What Every New & Or Aspiring Forex Trader... Still Wants To Know

Hey,

My analysis on London close trade today…
Critics/advices would be very appreciated.

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I’ve just finished reading the nearly 3,000 posts in this thread, taking notes and bookmarking links, and think I am about ready to start trying things out. There is just one thing missing: Manta’s Market Flow indicator. If one of you would be so kind as to post a link to it, I (and other latecomers, I am sure) would be very grateful. If not, I suppose I can do the analysis the old way.

I think it isthis Pajo
http://forums.babypips.com/attachment.php?attachmentid=15580
Or go back to post # 944

Oh & welcome to the thread! :smiley:

Okay… if you were in the Smart Money Swing Trading Concepts webinar I held a few weeks ago… do you recall the markets I mentioned in the presentation?

I went over and really outlined U/C pair. If you were part of that presentation, please like this post for record sake so it doesn’t bait the hindsight Trolls.

We covered the trades that unfold a few times per year that stack the odds up for what I call and Larry William’s coined the term for… “Mega-Trades”. These trades offer returns of several hundred pips per lot. I discussed how the trades can be zero’d in on and how to enter them. We covered the precise point Smart Money assumed longs and lessened shorts on the Swiss Franc and used the July 4 week for timing.

Anyone wish to glance at a Usd/Chf daily chart and see what everyone else is clammering over… now that the move has materialized; but we in “the Inner Circle”, [I]lol sorry I couldn’t resist that one[/I], knew all along and how many pips did it see since July 4th week? How many entries did it provide you from that point until now?

This is just one example of the amazing trades that you could capture if you use the concepts on the longer term charts and tracking Open Interest, Inter-Calendar Spread, COT data and simple trend analysis… and a seasonal tendency.

Is this evidence enough we’re about to delve into waters few have ventured into on these forums? :wink:

Fasten your seatbelts folks… you are in for a ride!

[B]GLGT [/B]:57:

Green As Grass,

Thanks for the welcome and the attempt to help! I’m sorry, though, as I wasn’t clear enough. Manta removed his indicator after a run-in with the administrators, and consequently the links to it are all invalid. What I was really asking is whether anyone knows of a valid link elsewhere (I haven’t found one) or would be willing to link to their copy of it. I am sure Manta doesn’t mind us using it, it is just this site he appears to be unhappy with.

the reason for this was that I saw the pike down acting as a support and that the EU wasn’t making any lower lows, so this was a SMT divergence for me and I often find great countertrend trades in NYC. I didn’t trade it very often, but I will definitly take a closer look at it :slight_smile:

greetings

I hope no one was hell bent on buying the EUR last night and did not get caught in the lightning! Holy cow am I glad I went to sleep early, I would have been against that one…

I have a copy of it I think, honestly though, it’s not needed and completely useless, sometimes it’s not even reliable. But if you want it I can give you a copy. Manta’s a fool, I stumbled on his website just yesterday and it ticks me off he would do what he did. He has no respect at all.

Haha, I got 100 pips of that lightning, plus 20 pips right now for the London Close… :stuck_out_tongue:

Ah Sorry mate I didn’t realise the link was dead!
It’s a pity Manta got his nose out of joint with the forum, dunno if the moderators or he pulled his web link…
Maybe someone could email it to you if he doesn’t mind?

Clark,

Oh, if it is unreliable, I shall just do the analysis the old way. Thanks for the offer, though.

At least for me anyways, there were times on my platform where Manta’s indicator would say the TF is long, while it was clearly short. So, could be something to do with my platform, as I haven’t heard anybody else complain about it. Haha :stuck_out_tongue:

Regards,

Actually, I sold the Fiber at 4370 during London open. After 3 hours of it chopping wood I exited for a 1 pip loss.

That was about an hour before it rocketed through all my TPs.

There was a huge bearish divergence on the hourly showing the slow rise up in the fiber was really distribution. I just didn’t trust it enough and bailed early.

Hey clark would you mind posting a chart of what got you into that downward movement? The OTE on it?

Thanks,
Z

I think I’ve got the same 20 pips off LC like you :stuck_out_tongue: I’ll post it later :slight_smile: exited at 1.4199, didn’t need to look for more with that important level so close to my entry hehe. This one adds to my winning streak in LC since I started trading only this session and took a closer look at it :slight_smile: I’m getting scary that this has to be broken :S

greetings

If you wouldn’t mind posting charts of the divergence and what you were looking at? I am always looking to learn and pick your guys brains. I seem to get stuck in one sentiment and forget we are short term. I was staring at all the head and shoulder patters, the daily, and 4H and was bullish as could be. Need some chart help :), if you wouldn’t mind posting the analysis I would greatly appreciate it.



Fiber is making higher highs
Cable is making lower highs

Look where fiber is at…a key resistance level.
Use your SMT for confirmation of the short and you good to go.

The way i use it is, If you plan to take a trade on fiber, you use cable as your “indicator”
Same concept as using MACD etc you have bearish divergence here. Fiber is going higher but your “indicator” is telling you its on its way down…

This tool is worth more than gold, hope that helps you



Here’s another example from yesterdays price action.

Cable lower lows
Fiber higher lows

This sets a long trade on cable
Look where cable fell to… key support 6180…

So if you trading cable, fiber becomes your “indicator”, in this case you had bullish divergence. Your “indicator” is telling you this train is going up

Here’s a chart showing you how to get in


SMT is used as a confirmation tool, its confirming the direction of your trade
Well this is how i use it anyway :wink:

Exactly my story, sold at 4375…
Then scared myself into thinking there was too much resistance for it to drop much & my stop loss was in my eyes going to have to be 60+ pips to be out the way (although I now see I got that wrong…)
Anyways the trade started going against me so I pulled the plug for a small loss :frowning:
Never mind, I’ll try again tomorrow :slight_smile:

ANother Volatile week.

DOW down more then 500 points… USD UP

Inverse corelation… cherry pick… good trading day…

Hey Pajo… welcome to the brood!

My advice would be to spend time with the manual analysis of determining Market Flow initially… you really do yourself a dis-service as a developing trader when you reach for time saving tools without getting to know what makes them tick and how you can learn to anticipate when they will speak… far in advance.

Your Price Action analysis will only be that much better for it… I can promise you that!

[B]GLGT [/B]:57: