You can switch the framework & structure up & down the scale however you want Matt.
That’s the deal that was originally presented, & price flows will continue to offer up those cyclical behaviour traits because a lot of it revolves around crowd participation & taking advantage of the typical & repeatable patterns it continually offers.
You’ll struggle legging into the types of momentum moves usually referred to in the thread using the key & prior session/day level breaks & more so pullback triggers, if you’re only dialling in once a day. Your whole game plan will need to be adjusted accordingly based on where & how you decide to enter & what type of risk profile you’re looking to employ.
It’s no secret the activity levels will be much higher & offer a wider selection of betting opportunities when actively following the filtered candidates because it’s geared toward capturing the pops in short-to-medium term directional momentum plays as explained in the content.
How deep your pockets are will dictate how spicy your risk profile & projected profit outlook is. You’ll need to absorb your fair share of stop-starts, but when you do manage to leg into & catch a decent run those frustrating false starts should offer good pay-back.
It’s a whole different mental game when you begin switching up your time horizons!
I really like this stuff a lot. Got steered to the thread middle of last year from mentions in Merle Fleming’s room & Meisler’s site & have been looking in ever since.
At the time i was in the process of revisiting fx spot & futures, looking to merge bits & pieces from a couple of set ups i’d used previously into 1 strategy of which round numbers & time sessions strongly featured, hence the nod to your work.
The 1 & 3 month range numbers have proved very consistent with prioritizing & managing moves to daily & particularly weekly wraps on the forex, even during subdued activity periods.
Of the 6 top filtered pairs tracked last week, 5 of them closed within 1% of their weekly ranges & 4 of them settled into round numbers. It’s not an uncommon observation by any stretch, even in variable volatility conditions, so it’s high time i stepped forward to thank you guys for sharing these simple, but efficient set up features & benefits.
Considering it’s a relatively lightweight strategy it’s returning some pretty heavyweight results. One thing i particularly liked was how it flowed seamlessly from sim to live minus any order execution surprises or disappointments. I expected fills to cause a few hiccups especially on some of the less liquid pairings, but i’ve experienced very few issues at all.
Appreciating & really enjoying the content. One or two of the videos aren’t too shabby either
Yen (barring usdjpy) is the clear front runner again this week highlighting slides off round numbers & slipping previous weekly lows against pound, euro & aussie. All 3 have covered best part of full weekly ranges into their fresh weeks lows & Canadian & New Zealand Dollars have garnered support at next level round numbers, having also booked 100% of range.
I’ve got audusd, usdcad, usdchf & gold on the best-of-the-rest list all for similar reasons really, slipping or pushing through previous weekly levels or round number volumes.
I’ve not had a whole bunch of time this week but did briefly run the rule over some of my my stocks groups which popped a few candidates up onto the radar for closer inspection.
not really a lot else to say other than welcome & congratulations for picking up the sticks & beating out a rhythm
identify
filter
execute
manage
wake up tomorrow morning or a morning 3 years down the line & that sequence, format & the tools will have you up & at em within a half hour without knowing what’s driving, influencing or dictating.
[quote=“sylvanbirch, post:1255, topic:71504”]…of which round numbers & time sessions strongly featured, hence the nod to your work.
The 1 & 3 month range numbers have proved very consistent with prioritizing & managing moves to daily & particularly weekly wraps on the forex, even during subdued activity periods.[/quote]
& just before all 3 slid through those prior weekly low bases yesterday, the retail positioning numbers peaked at strong reversal (long) activity with EURJPY tacking on the largest increase of the 3 in bullish weighting @81.6% on tuesday as it backed off 132.0
Don’t overlook the positional weightings. They blend really well with the session & level tools when looking to time either fresh or pyramid entries into pullback & breakout continuation moves.
Whenever the crowd is beginning to bet heavily one-way in previously strong or established cycle legs you know the odds are continuing to lean your way & and as soon as their tiered stops begin dissolving - which usually sit underneath those lows or atop the highs - the momentum generally kicks a little further along the line. But I imagine that’s a scenario you’re already aware of if you’ve been observing as long as you say.
Absolutely not. I’m aggregating data from 3 of the larger retail brokers which has been giving me a half decent look at the biases up to press. I noticed a heavy lean towards longs on gbpjpy during monday & tuesday where they were betting for an upside push through 150.0
I was a little late on that short to be honest, picking it up as it breached last week’s lows. The better odds was the short through monday & tuesday’s lows through 149, but there you go.
usdcad was another big alert as shorts began building late last week, increasing monday off 1.27 & again on tuesday on the approach back, even though it printed a higher low. Those stops certainly got hammered during the New York afternoon session
As you say, it’s a pretty cool indicator when used in conjunction with flows & cycles & particularly round numbers, where most of the retail stops are usually housed. That cad bet is even more appetizing given the vicinity of the Q4 2017 highs.
Repetition & familiarity will quickly iron that out. The more you observe these scenarios setting up the more efficient & effective your decision making will be. At least you’re already spotting them, which is a great sign. I did exactly the same when embracing the format, as did corpellan & the other guys who adopted it.
Because it’s a constant rinse & repeat process with the same background/foreground & trigger routine you’ll find you’re spending most of your time fine tuning the identification & filtering elements to increase the efficiency & probability factor at the execution & management end. If you put quality in at the beginning of the process you’re far likelier to experience consistently higher results at the sharp end.
I used to start off with anything up to 8 or 9 candidates on my A list grid on a Monday (excluding stocks), but the watch list gradually reduced down to a core 3 or 4 higher quality performers. Sure, they’ll be periods when one or two on the B list will outperform the higher ranked candidates, but that’s life & it’s not as though you’re going to struggle for set ups operating this type of game play.
