A machine could probably parse useful information out of the order book, but how could a human? Sure, I can see that that massive sell order is shuffling around, appearing and disappearing, but that in itself is not very useful information.
Dude - GET REAL. After the arrest of Navinder Singh Saraho....and he is in jail for his sophisticated spoofing.... the order book should now be more reliable. https://www.livemint.com/Money/TYUU...er-Navinder-Singh-Sarao-went-from-genius.html However, that's not to say there are not other crooks out there....yet to be caught. I mean, wow, 35 million dollars.....incredible.
You can see net which side is pulling the most orders second to second or which side is being hit/taken. Most of the time it occurs at such fast pace, the brain can only process reset of the counter. I only watch the order flow at S/R's to see if it will break or hold. The tick cascades where whole handles are taken down within seconds can be heard and seen.
Navinder is home now...probably trading in his friends account. but those few weeks of his life in jail he will never forget All it takes is a dream...then a little courage to try it.
Order book is the same boondoggle as Market Profile. They make a lot of money for vendors as chart add-ons.
"Depending on how much the authorities are able to recoup, he will probably spend the rest of his life paying back the money he owes. If they really want it, they could always lift the trading ban, one associate quips: He’d make it back in no time. Bloomberg" An incredible testimony to Nav's talent. Is he now out of jail ?
"he has some extraordinary abilities with respect to pattern recognition and certain sorts of mathematical abilities, but he has some fairly severe social limitations.” " He had “the potential to be remembered as one of the world’s greatest traders.” "Sarao, an absent-minded dreamer with an unerring gift for making money who would later be diagnosed with Asperger syndrome, would prove to be the ultimate mark." RainmanSavant
Navinder has some money here... The patented software was called MINDGames, short for Market Influenced Number Determination games. probably can't google this stuff...it would be no good if you could. ElectricSavant
There have always been a number of ways to make $ illegally from the markets - these mugs always end up in jail & broke. Great traders stay within the boundaries of the law. The fall out of Nav's spoofing destroyed a huge amount of capital and made the public lose confidence in the market. Many traders & operators - including myself halted trading for a long period of time thereafter which turned out to be a good idea, a great deal of time was spent combing through the aftermath of the executions on that day, working on safe guards, completely revamping the risk mgmt protocol, and waited for the SECs new rulings. His self centered criminal greed caused traders & investors a great deal of agony. Great traders don't break the law & end up in prison. He may be smart, but he sure lacks ethics/wisdom.
Don't Worry about Navinder...he will be fine...he does not need much. An Uber account and a room ...he is happy even if he sports billions somewhere... NavinderMyHeroSavant