More info on the Forex Bank Trading Strategy: https://www.daytradingforexlive.com/day-trading-forex-education-course/
This forex training video walks through the confirming entry. The confirming entry has been a powerful tool we have used for years and continues to stand the test of time. Overall the best way to identify what the banks are doing is to wait for the market to reach our pre-selected 'high probability point's' and see if the stops are then taken. If we see the manipulation around these points, we have a very good indication of when the banks may be entering the forex market, and thus we can trade accordingly.
The confirming entry is one of the tools that we use to validate the entry or invalidate it. In general, there is a compromise between forex trading strategies that take a great deal of time to confirm vs. those that confirm quickly. Each tends to have its own weakness, but this is where the confirming day trading entry strategy shines. Overall it tends to produce a trade signal fast enough to not miss many trades, while not so fast that it produces many false trading entry signals. I hope this video helps....happy trading!
I do for the entry, but the exit is generally a limit order. For those learning to trade I would recommend sticking with limit orders. It takes a bit of the emotion from the process which I believe is a good thing while learning.
If you want to add in a level of discretion around the entry and look for slightly deeper pullbacks (as I often do), I would only recommend doing so after you're profitable and looking to improve.
Day Trading Forex Live agreed. Took me some time but after seeing what I call main vains in the market you can tell where money will be injected even with that you can lose big. You then need to make sure you know how to track momentum. Then you need to track manipulation. Then you need the balls to pull the trigger. Then you need a post push button plan for all senarios. Finally you need to not get discouraged or too confident. Crazy industry this is.
It's possible, but I think it's hard to say for sure. I look for very specific info for a stop run but that doesn't mean market manipulation cannot be seen in other places. With that being said, we have to be able to see it to be able to trade it. So, while they might be buying into the selling pressure, I think it's impossible to say for in this specific situation.
We trade short-term test of high liquidity zones. LIke any trading strategy, perfection doesn't exist in trading. With that being said, we look for probabilities. Since these setups are reversal setups by nature, we have a higher reward to risk ratio. Therefore, if we only maintain a 50% hit rate we're going to do very well. I linked below to a video that describes that in greater detail.
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Glad you liked the video. Yeah I was just looking back at the first video I did on the Stop Run Reversal, and it was all the way back in 2010! Time sure does fly! All the best in your trading.
Cryptocurrencies tend to move a little bit differently as they are much less liquid, and they have less central control. Because of the reduced liquidity, it takes smaller chunks of volume to affect the price. As such, I just don't think they are stable enough to trade at this point. I do feel like Bitcoin is close but overall still not a large enough market yet.
Things like round numbers, major fib levels, pivot points, and the 200 EMA are just supporting factors. Those things are very well used, even among "professional" traders but they don't condense liquidity enough to be a manipulation point IMO. Remember a manipulation point is where a mass of liquidity is likely located. The question you have to ask yourself is what condenses liquidity better than anything else. Another way to look at it would be to ask what do more traders look at than anything else.
If you put 100 traders in a room they would all have different ideas and different strategies that they use. One thing that they would all understand and likely many would use in their trading would be previous turning points in the market. Its a massive over simplification to say you just use support and resistance levels but nothing condenses liquidity like major turning points in the market. This is a good starting point and then if they happen to coincide with the supporting factors I mentioned above that just makes them stronger.
There are a ton of free videos on youtube and you can also check out www.daytradingforexlive.com for more articles and videos on the strategy. If you have any questions feel free to email us using the contact page on the site.
You're right. Its often taught that the forex market is too large to see any type of manipulation. What is really happening though is just a simple search for liquidity. We term it as manipulation but it could be phrased as searching for liquidity. Whatever someone calls it doesn't matter much to me, the important part is understanding the information that stop runs give you. Glad you enjoyed the video...all the best in your trading!
Hi Sterling, Thank you for these videos. I'm more than likely going to do your bank trading course as soon as I raise funds. I've got an aggressive flat lease holder demanding large sums so it will be after I've cleared those monies...but that is by the by....My question is the timeframe the entry is taken on is key I would guess - however does the 1, 2 and 3 confirmation candles have to be immediately sequential or could they comprise a take out of the stop candle (1) followed by various intermediate candles followed eventually by a lower close candle (2) with a retrace to Candle 1 across a number of candles to get you within candle (3) entry?
Hi so I've been watching some of your videos and find them really helpful however I have a question and I'm sure you've mentioned it and I must have just missed it.
I wanted to know how or where you get your "manipulation point" or "high probability point" from? Is it sometimes the previous days' high/low points?
Hi...I have provided a link that gives the latest numbers. These number are public knowledge and they are released in the BIS report. Once you click on the wikipedia link you then have to scroll half way down and you will find it on the right hand side of the screen. All the best.
+Vinod Daryanani I personally take all trade off of the 15M chart in the forex market. I do trade the market manipulation strategy we teach in the equity market as well but I do so on a much smaller time frame chart...either the 1M or the 2M chart. While the entry is very similar the time frame has to be smaller in the equity market IMO.
If your profitable you should teach it. There is so much crap in this market that the entire market as a whole could use actual traders teaching strategies that work. All the best in your trading.
Thanks for the response. What most people don't realize about DTFL is we don't just think what we do works, we have proven it works in a live room over the course of years. After hundreds of trades and close to 3 years later IDK what else we can do to prove were profitable. I have a firm belief....if someone is educating they should have proven their profitability. The fact that we have is the difference between DTFL and most other educators.
cont....would simply be taking the entry on a % pullback of the stop run candle. If you wait for the confirmation on the daily chart more often then not the market will run off without you. Hope this helps.
Yes manipulation is seen on the daily charts. Take a look at the Pound on January 2nd 2013. This is just one example that comes to mind but there are many. We have a few members who prefer to trade off of the daily chart. Either way I think the learning process is the same....that is someone needs to understand how to pick high probability points and then have a way of validating the entry. The entry I teach in this video does is not what I would recommend for the daily chart. With the daily I..
Your right there two spots where the candle color is changed. With that being said once you understand the point of the confirming entry it does not change the validity of the setup. The confirming candle has two goals (short setup example)...one is to close below candle #1...and second it needs to close in its lower two thirds quadrant. The color or candle #1 did not invalidate the setup in those examples however. Thanks for the comment!
Just a little note... In your diagram the highest candle, marked #1, should be blue, and therefore candle 2,3 and so on are impossible. I don't want to dog you out man, just trying to point out that the scenario presented is impossible.
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