Is There Any Indicator That Is Useful For My Trading?
good morning good evening good afternoon how's everyone doing my name is Navin Prithyani for those of you guys who do not know me i see many of you guys were already here from the podcast that we did prior to this webinar if you guys are watching this webinar as a recording do not forget that if you want to listen to the podcast that we just did talking about indicators the link will be below this video okay the link will be below this video but moving forward our goal in each of these webinars is even though we talk about a topic that might be a theoretical topic i want you to always take something away and learn something from it i don't mean by learn something for like two minutes and sit in the webinar for 60 minutes long i want you to learn as much as you can in the whole 60 minutes time and time and time again you know so it's it's always a pleasure to have you guys here and again i wanna you know truly say thank you for taking the time off for being here i know a lot of you guys make sacrifices to to be here whether it's with time or with work or taking time off to be here and so i want to you know say thank you for for doing that and you know we don't want to let you guys down all right so important topic today indicators okay we all love indicators we all started with indicators we all have some history with indicators in fact some of us in this room right now are probably still hanging around indicators not hanging around indicators per se as in i use indicators to sort of help me make an informed decision but i'm actually trading based on indicators that's dangerous what we're going to talk about why is it dangerous like it doesn't have to be the webinar doesn't have to be indicator bad non-indicator good you know webinar over no no let's talk about i want to go deep dive you know go deep into what is an indicator how does it work how can we actually use it and what are the ones i like to use what are the settings i have on them in case that's a concern that everybody has and then how do we look at them how do we look at them does that sound good that sound good all right so let's talk about indicators let's talk about the effectiveness of indicators let's talk about can we use indicators as a trading strategy and we'll even touch base on our indicators even profitable okay so let's talk about all of those things now as we just discussed earlier and some of you guys pointed this out even into the podcast and you know we said indicators report the past report the past whenever we see a chart that's doing this and then prices are flying do we not all at certain points say oh man i wish i got in here i wish i got off here and i wish i can make that profit you guys agree we have that feeling at times so let's keep that feeling and let's say whatever that feeling is we're trying to accomplish that because that is let's say 20 pips and if that 20 pips we start dreaming about it if that 20 pips if i did that with one standard lot that'd be 200 that'd be that's good money i'd like to do that right i'd like to do that okay sorry i did it the other way maybe ten dollars a pip for one standard approximately right but then when you have an indicator for example a moving average let's start with the basic one an m a okay an m a is short for moving average okay that's what it stands for now if the setting of the m a says 10 what does that mean do you guys know the period of the setting says 10. the word period okay means how many candles it means how many candles so if you are on a one-hour chart if you're on a 60-minute chart and your ma settings are set to 10 it will use the last 10 candles and give you an average of that if you set this period to 100 it will use the last 100 candles or six thousand hours and give you an average of that making sense sorry not six thousand hours six thousand minutes sorry okay let's take it a step further now if the prices are doing this what do you think a 10 period moving average will say what how will the indicator look like i'm going to make it in the color blue so if the 10 moving average okay 10 setting moving average 10 m a on your screen is here and this has 20 candles inside of it how will it look the ma would look like this it would be something looking like that and then suddenly the price goes up it goes bam in two candles just two candles based on the last 10 candles how would it look the moving average now if i say based on the last 10 candles it would go up a little bit so by the time the moving average tells you it's going up is the move gone this is something you have to understand of what an indicator does so that feeling that you had of men i wish i can buy at the bottom cell at the top can't be done with an indicator because the indicator tells you that information a little bit too late and now you understand why it tells me too late so far so good okay so what happens is to solve that problem the next journey happens in your career where we add multiple indicators multiple indicators which means i want a 10ma i want a 40ma i want a ma i want a 96.7 ma you know you're using all kinds of stuff yeah okay all kinds of stuff along with that i want an RSI i want a MACDs i want pivot points i want a fibonacci tool i want a gan fan i want astrological events all that stuff and suddenly you start to realize i don't see the price anymore okay further down into your career as you do this you start to realize what am i doing how many of you