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CQG is better. . I would never suggest esignal. Its just indiive pricing... CQG though is somewhat latent.
No I am not talking about futures. I am discussing aggregated area book. Showing thickness and orderflow. Nobody has made it. . That's till I designed one.
66950How can see the fx order book
when the market is not centralised
im looking at euro futures orderbooks,theres more buyers then sellers,and the market still tanked 20p,on german balance 11b
theres too many things affecting the price of currency,
and we cant see the big guys orders,only retail ones,and as darkastar said retail orderbook is not accurate orderbook
as stated,u need to have somebody in large traders and hedge funds to tell u wats goin on,but sometimes u cant trust them
I would say if anyone would like to trade with complete order book,they would have to trade stocks and cover 100s of dollar on exchange prices
but I heard goldman paid 200m in fines for not reporting couple of large trades into the sec,so...
66950You don't need to observe an order book, period.
66950Monroe,
that I 100% agree. Although depth of market may help a bit for the entrance Time and Sales is whats actually needed. Without having any record of the orders been made theres no method of seeing the buying/selling side pressures that could forecast a move. I'm not a flat two trader (yet) but from what I've observed your looking at the tape to see massive bid/offers being absorbed until theres an imbalance.
The more I look at Forex the more I believe liquidity plays a far more important function. Consider it if your an Institutional/algo/hedge and you've put a massive order in your looking for transaction expenses. From the information I've seen regarding Algos trade there all made to search liquidity out.
Http://corp.bankofamerica.com/public...ets/agencyalgo
If we know where the liquidity pools are then we could track them for actions and as soon as it looks like its used fade it. Is it only me or has anybody else noticed that we see such spikes poking up/down well away from where price has been trading followed by another one?
That I am thinking about starting an order flow picture thread in which we could posts our observations but I'm afraid it's going to only get all screwed up by individuals without the exact same mindset as we have.
All the best,
James.
66950From a post of Darkstar,
Now thinking along the same lines we understand that BoE will not raise rates now. But we know that given inflation they are facing,... a rate hike is unavoidable but it could be a bit late possibly after ECB climbs first.
If over two assumptions are right i.e
1- They will not raise rates today
two - But they will have to soon
(Now what I will say is will require a lot of attempt to put words from my thoughts since I see them)
we could have a window opening now that will enable us to get on the market in anticipation of actual outcome that's inevitable. I dont know if I could call it mispricing or not cause I believe mispricing could be there for a few seconds to mins. However, this scenario could last from a minute .
Everything depends on what people anticipate. However, most probable and tradable scenario that I can envision is,
Offcourse a no rate-hike scenario wouldn't be a shock to the markets so price may fall down some 40-50, taking out Stop's and spike back up as opposed to stall for some time until another event occurs that indicate more strength to a rate hike so price would go up and make new high. Now this could be a case of mispricing that would last from a few seconds to mins and that really where a OF trader could get in in expectation of actual outcome that would finally take price back up in near future but he may have to suffer through the daily swings as market retains pricing in every probability along the way until the real encounter occurs.
Today I believed is in the bathroom without a chart so u can call it a piece of shit.
.
66950I would enjoy such a ribbon.
66950The one thing I can think of that could assist us is that the simple fact of using the flow info we can get, which informs us where bids/offers/options are or rumored to be (and who is behind them) and seeing the price action there or expect a response to that liquidity.
Seeing what nasir is saying... I think what you are talking about is longer timeframe sentiment arbitrage type of item. It has the mechanics behind everything from intraday just different levels of play, to longer term.
If sentiment always lines up with current price, you've got to get a good grasp of what will likely happen or perform out at the future with what's effecting currency right now. It of the time being discounted so you've got to get in before and have a good feeling about your analysis. Use market mechanics that we have been talking here with stops searches, etc for your entrance.
For example, there were rumors of inflation and a rate increase, that got us up over 1.40, following the rumor, it's market the reality... take profit.
Markets are forward looking.
And this is the way I'm viewing it at that point.
98038well yeah I' understand that markets are forward looking and each items it being priced in. But like DS said that market keeps on discounting all the probabilities. What I' have came up here is that while the market is on its way to pricing in an event there are occasions that would take market off its course for some time like Eu on its way up to discount the rate but a few evaluation downgrades took it off its course.
Now that may be an opportunity to make some profit in expectation on that particular event and that is my point.
So far as entring that the transaction is concerned,.... When l'd have the ability to get my opinion thingie hell I' could enter long on an MA crossover dont' desire an order book for that.
66950Thanks for the visual but nice post!
66950yea... it def. Could be an opportunity, I get what you're saying.
Throw key MA's or BB's on a daily and 4hr... are you really gon na move against it? not me.... Not unless I really have a good reason. I simply wait for the extremes.... Attempt to get a good handle on whats happening, and do my intraday thing. However, I keep it as simple as possible and do try.
What I obtained from Darkstar and other honored OrderFlow traders about here would be to think behind it, find out the market I am dealing in, understand about how/why price moves, the mechanics behind the trades. After that, it is trust my gut and commerce.
Calmness...
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