If you go to their site, there is a PDF of their manual that explains it, it’s publicly available.
It’s an interesting read, and an interesting concept, which is why I am very curious to see it perform live.
I am not interested in any EA’s or indi’s, but I would like to plot bids and offers on the chart.
I am not including a link for obvious reasons… it’s easy enough to find.
Charles
On the old forum I was posting detailed charts of this, we established a bias change on the EUR/USD way back on the 4th July, then established the the bears where in full control later on… we anticipated the move, which continued to fall… here was the bias shift: View image: e2
EUR/USD crossed the 100 sma, but the more important factor was it remained below. Price eventually then moved past the 200 sma, and again more importantly remained below. View image: toeu
The trend then picked up momentum: View image: 12345
This is just an example on what to look for, remember, the most important part is the price action that takes place after the cross or after the test/hold. Also take a lot of notice of support/resistance and PA thats on the left of the chart.
Once you can read that, then the other parts follow… ie: BBZones, correction zones, fibs ect ect ect
ah interesting charles, i didnt realise IFR were offering trials.
MNI imo is just too much info on the bullet points - you can filter it but its still a chore. also theior website is terrible, only bonus is v competitive price.
i have not looked at orderbookfx. i currently use talking forex - its free, and squawk is ok. it would be good if you can update re your trials on some of them.
Will do, re: the updates.
I agree with you on MNI, very time consuming, but I attribute it to the fact that I really am not proficient at picking out the gems at a glance, that only comes with time, which unfortunately you do not get with trials…
I like IFR so far, not sure the cost once the trial is up but I’ve heard in the range of $300/month
Orderbookfx does not show prices on the site either, at least I can’t find them.
How accurate are the order flows and options data on these services, do they coincide with some of what David has been quoting us?
Hello David, I just came across your Threads, and I would like to say, that I am now going to be following you like your shadow, thanks for all the insights!
theres nowhere near as many on talking forex as on mni or what david gets, and they only cover the main majors and a couple of crosses - NZD/USD wasnt covered at all, but i found mni was just too many esp order flows.
this is fridays option expiries TF provided at 7am gmt:
EUR/USD - 1.2225, 1.2250/60, 1.2300 - 500mln
USD/JPY - 78.70
GBP/USD - 1.5650
AUD/USD - 1.0370
not sure how this correlates with davids - i hope it rec’s! this thread is too long now to navigate back through to find what david has posted, but will make sure i check from now on when they come out.
I missed the pdf file, read it now and it is indeed interesting. I look forward to your update on how it works.
Orderbookfx has the prices on the front page if you scroll down a bit
Talking-Forex re-post IFR markets info and other sources they have agreements with. Talking-Forex are not analysts or traders, nor do they do their own analysis or information finding… basically they have the other newswires/sources and sites such as IFR and then inform you once the main sources post. So its just re-regurgitated info.
IFR is around £360 pm.
OK now it is much clearer for me. The focus should be on the MA100-200. Is it safe to say that a good trade location, and where Pro Money enters would always be at, or very close (say 30 pips or so…) to the MA lines?
A very large % of the time yes.
As you can see, my research is VERY thorough!
…
Thanks.
i know its too early to plot where pro buyers are, its just practice.
here’s my attempt at AUDUSD zone on H1, confluence with a daily f23 (1st june low), h1 (12th jul low), 200sma, and some D1/H4 levels i have manually entered. the level i wld normally look at is around the f38 10310 area (not because its f38 though), but it doesn’t have much confluence.
not sure whether its a correction zone or bullbear zone though?!
Dave,
Do you have an opinion or any knowledge of OrderBookFX?
Thanks
Charles
Hello everyone,
just want to tell that if someone pretend to follow just “David post’s” we can do a simple thing…
Left click on “David Jefferson” name on top of any post from him…
Then will open a option box and there we can choose to see all David’s post on this thread
OR
We can choose to see David’s profile and a new window will open where we can accesses to a lot of options
One of them will be “Find latest posts” click there and a new window will open showing all David’s post on Babypips.
