My name is Lee Harris. I’m a UK-based software developer and trader and have been involved with derivatives trading since the early 1990s. After selling a portion of one of my businesses a few years ago, I was fortunate enough to be able to devote full-time attention to trading for a period and took a desk in a London-based trading arcade plus associated tuition. What I gained from this experience was:
- a totally different outlook on Technical Analysis. I feel it’s crucial to understand TA and even more crucial not to use it but be very aware of the actions of those that do….
- just like running a business, managing ones costs in trading is important. That’s what led me to trade from home using a remote server in Chicago and Sierra Chart with no arcade desk rental fees or profit split. Having used CQG, X-Trader and Ninja Trader, I can’t rate Sierra Chart highly enough
- an appreciation of keeping it simple. We trade in markets no different to any other whether they are a street market, used car market, property, etc. If one maintains good trading discipline and money management, does not add any more complication than the principles of supply and demand and watches what the market is telling, I strongly believe one has a decent chance of a sustainable income from trading
During this process I discovered the Order Flow analysis approach presented by Mike Valtos of orderflows.com – I recommend you give his site a read. Not wishing to switch platform to Ninja Trader I worked with Mike to implement his indicators within Sierra Chart and that’s how the emoji trading Order Flow Suite came about. After a few months of using the indicators I found that my trading was much lower stress, less active and more consistent. Using these tools I find that I take perhaps 2-3 trades per day per market using setups based upon likely events in the market – reaction to the Initial Balance High & Low, reaction to the Daily and Overnight High & Low, reaction to the Value Area High & Low. I trade with a $200 daily loss limit, incredibly tight stops – 2-3 tick soft stops – and favourable risk:reward ratios.
Feel free to take a read of this site and Mike’s writings at orderflows.com. Sign up to the emoji trading newsletter to stay up-to-date on blog posts and new features and feel free to make contact with questions about the software or trading techniques. If you like what you see then I’ll be delighted for you to sign up to the suite and see what difference interpreting Order Flow makes to your own trading.