[REQ] Educated OrderFlow Tools

[Bill Bundle]

Here are two methods of downloading replay data for an entire stock watch list.

 

http://www.4shared.com/zip/onQw67y3ce/market_replay_data_downloader.html

http://www.4shared.com/zip/LFtOQzDtba/MarketReplay_Ad-On.html

Is there some way of recording historical data without having to stay logged on or have I missed something.

.

Also, here are some videos about Order Flow trading.

http://www.youtube.com/results?search_query=order+flow+analytics+channel

.

http://www.youtube.com/watch?v=OuAbMKrZ9Tk

Edited April 30, 2014 by Bill Bundle

[DimiK]

Is there some way of recording historical data without having to stay logged on or have I missed something.

Hi, I know there is a way with the GOMI Tools, there is a GOMI Recorder indi you add to the chart which saves all the data like you are describing.

You might just want to use the GOMI ladder instead of the NOFT for this reason. Practically does the same job.

[exp48967]

Any manual or more vids?

[dennyyusuf]

Any manual or more vids?

Yup..need manual or videos tutorial..without education this indi would be useless..

Thank you..

[Bill Bundle]

GOMI is a great indicator, but it is limited to only one data source. I have a data source that I like and I have no desire to change just for GOMI. NOFT will handle any data source that NT7 can link.

Hi, I know there is a way with the GOMI Tools, there is a GOMI Recorder indi you add to the chart which saves all the data like you are describing.

You might just want to use the GOMI ladder instead of the NOFT for this reason. Practically does the same job.

Here's a useful video on Order Flow scalping.

.

Edited May 2, 2014 by Bill Bundle

[Noam]

does anyone have the "on-demand" video library? im sure it could be very useful for everyone

[traderx4]

Anyone have the latest version of this suite with the Iblock and the Supply Demand Indi's?

[forexmaniac84]

The new version has more improvements.It can plot the unfinished auction, block trade and all the nice features together.The version posted here can only plot one thing at a time.

Also the on demand videos are much appreciated guys

[user33]

Yup..need manual or videos tutorial..without education this indi would be useless..

Thank you..

 

Hi dennyyusuf,

 

This is not an indicator, it is a charting type called Footprint chart, invented by MarketDelta in 2003. GOMI was the first person to code the footprint chart type for Njinjatrader, all the commercial packages of the rip-off footprint chart type, like OFA, NOFT, and many many others, copied GOMI's work and made improvements then sell the package for thousands of dollars. None of the commercial package has any significant improvement to GOMI's work.

 

I feel sorry for people who paid thousands for those packages, they could had just spent $100 for GOMI's package and not missing anything from the commercial packages that cost thousands of dollars. Members of this board are lucky because we get those commercial packaged here for "free".

 

That said, footprint chart is just a charting type, it is not a system, it is not an indicator, one must learn to understand how market works, how trading works, and how AUCTION works, in order to use the foortprint chart effectively in trading, otherwise, footprint chart has absolutely no use to them.

 

Most "trading education" vendors who sell the course on order flow trading using footprint chart type are liars and their course have ZERO value, they make claims and they sell the courses for thousands of dollars to lazy, greedy people who don't want to put in time and efforts to learn how to trade. OFA is one of the worst! They sell the OFA package (before it was a package for NT) for $5000 to $7500 (pro version), and sell the education package for over $3000 on top of the software, they are not traders, they don't know how to trade, and so people who spent money on their software and courses not only waste thousands of dollars on the purchase of the lies, but also being miss-led to the wrong path, the path that they will consistently lose money trading following the "advice" from liars who don't know how to trade.

 

The valid information of footprint trading is almost non existent, there are a lot of free information about footprint charting, patterns and setups, on marketdelta.com, but, they are from the software developer, not real, profitable trader, so, they are BAD ADVICE! why? because they are just ideas and believes of the writer, who thinks/believes his ideas are correct, but it is not true, he is not a trader, he has not been able to trade profitably using his own ideas!

 

That leaves us with only one valid and legitimate source of education for order flow trading using footprint chart: Anthony Drager, he is a trader, a prop trader who is now trading his own money, he is teaching order flow trading using footprint chart in marketdelta.com via a real time chat room, for $99 a month. But, the even better news is: you don't need to pay him for the chat room service, you can learn from his FREE webinars on youtube! Just google it and watch his free webinars, you will learn everything you need to know about order flow trading using the footprint charting, after that, you can decide if you need to join his real time chat room service, which I think is good for beginners, not for seasoned order flow traders, you may want to try out one month which they offer first week or two as free trial, so you don't even need to send any money if you don't like his service.

Edited November 8, 2014 by user33

[mastertrader7]

Thanks for you input user33.

Would love to see you start a thread of your own discussing the

footprint stuff.

