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4 weeks into orderfflow

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Legendary Guesser
Reading UK
 
Trading Experience: None
Platform: Prorealtime
Broker/Data: Interactive Brokers
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crille123 View Post
I'm also on the look out for educational sources and hope that @Grantx can provide some good resources.
I studied almost everything from MarketDelta and a lot of other videos (futures.io webinars) for a couple of days. I learn a lot, but it's never in depth/long enough. I also found a lot of paid courses from many platform providers, but they are too expensive for me.

Right now I'm having a look at the free video archive from JigsawTrading. It's a lot of content and seems great! Have you watched them?
Source: Free Tape Reading and Order Flow Training Materials

Educational resources at jigsaw are pretty good. Do the drills they recommend and you will learn. Ive learnt by pulling bits and pieces from different resources and putting in the screen time. I highly recommend that you spend time getting your trading setup the way that works for you. Dont spend too much time questing after learning material. Pull up the charts and play around, ask questions, don’t worry how silly they sound, no one else’s opinion of you matters.
  1. Know your platform. Thrash the crap out of it. Be a pro with it. You don’t want to be live and wonder to yourself ‘what if I do this?’.
  2. Know how different entries affect you ie going short by hitting into the bid or joining the offer. Vice versa for longs. This makes a difference when scalping on a thick market.
  3. Spend time entering trades with tight stops and big rewards. Watch how quickly your account and patience get smashed.
  4. Enter randomly with big stops and big rewards. Watch how quickly your account and patience get smashed.
  5. Analyse every single trade with multiple rules and indicators for entering. Watch how quickly your account and patience get smashed.
  6. Stare at the ladder watching orderflow stacking and pulling and see how crazy you go. In my opinion paying attention to sitting orders is a complete waste of time. The only time I look at it is for signs of absorption.

The one thing that is the absolute truth is what orders have been executed on the exchange. If you look at the screenshot you will see how I scan the different elements of an instrument. This works for me. Keeps me looking at different things but I never focus too much on one thing. You will see I put an xxx marker on the screnshot. That just shows how a low volume area lines up perfectly with a swing low point, so regardless of whether you are a volume purist or a charting purist it all amounts to exactly the same thing at the end of the day. I guess what Im trying to say is that you mustnt get too hung up on one thing. There are so many traders that every technique is self fulfilling.

Hope that helps.

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