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Hi @mayazoro, you made a useful post here, but I had to read to the end before I realized that what you were quoting by @Volt was a quote and wasn't being said by you.
When you're quoting somebody, if you just use the Quote button on their post, it will open a new post window with what you are quoting already there, and when you finish your post and click Submit, the quoted material will show up the way it did here when I quoted you, so people will get what you are saying, and that you are quoting someone and then replying to them.
FYI, just a matter of familiarity with the forum.
Bob.
When one door closes, another opens.
-- Cervantes, Don Quixote
Can you help answer these questions from other members on NexusFi?
hey, thanks...it means a lot but I do apologize if I wasn't as clear as maybe I could have been in the original post.It's funny how you can write something and think it makes perfect sense and it is crystal clear to yourself but to others it is read from a different angle. So sorry to those who saw it through a different lens. I think we have a good solid answer now though.
I have found order flow most useful in getting a sense of over all momentum and for trade placement. Combined with volume profile it gives me a sense as to where we may be headed or how the market may react to certain levels. I am not trading live for my own account at the moment due to my current work situation but will be soon. I have been using order flow in my work for years a reconstructed tape gives a better feel for what the institutional traders are doing as it puts the pieces back together on large lots. You have to put the time in but it is definitely worth it in my opinion. That said everyone sees things differently. Best wishes.
There is more to making money from trading than what methods one is using to determine when and where to enter and exit. You need one or more setups that have a statistical edge and sufficient self management to trade only to your setups.
Order flow on its own is no silver bullet but being able to read and understand the volume that has traded and possibilities based upon what liquidity is being advertised is for sure better than any method that does not take volume into account. Price and price-based indicators are only showing the after effects caused by volume and this is why being able to read and understand volume is important.
You could have the best understanding of order flow that there is however but still lose money if you don’t apply this understanding in a methodical and repeatable way.
Much of what is promoted online around order flow is quite basic and opaque. If a vendor or educator is opaque it is likely that they do not understand what is happening from first principles. Those that do, and can explain things simply from first principles are those that can help you incorporate this understanding into your trading approach, however, a trading approach must be underpinned with a playbook of setups. So many traders just bring up their chart and look for some undefined ‘opportunity’.
Wanting to learn about "order flow," I've subscribed to Bookmap (bookmap.com) at $50/month plus data fees (and intend to continue to do so). One of the benefits of being a Bookmap subscriber is being able to listen to Bookmap's educational director, Bruce Pringle, present a daily, one-hour presentation on Bookmap use, in which he concentrates on discussing the current ES contract in real-time. Mind you, this is NOT a chat room or trading room. It is a professional trader and Bookmap employee analyzing current, real-time data, mainly ES, some NQ, occasional CL, and from time to time various stocks using Bookmap. It's up to each individual to decide if that is helpful to him or her and how to use it.
His daily "advanced" presentations, from 8-9 AM Pacific, are open to the public on Fridays. If you are interested in order flow in general and Bookmap in particular, I suggest that you sign up and listen to one of more of Bruce's free Friday "advanced" presentations. He also discusses Bookmap in general in daily "basic" presentations from 7:30 - 8 AM Pacific, which are open to everyone, although the hour-long "advanced" presentations are much more worthwhile. Registration is available on bookmap.com
