Volume and order flow analysis
Twelve lessons on reading a chart from what actually traded rather than from price alone — trend structure, volume-based levels, delta, the order book and the tape, and the risk management without which none of it matters.
Free to read, no account, and nothing here requires owning anything of ours.
What this covers, and what it assumes
The material starts at Dow theory and ends at the tape. It assumes you can read a candlestick chart and nothing beyond that — every term is defined where it first appears.
It is written for futures and for the instruments that report real volume, because most of what follows depends on knowing how much actually traded and on which side. Where a method degrades on an instrument without real volume, the lesson says so.
The lessons are ordered. Each one assumes the ones before it, and the first three are the foundation the rest is built on.
The twelve lessons
Lesson 1
Trend, structure and Dow theory brought up to date
What a trend is when you define it by structure rather than by a moving average, why the three phases behave differently, and how to tell a pullback from a break.
Lesson 2
Entry setups for trend trading
Where to actually get in once the trend is identified: twelve setups — the hammer, the double outside, Midas VWAP and delta divergence — each with the risk he puts on it.
Lesson 3
Market delta cycles and delta divergence
When price makes a new high and the buying behind it does not, something has changed. Reading that, and why the market so often comes back to the level where it started.
Lesson 4
Support and resistance built from volume
Levels drawn from where business was actually done rather than from where a line fits. Structural against statistical, and what a thin area predicts.
Lesson 5
The order book, the tape and market speed
Aggressive against passive: who is waiting, who is paying up, and what iceberg orders and a change in speed tell you that price alone does not.
Lesson 6
Stop hunting, and entering after it
Why price so often takes yesterday's low by a few points and turns, how to recognise it while it happens, and the entry that follows.
Lesson 7
Risk and trade management
The arithmetic that decides whether an account survives a bad month: percentage risk, lot sizing, the daily and weekly ceilings, and scaling out.
Lesson 8
Scalping with range bars and aggressive data
A range bar closes on movement, not on the clock. Why that suits short distances, and the aggressive data a scalp needs to be more than a coin toss.
Lesson 9
Trading currency futures: contracts, rates and covered interest parity
Reading the symbol and the month code, and the parity rule that decides what a contract month is worth before anyone trades it — including where it stopped holding.
Lesson 10
The currency pairs, one at a time
Every pair he trades, with its symbol, its average daily range, what a pip is worth in futures against a CFD, and the economy underneath it — starting with the dollar that sits on the other side of all seven.
Lesson 11
Stock index futures: ES, YM and NQ
What an index actually is, the news that moves one, and the three contracts — the S&P 500, the Dow and the Nasdaq 100 — with the range, the point value and the stop distance for each.
Lesson 12
What actually moves an index, and when
A handful of names carry most of the move, and the hours decide when it arrives. Pre market, the regular session, and why the edges behave differently.
Something here not making sense?
Tell us which part and we will explain it. If it is a common question it gets written into the lesson, so the next person does not have to ask.