I saw an interesting article in this morning's Sydney Morning Herald here. My day starts with reading this newspaper, not only because its the newspaper I grew up reading but also because the international dateline is very near Sydney and the day starts there so by the time I wake up in Europe, the news has been well researched and written and I get a good summary of the day before.
What this article talks about is something that I started believing in 1979 or even before, that technical analysis is the only way to get a true idea of what is happening to a particular instrument in the market and that fundamental analysis is flawed due to latency and hidden information.
There can be no better technical analysis than orderflow and price action in context.Using algos to hybrid trade takes this approach to its logical conclusion. Not using algos to action and see the orderflow puts the trader at a significant disadvantage and at the other side of CP traders' trades.
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