16 candles in the '58 edsel'

The Lobby
#1
  • Identify
  • Filter
  • Execute
  • Manage

At this end of the food chain the priority is to make life as easy, controlled & disciplined as possible because one of your major advantages is flexibility.

How you pick your way from A to B will be heavily dependent on a number of criteria including; personality trait (psychology), preferred style, experience, capital exposure & time allocation.

But that flexibility to manoeuvre in & out of positions more or less at will & flip between & across a multitude of instruments affords you the opportunity to tune into the market rhythm & pulse just as fast & efficiently as the professional community, minus all the heavy lifting involved with their position sizing.

The type of market rhythm presented & discussed here focuses on identifying, filtering & triggering directional biased momentum moves. Some of these moves will last half a day, others half a month or more.

The beauty is, no entry or exit decision needs to be made until the momentum cycle signals you in & out again & to assist with that objective we recommend attention be paid to an instruments average daily/weekly range coverage, the key round numbers/figures, prior session (day/week/month & quarterly) highs & lows + the broker client long/short positional weightings.

Average daily & weekly range info will help to gauge under & over extension of the various pairings you’re seeking to take advantage of. The period inputs we’ve researched & tested that offer the closest consistently accurate application are 1 month (22 days) for the daily & 3 month for the weekly.

Currencies honour these averages pretty consistently throughout the year & the objective when prepping entries is to leg into your bets with as much as them available as possible. Partial/full exits can be planned whenever the daily or weekly averages are extended to their limits & tickbox key levels referred to below.

Prior session levels & round numbers/big figures are premier focal points for currency activity, often harbouring large order tickets, options interest & each-way business, hence the increased volatility often witnessed when they come into play.

Long/short positional weightings are now published live by a good percentage of retail shops. We show how to not only correctly read & interpret this information, but how to incorporate it into whichever style of participation suits your objectives & purpose.

If you’re looking for references on support & resistance, moving averages, volume, elliot wave theory, trend lines or any other mass participation eye candy gizmo then you’ll need to look elsewhere – it doesn’t form any part of the concept presented here.

When seeking to succeed where the majority continue to fail, it would be prudent to avoid the types of activity they spend most of their time engaged in & the information they rely upon to execute their deals.

"pay the ferryman & don’t spare the horses!"
badges & buttons available at the door.

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#9

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I don’t want a button. Give it to a hopeless person.

#24
#25

Tess, I’d like to send you a P.M. but it doesn’t seem to allow that? Would you send me one? thanks.

#26

#27

Put on your red hat & jumper…& dance!
You know you want to :slight_smile:

#29

#34

Thanks for reaching out DoubleEcho - - I wasn’t quite sure how to approach an entry on this thread - - but yes, I have had a bit of guidance from Tess - and she absolutely blew me away.

I also found a thread on another forum , that I am slowly digesting. That forum pretty much lays out the plan, wow. My eyes have been opened as to how to ; what to : when to three basic questions, that untill ‘solved’ are pretty much impossible to understand.

I did ‘paper trade’ on Tuesday, and well , deposited a tiny bit in my live accnt - - and I traded it last night. Found that I got in a bit early - but I was patient and watched through what I think should have been the correct entry - which was just 12 pips away so I did leave the trade open - AND - I just threw a TP out there - thinking I would check in the a.m. - -

Checked in the a.m. - and shoot - my order closed – well - - oh wait - - it hit T.P. (just a bit of excitement for me there)

It was on EUR/AUD long at 1.4200

And so I would like to know if that structure was set up correctly for that trade. (As I mentioned to Tess, I think I am weak in seeing the structure)

I am thinking - it may just be a perspective thing.

#35

As soultrain highlighted in his RBA snag, the blue touch paper was lit at the w/end. Volumes ticked up noticeably right off the bat across the currency all through Monday’s local session & the subsequent London/European follow through, continuing into Tuesday.

Yeah, you’ve obviously identified & applied it correctly in this instance.
It alerted entries via the 5m at c4170 local time, c4200 towards the end of their shift & c4250 an hour or so into Europe.

Even at the 4200 entry you still had a thick chunk of the day’s range left in play affording you more than acceptable odds considering the logical stop protection available, especially if it was an intraday bet.

Sterling v/s Oz carries much heavier weight via the average days range than Euro, so if you’re intending betting an Oz influenced story next time, look see if it’s displaying similar technical behavior (via your background hook template) on that pair as you’ll receive potentially more bang for your buck!

Nice bet though!

I would be very surprised if it took her more than a few lines of text to explain the structural make-up of the template.

If you can identify obvious bias/price pressure/trend development then it’s covered.
Don’t overthink it.
It’s either exhibiting a bias (via your preferred background chart) or it isn’t.
It should take you no more than 10-15 seconds to identify.
Any longer & you’re forcing it!!

#36

I’ll be honest here apache rider - the first part of your message is a bit over my head (parts of it anyway) (parts of it I understand quite nicely) The second part - 10 - 15 seconds and the couple lines of text comments do ring true in my understanding – and by taking longer = forcing it - just like you state. Thanks for the positive post - and the the little nuggets.

I’m coming from a strictly technical background - so the price drivers - are another place I need to practice and understand. . . .