guys have reached that stage or have passed that stage okay if you pass that stage say the word past if you are at the stage you can say me like you guys are at that stage where you're like what am i doing it's so irritating so looks like half of you guys have passed it half of you guys are currently at the stage where there's constantly of like what's happening what's happening okay let's talk about it a little bit more let's talk about a little bit more so if we know the indicator is reporting the past and we want to technically predict the future because if the move is happening and whatever this move does after we want to be in it if we want to be in it don't we need to be in the move somewhere around here approximately that means we need to have some level of prediction right if we need some level of prediction we cannot use the past at all okay because an indicator will only report what has already happened so i don't want the price to get up to here and the indicator says you must buy like i don't want to buy up there that's too high so far so good so then don't we move on from our indicators and we move on to all right you know what i don't need to do indicators so what do i need to do so i google it and as we google it what do we see what is the next best thing outside of indicators what does the career path take us to the career path takes us to the next thing which is pa price action in price action we approach the next stage of our career which is the illusion of price action masked with patterns patterns what's a pattern patterns are you see this this is a bi structure you see this this is a cell structure you see this this is a range structure and then structure this structure that structure this we get stuck in patterns early stages of a traitor early stages of a traitor yes head and shoulders okay cup cup and handle okay cup and handle triangles okay so what's basically happening is you now have become the indicator right so for example for example price is going up can you guys tell me what this structure is what would you call this structure it's a channel right higher high higher lows it's a channel right so it's like okay it's a channel channel will give you a sense of predictability just a sense a glimpse of it that this may hold again this may hold again so now we're away from indicators we've now moved into patterns and the pattern is getting me closer to hey it worked hey i like this pattern i love this structure stuff structural structure structure i love it and then it does this oh i i don't love it i don't love it i bought but it didn't happen because for me to know it's a channel i need at least this much information to pass to know it's a channel therefore i'm late again oh i'm more evolved in my knowledge now i'm back to that point of i went from indicators to pattern or price action masked like a pattern where i've have personally become an indicator now thank you mr indicators passing that gene onto me to now i'm confused again it's like i'm still late i'm still very late so now what do we do now see some of you guys saying next step is discovering urban forex right yeah that's a shortcut okay we all like shortcuts but that's a shortcut i just want to know what happens next in your evolution okay okay what happens next what happens after that is you start to say if i put indicators aside if i put patterns aside if i put um price action aside which is nothing but a beautiful name for a pattern if i put all those things aside i need to understand one thing how does the market operate if i don't know this i am literally wasting my time and if you are teaching other people by god you are not helping them at all please be careful okay you might have the right intentions but you're not helping anyone you're just doing more damage okay so how how how does the markets operate so let's begin shall we answer those questions understanding issue number one okay issue number one something that a book will never teach you humans okay the issue is not humans i don't mean like get rid of all humans like this is not you know tyrant one-on-one i'm talking about how human psychology maybe i should put the word psychology in it like human psychology all right this is not making a dictator from netflix okay so human psychology how does it operate how does it operate okay so let's talk about that now when prices go in a certain way okay we as human beings we we have a tendency to follow because we are trained at a very young age to have very low confidence okay somehow or the other that confidence just drops and we feel i must go to a college otherwise blah blah blah fill in the blank i must get a go to a good school otherwise blah blah blah it basically means i must do something i must something whether it's school college education degree career promotion otherwise insert fear into this area insert fear okay you've had how many of you guys had parents or know of parents who says you're going partying if you're going partying that means you must probably do drugs if you're doing drugs that means you must probably end up on prostitution and if you're doing prostitution you must probably end up dead like they take it that far i've had parents like that it's like if you're going partying that means end of the story you're gonna die right you guys had families like that so there's a lot of things around us that sort of like bring our confidence level down where we're constantly surrounded by fear we're like oh you know you