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Do you have any examples you'd be willing to share on how you use order flow to trade? Just curious how you use it since a lot of other people have said it's not something they use. Thanks
Well, it depends on what you intend to trade, most Forex brokers do offer CFD for indices but it just depends on what your needs are.
Well the correlation is because of the USD leg in the pair as well as their trade correlation. So the correlations are not hard correlations, just it's a result of how the global economy is functioning.
Hmm to be honest, unless you can get a solid 4hours in, day trading may not be for you. You might want to look at something longer maybe like h4 where you can afford to just look away for 4hours at a time.
Alternatively options are pretty good if you learn to use them well. Since there is already theoretical edge.
The only real time I can trade for a few hours straight is at night during the asia sessions when the market is pretty dead. My plan was to try and watch some lower time frame charts in the morning before work and also see if I see any trades on the higher time frames and set up a limit order. That's the plan for now but we'll see what happens.
Agree, ya beat me to it I'd focus on this pair for the Asian session.
Most of the other futures currency pairs are pretty dead during Asia; a typical EUR/USD Asian session consists of about 10-20 ticks of movement. That said, it usually moves well during both London and New York sessions so opportunities are there to be had.
Ahh now I understand. I guess the ultimate goal is point 4 but using point 1 to get started I think would be good. No interest in being a vendor or anything like that. I guess point 2 is also interesting but you didn't mention consistency or profitability in that option so I didn't choose that one.
Consider yourself very lucky to not lose money in the jungle of scammers out there. Here my short list of some of them: Cyber Trading University (Fausto Pugliesse) , TradeGuider (Gavin Holmes). Stay away from Online Trading Academy just because they are SUPER expensive. Some places for you to get some free education on Order Flow. Mike Valtos Orderflow.com. Sean Kozak neurostreet.com . Chris Knox zonetraderpro.com. DO NOT BUY ANYTHING ANYWHERE UNDER MY ADVICE . I just go there from time to time to get free education. General rule if the moderator does not take live trades nor shows a broker statement , that's a huge red flag.