David
I would be interested in any learning on order flow
thanks
Rog
Okay guys,
I really need to pop out just now and get some stuff posted before the weekend.
But what Iām going to do is work on the entries with you guys so that you can spot the proper ones. I may even re-define them to make it simpler for everyone to know exactly where and when to get in or stay out. So leave that with me and I will think about it while I watch the formula one this weekend with a few beersā¦come on Hamilton!
Anyway, catch you later!
[B]Do you like the structure in which the analysis is delivered here, or do you feel its hard to understand.[/B]
Very easy to understand.
[B]Do you find the thread to be hectic/frantic and hard to follow[/B]
Only when people post irrelevant stuff. Otherwise your posts follow on nicely from each other.
[B]Do I explain things clearly[/B]
Absolutely.
[B]Would you prefer another way of me delivering the analysis and charts (style/format)[/B]
Nope. Great as they are. I have to agree with Simondav that higher res images would be helpful, but theyāre really not necessary, especially with the level of detail you put into the explanations.
With regards to the orderflow trading, Iād be very interested in that if you had the time and are willing to teach us. Presumably you need some sort of orderbook access for that? Or am I mistaken?
As always, thanks a lot for your time, David.
Simon,
Just click on the chart, then click save as and saved it as Jpeg image.
Click on the download from google chrome or internet explore.
you can view and enlarge it from your window photo gallery. Thatās what I did.
owl
David:
yes, could you please teach order flow trading also in this thread. Very informative thread and thank you for taking time to teach us all.
Dear David,
Iām having a hard time catching up when reading through the thread but i will find my time during the weekend to follow up and hopefully get to ask a few reasonable and quality question. However, there is something i would like to ask which is how do you start your day of trading? Do you filter with news,pairs etc or you have a few favorable pairs to trade on?
And also, when i was reading your illustrations, i canāt seem to understand the method to identify a bull/bear zone(BBZ) from chart, is it necessary to be around 23.6 and 38.2 fib line? Maybe you could go detail on there so i can pick up easier.
Sorry if i somehow repeated the same question again. Have a great weekend! Oh yea, Lake District would be a nice place for me to do home trading if i am as successful as you. Hehe
Jack
Analysis is very detailed, and easy to understand.
It is when its full with questions, every decent thread i have followed is pages and pages of material which is useless to most readers wanting to learn. The inability of someone to google a question rather than post here is mind boggling - your time is previous, and i can see this fast becoming a hinderance to you if it continues this pace.
Yes, all clear
you may want to do a one off pdf 2 pager & post at beginning - which explains common terms / the techniques etc & then you can just refer every lazy newbie to the pdf file on page 1? and then stick anyone annoying on āignoreā.
I dont know how else it can be done better. come around to my place & trade for me?
David Jones is well known then, he was really smarmy. agree re your comments about them being bookies, but when you have allegedly reputable brokers (MF global - primary dealers!) going bust & punting on sovereign debt using client deposits then who can you trust? fxdd just been done for virtual dealer setup, along with many more.
David Jones told us to not worry about how IG make money- its not important, but that was the only reason i was there - i am depositing cash with them, i want to know what risks they have. he was very evasive & only answered my qās at the interval and with vague answers - he said they had no directional bias & they dont have a 3pip slippage allowance - which i am pretty sure is wrong. i exit mainly with market orders anyway so shouldnt affect me but small slippage seems to be the cost of doing business with SBs, imo.
Cshoulders / anyone else: heres a decent article on trading order flow if anyone wants to read up on it before david kindly spends more time on being altruistic.
Interpreting Touted Order Flows: Results of a Long Observational Period | No Brainer Trades
hope david doesnt mind me posting link. it may differ to davids way of trading it, but thats trading for you, at least it gives you an idea of how it can be done.
hi mike, i disagree i am afraid - the methods used are very simple to understand & the key thing now imo (well for me anyway) is to:
1.) read as many charts as possible plotting BBZ/correction zones using past data perhaps so it becomes second nature - post some up here;
2) practice entering / exiting trades using price action - david has said what he uses for entering, again post some examples up with what PA/candlestick pattern etc was used - even if you are doing it on demo. and then if david wants to comment all the better. people who are complete newbies are going to struggle with this part of entering / exiting using PA et al.
imo posting actual trades just delays people from getting on with the hard work - practice. the occasional example here & there i guess is fine.
just my 2 cents (so please ignore if you wish).
