Achieving the order flow breakthroughs.
Posted on February 3, 2011 on Forex Factory
Quote:Originally Posted by DeevzI hear you. Acting on that kind of interpretations makes for good traders, and it also, as you say, makes trading an art. Example of a trade based on a particular event:Some week, there had been a lot of particular news that should have made a pair go in one direction. I can’t remember which pair but I know the news were very bearish. Yet, the price kept moving in a tight range, and did so for a few days still. My decision was to long the pair, since someone must have been setting up a big position to the upside and a reversal was in order. It…
Yes what you guys talk about are information that doesn’t appear on the chart. Since it does not appear on the chart or an indicator it can be difficult to quantify and perceive by 99.9% of other traders. If you cannot see it on an indicator the only initial way to begin to realize it is by that little voice in your head, that certain feel of the market. That feel of the market where you know price is going to break out in a certain direction, even though the rest of the market is currently oblivious to it. That feel of the market where you know the charts may be lying to you, because the real move is about to happen in the other direction, while the market is loaded up in the wrong direction. That voice/feel that can tell you if the market stands a good chance of blowing through a certain level or not.
Now in the beginning it can be hit or miss as you may initially think you can do it every second of every day. But eventually when you get good at it, you can become consistent at it, and begin to very very slowly systematize a portion of it, so you can identify such trades, such inefficiencies faster, and with greater frequency.
When you have seen one of those trades, it can light a bulb in your head to search in that direction. Some people forget about it and never search further, don’t make that mistake.
When you have actually placed the first live profitable trade with it, your interest grows further.
When you have actually placed a highly leveraged profitable trade, your interest skyrockets. Hopefully this is the point of no return as you realize that what you are doing is the very foundation of the markets and what makes price move.
When you have placed those types of trades consistently for months and months, eventually the process gets ingrained in your subconscious, and it will change your mindset and trading forever.
Eventually you discover that it took you a lot of searching through all the garbage and working out your inner demons to finally get to that point.
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