I think John Grady's e-book is a fair deal at $40. Grady is now offering webinars too. Jack Broz also offers order flow training at:I agree that this style of trading is not for everybody (myself, for example). I am still using order flow in my projects, but I am relying on automation to do the parts that I am not very good at. I have no plan at this time to buy any trainings or mentorships, as those get expensive fast and emphasize adopting the vendor's style. I figure at some point I need to start thinking for myself. Al Brooks has three new price action books.I tend to cringe when I hear the phrase 'price action', because if you ask 10 people what they mean by it, you get at least 14 definitions.
In general, if a trader is monitoring a chart (5 minute or otherwise), he is not doing what I consider to be 'reading order flow'. That's not to say there is anything wrong with trading from charts. I have used charts in the past.' Tape reading' is another phrase that's often interpreted in many ways.
I agree that this style of trading is not for everybody (myself, for example). I am still using order flow in my projects, but I am relying on automation to do the parts that I am not very good at. I have no plan at this time to buy any trainings or mentorships, as those get expensive fast and emphasize adopting the vendor's style.
Traditionally, it meant charting price moves, and had nothing to do with reading a Time & Sales display. That's unfortunate but understandable, since computers had not been invented yet. I appreciate the input, rwk.I`ve read well over 100 books on trading and extensively studied half of them.
Knowing that 80-90% of what is written on trading is mostly useless and recycled garbage from guys who don`t know how to trade, I`m usually fairly critical, especially when it comes from some online vendor where the barrier for releasing something is pretty much non-existent.The other thing is that I`m not so sure how reliable reading order flow is in a market such as S&P, considering arbitrage and program trading.I`m intimately familiar with the works of Al Brooks. I read his book twice and then re-wrote it on the third time in a language I could understand.
Learned a lot from him and myself:)SpideySense,When did you visit Oslo? I`m actually embarrassed over our capital as parts of it is dirty and full of visible drug abuse,etc.Glad you liked it though. Parts of it is truly beautifulKind regards,HighStakes. I tend to cringe when I hear the phrase 'price action', because if you ask 10 people what they mean by it, you get at least 14 definitions. In general, if a trader is monitoring a chart (5 minute or otherwise), he is not doing what I consider to be 'reading order flow'. That's not to say there is anything wrong with trading from charts.
I have used charts in the past.' Tape reading' is another phrase that's often interpreted in many ways. Traditionally, it meant charting price moves, and had nothing to do with reading a Time & Sales display.
That's unfortunate but understandable, since computers had not been invented yet. All stock indexes, and many mutual funds (Called Exchange Traded Funds (ETF)) can be traded charted and treated just like any individual stock.You can use ETFs to specialize in specific sectors of the market. For instance electronics has been really hot lately, so purchasing shares of an EFT specializing in electronics would be more than banks (which have been horrible lately). And of course the overall markets have been doing better than banks.anyway, trading indexes is a good way to start.As you learn and grow, you will be able to use what you learned. For example, I often use this approach:1. Pick the strongest market: DJIA, S&P500, AMEX, etc.
You can invest in that index by itself, or.2. From that market, pick a strong sector. For example, four of the many sectors in the S&P500 are Consumer Staples, Energy, Financials and Health Care. Let's say that you notice that Health Care is strong, then you can invest in a Health Care EFT, or.3.
Get a list of the Health Care companies listed in the S&P500, then look at those companies to find one or more candidates for an individual stock purchase.So, you can start at the top and work your way down (or not) and your questions will lead you to finding the answers that eventually become the experience to meet your goals.Notice that 1, 2 and 3 above all require that you be able to pick out the strength in many possible choices. This will lead you to learning technical and fundamental ways to guide you forward. Date: 10th October 2019.MACRO EVENTS & NEWS OF 10th October 2019.FX News TodayUS yields corrected slightly from yesterday’s highs.