Sarid Harper, a Forex trader living in Bali, started his journey with a view of the currency markets every trader wished they could have.
Working on software security, Sarid was lucky enough to get exclusive access to large financial institutions and banks. Their traders, liquidity providers and their liquidity distribution software.
Not only that, he was working on the software so could see exactly how things were put together.
In today’s episode you get to find out all of the above, and it’ll only take you an hour.
Get listening and watching below!
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[08:20] I kind of tackled all of it, distribution of liquidity and the health of the economy, as a computer science problem or a math problem.
[11:16] Essentially, I converted everything that I heard during my time working with these guys helping with the security, I converted to buy and sell zones, supply and demand, and currency strength.
[11:36] I started writing software that focuses on these two things – Currency Strength and Buy & Sell zones.
[12:03] If you look at supply and demand, you essentially have a quantity of something to sell and you have a price that people are willing to pay for this asset or whatever it may be.
[12:20] When the liquidity of an asset is distributed in the market, it leaves certain traces, leaves certain clues as to how this distribution occurred.
[13:04] When you have supply and demand and I suppose in the currency market, supply and demand can be translated into pending orders.
[13:15] When you are looking at the price chart, you are looking at what is already happened.
[13:29] You have to train your eyes to see the negative of a price chart and that is the unfilled orders or the buy and sell zones.
[22:03] I don’t understand equities, I don’t understand futures or bonds or options or anything like that. I only get currencies.
[23:18] You have to understand that everything moves in cycles.
[23:37] Being able to spot the beginnings and the ends of these cycles are unbelievably powerful.
[26:20] I’m looking at higher timeframes because this shows me where we have the major flows.
[31:17] I let the Algo do all the entries and I manage the trades manually.
[32:56] LIquidity Distribution, it finds areas in the market where liquidity was distributed either to the Buy side or the Sell side with great force.
[33:36] The Currency Strength is calculating the index for all the currencies that I trade. It’s telling me where we have reached the beginning of the end of the cycle.
[37:20] The market is so decentralized, there is no real accurate volume reading anyway.
[40:21] I think the key to success is not giving up.
[42:03] To become a trader, you have to invest an equal amount of time in studying trading as you would have to study to become an accountant or a computer scientist or a car mechanic.
[43:02] It’s a really good idea to come into the trading space with realistic expectations and most of all, a boatload of patience.
[51:10] There has to be an angle that will keep you hooked into the field of trading.