[quote=Pipalicious;7515031#8221; Can you say there is a frequent denominator with mythical traders? The underlying rationale may differ (techs, fundies, etc.. .) But the'core' beneath is equal to another (other than risk management). [/quote]
Yesthey all appear to have profiled the market and have a grasp of the reasons why price move.
Tom: #8220;You see the orders and you just trade it. #8221;
I think that quote sums it up. I remember why I began trading orderflowI remember I was trading a night I think it was the Asian session and something happened out of the blue, the entire market was moving and I remember thinking to myself, what the fcuk is that, and what ever it is I wish to leap on top of it, I mean this thing was just clearing anything out of it is way, there was no way you can eliminate money if you had been following that trade, no way, a few people say you cannot quantify probability of trade and that's bullshit. In the event that you were riding that trade the chance of going into profit has to maintain the high 90s, you understand why I believe that, it is because to stop this type of surge going through could take an equally opposing trade to come in and meet price someplace, but the prospect of that happening is so slender I just don't view it happening.I shortly came to realize it was a big order going through, why the market was behaving so mad, although I could identify it easier today and currencies are accountable, It was perplexing to me, since this orders wasn't respecting any kind of technicals that I could see on my chart.
That is what I classify as a Tsunami Lol an order that appears to come from nowhere and does what the hell it wants. I probably said a lot, but I'll add that the market does have point of no return, I mean points when it'd take an order of magnitude to stop or transfer price the opposite direction.
After that night my entire outlook changed, I dropped that trade but it believed me a much more important lesson and ever since I have been profiling everything single minute detail concerning how money flows and why. Some traders likely wouldn't have learn from this loss, but that loss believed me among the most important lessons I've ever learned.