It would help a lot if you'll make some screenshots with explanations

or videos even better.

[user33]

.......... Edited November 8, 2014 by user33

[user33]

.......... Edited November 8, 2014 by user33

[⭐ flipper26]

Interesting that you mention Anthony Drager. He has moved around in this industry too and is now with market delta using footprint charts. Back in 2010 he had his own room ANT Trading Inc, and was using a different method. I did some free days in that room. I lost track of him after ANT disappeared. He popped up with another vendor (can't remember the name) and now he is with marketdelta. I've seen some of his free webinars and have learned something from them but I am always sceptical of these guys that move from site to site.

[user33]

Interesting that you mention Anthony Drager. He has moved around in this industry too and is now with market delta using footprint charts. Back in 2010 he had his own room ANT Trading Inc, and was using a different method. I did some free days in that room. I lost track of him after ANT disappeared. He popped up with another vendor (can't remember the name) and now he is with marketdelta. I've seen some of his free webinars and have learned something from them but I am always sceptical of these guys that move from site to site.

 

His knowledge of footprint charting and order flow trading is VALID, I can verify that. His teaching style is very down to earth and detailed, he is a real trader, not another those liars.

[Traderbeauty]

USER33

Thank you so much.

I value your post and info.

I tried to use order flow analysis or footprint chart many times ( ES only ), either using market delta or gomi, ofa etc.

I could not see definitive signals no matter how hard i tried.

Let me elaborate a little more-

My method does not use indicators ( or lets say uses only very minimal few). Using price or leg analysis I KNOW where the market "SHOULD" turn and if i get a signal ( using either indicators or just price- like navi bars signals) - i enter the market using renko spectrum to trail.

Since nothing is perfect in trading I always love to find some more reassurance from any other tool that i can get my hands on.

(For example- as amazing as it sounds- the j-signal - 7 is a very good tool to give the market direction .)

Obviously VOLUME is one of the leading indications for price movements.

But no matter how hard i tried i could not get any signal in real time that i could interpret as a long or short.

Truth- you could always go back and see these signals but not in real time.

I tried to listen to webinars and seminars from all over but exactly as you said- they are vague , no clear and i could not find specific rules for entry.

Following your excellent post I am going to follow your advice and not give up, follow that guy and try to implement the info.

I believe that it would be wonderful and helpful if you start a new thread - not to tutor or feed others but a place for everyone to share their experience and knowledge about the METHOD not about the indicators.

Thanks again and please continue to post- I am sure that many are thankful.

Traderbeauty-Jane

[mastertrader7]

User33 your reply is not in its place.

I do not need your fish,i just asked for some help on that matter.

There is no need for that arogant behaviour.

You willing to help this community great,you dont its fine too.

We are here to share and grow together.

I think you missed that point.

[user33]

USER33

 

Following your excellent post I am going to follow your advice and not give up, follow that guy and try to implement the info.

Traderbeauty-Jane

 

I am just another trader who is working to become a truly successful trader, I am not qualify to teach others, just sharing my experience for others as a something to reference. I am not giving any advice, but rather sharing my personal opinions about trading based on my actual personal trading experience. Please do not "follow" anyone!

 

You can watch his webinars and read more about AUCTION PROCESS, about reading order flow using footprint charts, and you can also learn to read the order flow using the DOM. Order flow is just order flow, don't attach "signals" to order flow, learn to read the flow, which is FLOWING, DYNAMIC!, don't try to find the "signals" with the mentality that there are some magical "indicators" that can generate "signals", trading is a game of probabilities! You want to learn to read the flow patterns that show the higher probability of price going higher or lower or sideways at the price levels you identified as potential entry-exit levels, based on AUCTION analysis and any other form of analysis such as your fib analysis. I personally don't even use fib analysis, just pure AUCTION, Price Action, and real time order flow (from both footprint chart and DOM).

 

What is AUCTION and how to do AUCTION ANALYSIS? that is another topic separate from the order flow analysis.

 

There many, many different kinds of analysis (volume, price, momentum.....), and there are useless analysis that are based on "Technical Indicators", I don't use any of them, I only use AUCTION, PRICE ACTION, and ORDER FLOW, basically just reading the real time prints on footprint charts and DOM, there is no such concept as "signal" in my trading approach.

[user33]

May be an analogy would help:

 

You go deep into the forest with an experienced guide, he shows you how to read the various patterns of the forest: rocks, soil, tress, shrubs, grass, trails, animal footprints, animal marks on the ground, on tree trunks, on shrubs..... He is teaching you how to read these patterns to identify the locations of the forest.

