thread: Order Flow - Achieving the mindset

Is there some book or anything which explains the very basics of the inner workings of the market?
I'm reading material concerning order flow as well as the book from Daemon Goldsmith however when they begin to clarify the differnce between limit order and stop order I always get lost because noone explain them in full dept and illustrations.

I constantly struggle to fully understNd the mechanisms as evrywhere this comprehension is gven for granted.

However, for instance whi is behind the bid who behind the ask? When I make a market order to sell do I become an ask? Or I jut consume one bid?


In brief is there a book for dummies for this basic concpets that exlains them in depth but throught standard concet for the newbie?

thanks!

is there some book or anything which describes the very basics of the mechanics of the market? I am reading material about order flow and also the book from Daemon Goldsmith but when they start to explain the differnce between limit order and stop order I always get lost because noone explain them in full dept and examples. I constantly struggle to fully understNd the mechanisms as evrywhere this comprehension is gven for granted. However, for instance whi is supporting the bid who supporting the ask? While I make a market order to sell I become an ask? Or I jut...

Exchanges and Trading by Larry Harris

required reading IMO.

Regards

BCCMicro

is there any publication or anything which explains the very basics of the inner workings of the market? I am reading content about order flow as well as the publication from Daemon Goldsmith but once they start to clarify the differnce between limit order and stop order I always get lost since noone explain them in full dept and illustrations. I constantly struggle to fully understNd the mechanics as evrywhere this understanding is gven for allowed. But for instance whi is supporting the bid who supporting the ask? When I make a market order to sell I become an ask? I jut...

Darkstar's publication (Daemon Goldsmith) writes it down pretty well. If you dont know after reading it, then google online / play with MT4 a bit.
The one thing you have to be aware of is that Market orders MOVE the market. Limit orders are resting, and waiting to have stuffed.

(I have some time now so I decided to write it down...)

On the image you can see the order publication of the Crude Oil May Futures.


A stop order is something which you usually place if you wish to depart your trade. Let's say I brief at 48.55 and place my stop at 48.60.
What happens when price goes up and 48.60 starts getting lifted? My stop loss order will activate. Stop loss order = get me out of this trade. NOW! = It's going to turn into a market buy order. So because essence a stop loss order is a pending market order.

Hope this helps.

PS: Trading and Exchanges by Larry Harris Is a nice and thick novel. It's currently holding my notebook at a nice angle. You don't have to read these 500 pages, unless you're interested in the mechanics... (I found that publication kinna useless...)

subscribed finally.... Discovered the page associated oft.... But nevertheless I am looking for great indior.
If any person have please....share for me

Hello men,
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Joyful trading
Dale

Thanks ScottyB, Fantastic spreadsheet. I'm in the process of writing a program to mimic order flow (I'm a programmer for a investment bank) to look at several scenarios. Obviously it will be a simplified version but believe over time it might be something which can help see the mechanisms of order flow.

Where can I get it?

Thanks