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Diary of an orderflow noob
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Created: by sparks01 Attachments:0

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Diary of an orderflow noob

  #1 (permalink)
Elite Member
Southampton + Dorset/England
 
Futures Experience: Beginner
Platform: ninjatrader
Broker/Data: Ninjatrader, Continuum
Favorite Futures: CL
 
Posts: 31 since Jan 2015
Thanks: 17 given, 7 received

Diary of an orderflow noob

Thanks for stopping by my trading journal.

I will be using this to track my progress through learning more about order flow.

A bit about me.
I'm an Electrical engineer based in the UK, trading on and off for a few years but only recently settled into a routine with clear set goals.
Due to my shift pattern I get some weekdays free, these are the days where I will be focusing on trading, if I am working a weekday then I will not be trading.

Goals.
Become familiar with order flow to complement trading.
For the next few weeks, I will simply be observing the order book around points of interest, with my finger firmly off the trigger.
Screen recorder in hand to review from each day.
Once i am happy there is some progress, I will be moving onto SIM trading, then eventually trading with my real account.

Method and trading software used.
Areas of interest I will be leaning toward are those identified by;
-TPO
-Volume Profile
-VWAP
-VWAP 1st, 2nd, and 3rd standard deviations
-Chart structure
Orderflow use
-Focusing on orderflow for observing momentum around points of interest, large orders, and the effect of those large orders.
Trading software used;
-Ninjatrader 8
-Jigsaw Daytradr
-Camtasia

Markets
My focus will just be on crude oil.

Trading times
At first my focus will be the US open and first hour of trading, eventually expanding to the UK open, and the US afternoon.

I am hoping to set up a Youtube channel to upload videos to link to this journal.
And I welcome any input, advice, or comments.

Thanks for reading and stopping by, good luck in your own trading journey


Last edited by sparks01; May 17th, 2018 at 09:51 AM.
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  #2 (permalink)
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  #3 (permalink)
Trading Apprentice
Reading UK
 
Futures Experience: None
Platform: Sierra
Favorite Futures: Euro
 
Posts: 24 since Jan 2018
Thanks: 20 given, 62 received


Hi sparks01.
What software will you be using for TPO analysis and how will you use it in conjunction with volume profiling?
Also curious why you choose to pursue orderflow trading? The reason I ask is because you have all bases covered, tpo, volume, chart structure, vwap, orderbook and possibly some indicators on the chart as well? Each one of these is a discipline unto itself. Putting them together and trying to make sense of it all is like mixing tequilas with vodka shots,beer, and jaggermeisters...It's not gonna be pretty unless of course you are already a hard-core veteran and have got this.

If you're just starting out then consider doing it with a single tool. Pick one and master it.

Good luck

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  #4 (permalink)
Elite Member
Southampton + Dorset/England
 
Futures Experience: Beginner
Platform: ninjatrader
Broker/Data: Ninjatrader, Continuum
Favorite Futures: CL
 
Posts: 31 since Jan 2015
Thanks: 17 given, 7 received


ZapBrannigan View Post
Hi sparks01.
What software will you be using for TPO analysis and how will you use it in conjunction with volume profiling?
Also curious why you choose to pursue orderflow trading? The reason I ask is because you have all bases covered, tpo, volume, chart structure, vwap, orderbook and possibly some indicators on the chart as well? Each one of these is a discipline unto itself. Putting them together and trying to make sense of it all is like mixing tequilas with vodka shots,beer, and jaggermeisters...It's not gonna be pretty unless of course you are already a hard-core veteran and have got this.

If you're just starting out then consider doing it with a single tool. Pick one and master it.

Good luck

Hi Zap,
Thanks for taking the time to reply to my journal in the making.
I am using FinAlg's TPO indicator for Ninja 8.
I'm perusing order flow as it is an interest and skill I wish to pursue and improve upon.
I have a basic understanding of the other disciplines mentioned, and am only using these as basic guidelines to highlight what the market is doing, eg current balance, basic support resistance.
I may remove some, but that what this next few weeks are for me, sorting out what i use and do not, while furthering my knowledge on orderflow
If it goes well, i may go and celebrate with mixing tequilas with vodka shots,beer, and jaggermeisters :P

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  #5 (permalink)
Trading Apprentice
Reading UK
 
Futures Experience: None
Platform: Sierra
Favorite Futures: Euro
 
Posts: 24 since Jan 2018
Thanks: 20 given, 62 received


sparks01 View Post
If it goes well, i may go and celebrate with mixing tequilas with vodka shots,beer, and jaggermeisters :P

Cool man, cool. Make sure you include that in your video journal on youtube. Getting legless can be considered part of the R&D phase

Im quite keen to see your TPO analysis. Please throw some charts up when you have time.

Best of luck.

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