We are excited to announce we've been invited to present at July's Wealth365 Summit. This time, we'll be discussing the use of "Market Shape" to identify day trades that have above average potential. For those who register, you will get the chance to win up to $1,500 in cash. The event runs from 12th to 17th July and our spot will be on Thursday, July 15th at 10 a.m. ET. Click here to register. As usual - emails will not be shared with any 3rd party. W365 will get your email and there is an opt out that will be honored.
What is "Market Shape"?
In a recent group therapy session, I mentioned a number of techniques I wasn't on-board with and someone in the audience said "But your partner Axia Futures uses that". Well - how embarassing! On the one hand, I wasn't a believer but on the other hand, I know Axia well enough to pique my interest. And I went to see if they'd explain.
Over a number of (heated) Sunday morning sessions, Alex (the CEO of Axia) and I discussed this. The biggest proponents of "Market Shape" are some of the biggest traders at Axia. I was intrigued. Still, until I had a solid "why", I wasn't convinced. To prevent Alex and I killing each other on the phone, Richard stepped in and the penny finally dropped, when he gave me a different angle that made all what Alex said make sense..
The approach, which was developed and refined at Axia, is used to define day trading opportunities with above average potential. This isn't news trading, which is one way they identify larger than average opportunities. It's a more technical approach. The best way to look at this is that if you analyze things that we advocate like intraday volume profile, breaks of ranges and other intraday events - you'll get a trade that runs a certain amount.
Nothing wrong with that at all.
By analyzing market shape, they are able to identify setups that exploit different events. Scenarios that often build over multiple days. Situations created by those with a longer trading horizon. The result is still day trades - but day trades with a different amount of opportunity.
Axia still verify these setups with order flow, so they won't significantly differ from your current execution plan. This isn't re-inventing your trading but supplementing it with additional opportunities.
In the webinar, we'll give you the theory and a complete end-to-end setup with a 3 step approach that gets you started. This will be a complete setup in it's own right that you can start working on.
As usual, we are giving away a registration prize. This time with a twist. We have $1,500 to give away to 3 people we draw from a hat but that's just the start. We will give the 3 a chance to decide if they will share the $1500 OR if they will go for a 2nd draw where one of them gets the lot. Now - I have my theories on which will be chosen. We spend our time trading trying to figure out what others will do, so it'll be interesting to see how that plays out.
Our sessions is on Thursday, July 15th at 10 a.m. ET, click here to sign up.