Thanks sketcher. Yeah i’m not stressing over it, just slapping myself a little for missing the obvious. It’s not like it’s not mentioned enough throughout the content.
The brokers i use don’t have metatrader as an option & i’ve never used it, but i do quite like the layout & visuals. There were some charts here with the range percentages, 00 horizontals & daily/weekly opens plotted. Are they part of their custom add ons?
The verticals are a standard inclusion. The rest are a pick n mix package available as a download from one of tess & jjay’s software guys. They can code & load anything you want onto any chart package of your choosing. It’s not MT exclusive. My brokers don’t offer it either so I just use it for visuals. I also prefer the layout & versatility of it.
You don’t have enough posts to pm so if you want to configure anything & are still an active subscriber in Merle’s room hit up Sara H (if she’s still one of the moderators?) & ask her to send your details to tessa/jay. You can discuss your requirements with them. No charge/no fee.
which it tagged today up at the 1.29 handle sniffing & snouting out potential orders atop those highs.
looks like you nibbled on some of that move, if so well done.
plenty of decent stuff moving from one round # to the other at the moment & it’s at times like this you’ll cherry pick some sweet fruit…don’t be afraid to get stuck in
Cheers stakz, yes that’s the chart set up i was referring to.
I do like the visuals on that platform. Obviously its irrelevant which charting platform is used as they all tell the same story, & this model doesn’t require price indicators or even precise entry/exit variables so it matters even less.
She is indeed still one of the room marshals volan but she’s been on an extended break of late. I’ll contact Greg or Stefan & ask if she’ll kindly contact me via pm. Thanks guys really appreciate your help. Brilliant
You’re not wrong there, which has been reflected in my ever expanding A (& B) list.
Sometimes it just rains quality.
Definitely keeping that pair + a holding stake on the front burner for a while to see what occurs on & around those highs. There’s plenty of clear air above those Q4 clouds.
I’ve been there a year on March 12 laine, mind you it took 19 months to get in.
It’s a great education & a huge eye opener. Some really big hitters contributing, but no egos thankfully.
I did some wealth management & personal finance work for 1 & then 2 more traders who, through later conversations, i discovered frequent Merle’s (& Meisler’s) site. That’s how it all kicked off. You guys came up a few times in posts & conversations mainly in the stocks & commodities rooms. I assume some of you guys have posted or hung out in there previously?
Oh man, nearly 15 years ago when it was still a fledgeling paltalk room. One or two of us have worked with folks who still hang out in there. Sara works with Andre, Jimmy & Tess but she’s currently on maternity leave, hence her absence on the moderator taskbar.
Soak it all up like a sponge, because you won’t get that quality of access anywhere else outside a professional office.
Cheers AltTab.
The fx side isn’t the busiest sector in there by any means, but it still throws up interesting & informative stats, information & flow data. I’ve been dialling into 3 bankers since the start of this year based on that + your input on here.
eurcad, audjpy & cadchf haven’t violated a previous weekly low or high at all in 2018, thus maintaining their cyclical step legs. Those pairings have generated the most attention in there since late last year, particularly eurcad when it retook 150 in early january. Their comments have interweaved perfectly with one of your key criteria of watching for, & observing the behaviour of the prior session high & low levels to confirm whether or not to become active in, or remain engaged in a regional currency & its appropriate pairings.
The round number/big figure levels & range percentages are referred to constantly by the dealers too, which cross reference & confirm the weighting & relevance you guys give to their importance over other options.
Repeating my previous comment regards your advises to acknowledge the daily & weekly range numbers, they’re a perfect nod when deciding if & when to add or encash part of the stakes, especially when a stock or currency pair is established into a cycle leg.
The hardest bit is getting aboard, because often the price action is chaotic until one set of orders overwhelms the other whilst attempting to establish a leg, but once it begins breaching prior day & week session levels, your key criteria come to the fore.
Having a confirmatory view of events from other professionals who also work this business on a daily basis from the sharp end is why i’ve found your material so informative, & clearly why you’re referenced so often. It’s all simple stuff but very effective.
Because it’s stood up to scrutiny for so long it proves it’s worth every week regardless whether your preference is intraday or rollovers.
Your USD/CAD move last week never threatened the prior day lows, keeping it alive into the weekly close & continues into next week for as long as it remains north of the prior session lows. If you have solid rules to follow that stand the test of time it makes your decisions much easier & reduces psychological stress.
Other A listers such as CAD/JPY slipped 84 last wednesday having violated the prior day’s lows for the first time since Feb 22 & rolled into Friday without threatening prior day high ticks. But you could have taken your pick of any of the Yen regions pairings last week using this step filtering process to engage.
It’s that repetition that sketcher mentioned. Because it stands up to constant scrutiny it offers such a strong psychological edge not only when engaging with the market & managing the bets, but also when you need to scratch or control losses. Again, same process every time whether it’s an intraday bet or a potential multi-handle move.
After all if you think about it, every multi handle move begins as an intraday punt.
As long as you possess a proven set of criteria that offers a high probability of flipping that day bet into a rollover opportunity, you give yourself more options. Options with staking, pyramids, management & exits.
thar she blows sniffing out the action above those clouds
it’s peddling hard into it’s average range for the day @96% so might take a breather up at the day’s highs, but that was a smart decision to keep your stake alive…lets hope it catches some tasty orders up there!
& 2 out of 3 of your bankers are off to the races again…happy dayz