know don't do this don't do that if you do this death is the end result if you don't do this death is the end result like there's constant fear of okay you know if i if i cheat i'm gonna die what if you cheat on your math test you're gonna die yeah because if you cheat on your math test you're not gonna graduate if you don't graduate you won't get a good job if you don't get a good job you'll end up doing drugs if you don't end up doing drugs you'll become a prostitute and then you'll be dead whoa i never thought that far like you've heard of that stuff before right okay so fear-based tactic so human psychology is a following based psychology we love to follow we love to follow so let's understand that first because that's who's trading the markets humans are trading the markets so far so good all right here we go here we go let's talk about this now when the prices are going down down down down if the prices go down all we hear about is is the negativity very few people think about the positive from this okay so when this thing is going down what is the word people will say give me some keywords that people like to say in this thing let's say this is um a certain stock tell me a stock name give me any stock name okay apple gme tesla okay let's say tesla okay say tesla if it's going down what are the words they would like to use oh oh no omg i knew it okay musk has lost his mind okay all kinds of stuff right end of the world blah blah blah tell me how many people actually look at this as ooh thanks for the discounted price how many people actually think like that it's not normal to think like that right no one thinks like that now have you guys experienced the outage yesterday when facebook dropped dropped off facebook instagram you know all those services has dropped off if you look around the news what is the saying oh that's the end of it social media they're going to be in trouble that's it zuckerberg is out the window and all kinds of stuff all kinds of stuff which is belongs to the left-hand side of things which means what will the people who own the facebook stock do what will the people own the facebook stock do they will sell notice when the sell happens here the cell happens after the fact not before not early they're not here early okay sorry this is now fb it happens after the fact why because the news has reported it has reported the past like an indicator and then now we jump on the bandwagon and say me too i will sell so far so good can we flip it around now and you tell me the human psychology on the other way okay give me a company name any company name okay neil okay amazon let's do amazon okay amazon prices are going up going up going up going up now the news reports it right here news reports are right here jeff bezos richest man on the planet what's the what's the key words people are using at this stage what's the key words people use it's a great company it will go up jeff bezos he knows what he's doing did you see how he's cut his hair fantastic he knows what he's doing you know sparkling shiny he's got this he's got this right people start looking at this as it's going to go it's going to go and it's going to keep going because it went before so it will go again so the buy happens here buy happens here so far so good now are we at the right page do you guys all agree we're on the right page of how human psychology works okay it's indicator driven generally basically whether that indicator is called news it's called neighbors it's called macd or moving average or anything we are indicator driven because we like to follow right what we're doing is we're reverse engineering everything that's happening we're not basically saying moving average is bad no no no i'm trying to tell you open up the mind find out what is actually happening how does the markets actually operate so now tell me one thing all those people who are buying up here if the prices go down and they say man the government the big boys um wall street man they always do this to me and this and that is wall street actually doing this to you are they intentionally getting into the office and saying you know what let's make sure people follow it at the last minute no no yeah they can rig the media okay i see one guy saying they can rig the media fair enough they can rig the media but we at the end of the day we're the ones who make the decisions it's our greed or fear that takes the best of us we are a following based people we're following based people so far so good everyone on on the right page so how do we overcome that how do we become that person that buys here or sells here rather than becoming a part of the herd that's the golden question now i want to ask you one thing what's my structure here what's my structure channel okay news comes out saying this this stock is good or this whatever is good this is sensex or nasdaq or anything it's gonna be good well you want to buy right but it's high so if the prices go down is anyone really selling not yet no one knows about the sales yet and it goes down more is anyone selling maybe some is anyone selling a little bit more is anyone selling a lot more now can you tell me what is this structure a trend okay so let me come out to you in hindsight and be like of course it's a cell can't you see it's a downtrend don't you want to slap that guy really hard like come here come here let me show you my five fingerprints on your face right it's like come on you're like mr hindsight what are you doing like i can