this is a prop trader @ futex. look what he's using: 1. ladder 2. volume profile. notice he isn't using WOM, MACD, stochastics & god knows what else. (also algorithms are 90% of the markets he's trading). all he's watching is the price & orders entering the market.threedogs wrote:I am also struggling to understand the markets and on the theme of noticing recurring patterns I have noticed that all indicators will at one time favour a lay bet and then it seems as soon as i put a low stake on the market immediately drops 5 and 6 ticks away from my price straight into a loss situation from which it rarely recovers and when I check the indicators are still showing to lay even though by doing the opposite and backing I would have made a good profit .. I cant understand why it does that....any ideas ??
i saw recently someone say, "when prop firms hire new traders, first they teach them how to read order flow. once they're profitable, then they're allowed to use charts"