Originally posted at forexfactory on March 9, 2011:
No, you are not dumb. Anyone can be an order flow trader starting from scratch. As for where to look, that is what I have been trying to do with my posts. I have tried to help people develop the mindset and to find the different types of order flow trades.
I learned from Darkstar’s posts. So you guys should review them again, they truly are the best. Chances are people missed many nuggets of value, but you cannot interpret some of them until you have progressed in the order flow mind by a little bit.
In the beginning it was very confusing for me. Information overload was what I was suffering on a daily basis for like a few months. But it was a good type of information overload. Although you do not realize it until much later.
Yes it is hard in the beginning, just like anything else is. I had spent around 2 years failing in forex before I discovered order flow. I suppose I could of quit, after all 2 years and countless hours spent with nothing to show for it is pretty harsh. But you need to pick yourself up and get back into the game.
I then spent around 10-12 hours per day consistently for around 6-8 months before I saw any results. Of course you need to spent time and work hard on the right things, on the smart things. So that was a further time commitment of 2,000 – 3,000 more hours. That it obviously on top of the previous 2 years spent. If I quit after those 2 years, or before I completed those extra 3,000 hours then I may have failed. Some people can learn faster, other people it takes longer. But if you really want it badly enough you will find a way.
I am not saying it to toot my own horn. There are other traders going through the same process and I just want to help them along and know that they were not alone in going through the process. Becoming an order flow trader can feel very lonely at times as very few other people can understand your mindset or truly understand what you see about the market. Your friends and family may think your crazy for falling for the whole ‘become a trader thing’. You may also talk to some of your trader friends and they tell you about this trade they had, where the moving averages lined up, or they are trading this killer forex robot, etc. You may question yourself as it just doesn’t line up with the order flow stuff you are doing. You may question yourself because sometimes there is this nagging little question about, why isn’t everyone else doing this? Am I the only one who can truly do this order flow stuff? You may think that because you are the only one that understands the stuff that you are wrong. So you have those emotions and psychological problems to fight as well. Only after you become an order flow trader do you realize that, yes they are truly a special breed of traders, each unique in their own way, and yes, very few people understand their mindset and what they know. That is just the way it is and how it will always be no matter how much I try in this forum.
As for the information being some guys opinion. Yes it is always reported to you by someone. It could be an analysts, a reporter, someone at forexlive, etc. They can each have their own view of the information. It is up to you to figure out what is important and how to use it in trading. Everyone interprets things differently. The only thing that matters is that your opinion, and your trades match the order flow that will be generated. Each individual trader is the only person that can do that.
I think you are too paranoid about information sources being controlled and manipulated. There are credible news sources out there. But they cannot make you a good trader. You need to interpret things correctly and know how to use the information. Only you can do that.
Let them try to put out false information, or rumors, LOL. Once you’ve been at this game for a long time you can pretty much know fairly quickly was is true and what is not. Or you figure out ways to confirm the information that you are getting. You can’t be 100% accurate, but you can do very well for yourself.
If they try to put out false information, your order flow ‘sensors’ within your own mind and body will tend to pick it up (I know it sounds weird). Then you can run that false information through your order flow mindset and play out different scenarios about what is the best way to proceed. About whether to fade the information, whether to wait a little bit, whether to stay out, whether to just take the day off, whether to just ignore the information and go back the things that really matter.
It doesn’t matter if those news sources went away tomorrow. Others will sprout up. As long as you have achieved the order flow mindset, and placed many profitable trades. you already you know what to look for. No one can take that away from you. You just may need to find other sources of information to help you. If you want it badly enough you will find another way. It may even be easier.
Order Flow trades and success are replicable indefinitely into the future.
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