Hubert Senters here.
In yesterday’s video we were talking about the dome depth of market, matrix, ladder whatever you want to call. There’s bunch different names for order entry where you can see the bids on one side and ask on the other side level 2, level 3. All kinds of different names for them, that little tool that everybody uses.
What I recommend is you don’t pay attention to much to that much you just say hardcore intraday macro scalper day trade which is hard to do. I don’t recommend. I recommend you. You trade a little bit longer timeframe. Or unless you’re an HFT or you’re a market maker or a specialist working between the bidder assets.
I recommend you look at either time and sales which is this is actually what’s going through the cash register like. This is not an implied buyer sale. This actually was a sale. This was actually a buy. This was actually a buy. And if you don’t like the visual representation of time and sales like order flow you don’t have to do. You can just use good old-fashioned volume on the bottom of the chart and get the same information.
I like doing it this way because that’s kind of how I was taught. I was taught just to read this stuff as opposed to look at a chart and it’s a hard way to learn how to do it. It’s not the easiest way to translate from one human to the next. But it’s a great way to trade in my opinion to read order flow.
But you can do it by just staring at this and learning how the gyrations and the wiggles and the jiggles will move price action and we’ll move the chart. You can also do it with just good old-fashioned volume charts it’ll do the same thing. It’s just a little a little slower because you’ve got to wait for those candles to close and it’s not as jumpy and not as accurate. It’s not as quick in my opinion but that’s what I recommend.
Good luck. Hope it helps. And I’ll see you on the next video.
Hubert.
