I 100% agree with everything has said here.
IN MY OPINION / Viewpoint garnered from all my experience
Orderflow does not work -- unless you already have a good place to execute your trades from. A REALLY REALLY GOOD Place and a really really good reason to do so.
It CAN be used to fine-tune an entry in a good place to enter. << A real high probability -- real reason place to enter
2> AND SECOND AND MOST IMPORTANT >>>>
THE MOST IMPORTANT AND MOST INSANE THING THAT I FOUND OUT FROM STUDYING ALL THE
ORDER FLOW THINGS IS THAT:
Real Order Flow Traders ARE NOT ORDER FLOW TRADERS AT ALL >>> they are
MOMENTUM TRADERS!
LET ME REPEAT that incase some one didn't read that correctly >>>
They are
MOMENTUM TRADERS.
I purchased the AXIA FUTURES video course that shows one of their traders going from s small
contracts on the FGBL in London all the way up to 300
contract POSITION!
And all his talk about order flow this..... order flow that...
bid blah blah bhah ask this ask that.... When I truly truly focused on him and started to watch what he was doing >>>
He was actually really just trading momentum and momentum only!
He talks about bids.... and he talks about asks... etc... but he really really not doing much with that... he is looking at breakdowns or
breakouts and looking for a stream of contracts to keep coming in to the stream that created that trade...
That is what he is looking for....
So if you focus on some important areas....
then see if there is some kind of breakdown [ for shorts for example ] and you start hitting that area
and more and more contracts keep coming in supporting the break down -- you should be all good and see it the breakdown happen in real time -- with more and more orders come in -- until a real splash happens and the move is done..... and you exit..
then you just keep doing that... increasing your size after some time... until you get to 300 contracts per instrument.
Again -- he is momentum trader.
The videos I am talking about are available in the Jigsaw Trading Member section and they were called Trader Joe from 2 to 300.
You don't "have" to buy them -- you can see a ton of Axia Futures videos online/youtube.
And they are constantly talking bid this... bid that... It's bullshit -- they are momentum traders. 100%
They are just excellent at finding momentum and killing a trade if momentum does not come in. If momentum does not come in - They will kill the trade basically immediately...
Then if momentum does come in... they add
lots and add lots and add... Depending on how big the account is. If just starting out -- add only one more...
If you have a bigger account you add a ton more... on ever little push.
I think they seem to add more one THE PUSHES than pullbacks -- I could be wrong there. I have to go watch the videos again -- but it looks like they add on the pushes of price -- not the pullbacks.
Which sounds counter intuitive -- but they go with the flow -- not try to do anything crazy.
That is my 2cents.....Hopefully this will save you a ton of bullshit. It took me forever to figure that out because of all their other jargon and bullshit of "pulling bids here... pulling asks there.... "
The whole pulling bids and asks I think is pretty much bullshit .... what matters is the orders traded and the momentum...
When I REALLY REALLY looked at what he was doing -- he was hardly using the pulled bids and offers. That was basically useless.
