Markets are ultimately driven by order flow. Even assuming it's possible to know exactly what orders are currently in place, and at what levels (the 'order book'
, there are always more orders about to be added that traders have no knowledge of. These orders are created by a host of different factors, that are too diverse, complex and abstract (e.g. sentiment) to be calculated precisely.
I recall reading a good anecdote in a Mark Douglas book, that went something like this: A capable analyst wh…
, there are always more orders about to be added that traders have no knowledge of. These orders are created by a host of different factors, that are too diverse, complex and abstract (e.g. sentiment) to be calculated precisely.I recall reading a good anecdote in a Mark Douglas book, that went something like this: A capable analyst wh…