I know you said there are swing trade ops out side of intraday. Does this mean all the stratergies in the course could be applied to all time frames. (eg daily, 5min etc) as I use daily Tfs (eg stop hunting , barriers and all others)
Yes! They can be use for swing trading opportunities. I am not sure what portion you are up to yet, but I do discuss the different types of inefficiencies such as the ODVE, MDMM, and GM moves. Then I weave those in together with the concept of what I call the “Maximum Opportunity Set.” So for example, if you are strictly trading currencies, then you may have a maximum of 50 types of swing trading opportunities in one year, then you can increase your maximum opportunity set by trading other types of financial instruments (preferably uncorrelated) such as some futures contracts, and stocks. If you do that, then you can drastically increase your maximum opportunity set. Don’t worry about capturing all the moves, you don’t have to. Even top traders cannot capture all of the volatility. You can do very well for yourself just capturing some of them. Although, if you have a small account and are nimble, and are in tune with the market and trading in the zone, then you can capture many of them.
I don’t really trade based on time frames anymore. Instead I trade based off volatility principles. So when I am trading intraday, I will use stops and reward risk, based on the current volatility and what I expect the future volatility to be. I don’t use time frames anymore. Of course I still use daily charts and intraday charts, but I don’t really assign any special attention to any chart or price patterns. Time frame trading mindset is heavily based upon technical analysis principles such as indicators, chart patterns and price patterns, because those traders heavily rely upon them so they can see those signals fire off.
With the more order flow way of trading, you want to dig deeper to find the true meaning why price moved in the past and why it can move in the future. Once you get good at it, you don’t need any indicators or chart patterns or price patterns. Once you learn about catalysts, expectations, scenarios, macro, sensitivity, etc, then you can find the hidden patterns and setups once you combine the information that exists outside of the chart, and connect that with the volatility of the market.
That is what indicators, chart patterns and price patterns got wrong. They tried to connect those things with the price movements. They tried to connect those things with the volatility of the market. But they don’t really cause billions of dollars of orders to come in and move the market most of the time. Once you connect the real reason why prices can move with the volatility of the market, understand the shifting expectations, understand the battle of scenarios, then your trading will begin to surpass your expectations. Don’t worry as much about the information overload of all the scenarios. I have useful tricks I show you for drilling down and finding the most important scenarios to the market.
You can usually explain the price movement for the day in 1-4 sentences, for every financial instrument. You usually don’t need any elaborate 3-5 page theories like some financial analysts like to write. A simple 1-4 sentence explanation listing the key catalysts, key expectation repricing, key theme/story the market is latching on to, key scenarios that are battling it out, etc, and you will gain much needed clarity.
The market can’t be focusing on 40 different things at the same time, because human beings cannot focus on so many things at the same time. The market will usually only be focused on 1-5 key elements at any given moment.