Posted by Mike on Oct 13, 2015 in Blog
One of the problems traders face is how to handle slow trading days. One of the main causes of slow trading days, or rather slow market moving days, can be due to a holiday. In the old days of open outcry the exchange would be closed, but now that everything is traded electronically it is easy for the exchange to keep the servers running. Besides that, everything is “global” now. So a market moving event can occur in another country that is not observing a holiday. Most...
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Posted by Mike on Oct 9, 2015 in Blog
This is a question I am often asked by potential users. I have users that are brand new to order flow and users that have switched from other software such as Market Delta, Rancho Dinero, Fin-Alg, etc. I think what separates Orderflows from many of the other software out there is that I don’t just sell software and that is it. I also show you how to trade with order flow. I write about my trades on my blog, orderflows.com. I have written a 150 page book on trading order...
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Posted by Mike on Oct 8, 2015 in Blog
One of the benefits of using order flow in making trading decisions is that you can see real-time market generated supply and demand levels. With the advances in technology in the last 30 years traders have changed the way they look at the market. Traders have become indicator junkies to the point that they don’t know how to trade without indicators. Don’t get me wrong, computers are a great help to traders and without which it would be a lot more difficult for a retail...
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Posted by Mike on Oct 7, 2015 in Blog
If I had to define my style of trading I would have to call it intraday trading. I hold positions anywhere from a few seconds to an hour. If a trade is not going my way after an hour or hasn’t reached my profit target after an hour I am willing to get out with a small loss or profit and move on rather than be married to the trade. I often get emails from people selling systems to make 2 ticks a day and with 2 ticks a day you will achieve financial freedom. Really? Financial...
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Posted by Mike on Oct 6, 2015 in Blog
The Smack Down Trade There comes a time when the market is just sort of drifting around for an hour or so and looks like it can’t make up its mind. When you are a day trader that is probably the most frustrating type of market to trade because the market doesn’t want to go higher or lower, it just sits in a range. Grrrrrr. Here is a trade I call the “Smack Down Trade.” It occurs when the market tries to go higher and when it does a seller comes in and...
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Posted by Mike on Oct 5, 2015 in Blog
The 1 Tick Trade Setup With Order Flow I love to talk to successful traders and hear what methods they use successfully. One of the most influential books in my trading life was Market Wizards by Jack Schwager. What I found most interesting is there you have 20 extremely successful traders and they each have their own way of trading. Add in Jack Schwager’s second book, The New Market Wizards, and you have another 20 or so traders all doing something different, yet very...
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