Until now, most, if not all my studies have been about charts; technical analysis, chart patterns and price action etc I am fascinated by those who trade based on price ladder but have never understood them. What are some examples of trading educator/youtuber/guru that are profitably trading mostly, if not solely, based on price ladder and pays little attention to the charts? Could you please recommend a course that teaches you how to do that? Ideally the course would be comprehensive, affordable, and not too long. Kind regards,
One of the sponsors here - Jigsaw has some good informative ones and are a great place for a beginner to start.
I dont think there is any way to pay for the course only in Jigsaw... Also Emporos Capital is charging 2,000... which is way too much for me .
What Jigsaw has for free is all the theory you need. The rest is practice and cannot be bought. What instruments do you trade?
Keep in mind that the Bots and Algos and the flippers play all sorts of games with the order book in terms of creating the appearance of bias by stacking the book and flipping size bids and offers. And depending on the exchange there is order crossing to create the false impression of a price trading out. While I would never discourage education, please be aware that it’s no golden ticket or “hidden secret”. Same with “market footprint” software and plug-ins.
Chances to find profitable trader among educators or youtubers are very low or zero. Regardless of the trading style. And i totally agree with bone.
Earlier today I tweeted a price ladder tip for MD Trader, TT's price ladder. You can see that tip and multiple other tips for using MD Trader here:
I spent considerable time at proprietary firms and a HF desk. I've also done extensive consulting for these firms. From my observations, quite a few of the automated trading bots are built to "game" the order book and the order queue. They exist and indeed thrive to lure then squeeze small scalpers and day traders - especially the "order book traders", the "order flow traders" and the "tape readers". Just my own 2 cents - you'll be much better served being selective and not over trading. The other thing is that you will need to buy or lease a seat or you will get eaten alive by commissions and exchange fees. If you're "trading the order book" - don't be surprised if your broker makes more money than you do. The primary reason back in the day to trade in the pit was that you had about a half second speed advantage. Which was tangible. It worked. You could buy a bid or sell an offer and you had a fighting chance to either collect the bid/ask spread or to scratch it. With the advent of the screen that is long gone.
Absolutely true Indeed all the order flow tools are inspired by brokers industry to involve more and more newbies into scalping = more fees
I became expert at working bids and offers on the screen because I was legging into and out of spread trades. I knew where I was going, because I required certain price level differentials and I had the patience to be effective at it. I was trading the price differentials between highly correlated products, so I knew exactly what I needed. In the very late 90's and the first couple years in the 2000's, trading the price ladder order flows was indeed viable for scalpers and that price ladder arrangement was one of the features that put Trading Technologies on the map. Harris patented it and he hired rabid lawyers to defend it and to pursue IP encroachment. The first downfall to trading order flow on the screen was courtesy of a European trader named Paul Rotter and who was notoriously nick-named "The Flipper". He plied his terror on Eurex - usually the Schatz contract, and he drove many traders out of the market. He never bothered me, in fact - I used him for liquidity. And the final nail in the coffin was of course the advent of the HFT Algos and Bots. And as I said, many of those are designed to game small retail spec traders. And it's done by creating an illusion and getting the plurality of these small spec traders on one side of the market - and then slamming the door on them.