Estimated reading time: 6 minutes
Are you into technical analysis? Well, a certain website known as NOFT Traders or Ninja Order Flow Traders is willing to ”teach you” something called Institutional Order Flow Analytics. What the hell does this mean? Well, we hear that this is a method of technical analysis which enables traders to make big bucks by taking advantage of hedge funds and financial institutions.
Just purchase the magic tool and you will instantly discover the secret that big banks and hedge funds are employing to make money.
Unfortunately, we have never found any order flow trader making money and proving it with a verifiable trading statement.
Besides, NOFT Traders has no track record of ever making money with the magic indicators which they sell. They are not able to produce any proof that these indicators have been making the proclaimed bucks.
Also, their funded trading program is just a pipe dream that no one can ever realize success with. This is definitely shocking. We had to write a review of this company to bring some issues to the limelight.
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The company, NOFT Traders, believes that precision in the money markets can be achieved by analyzing trading volume, accumulation and distribution of data throughout the day.
But most importantly, the company believes that this technique of trading can help them monitor, exploit and decipher the intents of large financial institutions in the market. In fact, NOFT Traders believes that they can also teach people the skill of analyzing market data using this technique so that ordinary traders can make millions of dollars simply by exploiting these relationships.
To be honest, this technique is not new. In the recent past, several companies have created software that can monitor and analyze how volumes of orders flow throughout the day.
The technical trading community thinks that order flow analytics is the in thing. But we are not surprised given that new methods of trading keep popping out in the market after every few years. Inevitably and due to the effects of time, these new trading methods will grow old and fade away only to get replaced by yet another technical analysis fad.
This is just a trend. Like Rihanna in the pop music community, these trends disappear after some time and when they do so, trading educators and vendors simply come up with a new way of promising quick wealth and riches.
We will give an example just to show you how trends come and go.
You see, in the 1980s for instance, when Japan had gripped the world’s economy, everybody wanted a Japanese car, and all kids wanted to become Ninjas when they grow up.
But it’s around this time that a clever trading educator named Steve Nison introduced people to something called Japanese Candlestick Charting.
What did Steve do afterwards? He started hosting seminars and giving lessons on the supposed magical chart patterns. Of course it later turned out that Steve Nison was not a successful trader all his life. Instead, he was a good trading educator who sounded like he knew what he was teaching.
Indeed its fun to watch how most trading educators do their job. When one trading educator begins making crazy amounts of money doing nothing more than selling magic indicators, others quickly join and start proclaiming that they are selling the best of all indicators.
Once again, let’s go back to the Japanese Candlestick craze in the 1980s. When Steve Nison retired from the scene, someone named Steve Bigalow quickly jumped into the scene and proclaimed that he was offering better Candlestick analysis. The rest of the story is comedy because it reached a point when these two trading educators were competing for fame, and were desperately crafting techniques that would make them look more credible.
NOFT Traders is not the first company to claim that order flow analytics is the only way to grow rich as a trader. As you can see from the 1980s history of order flow analytics, this trend started long ago, and it is not showing any signs of slowing down.
The problem with this technique of trading is that it cannot be back-tested. It is almost impossible to quantify things here because most of the opinions are quite subjective.
For instance, we have encountered several examples of how there was thin volume at the top of a price range, and after that, price surged. This led to an increase in price. But on the other hand, we have encountered very many cases where the exact opposite happened.
In other words, order flow analytics is just too subjective or interpretive. It is something that two people, staring at the same chart will always interpret differently.
We spent a large part of this review talking and learning about order flow analytics and how corny trading educators have been using them to take advantage of naive traders.
Now, who owns Ninja Order Flow Trading? Well, it is owned by someone called Christian Hoffman. Some of you are familiar with him because he has been creating and selling trading software for quite a while now.
He is also the owner of Ninjacators.com. Christian Hoffman is a very clever person because he knows that retail traders are always on the look out for the next trading indicator. The owner of NOFT Traders can code it and sell it to you.
When we afforded to get an interview with this man, we found that he was a delightful and humorous person. He generally had a good attitude and was willing to tackle any issue thrown at him.
NOFT Traders started out as a prop trading firm. Then somewhere along the way, the owner decided to blend it with a trading educational business. It is not clear whether NOFT Traders has actually funded any trader. What we know is that the educational part alone costs $4,000. But if you want to stick with them and keep raising your chances of winning a funded account, you must keep paying $299 per month. Honestly, this is not a good idea, especially for the retail trader who will be cautious not to lose money.
For us to endorse any trading product or website, the owner must prove to us that they are doing something legitimate to improve the lives of ordinary traders.
First of all, the owner of NOFT Traders is open about his business. We like this fact. The only problem with him is that he will never verify his performance claims.
When you’re dealing with him, brace for working with someone who will never show you his account statements. The alleged simulated trading performance cannot be independently verified.
At this point in time, we would have done a good job rating NOFT Traders well. Because we are demanding for proof of performance and it is not available. We have no choice but to ask our readers to exercise caution.
As we have said before, order flow analytics is very subjective, and cannot be used as a primary trading strategy for making consistent profits. NOFT Traders would have passed the test if they proved their performance. In this case, we have to rely on our faith to trust them.
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