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- Using Order Flow for Day Trading Levels: Practical Implementation Over Theoretical Conceptions
Using Order Flow for Day Trading Levels: Practical Implementation Over Theoretical Conceptions
Explore how order flow can confirm day trading levels in practice, rather than focusing solely on theoretical concepts. Learn about entry and post-entry confirmations, as well as tracking trades for successful outcomes using JP's value-based trading approach.
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Video Transcript
Theory today so I'd like to kind of put
the theory to one side instead of
looking at why uh certain things might
happen we'll just look at what we're
actually looking for um there are a
couple of links there uh if you actually
want to look at the webinar some of the
theoretical stuff so we look at things
to look for and why uh gauging
volatility uh entry confirmation also at
postentry confirmation which is just
basically tracking trades once you're in
a trade is it really working out for you
and the context of this is looking at
JP's value based approach to trading
which focuses on momentum uh sorry on
reversals rather than momentum trading
so we're not going to look uh things
like breakouts and stuff like that and
what to look for because it's not really
what you guys do
okay so to go straight in um what I'm
going to talk about first is probably
something that you don't uh think of
order flow or you don't might even not
really be thinking about at all is
looking at the average
depth okay so one of the things I do at
the open is I look at my uh depth of
market and I've got an idea of how much
depth I expect to see when the Market
opens
now if you look at different markets and
you look at the way different markets
move there's a real correlation between
the amount of depth and the amount of
volatility on a market so the markets
with very little amount of depth like
crude oil are the most volatile markets
it's not a coincidence so my my personal
opinion is it's actually the depth that
sets the volatility so one of the things
you know if you just take one thing away
today you're not interesting order flow
one of the things that's worth doing is
just at the
open and periodically you know once
every 30 minutes for instance look at
the depth look at how much depth is out
there and is it above average is it
