How to Use FX GlobalView™ with FX GroupView™ and with FX PairView™
The PitView™ Liquidity Windows have been designed to be extremely simple to use. In a 3 step process, PitView™ will identify and take you to currency pairs that have the potential to offer you the best trading opportunities. These are the pairs in which the Market Makers have the strongest opinions of direction, as evidenced by their lopsided activity at the inside bids and asks. These are the pairs that offer you the best opportunity for profitable trading, because you can lean on these imbalances in Market Maker activity to make your statistically favorable trading decisions.
Here are the 3 steps. Step #1, identify the strongest major currency group. Step #2, identify the strongest currency pair in that group. Step #3, identify the strongest Liquidity Providers in the strongest currency pair, then follow what they do and ride their waves.
If you are new to the PitView™ Liquidity Windows and just getting started, we recommend that you start simple, and build up slowly as your understanding of the power of what PitView™ shows you develops.
Step #1: Use FX GlobalView™ to display the currency groups from strongest to weakest. Pick the strongest. Double-click on its name and all of the pairs in the group will be displayed in FX GroupView™.
Whether you are a beginner, advanced or professional trader, first start each trading day with FX GlobalView™. Pick your personal trading time frame of preference. Then open up three different FX GlobalView™ Liquidity Windows, each one set up to show you different time frames. Start looking at the bigger picture first, and then drill down to your trading time frame. Identify the strongest currency group(s), and the weakest currency group(s). By comparing the individual currencies in different time frames you can see how the Liquidity Providers" opinions of the eight major currencies have remained steady, or changed over time. This will give you extreme insight into what pairs to look at for trading opportunities.
In this particular example, looking at the 3 different FX GlobalView™ Liquidity Windows, notice that the AUD currency group has been the strongest currency for both the last 4 hours, 2 hours and the last 1 hour. NZD on the other hand has remained the weakest currency for all three time frames. It would be logical to cross the AUD with the NZD and look for trading opportunities in that pair.
Step #2: Use FX GroupView™ to rank, sort and display all of the pairs in the strongest currency group. Pick the strongest. Double-click on its name and all of the Liquidity Providers for that pair will be displayed in FX PairView™.
Looking at FX GroupView™ we can clearly see that AUDNZD is by far the strongest pair over the last hour. This example just confirms how by comparing the strongest group to the weakest group you most often wind up finding that the best pair to trade has the strongest and the weakest as counterparties.
Step #3: Use FX PairView™ to identify the strongest Liquidity Providers in the strongest pair. Use the information to time and manage your trade.
The bottom image is a FX PairView™ Liquidity Window showing AUDNZD. Since, AUD is strong and NZD weak, the way to capitalize trading this pair would be to look for opportunities to long the pair. As you can see, FX PairView™ shows you what each liquidity provider is doing in real time. We are not allowed to identify them by name, so we give them a unique identifier number.
Taking the Trade: When your current trading method gives you the signal that it is time to take action, simply look at FX PairView™ for confirmation. Remember, you can only make money trading with the market makers and riding their waves. So if FX PairView™ shows you that the Market Makers are not aligned with your trade, then don't take it until they are. Then, once you are in the trade, continue to use FX PairView™ in conjunction with your current trading methodology to manage the trade.
Watch this short video to see a trader using FX GlobalView™ & FX PairView™ to enter a trade.
Because the Liquidity Windows show you what the Smart Money is doing, and
When you trade with the Smart Money, you Trade-With-Confidence.
Follow along to learn more…