Discover how to create a currency matrix for the currency majors

Discover how to create a currency matrix for the currency majors

If you don’t already have the currency matrix indicator from Quantum Trading, in this video we show you how to create your own using multiple charts for the currency majors and explain how this will help you in your own forex trading using volume price analysis.

00:11

Introduction to currency matrix tip

00:11

The speaker begins by apologizing for previously forgetting to turn on the microphone and mentions being married happily for a long time. They then introduce a method related to currency matrices, describing a manual approach that involves six major currencies as part of a setup or explanation.

00:46

Overview of major currencies sentiment

00:46

The speaker explains a method of analyzing currency sentiment by examining various currency complexes such as the pound, euro, dollar, New Zealand dollar, and Swiss franc. This approach provides insight into risk sentiment within these groups, allowing one to understand market dynamics across different currency complexes like the majors, yen, euro, or New Zealand dollar.

01:14

Analyzing dollar market congestion

01:14

The segment discusses the current state of the dollar in the market, explaining that it is experiencing congestion rather than clear buying or selling momentum. The speaker demonstrates analyzing the dollar’s sentiment using different time frames, such as one-minute and five-minute charts, to better understand market trends.

01:43

Inverse currency relationships explained

01:43

The discussion focuses on currency relationships within the matrix, especially involving the US dollar. It highlights inverse relationships like the dollar-Swiss franc and euro-dollar pairs. Although these classical correlations still exist, their strength and consistency have fluctuated recently, with the dollar-Swiss franc relationship showing some instability but not a complete breakdown.

02:09

Using volume price analysis in forex

02:09

The speaker discusses how trading the Eurodollar provides an inverse perspective from a volume price analysis standpoint. For example, when trading Eurodollar, observing the Dollar Swiss chart offers an upside-down view, giving a different angle on market activity. This approach is also applicable when trading other currency pairs like Cable or Aussie, where looking at related charts helps to understand market dynamics better.

02:37

Benefits of multi-pair trading approach

02:37

The explanation highlights that while currency pairs like cable (GBP/USD) may not exhibit identical price movements, they often display similar phases and key levels. Volatility triggers can occur simultaneously across multiple pairs, providing a broader view of market dynamics. The speaker notes that many forex traders limit themselves by focusing on just one chart, such as the euro-dollar, rather than analyzing the interrelated movements across various currency pairs.

03:07

Limitations of trading single chart

03:07

The speaker discusses the limitations of focusing narrowly on a single chart without considering the broader market context. They emphasize the importance of understanding the dynamics across related currency pairs, particularly within the euro and dollar complexes. By adopting a relational analysis approach and using tools like a currency matrix, traders can gain a more comprehensive view of volume and price action. This method includes looking at inverse pairs, such as dollar-Swiss, to obtain different perspectives on market movements, which can enhance trading decisions in the currency markets.

03:54

Forex trading program introduction

03:54

The speaker concludes by mentioning that the currency matrix provides a particular perspective on forex trading. They apologize for going over time and introduce the complete forex trading program, welcoming current students. The program is described as comprehensive, offering all necessary tools, information, knowledge, and skills for forex trading.

04:20

Effort required for forex success

04:20

The speaker emphasizes that succeeding in forex trading requires time, knowledge, tools, and experience. They caution against attempting to trade full-time immediately and stress that consistent effort is essential. Successful students are those committed to putting in the work. The course provides extensive resources, including fundamentals, relational and technical aspects, trading mechanics, over 200 hours of video content, and 13 PDF downloads to support learners.

05:15

Support and resources for traders

05:15

Anna and the speaker are present daily in the VP chat room, creating a supportive and friendly environment for students. They emphasize their commitment to helping students succeed, whether the goal is to earn additional income or achieve larger life ambitions.

05:39

Indicators and platform updates

05:39

The speaker discusses developing and launching a suite of trading indicators compatible with multiple platforms including NinjaTrader, TradingView, and TradeStation. They highlight ongoing efforts to build support pages and enablement systems, with the indicators being tested for release on TradeStation’s global offering version 9.5, which integrates Interactive Brokers. Additionally, they mention upcoming launches for TradeStation 10, a powerful platform with advanced features like RadarScreen, expected within the next few weeks.

06:30

Future platform developments

06:30

The speaker discusses the availability of object line-drawing on TradingView, ensuring that all other indicators can be ported to this platform. Users who already have indicators on TradingView will soon access those from MT4, MT5, NinjaTrader, and TradeStation as well. After refining TradingView, the focus will shift to MultiCharts and additional platforms planned for future development.

06:52

Books and trader testimonials

06:52

The speaker highlights that Anna and a colleague named Cooling Calm have authored several books available on Amazon, which have received numerous positive reviews from satisfied traders. These books are available in both Kindle and paperback formats. Additionally, all relevant links can be found on Anna’s website.

07:19

Closing remarks and next session info

07:19

The speaker thanks the audience for attending and apologizes for a sound issue during the session. They express hope that viewers found the content useful and learned something new. The speaker announces the next session will be on Tuesday morning at 7:45 UK time during the London market open. Viewers are invited to send any questions to David via a provided contact. The session concludes with well wishes for the rest of the trading day and the upcoming weekend.