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Can any one recommend a course that teaches you how to read the footprint

  #28 (permalink)

Membership Temporarily Revoked
London, UK
 
Futures Experience: Master
Platform: sierra chart, Jigsaw Trading, Bookmap
Favorite Futures: 6E futures, Cable
 
Posts: 93 since Aug 2012
Thanks: 3 given, 123 received


paps View Post
well an interesting thread. I like to see what others are looking into.

also interesting to see one of the few videos out there which try and capture Js & BKMap. I like this statement of yours as it is an important consideration in OF "Either liquidity is pulled and price goes through, or it remains and depending on the volume and momentum of marker orders, it either reverses.. or goes through.. I know this is not useful info but there is no right/wrong answer."<<The holy grail of Limit and Market Orders.

@dom64 i use both JS n BkMap and both have very unique insight into the world of trading (Limit Orders/Market Orders and how they are used). So it's great that you show a video of the GBP being traded. Would be great to see videos of the ES being traded with Full liquidity of the day "RTH". I guess that might show people what you trying to illustrate. Either ways there are many videos out there by JS itself or Bkmap itself. Use of both and exchange of context between the 2 tools is not something i have seen very much......and both have it's core strengths and imho the best OF tools available to retail.

Either ways good to see someone using these tools.

I did see in your videos something called HFT candles. Wonder what that was as you did not share that screen.

cheers n best

Thanks Paps, glad you find it interesting. I can't do without Jigsaw and really find Bookmap valuable too, so the combination of both, to me, is key. In my opinion, the fact that nothing is definite and a set rule is what makes Trading difficult and one of the main reasons why the 90/90/90 statement is probably true (90% of traders loose 90% of their capital within 90 days). From young age we are conditioned to
learn rules. If x then y or if z then w type of reasoning. Here, we have to make do with something which might be gamed (limits) and something that might or might not be what it appears to be (is a market order an "intentional" aggressive decision to buy/sell or is it just exiting a long/short position?), and make sense of this combination. Sometimes it is what it appears to be and sometimes it is not, but this is completely against what we spent our life learning. There is of course much more to it than just that limit/market realtionship, but in effect this is the only thing that makes the price move.

I wish I could tell you the HFT Candles tab is some magical indicator but I am sorry to report it is not.. Just a candle chart where I have added a number of order flow related stats that I find useful.

Cheers,

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