do that too my goal is how do we get here how do we get there so we're away from being an indicator-based person or personality does that make sense so learning a pattern whether it's a channel or a trend or a range or anything that's good knowledge but it's not what's going to make you a trader because it's just another indicator right okay good so now we're opening the mind a little bit so we open the mind about indicator indicators are lagging okay no problem some of you guys might be there some of you guys have passed that stage but the next stage is price action and then price action is nothing but you becoming an indicator and drawing all the stuff on your charts and saying i see that pattern but that's a that's an indicator as well as we just talked about so can we take it further down your courier and saying good you've done that there's nothing wrong with that how do we get better because that's the main goal right shall we shall we move deeper okay all right let's move deeper it's like no one's saying yes okay and then all the yeses came okay now let's talk about this so instead of going structure structure structure and going crazy about structure itself because it's just a pattern right you want to understand where do i position myself okay what are the things i require i require a discount which is a good price i require a potential move and i require early i don't want to be in the move too late where it's too obvious so captain crunch sorry captain hindsight says look it is a buy i told you no i don't want that i want to be early i want a decent move that it can still have a nice move in it and i want a discount so far so good so this is how i want to position myself by answering these questions answering these questions now let's take a look at this prices move up prices come here and then they collapse would you say this upward structure has been damaged what if i told you this is still to be bought to a normal person they would be like what you're out of your mind you're not gonna buy that the whole structure look at this you see if i draw a trend line it's been broken right you were supposed to sell here like it's been broken why are you even thinking about dubai so one thing is to identify the flow okay identify the flow which way is the market going now before we do that how many guys in here are in forex many of you guys are in stocks okay i see a lot of you guys are in forex can you write the word stocks if you guys are in stocks stocks indexes okay maybe even cryptos all right so i see a lot of you guys are are very mixed i see a lot of you guys are in forex and then some of you guys are forex cryptos some of you guys are forex stocks forex index okay so a mixture of multiple things right and futures as well so the the key differences about a stock is you know if it's let's say apple just like apple one company not the fruit if apple is a stock and you're looking to trade it apple can do this and be perfectly fine it can go in one direction and keep going in one direction and keep going in one direction a crypto can do that an index can do that it can just keep going keep going keep going a forex pair cannot do that because it is not one currency it is two currencies put together it is one economy against the next if you go one direction non-stop you're gonna bankrupt the other economy so then how do you make any money so let's talk about that shall we talk about that let's go deeper into how how does the market work if you understand this i've already solved fifty percent of your problems if you can understand this okay so we go deeper how does the market work so wherever you're whatever you're learning wherever you're learning it good everyone has the best of intentions but you need to understand if you don't learn the right things you'll you'll you'll do a lot more damage than good okay so be very careful very very careful so how does things operate in forex you have a pair let's say euro usd euro usd if the chart goes up what does that mean for euro that means euro is strong it's good if the chart goes up just like it's drawn what does that mean for usd that means us dollar is weak right this currency pair if it goes up that means euros doing good dollar is doing bad now you tell me can this sustain too long this dollar just gonna sit back and say you know what it's fine we'll just we'll move to london you know we'll sorry not london we'll move to germany okay you know brexit can't move to london right it's not gonna happen it's not gonna happen but have you ever noticed one thing let's say you you're dealing with let's say NZD/USD and then you open up a higher time frame chart like a weekly or something and you see the prices from here all the way to here it's like wow two thousand three thousand pips so then a buys and sustainable buys should work right all right the thing is this happens that is correct it does happen overall something can be longevity like that forex moves on average one percent a day you have to have to have to remember this it moves on average one percent a day so you know how this move happens that happened in two years it takes two years to do this but how it happens every day is okay sorry i'm with the sound effects but you get what i'm doing right okay that's how it gets up there that's how it gets up there so far so good you with me everyone with me now if there is a price like this and you take a buy and you want the buy to do this is that normal good i want you guys to all