NO BS Day Trading (order flow course) - Worthwhile or worthless?

That's a very generous and interesting reply, Sprout. Thank you.

I wouldn't mind seeing a screenshot of your screens if that's something you'd care to share, although you described it so precisely that it's really not necessary.

I am considering investing in Jigsaw myself. Since I have NT as my main platform, I can probably just go for the plug-in. Alternatively, I'll get a dedicated computer like you did and run Jigsaw on that one.

I assume you trade the ES? Why a 2-minute ES? Are you using it as leading indicator or to get confirmation on your ES trades?

I'm still a bit on the fence on that one myself, but I need to give it more study. My impression is that the YM and even NQ can give useful clues and hints, but at other times, not so much. So maybe it's not good to be using something that's not consistently reliable and just focus on ES alone.
 
Howard said:
That's a very generous and interesting reply, Sprout. Thank you.

I wouldn't mind seeing a screenshot of your screens if that's something you'd care to share, although you described it so precisely that it's really not necessary.

I am considering investing in Jigsaw myself. Since I have NT as my main platform, I can probably just go for the plug-in. Alternatively, I'll get a dedicated computer like you did and run Jigsaw on that one.

I assume you trade the ES? Why a 2-minute ES? Are you using it as leading indicator or to get confirmation on your ES trades?

I'm still a bit on the fence on that one myself, but I need to give it more study. My impression is that the YM and even NQ can give useful clues and hints, but at other times, not so much. So maybe it's not good to be using something that's not consistently reliable and just focus on ES alone.
More...

Yvw.

Yes, my focus is trading the ES. At times of change the 2m YM leads the 5m ES. One would have to know the Ten Cases of Price and the Operating Order of Events to 'see' this. Otherwise, not really perceptible till after the fact. Anyone whom claims this is not true is accurate but only for themselves and the level of market differentiation that they have achieved.

It's viewed during 'sweeping' from coarse to fine detail as the focus is on the developing HRE as all possible futures crystalizes into one present outcome.

Just as a squirrel climbs a tree, all possible end branches exist. As the squirrel makes choices of which branch to climb the possible ending branches become more limited until there is only one that it is. Same with price and volume relationship, it goes through many permutations, each limiting what comes next until there is only one price case that it can be.

Since it's my belief that the futures market function is to hedge the cash market, I'm using the YM as a proxy for smart money positioning itself. My interpretation is that smart money uses market orders primarily and that big money uses limit order primarily. It ebbs and flows as a primary indicator, it just has it's place and is consulted during 'sweeps'.
 
This is what a prop traders setup looks like...

Axia.jpg


Not my desk - but I was visiting and took the weight off.

Nothing but DOMs in front of his nose. Bloomberg & a few long term charts....

This is how the larger prop traders make their money.
 
I'm wondering if there are any alternatives to Jigsaw's DOM solution? Since I already have a full NT8 license and pay for market data (IQ Feed), I'm not sure I'm interested in paying close to $600 to just get an improved DOM that I might not even find useful in the end.

I have a hunch I'd be able to visualize the same information using volume charts, tick charts and the NT DOM. Possibly some market profile.

Sierra Charts have a very customizable DOM and their software costs around $25 dollars per month, so if anything, I might go for that option instead.

As for the course, I finished the book and am slowly going through the videos. Will give a comment when I have finished.
 
That's right Howard. There isn't any damn thing those add on vendors did and SC couldn't do and does it even more for a damn cheap $25 a month. Now if you know how to program C++ then it's even sweeter. The whole market depth scene will open even wider.
 
traderslair said:
This must have been the most easy question ever.

Just ask his broker statements for the last 10 years, analyze it and then decide if you want to spend money following him or not.

You won't see it.

Why? Because people who make money don't teach. End of story.
More...

Hey Tradeslair:

Nowadays, when you have any doubt, about a trader or those claiming to be
live and real money traders;

DO NOT WASTE YOUR TIME READING WHATEVER THEY SENT YOU !

JUST ASK TO WATCH THEM TRADE LIVE FOR REAL MONEY,
AND IN REAL TIME.... ON THEIR LIVE SCREENs....

THAT WOULD SETTLE TONS OF NAGGING QUESTIONS....

DON'T YOU THINK?

With all due respect for legitimate traders and vendors
making honest efforts.... toward trading profitably and
consistently....
 
padutrader said:
the fact is trading short term has always been near impossible because the big boys can do anything with the market intra day and that will be just described as just random movements which by the way just wiped out a few silly over leveraged weak traders.
More...
Hello There:

With all due respect with all your
posts so far, many are very informative
and I thank you for those;

but your statement such as this....

.... the fact is trading short term has always been
near impossible because the big boys can do anything
with the market intra day ....

left me wondering, if you trade live for a living....?

Do you really think so personally and believe what you said above?

Are you really speaking from experiences in trading live?

Do you really trade live with real money of your own nowadays?

I am asking with all due respect K?

FOR THOSE TRADING REAL MONEY, THEY DO HARDLY CARE

WHO OR

HOW BIG OR

HOW FAST OR

HOW SMART....

EACH ENTITY IS.... IN THE MARKETS....

These traders just trade on their own setups,
executing just what their setups show them,

THE MORE MOVEMENT.... THE BETTER....

UP OR DOWN....

DOES NOT MATTER ONE IOTA....

These traders just trade following
what moves.... up or down.... no matter!

I do not wish to appear to be means or
derogatory with all the comrades here,
but we trade whenever the market moves....
who moves it, really does not matter one bit.... really!

Happy trading padutrader
and everyone else too,
particularly all my comrades
since past six or seven years....

Hope everyone of you is doing well....!
 
You must log in or register to reply here.
Back
Top