One of my accounts is with IG, I find them great and suit the way I trade
Hi David, count me in on order flow mate. How long did you train to be a forex trader at your bank out of interest before they let you loose with a BIG bag of loot to trade ?
Just curious, at least your answer will give us some idea how long it would take for us āPlonkersā (speak for myself) to be consistently profitable using your BRILLIANT mentorship thread.:53:
I donāt know what a plonker is, but it probably applies to me as wellā¦
Hope this helps, British saying from a comedy show, means fool or idiot
Hi,
IG are the biggest and probably the most secure SB firm in the UK, so I have absolutely no doubt that they do offer a decent service if you donāt mind trading with a bookie rather than a broker or DMA. I think they are a registered stock exchange company here in the UK with a market cap in the region of Ā£1.2 billion if Iām not mistaken.
But the fact of the matter is, they are a bookie and not a broker nor supply DMA, in fact, they use prorealtime charting as their advanced charts, and from my understanding they cut-off the volume data to those charts so that their punters could not see flow data or where the money was coming in. This does not show to well on their part for doing that.
They have a dealing deskā¦ a bookie with a dealing deskā¦ makes me shudder!!, so really if your going there just be careful and watch everything that you doā¦ keep records and any emails or transaction emails both trades and statements.
As far as David Jones goesā¦ snake oil sales man I have been told, I donāt know him personally, but I know plenty of people who do, and they wouldnāt piss on him if he was on fire.
The man has never traded in his puff, as I said before, he is an analyst, and a poor one at thatā¦ hence why he works at IG a bookie.
Lets not mistake an analyst for a trader or dealer.
An analyst gets paid to talk shtā¦ literally! They are nothing more than salesman with some analysis and trying to sell you their idea. They are not doers they are gob***es. They talk a good game, will try to sell you their game plan, but yet never actually follow or trade their game plan. They just want you to sign up to their ideas, and earn their commissions.
A trader on the other hand is a doer, they make their own decisions, they plan the trades, they execute the trades with real cashā¦ traders live and die by the sword. They have balls, they donāt talk a good game, they get out there and play the game!
So personally if I was you at one of these seminars run by IG and Mr Jones, I would stand up and tell him to shut the hell up and ask him what the hell he knows, he doesnāt partake in the market, so what qualifies him to give advice to joe public in trading or placing trades! Hes a desk jocky on commissions dribbling out BS to the unexpected public earning his salary and coms.
psā¦ thats not a rant by the way 
Well as you said, I guess we have to disagree. I am by no ways a newbie and have been trading for five years. I have followed Petefaders thread ( a great one ) on vsa trading and become proficient with that. I also have a couple of eaās that consistently make money. As the learning curve never ends, I am following this thread with great interest to continue to improve. For myself anyways and perhaps some others reading this thread, placing a trade as Dave does and then following it will give a greater insight to his method. I wish you all the best in your trading. Cheers,
Mike
Hi pipsalots
12 weeks fundamentals with various tests.
7 weeks technicals and flow with various tests.
3 weeks OPTPA (Order Processing and Transaction Procedure Appliance) with tests
And then a survet test at the end of it. During the whole time I was actively trading within a junior group before gaining my own desk after the training. Some people drop out, some people donāt get put through, some people fail the tests. For ever 10 the bank takes on maybe 2-3 make it.
Cheers David
Hi David,
Loving this! The format and how itās all put together is great. Few things go over my head but I just look them up. Keep up the great work and thanks for all your time and educational/experience input to help us learn. I would love to learn would be order flow trading. Be great if you could put up a thread on how to apply the technique. Have a top weekend, Cheers Texy.
Hi Texy,
Order Flow trading is the purest form of trading as you literally are trading the bid/offers fluctuations that move the market. (ever heard of the infamous Goldman Sachs algos?)
This can be done on stocks/shares using Lever 2-3 data. The currency market from a retail punters point of view is a little skewered because there is no central exchange to offer level 2-3 data. But there are ways around this if you gather the right information and/or contacts.
I have around 30 close contacts at trading and dealing desks in Europe, London, Asia and the US who are ex colleagues or people I was put in contact with through other people. We hook up through hubs and Bloomberg T, and share data, thoughts and info. As most of these contacts are still active in the city, they supply me when asked nicely for the latest order flow details and option barriers reported and undertook from the interbank market and derivatives markets.
I can explain more, but I dont want to bore you to death!
I will think about doing something order flow related.
David
Many thanks David, I had another wonderful day full of learning, no question so far from me means Iām following absolutely nicely. God bless you & have a joyful weekend!!!