Eur/usd offers
1.1321
1.1340
Have a Good weekend everyone.
Remember Trading with technical analysis itās like driving your car using rear view mirror.Do you think itās possible to drive your car forward while looking at rear view mirror?
Even using price action itās kind of looking at rear view mirror.
the only way you can drive your car is to pay attention whatās in front of you.you donāt need to see far away, all you need to see is the next 100 feet in front of you and pay attention to people on the street not to jump in front of you or cut you off.
by knowing how to use order flow you are able to do just that drive forward catch the next 5 to 10 pips.
of course you wont win 100% of time and thatās where Money Management comes in.
I will try to send you the bids and offers sooner than i trade them and next week i give you a plain and simple money management system i use so you can implement it into your system.
with this simple money management it will be possible to make consistent profits.
See everyone next week.
Hi guys
hope this will be a good week for us.iām waiting for the market to open in the next couple of hours. most likely we may have a gap coming to this new week.
if we get a gap Iām looking to close the gap.
so if we get a gap up iām looking to sell and gap down im looking to buy.
I keep you guys posted of my positions.
Also i will let you guys know about the simple MM system i use in the next post
Hey,
I am not crashing your thread but the 10am Options cut is available on Forexlive and so are order boards.
It may be a better idea that people look at the futures trading on the CME or subscribe to an AMEX stock exchange feed that holds all the ETF shares that way you get real volume on currencies.
Market profile charts are better for displaying intraday order flow imbalances, volume, etc, all a trader needs to trade intraday with a high degree of success.
Is that what you are doing here? I like your thread, I think it is unique but trying to get a feel for what system you are trying portray.
Thanks
hello guys as predicted we got a gap down, so lets try to ride it up to close the gap
another good trade guys.
as soon as i called it price jumped 10 pip from entery. i take half out move to break even, keep the rest open and target would be 1.1243
Hi,
Good thing you mentioned forexlive i think they show their own bids and offers, sometimes i do get the same thing at they do but most times when i look at my numbers for options cut NY are exactly the same since we both have an access to the same type of information but i get different volume than them since i have an access to other pools as well.
What i do have is a feed to couple of hedge funds and Liquidity providers.Since i have a prime brokerage account have the privilege of accessing their book,which took me about 2 years after building relationship with them to get it. I Donāt really think i can trade based on futures volume in FX.
What i can see in these feeds are the intentions are LPs and banks. For example Reuters own about 80% of eurusd volume, their book is huge, but on the other hand if you want to trade GBP/JPY they donāt have enough depth in their book so you canāt make trading decision based on that type of information.
I have never used market profile , but i read about it many times.to be honest as soon as you try to analyse the price and punch it into a formulat to be able to calculate and predict the future price you get yourself into the same thing, technical trader or trading, which there is nothing wrong with that, I think it s great if anyone with any tools can make money in this market on a consistent basis. I dont care what it is as long as it makes money.but as i said before for myself personally trading with charts alone is like driving the car forward just using rear view mirror.
What Iām able to see from the feeds are simply Limit orders,Market orders when they get executed.and they enter into another book called C book.from C book acumulation of orders in volume shows what they are thinking in short term.
If you look at the order book which some brokers such as dukascopy have, all you see is just bunch of limit orders provided by LPs, those information is valuable too but you see most times they try to trick one another in the book by placing buy and sell Limit orders, trying to make the other believe something is about to happen and market either goes up or down.
they key that i use is a mixture of looking at the book(limit orders) see where imbalance is in the market then look at the C book and see how much volume is actually getting executed in that direction.Simple as that. I can see the accumulation of bids and offers, for example I give out my own bids and offers ,so i say BIds EUR/USD 1.1217 area this means i saw accumulation of buy orders on the books,usually if the accumulation of orders goes above 1 yard we see a good 8 to 10 pip move within the next couple of minutes.
in forexlive they donāt give you bids and offers with their volume.I just looked at the site.
I can tell you which liquidity provider is buying or selling,Itās hard to by just looking at the book to figure out the fake order or Icbergs, but by looking at the execution part you can figure out who is trying to cheat you and what they real intentions are.
again it doesnāt work 100% of times but i found more success with this rather than technical analysis.
Iām out at BE buying again with stop just at the open of the day
tHis is way too slow for sunday,itās like watching grass grow
Iām planing to hold on to my trade as long as it takes.my average entry is 1.12192, iām planing to add more to my position.
Iām out of the trade
Bids and offers on EUR/USD as follows.
Offers: 1.1225, 1.1190, 1.1285( this one seems like to be protective level if this is taken out we shall see 1.1300 in 15 to 30 min)so if you like to trade this if market should hit this level what i would do is i place my buy order 5 pips above the offers 1.1285, this was a great selling area last week for us,seems like now they trying to defend it, maybe some banks has a sell orders below this level.
Bids:1.1200, 1.1160, 1.1150
Options for NY cut not that heavy so itāsnot worth mentioning it here.
they are about 200 to 300 mil each which are 1.1220 and 1.1265
bids 1.1195 about 250 mill we are sitting at 1.1198 if i get filled it would be a nice play, stop is at 8 pips below 1.1195
Very cool easy 10 pips move to break even now guys.hold on to the rest,
Iām doing my best to type the money management method i use but i keep getting trades come at my desk. will do it soon.
Iām out at breakeven,sorry guys my internet is down today.
i took 2 target 10 pip and 20 pip, itā came down to 1.1195 and im long again. please if it hits 1.1195 do not go long anymore. that was a nice trade hope you guys made good money
hold on guys we are about to close the gap, very nice trade ,we made +10 and almost another 50 pips on top of it,.
Iām sorry guys my internet is down keeps kicking me out today,We finally closed the gap with some nice profits,I have bids at 1.1190 area again if we go to the low i will buy again.see you guy soon after i fix my internet connection
internet back on now.
Bids 1.1155 area this is protective if we break it runs down big, but still too far from current price.keep it in mind
Offers are at 1.1185
hi bank
can I see your resutls? as statement i mean
from how much time do you trade with your software?
the big bank trade in the market directly?
thx
emanuele