answer this and really be honest with yourself is that normal no it is not normal in the forex market you need to understand what you're dealing with it is not normal so to come into this industry and saying can someone teach me how to grab this can someone teach me how to do a hundred pips per day can someone teach me how to do a lot of pips you are not learning some techniques you're already learning a losing game it's not whether the techniques are good or bad or the mentor has the right intentions or the wrong intentions you're already learning a losing game to begin with because the how is wrong that's not how it operates so far so good you guys have some aha moments right now at least at a basic level aha moment so any one of you guys forget the mentors and instagram people it's their job to make sure these things look appealing but for you be honest with yourself right here when you see movements like this and you're like i wish i can sell this but you don't do the cell and the cell does this and you feel oh man i knew it was a cell i wish i had caught that how many of you guys have that experience when you're like oh man horrible horrible horrible now let me explain to you next time around you do sell it and prices do this you're in profit you're in profit stop loss but what what happened last time what why happens this is far too common for people but they don't want to accept that this is normal this is abnormal they cannot accept it but yet everyone aims for this you can't make that into a consistent career if you're aiming for that because it's like going to a 7-eleven or a convenience store and saying give me a lottery ticket give me a lottery ticket give me a lottery ticket you're you're going for the wrong strategy you're going for the wrong technique the whole market doesn't even operate like that so you're aiming for the wrong thing make sense shall we go deeper all right so we're 42 minutes into the webinar how many of you guys can say you have learned more than five things in this webinar already yeah good good good i'm glad i'm glad all right let's push it further let's push it further okay let's push it further we're trying to solve how does the markets operate and once we understand that and we're like got it now we need to work on how do we position ourselves because we know by doing indicators okay okay we didn't know initially we didn't know so we went through that route okay fair enough i didn't have anyone showing me that indicators are wrong so i went that route too there's nothing wrong with that okay so now we move further we move further let's see how do we position ourselves so prices are going down okay let me let me do it this way let's say london opened yesterday okay london market opens and as london market opens it goes starts going up okay sorry again for the sound effects but just trying to make it more interesting so london market takes it up okay so you're like wow look at that power look at that power fantastic people very nice very nice okay and then throughout new york prices do this they don't really do much they don't really do much nothing happens asia opens okay dead hours london opens again now you tell me one thing will solving a pattern work because can i ask you guys one thing oh i can say i'm going to use this word okay i want to use this word bro it's an uptrend bro you should buy it but can i not easily say bro it's a dawn trend man you gotta sell it bro it's a downtrend sell it bro it's a range sell the top buy the bottoms bro it's a range and then finally bro you missed it what's wrong with you bro you missed it bro why are you crying right so isn't that a very common theme that happens like so it's what we want to understand is how do i position myself what am i doing what does this all mean so let's clean this up a little bit let's take bro out of the equation okay let's remove bro out of the equation and it says okay i don't need bro i'm gonna do this myself and i'm gonna figure this out okay all right here we go here we go london has a move up very very strong now i want you to tell me one thing as london open do you think people are in the office trading heavily okay have you ever seen london markets are open it's not a holiday but no one is trading have you has that ever happened london is open and everyone's like you know what we're just gonna drink tea we're not gonna trade you know there's it's not a holiday it's a working day banks are like nah i don't wanna i don't feel like working today restaurants like yeah close the restaurant down we're just gonna have scones and tea you know and crumpets and one guy said don't forget the crumpets right it doesn't work like that it doesn't work like that it means they hit it they hit it and they hit it hard now the question is interesting whether it was highly activated through a news event it just means whatever the case was whether the news was positive or negative they have decided that's what they're doing and for us it's like interesting interesting i get it but i don't want to buy there i don't want to buy up there it's too high it's too high i'm going to change the color to blue so that way we are now more focused so i don't want to buy up in these areas i don't want to run after it i don't want to run after it so in the position what is the one thing that we like discount we want a discount give me a deal okay so what's what is a deal like you are seeing this and you're like i want to be part of this movement but not up