But I am so excited. . :smiley:

#37

Just take your time & absorb what she’s imparted. It really won’t take long to get up to speed because it’s only a 3 bullet point template.
Don’t make the mistake of assuming just because it’s light on content it’s not efficient, solid or effective.

It sounds like you haven’t played a trending based multi-timeframe approach before?
If so, just use the identification features she explained until you become more confident & relaxed.

If you feel so inclined, bolt on Andy’s 3 Ducks framework to get you used to identifying & filtering the higher probability candidates. If you decide to use it try to pay less attention to the moving average & focus more on what that average is actually encouraging you to observe, which is of course the motion activity or trending pressure of one currency over another.

#38

No sort of assumption like that - in fact quite the opposite - it is amazingly powerful - - I’m hoping to learn it properly, as to not shoot myself in the foot.

Correct - I have not done anything like this before, but I do have a whole lot of experience in experimenting - This is why I feel very confident in parts of the 3 point template, and well pretty weak in the other part(s).

As far as 3 ducks. . I may get to that – I am slowly trying to absorb the information, as to not miss a thing, so it will be on my to do list. But not in my immediate future. (unless advised otherwise :slight_smile: )

#40

In my opinion - technically speaking only the usd/cad shorts may be in order today?

I am questioning my ability to see structure - and so I think this structure, if we get some sort of pullback to maybe a couple different places - depending on timing n such - a short may pay?

Am I off on this or risky or on target? Do you need/want a chart posted?

This is just a for example exercise - -I have not done due diligence on any other pairs as of yet. In fact I have not done due diligence on this pair either - just trying to understand 1 key concept.

Thanks in advance for any thoughts on it.

EDITED - -not eur/cad it is usd/cad

EDITED again – or is the clear daily flag pattern keeping me at bay?

#41

I’m just chompin at the bit - eur/usd - 4hr as a foreground chart!!! - but I neither know for sure- nor do I trust it - so staying out. . . for now. (9:30 CST) An obvious divergence on (well I said 4hr is foreground - so micro foreground, on 5 minute charts) still everything is ‘flat’ so well, I don’t know- thus staying out!

Edited - oh for a short 1.0875

#42

Hey “guys” - I’d like to p.m. a post on insanity – -maybe one of you could help. It’s about a top down from monthly - weekly - daily - etc…

#43

settled upon gbp/cad short circa 1.8637 - - just technical- no price drivers - - still learnin’ ecstatic about entry – but unsure of most of everything else. :slight_smile:

#44

In your very brief & concise exchanges with Tess last weekend did she at any time mention or confirm that divergences or flags form part of that particular template?

Apart from the naked bare bones background trending structure chart & the actual foreground stochastic hook trigger set up chart, did she emphasise you should be identifying, observing or applying anything else whatsoever?

Because if it wasn’t mentioned it isn’t required for [B][U]this particular template.[/U][/B]
You’re already looking for stuff that is totally irrelevant & it will only serve to confuse & divert focus.

Compare the past 2-3 weeks price activity of eur/usd to that of aud/cad & aud/nzd.
Of those 3 which 2 would you have transferred this week to your watch-list & which one would you have relegated back into the pack for future consideration?

That is a classic example of identifying & filtering higher potential probability from low probability slop.

Today isn’t particularly ideal for considering entries or set ups. It’s a bank holiday, it’s also NFP day & the money (on this template) was earned earlier in the week on clear, definitive set ups already highlighted to you on Sunday via that last message of hers.

What did she say about parience & discipline!

#48

No - in fact she did point out to well maybe not ignore it - but pretty much ya, ignore it.

No - she said this is all you need to focus on!

That is what she said!

I will do so this weekend - thanks for making sure I have the right focus!!

She said patience and discipline about 9 times - -

THANK YOU Alt Tab - - again stating what has already been stated so clearly - and so clearly again – I will be posting a poster on my screen to keep me in line. I’ve got to think about what it should say – but it will be there.

#49

AltTab / volan – thank you guys, I will make a quality post this weekend.

Double 6 - also this weekend.

It is becoming very clear - it is time to let go off ALL the garbage.

#50

Nothing needs to be let go of if it’s providing a consistently successful outcome.

By all means continue to utilize your normal research, analytical & preparation guides to set up & trigger bets in line with your activity plan/s.

But I assume since you requested assistance last w/end you were considering or requiring a fresh view of proceedings?

That said, you were presented with an uncomplicated, logical & efficient alternative to identifying, preparing, applying & executing a template that was suggested might prove beneficial in quickly & effortlessly assisting with highlighting & focusing high probability intraday & intraweek opportunities (depending on your risk attitude & objectives) which is reactive & sympathetic to the varying volatility conditions of a constantly evolving market.

If you’re looking to use it as a working basis for generating those potential opportunities then in order to obtain maximum effectiveness from it you’re going to need to maintain strict discipline in those very succinct bullet point aspects of its deployment, otherwise you might just as well discard it & revert to whatever it is you’re currently using.

There is also the chance of course that it might not be suitable for your personality or the type of activity you prefer to engage in. Only time will tell.

But whichever path you choose, keep it tight & keep it light!