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I posted this on another thread. I had a group of friends that all purchased the system and training. Expensive and worthless is what I gained out of it.
No better no worse than any other discretionarily used software. With some nice bells and whistles though. I sat through the sales presentation and I didn't see it being any different, but my friend gave up after 60 days.
One of the keys to using delta/order flow/ @bid vs @ask is that it is different in different markets.
As we discussed on another thread - the use of limit orders and market orders is different across thin and thick markets. The same can be said about spoofing too. Not only that but the volatility changes too, the ES this week was different from the ES a month ago.
So - if you see a tool like this, if it offers a panacea to trade management in ANY market with a single fixed rule system - then it's nonsense.
Take a look at a cumulative delta study of the YM and then one of the ES. On the YM - price goes up, delta goes down for extended periods. The market is effectively driven by people entering on limit orders at these times. On the ES, you very rarely see the same thing.
Tape reading and order book analysis are market specific. OFA may have resolved this somehow and have some sort of self learning system.
The key to trading is making decisions yourself. OFA has some stuff that looks useful to me - the stuff on price clusters is good and I use price clusters myself but I do that with a low timeframe chart. Some of their stuff is of the 'green light buy/red light sell' genre. This offers you absolution - from actually having to analyse the market and make a decision. We all looked for that when we started but I've yet to meet anyone that got profitable that way.
It seems to me that any tool that seeks to identify changes in order flow has to first, as it's foundation, identify areas of S/R. S/R are the only true leading indicators. I visited a trading room a few weeks back and was impressed with their S/R levels (from JS Services). IMHO maybe try to find a vendor that has a reliable track record for identifying S/R areas and then use other, less expensive tools to try to "confirm" if a level is going to hold. Just a suggestion.
I cant believe I stumbled on this OFA thread.
I just finished a 2 month training with them. Its funny to hear the wide range of views about his technology. I can tell you that after 19 years of position and swing trading, the last year or so, I have decided to be a full time trader. Now i'm in the process of getting my plan together for daytrading around my swing and core positions. With daytrading, I knew I wanted to start at the meat of price action. I chose OFA, It was $2500 for the video library and live trading room for 2 months.(which I just finished)
then its $2500 for the OFA pro package software
Then its $2500 for a few more options and his "trade tracker" technology which is what looks like a slidescale that is tracking buying and selling flows AFTER you are in the trade. The algo parameters identify qualified momentum shifts and automatically takes you out. Nobody in the room trades without it. (for exits only)
You can adjust the parameters in more volitile markets or just click it off.
His volume cluster charts are designed with the same momentum shifts which makes a new bar on every shift. So his charts look nothing like i've ever seen. You see all price action for that bar in the form of one directional monentum segment. I'ts weired but cool. I was still trading my 15sec and 2min charts while using his posted traderoom chart for my entries. This is no lie, Combining orderflow trading with my swing style has been the majic stick for me.
I have not bought the software yet. Thats why its funny I found this because I'm trying see if there is anything similar here. So far my head is spinning with the cool ways you all work together building stuff.
I can say that OFA is pretty expensive but is in no way, a scam
As with any software, If you aren't consistant with your rules and cut losses, no software will help
It will take me a month to look at all the stuff thats here. I'm excited!
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