Anyone use order flow analysis software?

T

TSLexi

Anyone here use order flow analysis software? Me and my business partner are thinking of investing in a software package like OrderFlowDashPro or MarketDelta Pro. Anything you'd recommend?

Why do people trade with time charts and indicators, when order flow is the only way you can figure out market sentiment in real time? It's like trying to drive using only the rear-view mirror.
 
TSLexi said:
Anyone here use order flow analysis software? Me and my business partner are thinking of investing in a software package like OrderFlowDashPro or MarketDelta Pro. Anything you'd recommend?

Why do people trade with time charts and indicators, when order flow is the only way you can figure out market sentiment in real time? It's like trying to drive using only the rear-view mirror.
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my sentiments exactly--- same reason the amish still ride in buggies----most of these so called "day traders" are living in 1997
 
TSLexi said:
Anyone here use order flow analysis software? Me and my business partner are thinking of investing in a software package like OrderFlowDashPro or MarketDelta Pro. Anything you'd recommend?

Why do people trade with time charts and indicators, when order flow is the only way you can figure out market sentiment in real time? It's like trying to drive using only the rear-view mirror.
More...
Interesting thread as I've just looked into all of this extensively this week.
Many prop firms use this approach, MD ord flow Mprofile etc. I think it requires you first have some charting/trading knowledge to put it all together but if I was to start all over again this would be the way I would go. Never to late I guess, in saying that I have not purchased anything yet as my current method does give good yields if the trader adheres to the golden rules. If not then no method/ package will outright work every time.
 
marketsurfer said:
my sentiments exactly--- same reason the amish still ride in buggies----most of these so called "day traders" are living in 1997
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Any ideas why people still use charts and indicators?

Yeah, me and my business partner plan to trade CL, and we plan to only trade based on order flow. We're aiming for a 2:1 reward:risk ratio. How would you suggest we set our range bars? 10 ticks/bar?
 
I used X-Trader linked to Excel with RTD functions to process the order flow.
IMO, You could use any platform with an API linked to C++ to process it.

The problem is that the market has two dimensions.
I've seen markets declining while the order flow was bullish.
Because the liquidity, limit orders, were inversely and asymmetrically biased.

So I was trying to take that into consideration.
Market Orders as well as Limit Orders analysis.
 
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K-Pia said:
I used X-Trader linked to Excel with RTD functions to process the orderflow.
IMO, You could use any platform with an API linked to C++ to process it.
More...

Do you have any information on MarketDelta or OrderFlowDashPro? We're not very good at programming, and we'd rather buy software than develop it in house
 
TSLexi said:
Do you have any information on MarketDelta or OrderFlowDashPro? We're not very good at programming, and we'd rather buy software than develop it in house
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I have no information about any of them.
Sorry. You may be able to test them ?
 
TSLexi said:
We are, but we were hoping one of you would have some advice for us.

We also need to buy a computer specifically for the company, as I currently don't own a laptop or desktop, and we can't use my wife's.

We're thinking of going with the third one on this list:

http://eztradingcomputers.net/desktop-trading-computers/
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Likely overkill for point and click trading. Get from computerlx.com same stuff but much cheaper.

And btw, in my opinion you're coming off pretty darn arrogant. You or your biz partner (lol) obviously don't know much or you wouldn't be posting newb questions but you knock others way of trading. Good luck to you but I have a feeling Mr market is gonna have some fun with the two of you.
 
No offense but this thread must be a joke. In your other thread you just started you claim how lagging indicators are so useless, and yet here, you say you plan to trade CL (meaning you don't even trade), you ask about how to set your range bars (meaning you haven't even tried anything for yourself yet), you say you don't even have a computer yet, you put down people using charts (hence why ask about range bars to begin with), and you have no experience with anything.

My god, seriously, this must be a joke. You sound so sure about the benefits of order flow, so much so that you feel you can bad mouth charts and indicators, and yet everything else you say makes you sound like a total amateur.

I don't mean to be rude, but there are some major issues with your thought process.
 
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