Crack the Code of Forex Trading By Adjusting the Frequency of Your Charts Part 2
This video shows strategy on how to set frequency of the entries and exits in market trading. If your oblivious to wether not there’s a trend or a correction and you just go to a certain time frame and trade all the time, sometimes your trading strategy will work, sometimes it will not work ,and it will work most likely when there’s on that time frame and all other time, there could be trends on other time frames and it would work there if you went to those time frames.
So, in addition to that simple guide which expands your ability to trade on all time frames and it enables to enter and exit trades on all time frames. At the most ideal time to achieve profit entries.
more info :: wikipedia
There is no unified or centrally cleared market for the majority of FX trades, and there is very little cross-border regulation. Due to the over-the-counter (OTC) nature of currency markets, there are rather a number of interconnected marketplaces, where different currencies instruments are traded. This implies that there is not a single exchange rate but rather a number of different rates (prices), depending on what bank or market maker is trading, and where it is. In practice the rates are often very close, otherwise they could be exploited by arbitrageurs instantaneously. Due to London’s dominance in the market, a particular currency’s quoted price is usually the London market price. A joint venture of the Chicago Mercantile Exchange and Reuters , called Fxmarketspace opened in 2007 and aspired but failed to the role of a central market clearing mechanism. [ citation needed ]
The main trading center is London, but New York, Tokyo, Hong Kong and Singapore are all important centers as well. Banks throughout the world participate. Currency trading happens continuously throughout the day; as the Asian trading session ends, the European session begins, followed by the North American session and then back to the Asian session, excluding weekends.
Fluctuations in exchange rates are usually caused by actual monetary flows as well as by expectations of changes in monetary flows caused by changes in gross domestic product (GDP) growth, inflation ( purchasing power parity theory), interest rates ( interest rate parity , Domestic Fisher effect , International Fisher effect ), budget and trade deficits or surpluses, large cross-border M&A deals and other macroeconomic conditions. Major news is released publicly, often on scheduled dates, so many people have access to the same news at the same time. However, the large banks have an important advantage; they can see their customers’ order flow .
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@tradeartist I do believe in the trend and retracements.. that is very true and that is also how the algos trade.. they always buy or sell the ‘retracements and pullbacks’ that is why a trend sometimes seems to keep going and going and going…. because they just buy those dips and pullbacks.
@dalesalsa I guess I needed a slightly different method…! I hope the room is doing good and you guys are kicking ass with this method. I just see evidence of the algos hitting trade and trade. Alot of huge funds are all using basically the same algo and so when the set up comes up they all buy it and the market will go up or down on that. That is it. I guess different methods for different people.. maybe we ARE trading similar but with slightly different VIEWS… I do believe in the
@tradeartist Yea I know Scott. I like your way of trading actually — it is very chill.. but the thing is that the algorithms execute of levels of support and resistance that all the massive hedgefunds and “fast-money” funds do (funds that are in and out in minutes or seconds in day trading)… But it I totally agree with retracements and trends. If you apply that your account will grow you are correct there for sure because I have seen your trading and you trade very good..
@dalesalsa
There is no algorithm that can do what we are doing with the human eye and I seriously doubt if any hedgefunds are getting a fraction of the return on capital that many of us are getting using common sense,patience,discipline and this trading method.Very amusing when people say that would kill your account.
@dalesalsa
It is with the always amusing to hear what people say is if they know something to be a fact.I am well aware that markets move in Elliot Wave patterns all the time because I look at charts all the time.The difference is that the patterns are organic and most people convert this into formulas and rules such as 5 waves etc.
You don’t know which timeframe because it is not really what the ALGOS look for..
But atleast it is YOU ARE VERY CORRECT ONE THING == the algos ALWAYS follow the trend in the Currency markets!
BUT CONTINUESLY “TUNE” YOUR CCI == that would kill your account…
THE ALGOS RUN THE MARKETS NOW AND THEY RUN THE MARKETS IN THE SMALLER TICK CHARTS REALLY FOR DAY TRADING…
That is what we have been seeing lately..
SCOTT! This is no longer how the markets move brother! The markets no longer run in “Elliot wave”, they run from levels and levels of support and resistance by algorithm trading. Hedgefund Algorigthm trading is now like 75-85% of the VOLUME!!! Once I leaned what the algorighthms were doing my trading multiplied BUT this will get your account killed! Unless you trade very very low leverage and very very high timeframes. But with this methodology WHICH time frame do you choose…?