I will say this. I know nothing about how good he did or does personally in the market, but first I watched a couple youtube videos of his, recommended to me by a cool ETer, then later while listening to a Chat With Traders (I think) podcast he came on. He could have me fooled, but he seems to be one of the most down to earth, honest guys out there. I remember on the podcast the guy asked him "so, for chartists and technicians, could watching the order flow/DOM data be helpful for them?" John started to chuckle, held it back, waited for a bit, and said "I have to be honest. No. Not really." and kept on laughing. Something like that anyways. Seemed a breath of fresh air after so many garbage podcasts I listened to guys just BSing dumb shiat. Plus he has a cool voice hahaha.
it is stupidity seeing only order flow,volume, or momentum without considering price action or market structure
I think the vendors will make much more than those who buy, cause you will end up doing another 10,000 hours of memorizing? Just cause you have a road map, as @greg500 says it is the nuances you have to get down.
Well, I didn't say so either. I specifically said, "For the same reason, I'm skeptical towards volume...". Volume is prices actually traded (the past) while order flow/resting orders are potential prices traded. I assume the premise is that resting orders or movement/patterns on the DOM can say something about current buying or selling pressure. Regardless, my concern is the same: are these orders, both past and real time indicative of what ultimately moves price considering that this is a market that's basically traded in many other markets simultaneously?
To simply put - yes . Trick is - to be able to identify or separate intent orders from the false orders that are just put there by institutional scalpers / algos to extract information or to fake buying / selling pressure momentarily on one side to lure other traders in . Orders are really like heartbeats of the market , while technical analysis is more like measuring radial pulse in one's wrist .
I don't see those bid and ask volume because it is BS. Those heavy scalpers where they trade hundreds of round turns a day look at those things. But nowadays they find trading difficult because they have competition. they are competing against algos who use high speed machine rather than human to trade. Please note that for this course, you are going to receive books, CDs ... You wouldn't see the trainer face to face. I'd prefer to see trainer face to face, and see the trainer trading live with hundreds of round turns so as to convince myself he is a successful trader. good luck to you mister.
Yes, all this stuff looks really sweet and nice, and important. Thats how the vendors sell this stuff to their customers. But the problem is, things like this are only gimmicks. They give you only a very limited, narrow view on the market. But many people think they can rely just on "tools" like this. In the meantime, they completly miss to pay attention to the things that really matter, the simple things, that dont look fancy and that take some more work to get used to and to understand. But it has to be like this. Thats how a market works... you need a crowd (> 95%) that is losing money to fuel the huge profits of the winning minority.
This must have been the most easy question ever. Just ask his broker statements for the last 10 years, analyze it and then decide if you want to spend money following him or not. You won't see it. Why? Because people who make money don't teach. End of story.
You are right mister. ask for broker statement or personal tax statement. But no one will show. some coaches actually trade live during class. That is a good way to judge whether coach is competent or simply BS. unfortunately this trading book/CD seller just sell things