example.dont know if it works out at this time but usually between 3 am to 12 pm EST they work great.

another thing you have to keep in mind is that as for your stop losses you should use hard bid stops.
so lets say if i say offers 1.1200 and 10 pip stop at 1.1210 that means the bid price should be 1.1210 for you to be out not the ask price.

I wish i was short at 1.1270 if price hold below 1.1270 in another 2 min i will go short actually.
same stop which is 10 pips in this case but depends on the volume i will say if i'm using a 5 pip stop.

Bids: 1.1205 1.1215 1.1155

Offers: 1.1305 1.1320 1.1285 again and again watch this carfuly if im not around

nice drop.offers 1.1270 only moved by 1 pip against us i was short at 1.1265 originally and when got to 1.1270 i went short again now i took some off +10 pips on both trades and moved to break even.

This is a good read on Last look pricing and
http://www.reuters.com/article/2015/...0VH0ER20150207

I'm seeing whole bunch of offers at 1.1275 and 1.1285 volume unknown yet, something to keep an eye. i will let you know couple of minutes before i take any trades on these 2 offers

I wanted to get some sleep but they are playing the fishing game again, so here is what i see between bids and offers, if price hold between 1.1285 to 1.1290 by 4:30 am EAST i will go short with stop right at 1.1290. i will use marker order on this one since price could jump last second.

offers 1.1285 held pretty great and now down 10 pips, since June 12 we made good money by shorting 1.1285 area all long. seems like every time we hit it, some banks try to defend their shorts, so disregard last post since we blow trough 1.1285 like bluet.

I mentioned offers 1.1285 very strong now you see why,

Since a long time this is the first new thread which is very helpful and has some good and powerful informations.

Thank you for that and keep it up

offers 1.1330 1.1325

volume for those offers unknown,
I'm waiting to see where the sentiment is i let you know.

we are sitting at around 1.1285 area again once we hit that level they ran it down for a good 10 pips, i didn't take it, since there was many conflicting orders.

looks like someone accumulating short orders around 1.1330 ???

yes but there is no known intentions at this point, i will know in about 12 min

I'm looking for short trades. I'm still waiting for another 5 to 10 min to see how it plays out, keep you posted