there man i don't want to buy high and sell higher that's really hard to do give me a pullback where i know the price is discounted and i'd like to buy it but where in this piece do i buy it isn't that a challenge where do i buy it and the next piece is what if the buy never comes back and it goes down okay what was the next piece after the discount that we said to position ourselves you guys remember the potential the potential to move which means is this guy still around that even after a discount they'll still go back up we must solve for that and then our discount is worth it otherwise all that's happening is price is just crashing and we're positioning ourselves for no reason right well we don't want to do that we want a discount which means price still wants to go this direction but prices are just getting cheaper okay you're finding a good deal so far so good you guys with me now in all these processes in all these processes you are now looking at this as an interesting way of of during new york that was this portion nothing really happened not much volume or anything like that they were trading but they were happily trading inside this little congestional pricing they're like they're happy they're doing business and business was being fulfilled someone sells that one dollar someone sells at 150. they're like yeah sure i'll take it sure i'll take it there was
no out of balance everyone was happy that's what a range is it is equilibrium they're happy to do business in that small price range later on as they leave the office asia opens and asia takes the price down a little bit okay asia takes the price down a little bit now asia is not so active not the way london is not the way new york is now as you're getting ready to look for london open again where all the activity comes back tell me one thing if the market is not active does it matter if you have a range or a channel or anything you can have the best pattern the best strategy the best bro sitting next to you if the markets are not active the big boys are not around you're not going to get a movement so there's no point of being overly obsessive over an indicator trading strategy or listening to bro right it won't work it won't work so around these prices you're like all right all right i want to see if london comes back as the londons reactivate some power you can forward think ahead like all right i want to buy with the london buyers if they actually want to buy it again so you're trading the next day using the previous day's information saying hey they feel like they're still around i feel like they're still around i feel like they're still around volume will assist you with some of these things that will tell you hey here we go let's party the other thing that's going to tell you when i buy can i take it up really really really really high 200 pips no because remember from new york asia took it down so perhaps that's where you stop asia will probably that area where they took it down someone activated the prices so hard that prices dropped that's your exit okay if you are good at doing this consistently you won't need this type of requirement because that does not exist it's not normal if you're looking for that you're gonna get two trades a month three trades a month and then good luck if you miss it your fomo will be so high if you miss it now if you explain this in this way to a normal person he can catch this trade now god forbid you explain this to a person who does fibonacci let's say it's bro and bro is doing fibonacci i will tell you one thing bro is gonna say don't you know this is 61.8 retracement that has to be a buy what is wrong with you oh my goodness it's it's it's it's hindsight all over again it's like you know it's hindsight and like well why didn't it go from 50 well well you know 50 it doesn't go from 50 sometimes they want to do 61.8 you got to be ready for that really that's your answer really so i guess you don't trade for a living like come on right so you you have to understand how the markets work position yourself based on that and then a pattern trader might say oh yeah i knew that it's not about knowing it it's about can you do it you guys feel it like you guys feel the difference in the knowledge level of can i actually do it that's more important can i position myself at a good price so i can exit at an early price rather than i enter here and now for me to make any money i need prices to move how am i going to get through all of yesterday's new york that's so thick they're not going to let me through so if i chase it and i enter this high i don't have any space to make money so that's not a good position to be in you're positioning yourself already incorrectly okay a lot of your good trades will be a buy in a downward look a cell in a upward look those are your good trades those are your good trades okay so far so good everything clicking click we get it click how many of you guys here are from Urban Forex, hold on let me open this up so i can see this properly okay i'm going to show you guys something cool you guys want to see a trade i am in yeah so let me show you something here how many guys know about the AUD/JPY trade i'm in okay the AUD/JPY trade i'm in look at the position of where the buy is taking place look at the positioning of where the buy is taking place prices jump up am i buying up here no i need prices low enough so i can sustain a buy i can sustain a bite does that make sense okay now without even going into um all the