I will be including the whole global macro learning process and training course inside the “Order Flow Mastery” program. But since I have been getting a few questions about global macro I will post a brief synopsis of the process in this article.
How do you learn global macro?
In the beginning as shown by the order flow trader cycle you start out with short term intraday inefficiencies. Things such as stop hunting and news trading. Why did I do that? Because that was the only order flow knowledge that I had available at that time many years ago. I could perceive the short term inefficiencies and I could actually capture quite a few of them. Also when you first start out trading, sometimes you are itching to day trade and place as many trades as you can. If that is the case and you have the time, then you can exploit the stop hunting and news trading inefficiencies that the market offers you. Because those signals can fire off a lot more often than global macro signals.
Also generally when most people start order flow trading, they do not have a strong enough knowledge of economics, financial markets, global money flow that is partially needed in order to do global macro analysis. In other words, when most people start order flow trading, chances are they are coming from a technical indicator or price action background and want to be able to trade using as little information as possible. So they gravitate towards stop hunting usually.
You start off with the short time frames because the trades do happen more often, they fire off more times than the global macro trades, and thus can gain a lot of experience really fast.
When you start going to higher and higher time frames then the trades happen less often, and usually most traders do not have that much patience. They want trades quick and fast and don’t want to sit for weeks waiting for a global macro trigger to occur.
But eventually once you order flow trade intraday for a few months or a year, you start to notice that there are some pretty big global macro moves that you can take advantage of. You realize that just one of those trades can make your year and you could even take the rest of the year off. The only problem is that you just need to learn the bigger order flow generators and learn a little bit about economics, global money flow as they apply to the forex markets. Then you need to answer a whole bunch of order flow specific global macro questions that can stump most people. You also need to overcome certain mindset and psychological factors that can limit your beliefs about the market. You also need to learn about how hedge funds trade. I will also be including a “Hedge Fund Mindset Mastery” portion to the Order Flow Mastery course as a bonus. I will be releasing details soon.
But once you get that, you can learn to swing trade and then place the big global macro trades that can occur. Then you need to learn that sometimes with the global macro trades, most of the profit comes from sitting on those trades as they keep going in your favor. Sometimes the profits proves irresistible to take, but you sometimes need to sit on them as they keep going in your favor.
Global macro does require more discipline, patience, and stronger grasp of overall order flow concepts and trading concepts. But once you learn it, trading during a financial crisis becomes one of the most lucrative time periods you can ever trade in.
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