Smart Money Indicator Forex
The index was invented and popularized by money manager don hays.
Smart money indicator forex. On the other hand the ssi shows the actions of small retail traders which are usually wrong and in the opposite direction of smart money in this indicator look for historically high of long positions to look for a short and vice versa for long positions. If the herd is net long then the smart money is net short. Smart money index hypertrend indicator trading rules smart money index trading. Smart money index smi or smart money flow index is a technical analysis indicator demonstrating investors sentiment.
Follow ing the s mart m oney the six 6 indicators. The indicator is based on intra day price patterns. The smart money indicator for forex. Swing arrow and hipertrend arrow.
I live in chicago but also spend time in singapore. Trading only in direction of the smart money index. Knowing what the smart money does how the big players are positioned when risk is perceived as high or low knowing where the money flows and how the economy does is essential for forex traders. To explain how the smart money operates i will use the forex market as an example.
The examples above show why it can pay off to follow the macroeconomic variables. Forex traders refuse to accept the logical conclusion that forex brokers supply you with these tools so that they can make money not you. Hypertrend buy arrow confirmed by smart money index with green bar. This creates a conflict of interest between the smart money and the herd.
If you take away nothing else remember. With a multitude of currencies trading platforms such as tradestation global for example has 23 spot currencies resulting in more than 100 pairs it is not always easy to choose which pair to trade. In this strategy there are two differents arrow. Smart money index smi or smart money flow index is a technical analysis indicator demonstrating investors sentiment.
Forex traders refuse to accept it because they want to believe that there is some magical combination of forex indicators that will eventually produce a profit. The indicator is based on intra day price patterns. And because of its overwhelming power the smart money will always win. T raders who are able to recognize and to follow the movements of the smart money can improve significantly their trading performance.
Smart money can be defined as the capital invested by traders with expert knowledge and often with inside information. The main idea is that the majority of traders emotional news driven overreact at the beginning of the trading day because of the overnight news and economic. If you would to use this indicator on the es you should have intraday data 60min in your account. In the forex market the smart money are the mega banks.
Singapore is one of the forex trading hot spots on the planet.
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