Two notes on the FX orderboards

I’ve posted on this before, but I like to repost it from time-to-time for those using the orderboards.

• … the market orderboards convey where there are clusters of orders in the market.
• There are orders at pretty much every tick in the market (round numbers, despite everyone knowing better, are particularly attractive), there’s always (OK, not always, but mostly) interest pretty much everywhere, always a bid, an offer, a stop, and so on … so what you are looking at here is where the clusters are.
• It isn’t complete, it can’t be. Anyone who tells you they have the lowdown on every order and interest in the market is bullshitting mistaken in his mind

  

OK, now for the second note – this is one from Mike, who posts the orders in early Europe/UK time: Trading from the orderboard

Here are the AUD/USD orders for today, yen and euro orders will be up a little later