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simon jousef's GTR trading room

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Elite Member
Washington DC
Trading Experience: Advanced
Platform: TT
Broker/Data: Dorman
Favorite Futures: US Treasuries
fminus's Avatar
Posts: 129 since Sep 2009
Thanks: 156 given, 289 received

Greg4hvn View Post
I am looking into these "price magnets" as well. Is this all there is to it? Do you think there is any beneft to this system? I am sure these levels could be duplicated if what you say is true.

There is nothing special about the price magnets. If you think that there is some magic inside bid and ask equaling the same, you my friend, have a long way on your trading journey.

The bid x ask is all relative to the time frame that you're looking at. A 50x50 could be inside a bigger 1000x1001. Which one is correct? The answer is both. If you play around with his magnet indicator, you'll notice that on higher time frames it will draw less "magnets" than if you were looking on a lower time frame.

Also, because of statistics and reversion to the mean, these lower time frame magnets will get reached simply due to the nature of the markets and the search for fair value. If you really want to find something that will be a magnet, use what everyone else is using (POC, VPOC, gaps, etc).

They offer you nothing that you can't figure out yourself for free with some hard work and experience.

In trading, shortcuts lead to the longest path possible.
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