Order Flow Trading for Fun and Profit
By: Daemon Goldsmith
ISBN: 978-0-615-52459-7
Order Flow Trading is a financial markets trading strategy focused on the orders that participants have, and will, enter into the order book.
To earn a profit via trading one must enter a position in advance of a price change, hold through that price change, and exit once the move is completed. Since price change is the result of participant order activity, Order Flow Traders analyze order flow in an effort to predict when and in which direction the next exploitable change in price will occur.
Are you still struggling to achieve trading profitability? Fed up with technical analysis and laggy indicators? Trying to figure out what this “Order Flow Trading” thing is all about? Well my friend, you don’t have to struggle anymore!
Order Flow Trading for Fun and Profit is your step by step guide to trading like the institutional participants who have thus far been taking all your hard earned money.
In section one you'll lean how and why the market behaves the way it does.
It took almost two years of studying academic papers about order flow and market microstructure to figure out what really drives price, and most of it was completely irrelevant to the needs of traders, but it's hard to know what you don't know ahead of time.
This comprehsince 205 page book will help you cut through all the nonsense by explaining precisely what you need to know to understand why prices really change.
Section two shows you how to see the existing orders WITHOUT needing any expensive software or services!
Once you know why prices change, you need to figure out what orders exist in the market. Using graphic examples you'll learn how you can extract this information from any basic charting platform to construct a virtual order book.
For prices to change, new orders need to come into the market that upset the delicate balance keeping prices where they are. Order Flow Trading for Fun and Profit will teach you the simple tricks to predicting when and where orders will enter the market and how you can use that knowledge to actually predict where prices are headed next.
Finally, in section three you learn how to turn your new price move prediction skills into multiple profitable trading systems!
The great thing about Order Flow Trading for Fun and Profit is that it isn't just another trading system. It teaches you how to predict price moves. How you choose to apply that information is up to you. And there is no shortage of trading system options available! The book covers three (3) system tactics, but you can easily adapt the techniques to profitably scalp intraday, enter and exit long-term multi-month positions, and everything in between! There are literally a million different ways of applying the order flow trading mindset, you just need to pick what works for you.
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