details of you know how exactly i did it how exactly i did it um but that's the core principles of how to trade it's not you see that channel that channel broke obviously it's a vibro no man like no please it's not that it's not that straightforward like that it doesn't work like that okay you know wait i can't do this and saying you see this uptrend yeah of course that's a buy well that buy failed why why am i buying why am i buying you see that so it's understanding these concepts now one of the things i wanted to point out to you guys was the answering of the question of well what indicators do i use so let me show it to you guys here you guys go so i have multiple MAs on my screen okay moving averages moving average so i got you see this one i got one two three and four how many guys are having a tough time seeing it yeah some of you guys saying can't see yeah that's the whole point i don't want to see it so clearly because i only wanted to use it as a reference point i don't use it to trade or anything like that i kept it very light in color very light in color i'll zoom in a lot more so you guys can actually see it okay all right these are the three or four colors so the numbers are i have a 10 i have a 20 i have a 50 i have a 200. now if you ask me why those numbers round numbers i like them they're cool last 10 candles last 20 candles last 50 candles last 200 candles i just want to know where the big flow is where the medium flow is where the temporary flow is that's all it's just reference it has nothing to do with and then if we do this to the MAs i'm gonna take action it's not for action taking it is for reference points so far so good does that make sense now let's talk about the other one now on the right side of my screen you'll see all these claws coming out right it's like what's all that stuff that's coming out it's like aren't candlesticks enough you also need stuff pointing left left to right like what's wrong with you no what these are it's called volume profile okay that is this one vpvr okay this is visible volume profile what that means is whatever's on my screen it shows me in that screen space where is the highest activity where's the highest activity and the red line shows me point of control which means it spent the most time at this price you can see it gets high here if you look to the left you're like oh yep i can see how prices are fiddling around with this price i see this price is important and i see nothing on top so far so good so it's just a again it's on the side this used to be this wide until here i kept it a little bit thin like i don't don't distract me with this information i just want to know where's all the high activity and if i'm above the high activity or below the high activity so i know that there is trouble if i'm going towards the high activity above me if the high activity is below me i am leaving it i prefer that i prefer that i left them behind does that make sense now do i use it to trade absolutely not absolutely not absolutely not now on the bottom let me show you what's on the bottom here let me bring this colorful monkey up this is relative volume you see all these colors that you see that looks like a christmas day you got the red the green the oranges what this is and you got some gray colors what this is is called relative volume okay relative volume what it does is because forex has three different sessions right you got the london session you got the new york session right and then you got the asia session right so if i just do a normal volume like this like that if i just do normal volume like that then i see ooh look at this high volume here oh look at that high volume there but i will ignore these little ones but that's pretty high for asia but this might be new york this might be london where they get the most amount of volume so it's i don't want to get distracted by the little ones and ignore them because they're below the average so what i do is using the um arvol which is relative volume where they go this one there it is what i do with this is this tells me if it's gray in color that means at this time of the day in the past we are below the average at this time of the day in the past we are above average green one means at this time of the day in the past we are extremely above average that tells me why is there so much activity at this time so do i use it to trade maybe this one can have a little bit more weight on my trading but the rest not at all not at all okay so heather you're asking what indicator is that call it's just called relative volume if you look for the word arvol rvol it's called relative volume sometimes it distracts me i just use a normal one because the colors just sometimes jump at me so arvol right but it stands for relative volume if you don't find that exact abbreviation you can type the words out relative volume maybe it comes out okay so red is just a little bit higher than normal orange is a bit higher than normal green is very high than normal it's like a traffic light system so far so good does that make sense so i'm using i also use indicators as certain tools to give me some guidance of you know just as an overview but not as a prediction mechanism to enter a trade i just needed to know huh i wanna wonder if i'm buying right now is the overall flow up cool and then when the cell comes in hard i'll let everyone sell i i want to buy it that keeps me in check and saying all right you're going with the flow you don't need to keep