To see the post you choose just click on the post and you will be directly driven to the page where David Wrote.
Yes, complete and utter nonsense.
I had a quick look at the site, one quote stands out: [I]Our subscribers see the [B]current global limit orders above and below the current market prices in real-time.[/B] [/I]
This can only be obtained if they had access to the wholesale market (intermarket) which they don’t. They are not a registered financial BAOIS so they have absolutely no access to the main intermarket which only large corporates/banks/funds ect ect access.
My guess is their software is rigged up to a few retail broker accounts, and their pumping out the flows from that, which is completely useless and means nothing.
ps: There software will not show pro money…ie banks ect ect… just retailers.
Thats more of a correction zone, but your problems there are the 100-200, one price will over under the 100 indicating a “potential bias momentum shift” then there is the 200 which your zone falls under deep down. Thats not a bad thing as that would show the bears in full control if they took it under and sustained under. But my zone support would be a little higher.
Again this is all here-say as the market has just opened and fresh flow, data and price action has a lot to play from now till morning.
I read the pdf that is supposed to explain how it works, as far as I could gather, what they do is use currenex and similar second tier sources to feed their algorithms that they use to figure out what the currenex flow must stem from in the real interbank order flow.
I fully understand your skepticism but maybe, just maybe, they’re actually smarter than it might seem. Or they’re just full of … as is sadly so often the case.
yes good points & fairly obvious when you post them just not when i was doing the chart, the f23/38 have confluence with the 100, which makes sense for a correction zone. i made the mistake of looking for too many areas of confluence. and i do have a H4 level in @ 10320 so around there for added technicals confluence.
Here is the part of the PDf that discusses that aspect. So you don’t have to go looking for it.
Does it make sense?
OrderBookFX’s Market Maker Sentiment
When we speak of supply and demand we are talking about the sellers and buyers in a given currency
pair. Market Makers are both sellers and buyers and their pricing is based upon a number of factors
including customer order flow and the pricing they are able to obtain through other trading venues.
Currenex, HotspotFXi, Integral, FXAll and LavaFX are institutional trading venues. Each with their
own limit order book. Their prices will correlate most of the time and randomly will throw off arbitrage
opportunities between them. (See Rockshore Partners for latency arbitrage, triangular arbitrage and
market making solutions.)
There are three networks that we have purposefully not mentioned here and those are EBS and Reuters
and Bloomberg. With EURUSD, EBS captures 60% of bank transactional volume each day. That’s
significant two in aspects. When looking to possibly aggregate data from EBS into our distribution, we
knew that it would provide fair volume interpretation as we have done already. But economically we
would not be able to provide the same price structure for our subscribers.
*** Our plans do include integration of EBS as an add-on product.
It’s a well known fact that EBS, Reuters and Bloomberg are the large networks. And if you don’t
already trade on them you’re looking to in the future. With EBS specifically - we know 25% of global
volume is traded daily there and that the rest of the networks: Currenex, HotspotFXi etc. trade around
these prices. This itself is critical information when you relate it to the objective of the market makers.
At this point, by not including EBS we have in theory included its actions and provided a clear picture
of actual trade flow within it.
How?
A rather simple price discovery mechanism by use of sentiment
is what’s warranted here. The smaller networks trade around the actions on EBS, a clear statement of
fact and crucial to effective price discovery. After the smart money sells on EBS they also provide
liquidity into the smaller networks with bids, capturing the difference and the masses selling to follow
suit thus creating a passive yet rather quick arbitrage opportunity. Remember that the market makers
purpose is to provide liquidity and they do this not only to their customers but to networks as well.
So, if a pair is being sold on EBS, on OrderBookFX it is identified as a market makers Bid. Remember
a market makers objective is to make quick profits and they do this between two networks just as much
as customer order flow. Therefore, the magic in OrderBookFX is that by visually seeing significant
Bids by market makers, they are the result of selling pressure on the larger networks. This is a huge
advantage to the trader who does not have access to prices or execution on EBS because with
OrderBookFX you can follow suit and join the movement.
