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

H

Howard

Hi all,

I'm curious if anyone have experience with this course and also comments on if this type of analysis is useful for a market such as the ES?

http://www.nobsdaytrading.com/

I, myself, have avoided 'tape reading' on ES since I'm skeptical of it's value in this day and age. For the same reason I'm skeptical towards inferring to much information from volume readings.

This relates particularly to index futures which correlates with the underlying index and is routinely arbitraged and spreaded against other markets. Not to mention it's main purpose which is to serve as a hedging vehicle for the underlying index.

All this makes me cautious if the resting bids and offers can provide any insights about both what's actually going on at any given moment and what's going to happen in the future (next 5 seconds or next hour).

I have my own system which I rely on, but don't know much about order flow and consider it an area I should probably study up on. I just remain skeptical of it's actual value.

From what I'm reading it seems like most people are very happy about the course material and the guy seems like a great guy. No claims of a holy grail or anything and it seems very honest. The price ain't that bad either.

Thanks in advance for any comments. Let's keep it civil.

Howard
 
I have over 20 years of tape reading experience.

The course is not worthless.. It will help you with reading the DOM for the ZB ZN ZF.

It comes with a small pdf explaining some concepts and is mainly for scalping. If you purchase both courses you will get 6-7 video examples which are stated to be live trades?

Pertaining to reading the DOM for the ES.... This is a detailed subject... My ability to tape read comes from thousands of hours of observation. There is no course that could ever teach those nuances.

Resting bids and offers are "pulled, stacked, swiped and spoofed". While trading I am aware of the depth of market but not overly concerned.

It is a matter of watching what is trading on the inside bid/ask... How much, how fast, any pauses or acceleration..

Greg
 
Order-flow.

This is what is being sold to the public as the next best thing... Remember, everything is lagging the Last Price.

Price bars will move down on positive delta and up on negative delta.

A small lot will trade at the bottom and the (gurus) are more than willing to tell you where you should have entered:)

Problem... It's all many bars after the fact..

Oh, I see a small print, price bounces up a few ticks, and then it gets hit with a 300 lot..... Vice versa... More Hindsight..

Greg
 
greg500 said:
Pertaining to reading the DOM for the ES.... This is a detailed subject... My ability to tape read comes from thousands of hours of observation. There is no course that could ever teach those nuances.

Resting bids and offers are "pulled, stacked, swiped and spoofed". While trading I am aware of the depth of market but not overly concerned.

It is a matter of watching what is trading on the inside bid/ask... How much, how fast, any pauses or acceleration..

Greg
More...


I agree, 100% ! :):thumbsup:
 
Hi CALLumbus,

An illustration of chart order-flow and how the software vendors try to make it look all so good!
 

Attachments

  • greg500 order flow 1.jpg
    greg500 order flow 1.jpg
    185.7 KB · Views: 1,243
I took his webinar - my understanding is, those who know how to really read the tape can still make money in today's markets applying it. Be it ZN/ZB or ES .

He does cover some of the ES trades. He's quite a knowledgeable guy . You can PM me for more details .

Hope that helps .
 
Howard said:
volume
More...
volume is not order flow....volume is fact and a done deal....i too do not take notice of anyone who speaks any other language than English...because i do not understand it.
it took me a long time and lot of live trading to understand exactly what volume or price or momentum is saying.

volume is effort and price is result...if there is effort and not enough result...then something different is happening.

but it is easy to get confused if you do not understand well...just like knowing a little foreign language can get you confused...but this does not mean that rubbish is being spoken
 
Last edited:
MarketProfile38 said:
I took his webinar - my understanding is, those who know how to really read the tape can still make money in today's markets applying it. Be it ZN/ZB or ES .

He does cover some of the ES trades. He's quite a knowledgeable guy . You can PM me for more details .

Hope that helps .
More...

So you going to resell the webinar and you selling some other tools in classifieds? And you authorized by original authors to resell?
 
traider said:
Is that a downloadable plugin for ninjatrader?
More...

Hello traider

Yes, Acme Rancho Deniro Chart Package

Volume Impression with Delta Bars

I’ve been taking scalp trades for impulse moves from this type of chart.

8 range was just an example.. Renko bars do a better job of framing the action..

I think NT8 will have order-flow available soon.. May have to have a paid platform?

Greg
 
You must log in or register to reply here.
Back
Top