switching time frames to a daily chart to a weekly chart that's why i got all the MAs here so i don't need to keep bouncing around every time frame just give me a brief overview of what's going on so i know bigger picture is this direction got it that's it that's what the MAs are there for does that make sense so rosario you have a very good question you're asking about arvol it's above normal compared to what so in my settings i have 30 30 period so what 30 period means is at this time of the day in the last 30 days the average was higher because it's below the average it's gray in color okay um adam yes arvol is very important in the stocks as well you need to know if you have elevated volume in stocks that means today can be a busy day for you okay so in stocks is very important very very important you want to be where the action is right you don't want to just mess around you want to be where the action is okay how many of you guys can say today you learn something and it makes sense so those of you guys who are in urban forex okay obviously you guys saw the polls a ton of you guys are already part of the urban forex family and you guys are already here in the webinars time and time again which means we have a very close-knit community very close-knit community but those of you guys who are not can i honestly ask you one question did everything i say make sense did it help did it move the needle a little bit towards i've been doing doesn't matter the technique or strategy i've been doing it wrong okay so if you have someone point you in the right direction and even give you all the techniques laid out properly instead of sending you down the path of indicators or sending it down the path of structures and price action and all this stuff won't you have a better overview on what's to come how to deal with it a lot better so what we've done is at urban forex the starting point at urban forex we have something called the Mastering Price Action 2.0 okay what i'm gonna do in this webinar if you like the way i teach and you wanna you know learn my techniques how i do things how my traders in my prop firm do things you can join the Mastering Price Action 2.0 free of cost for a free trial you can pick it up today
the link is www.urbanforex.com/freetrial all one word let me type it in for you guys here um okay www.urbanforex.com forward slash free trial okay did you guys see that okay so what it is is it's an eight week long program where i release the information week after week where i teach you guys what to exactly look for and what things you need to pay attention to to make sure you're in tune with the markets so every week you'll be getting lessons these lessons are for you to keep they never expire this is not a subscription or anything like that it's a one-time thing so you get lessons week after week you can study at your own pace but every single day you get live daily examples coming your way saying you know what you just learned here's an example from the market you know what you just learned here's an example from the market if you study two months later you still have the examples along with all of that stuff you have access to support pretty much 24/7. okay we have traders from all around the world willing to assist you and answer any questions that you may have around the stuff and the material you're learning and to top it all off we do a private webinar just like this one but closed doors where i feel more more relaxed more open to talk about techniques and some of the secrets that we share with our members only so if you want all of that stuff obviously you can pick it up again at urbanforex.com/freetrial and just see for yourself just see for yourself if this is the
route you want to take if you want to start your trading career with Urban Forex and let me guide you step by step on how to do it okay the whole goal is to make sure you learn something and no time gets wasted no time gets wasted because a lot of the stuff you're probably going through i've gone through it myself i know how painful it is i lost years and years going through indicators and all that stuff it took a long time for me to come to a self-realization and come out of it to just end up in price action and getting stuck in the patterns and then another couple of years there before self-realization and then like what am i doing this doesn't make any sense and then little by little little by little here we are 10 plus years later Urban Forex has been around what 12 13 years now in fact this month is our anniversary as well we'll be announcing that it is our anniversary this month so you'll get an email all of you guys will get an email i hope you guys can celebrate with us or one of the few firms that have survived more than 10 years within first two years most firms bankrupt first five years firms bankrupt we've crossed 12 we've crossed 12 okay we've crossed 12 so we've been around for a very very long time been around for a very very long time okay all right guys so i look forward to seeing a lot of you guys inside Urban Forex into the private webinars and members area thank you all for making the time to be here as always this has been fun it's been a lot of fun i always love doing these love doing these webinars i look forward to seeing you guys again in these webinars as well until we get into the next webinar which is in a few weeks i'll see the rest of you guys inside Urban Forex thanks a lot for coming here guys until next time cheers bye for now