 

Now, imagine that you don't pay attention to learn these patterns, but insist on asking him to show you the the clearly labeled street name signs and markers, trail names and trail markers, the markers-labels of the names of street intersections, etc., that DON'T EXIST in the forest, you would never learn to navigate the forest! you would be keep looking for those street signs and markers (SIGNALS ;) ) that don't exit!

 

Trading is like navigating the wild forest, the deep ocean, that is ever changing, growing, evolving, that is always Dynamic and not static, that cannot be "signaled" by some predefined numbers or mathematical formulas.

Edited October 12, 2014 by user33

[nifty_Trader]

USER33

Thank you so much.

I value your post and info.

I tried to use order flow analysis or footprint chart many times ( ES only ), either using market delta or gomi, ofa etc.

I could not see definitive signals no matter how hard i tried.

Let me elaborate a little more-

My method does not use indicators ( or lets say uses only very minimal few). Using price or leg analysis I KNOW where the market "SHOULD" turn and if i get a signal ( using either indicators or just price- like navi bars signals) - i enter the market using renko spectrum to trail.

Since nothing is perfect in trading I always love to find some more reassurance from any other tool that i can get my hands on.

(For example- as amazing as it sounds- the j-signal - 7 is a very good tool to give the market direction .)

Obviously VOLUME is one of the leading indications for price movements.

But no matter how hard i tried i could not get any signal in real time that i could interpret as a long or short.

Truth- you could always go back and see these signals but not in real time.

I tried to listen to webinars and seminars from all over but exactly as you said- they are vague , no clear and i could not find specific rules for entry.

Following your excellent post I am going to follow your advice and not give up, follow that guy and try to implement the info.

I believe that it would be wonderful and helpful if you start a new thread - not to tutor or feed others but a place for everyone to share their experience and knowledge about the METHOD not about the indicators.

Thanks again and please continue to post- I am sure that many are thankful.

Traderbeauty-Jane

 

 

 

Got intrigued by the discussion, I couldn't help myself but stick my nose in.

 

It is no surprise that you didn't find a signal. Market profile or auction market theory or foot print is basically devised to understand market induced information and make our bias based on that information. It is not a signal. But you can use that bias in your existing trading system and make it more potent. For example if you're using as basic as moving averages crossover which shows buy signal, and order flow indicates that there are more sellers active then most often than not it is less profitable trade and you can skip that trade. What happens with trading only with the price is that it tend to get choppy ( especially when today's trading range overlap with previous day's range, an indication of balanced market ) if you see the context more clearly you can utilise that information for your advantage.

 

Another example is, if you're already in a position and market in your favour, and let's assume you're using trailing stops, which means you have to wait for retracement for exits. with foot print chart I have found that you can get very early exits at first sign of exhaustion of ongoing trade.

 

Of course with more observation and trading experience one can use it without any additional tool ( popularly known as trading naked or Tape Trading,) but that requires immense concentration and prerequisite that you are trading only one scrip.

Edited October 12, 2014 by nifty_Trader
didn't add to whom it's referred to

[kavalan]

Hi everybody,

 

i have been reading what user33 was talking about orderflow, and i totally agree. It's an own job, and no other can do it for you. I'm an expert reading footprint charts. I have develop my own view of it, if it's possible to called in that way, and if someone has some questions about an specific action, put your chart here and i will be glad to help in how i understand it. If there are others that have knowledge in reading footprint charts can be a nice start to built somenthing useful. I trade the Es and is where i can be more helpful ;)

[user33]

.......... Edited November 8, 2014 by user33

[Traderbeauty]

USER33

What time frame are you using for the ES ?

Are you using market profile combined with foot print chart ?

Would love to see a screen shot of your gomi setup.

Take care and thanks again.

Jane

[user33]

.......... Edited November 8, 2014 by user33

[dennyyusuf]

Here is strategy guide from marketdelta , from here u can learn the basic usage of Footprint chart and various example using footprint.

http://www.4shared.com/office/gGnrzRlQce/MarketDelta_Strategy_Guide.html

Regards,

Denny.

[user33]

Here is strategy guide from marketdelta , from here u can learn the basic usage of Footprint chart and various example using footprint.

http://www.4shared.com/office/gGnrzRlQce/MarketDelta_Strategy_Guide.html

Regards,

Denny.

 

As basic user manual for using footprint chart, yes, but ignore the "strategy" part, they are not real "strategies", but rather untested, unpractical ideas coming out from a person who doesn't trade. You want to learn the strategies from a professional trader who has practical experience trading successfully using the footprint chart approach.

 

You can learn the strategies from Anthony Drager's free webinars, or from other professional traders (I don't know any, other than Anthony Drager), whatever you decide to do, never trust or believe anyone who claims to be an expert in footprint trading but who is not a professional trader (they are usually marketing people, scam artists, and failed retail traders who don't know how to trade at all).