didn't know fucking audusd has a short-swap of -25$ per standard lot...! not the best pair to short in asian session.
Thx President Dumb and negative swap!
Thx President Dumb and negative swap!
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DislikedHey Dale mate! I'm curious, why didn't you put the sell level in EU from earlier a little lower were the biggest volume bar has occured? That trade would have worked out without higher risk.. {image} The same goes for the EU long level, you put the entry just below the highest volume bar of the cluster: {image} I don't understand why.. isn't this unlogical since the rejection will occur most propably at the point of highest volume?Ignored
Disliked{quote} Hi PC That's correct, the longest period I have between a level being put up and actually traded is 43 days, price got as far as 340 pips away from the level, when it eventually did return it went 2 pips past and then retreated for 50. Of course they wont all do that, but I cant see any correlation between time lapsed and failure/success rate, until I find out otherwise I'll keep trading them - providing of course they are not up against macro news. cheers ziggy ps talking of macro news, dont forget that bank of Canada has some major news...Ignored
DislikedEURAUD has a lot of respect for the levels. Another precise hit {image}Ignored
DislikedI've been asked about strike rates etc regarding 20/20 and 12/10, firstly I have to say my data is black or white, it does or it doesn't. I hope you've all listened to Dales commentary, assuming you have you'll know that yesterday on the 12/10 approach Dale took a B/E trade on the EU, he can & does manage trades very closely and that is by far the best way to trade. BUT - not everybody can, my data will have that trade as a loser on the 12/10 approach, as it would had the trade got 9.9 pips in front and reversed. You need to know that before reading...Ignored
Disliked{quote} The answer is no. I look at volumes from different brokers in order to analyse the last couple of days and also the volume analysis needs to be supported by the price action. I jot down the levels each evening and double check em in the morning to get a fresh perspective. At the moment I trade 17pairs but thinking of dropping franky as the CHF results are slightly below the BE.Ignored
Disliked{quote} The answer is no. I look at volumes from different brokers in order to analyse the last couple of days and also the volume analysis needs to be supported by the price action. I jot down the levels each evening and double check em in the morning to get a fresh perspective. At the moment I trade 17pairs but thinking of dropping franky as the CHF results are slightly below the BE.Ignored
Disliked{quote} Ah ok, good approach. It doesn't take long to do a quick backtest to confirm if a pair obeys this method of market profile. I found AUDJPY is a good pair.Ignored
Disliked{quote} Hi Sandmann, Would you discuss a bit more about "volumes from different brokers"? I often found the market profile to be inaccurate at price extreme and am looking for solutions. I am also wondering this question: EU future price is different from spot forex price, so the volume cluster identified based on futures should be different price right? Would this affect the accuracy of the level. Or should we do some adjustment like Future price / ( 1 + forward interest rate) = spot price.Ignored
Disliked{quote} Hi Antonym, I use tradingview to do the charting and the overall analysis. I only use MT4 for the order execution, as I find it not very user friendly compared to the rest of the industry. I used it in the past but it's not my cup of tea. I do the charting mainly on FXCM. Once I have the levels jotted down, I compare them to Oanda, IC and Forex.com in order to check the level. I only look for the strongest ones in my opinion and not trying to push the trades for the sake of it. Regarding the futures question, yes it is a different price...Ignored
Disliked{quote} I was using futures for my analysis. There was a little difference between futures and forex. I chose the highest volume areas on futures. You are correct I prefer to put my levels exactly AT the highest volume.Ignored
Disliked{quote} Thanks for the answer. What do you mean by "compare them to Oanda, IC and Forex.com"? Can you choose various broker data source at tradingview? Ok the future question I will ask Dale about it.Ignored
Dislikeddon't forget we have some big news items in 35mins time, I will not enter any fresh trades until that info is out.Ignored
Disliked{quote} So according to the rules we close down all the pending orders now?Ignored