Ok, I do feel like I have to present myself in a rather blunt way to the aforementioned negative feedbacks from above. I have been on a journey with the mystical "orderflow" that so many successful traders have only given a glimpse about for a few years now, and those who actually have contributed to futures.io (formerly BMT) can find a few of my journals about this topic in the Elite section of this website. Now, I have taken Thomas's courses over at OFE, and I can say without a doubt that this man is the real deal. He teaches you everything you need to know to gauge the orderflow activity of the ES (they focus primarily on this instrument). With this knowledge, however, it can be applied to any other market. Simply put, is OFE for everyone? Absolutely not, but those who would like to play the markets in an order-flow/supply+demand aspect, absolutely. Those who are looking for a red light/green light system, this is probably not suited for you.
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Just watched a live webinar from OFE presented by MrTopStep. Thanks to MTS for hosting the webinar. This is a webinar review, not a product/service review.
I suppose one day I will not waste two hours on Saturday with these kinds of webinars, where minute number 40 of the presentation still contains the words "what we're going to talk about" and "we will get into this a bit later" in minute 62. I strongly dislike presentations which contain more than 50% fluff which could be completely eliminated, literally. I could have 35 minutes late and missed nothing at all.
As for the meat of the presentation, there was some good information regarding liquidity and the basics of how reversals occur and stop runs.
The methodology reminds me of a hybrid of Sam Seiden's stuff and Fulcrum Trader. He even used Fulcrum's "market order driven order flow" quote and appears to use his 'resting inventory' based on delta (which is based on a mathematically unsound, faulty premise--delta is not calculated in a way that represents inventory). Also, his words sound familiar and similar to Sam Seiden's webinar material on supply/demand, who's on the other side of the trade, and wholesale/retail terminology. Granted, these are not particular to any methodology; everyone talks about supply, demand, stop runs, "smart money" and so on, so I'm not saying in any way that the material is somehow taken directly from other education vendors, but the similarities are striking.
In the end, it seems OFE identifies zones of prior supply and demand, and then watches real time order flow as the market enters these zones to confirm a trade. OFE has prices of $995, $1995, and $3995 on their web site. Based on what I saw in the 90 or so minutes of this presentation, there is nothing original, nothing new, and nothing spectacular. Not that it needs to be, but it was presented as "different" and with "a whole new twist," and it simply is not, in any way. Nothing was mentioned of overall market context, fundamentals, and the emphasis was not really on how to trade, but on "zones and order flow."
In my commitment to always learning, I attend these webinars to keep myself from becoming complacent or thinking I know all I need to know. There was some useful information, but it could have been easily presented in 15 minutes, without the rest of the fluff.
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I do trade the system, and I do make consistent cash. The biggest thing to realize is that it's more of a mindset than anything. They teach primarily on the ES, and I have taken the same principles and trade many instruments now; from stocks,to fx, to futs. Thomas is a very stand up guy, and the community that OFE has backing it is phenomenal. If you get a trial, let them know icehac sent you their way, Thomas will treat you right!
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Checked this vendor out for a week. Can't say that I'm overly impressed. This order flow stuff all sounds great in theory but when it came time to trade... the few trades I saw taken were closed after 1-2 ticks profit before price reversed to breakeven on the rest. It seems to me it's a 50/50 proposition whether a minor support or resistance level will hold... and analysing order flow at these levels offers no more edge.
I look at the video recaps and find the set ups for the famous tt bands that it supposedly be a very complicate algo computer formula. is a simple and plain bollinger bands with 30 sma 2 std and another with 30sma and 3 std. boths use the close price and put it in a 2 tick range, 4 tick range, 8 tick range and 16 tick range...I will say that there is nothing magic in this set ups that can give you a edge.
........I find all the set up for all his other charts too ,and there is nothing new, is all in sierra charts studies
the guy is a very good talker and can sell you any thing but I will say in his favor that he has a better understanding of the market that a lot of the vendors( I will say the 10% understated how market work but still can not make consistent money that why they teach) , he has the right idea but he is using a arrows ageist the smart money tanks,
Vendors exist for one reason only, to make money because they can make more money selling than trading .and if he can not make consistent money why did you expect to do better than them ? you see if they sell his product to a 100 traders and 10% only make some money, they will use this 10% to promote his teaching and the rest of the 90% that loose money will permanence Anonymous in silence looking for the next teacher that can sell to them a new hope.
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