Hi,
So i've been watching Peter's videos... and his order flow explanation video is a great and very interesting video, but one thing doesn't quite tally with his explanation for me. He says he trades the 5-10min before off when the activity volume starts to show the "opinion".. but he also says "this race coming up 13:40 and the one following later, I have a rough idea of how it is going to trade". That is a contradictory comment as he saying he can only get an opinion 5-10mins before the off when the volume appears, but he's also say an hour or so before he has an "idea" of how it is going to trade?! So it's more than "cold trading"? There's some sort of "profiling"? Peter says, he has a "rough idea" of how it is going to trade, "I can do that without any knowledge of the racing", "i'm not looking at the horse/course".
I am guessing he's just looking at the volume/price chart, but I thought we've already stated that has little impact as only ~10% of the total volume has traded so far...?
So I am trying to equate "cold order flow trading" 5-10mins out, with "having a rough idea of how a race coming up in an hour or so is going to trade" ?
Do you see my confusion?
Thanks
Order Flow "cold trading", is it more than the last 10mins?
A long way out you may have a rough idea because you have seen similar markets many times before. But only when you get closer to the start, when the real money arrives, will you really know exactly what is going to happen.
"rough idea" based on what? the price/volume so far? or by knowing it's Goodwood, and horse X is racing?