17:50:22 Kaleb can someone explain to me what a BMX is, or refer me to where it is on site?
17:50:44 Darrell did you see the bmx video?
17:50:43 Kaleb It is being talked about in momentum scalper but I have not seen anything on it before then
17:50:50 Darrell i believe its the last course
17:50:57 Kaleb oh ok
17:50:59 Darrell (its the “hardest” part - so we save it for last
17:51:12 Darrell its not really that hard but it seems like it
17:51:30 Darrell basically 5 ticks (or in tf’s case 7 ticks) - bars less than 20 we use 5 or half the bar size whichever is greater
17:51:40 Darrell above 20 we use 5
17:52:54 Darrell sooo if the market gets to within say 7 ticks of the high (the A) but does not break it within 2 bars - then it is a (potential) bmx - it is a bmx for filtering entries - for a BMX reversal it must then break the low of the 2nd bar after the last bar that was last in the bmx zone (within or touching that 7 tick zone
17:53:00 Darrell the market does this a LOT before it reverses
17:53:06 Kaleb uhhh ok ill make sure to watch the video a lot
17:53:31 Darrell step 1 draw a rectangle on the chart
17:54:02 Darrell then edit it to be the size ie 7 ticks
17:54:07 Darrell make sure its on the high of the A
17:54:59 Darrell ok so the a appears
17:55:04 Darrell every time you have an a just drag the box to that A
17:55:23 Darrell ok now that bar is in the bmx zone
17:55:30 Darrell touching/inside that 7 ticks within high of a
17:55:41 Darrell BMX means Barely Missed X
17:55:47 Kaleb and if it doesn’t exceed the box then its bmx?
17:55:53 Darrell a x is formed when it breaks the high of an A
17:55:55 Darrell so if it gets close (defined in this case as 7 ticks)
17:56:06 Darrell but does not break it within 2 bars it BARELY MISSED making the X
17:56:25 Darrell ok so within 2 bars of entering the BMX
17:56:27 Kaleb ok that is super simple! thank you for explaining it!
17:56:33 Darrell it did not break the high of the A
17:56:41 Darrell now if it breaks the low of this bar by 3 ticks we have a short entry - with the stop at the high of the A
17:57:08 Darrell and then trail when the MVP flips (some people prefer to not trail until the MVP line is at breakeven - up to you will catch some SUPER nice moves that way but may get hit a bit to
17:57:30 Kaleb ok cool thanks
17:57:34 Darrell k dropped 7 ticks we are in
17:58:25 Darrell if you have access to nadex or ig etc… for binaries etc… this can be a cool play 17:58:35 Darrell though i have not done it much on binaries 17:58:53 Darrell meaning you can use spreads to hedge or just trade spreads (i prefer to use them to hedge as lower risk and make a lot more $$ 17:59:14 Darrell and basically no stop for about 10 points with about a 2 pt risk
17:59:14 Darrell MVP arrow flips 17:59:25 Kaleb I see
17:59:33 Darrell Now we also have a MVP short
18:00:10 Darrell note i mean Apex Elite MVP Reversal…
18:00:16 Darrell so that is double confirmation which is good
18:00:33 Darrell important back up note
18:00:45 Darrell that BMX reversal was where to exit your longs also versus waiting on it to hit the short stop
18:00:56 Kaleb I got ya
18:02:41 Darrell notice how MVP line was hit…
18:02:45 Darrell but if you left it at the same stop level waiting on the MVP red line to be down at y our entry your still in
18:04:21 Darrell 19 pts profit 1900 on tf 190 on one spread etc… (if had a eod big enough with enough room otherwise less but nevertherless profitable…
18:04:46 Darrell make sense?
18:04:48 Darrell its rather simple once you see it
18:04:56 Darrell but it can be a bit overwhelming at first
18:05:08 Darrell so you can see whay we do it last
18:06:26 Darrell there where 3 good trades even without bmx
18:06:33 Darrell at the bottom there we are running into a -1 dev
18:07:11 Darrell considering most days dont even hit -1 dev
18:07:22 Darrell or rather move much further past it - would want to use extreme caution
18:07:29 Kaleb you talking about an APEX short?
18:07:34 Darrell the apex short - 2 of them right at the bottom - right on the -1 dev line 18:07:45 Kaleb yeah
18:08:01 Darrell this is where understand price movement expectation helps a ton
18:08:09 Darrell also notice at the bottom that is at the bottom of that hours range within a few ticks
18:08:21 Darrell so you had the hourly range and the daily range both saying probably exhausted in the move
18:08:49 Darrell again on each a just drag the bmx box
18:09:02 Kaleb which is daily, and which is hourly?
18:09:29 Kaleb yeah that makes much more sense now
18:09:53 Darrell daily is the deviation level the settlement .5 .1 etc… levels
18:10:06 Darrell the hourly is the channels you see
18:10:10 Darrell like what you use on boom etc…
18:10:16 Kaleb ok I see what you mean
18:10:22 Darrell the channels are super helpful on diagnostic bars as they give you time perspective
18:10:31 Darrell every channel box is an hour
18:10:39 Darrell since the bars are not time based its easy to see all bars as the same amount of time out of habit
18:10:50 Kaleb mhm
18:10:52 Darrell and you see the movement - ie when i hit a expected move on the hour - im not suprised to see it bounced off of that
18:11:20 Darrell not a reversal
18:11:22 Darrell just a bounce
18:11:25 Darrell so i will probably get a new apex everytime i hit the low or h igh of a channel
18:11:40 Kaleb aahhhh
18:11:44 Darrell so it does not “freak me out” when it pulls back
18:11:46 Kaleb and on deviations also?
18:11:54 Darrell deviation yes but also i may easily get a reversal on a deviation level
18:12:14 Kaleb but not as common of a reversal on channels?
18:12:19 Darrell look at this
18:12:20 Darrell went down -.5
18:12:24 Darrell then went up to +.5
18:12:29 Darrell 1 dev high to low
18:12:31 Darrell and it fell and reversed
18:13:09 Kaleb yeah it went up then bounced off
18:13:28 Darrell yup
18:13:30 Darrell and again
18:13:32 Darrell we got those reversal bars
18:13:35 Darrell with exceeding volume
18:13:39 Darrell and the low was broken
18:13:43 Darrell so a good exit on your long trades
18:13:47 Darrell even better than mvp
18:13:50 Darrell and even better than bmx reversal
18:13:51 Kaleb so thats momentum scalping right?
18:14:08 Darrell basically a momenum scalp off of a dev level (opposite direction) i often a good exit point on a trade your going into that +1 or -1 dev or high to love dev in
18:14:12 Kaleb yeah I just went over that in training
18:14:35 Kaleb are -.5 and .5 deviations not as strong?
18:14:43 Darrell no
18:14:44 Darrell but understand
18:14:46 Darrell the importance here
18:14:53 Darrell this is where deviation indicator the lower one comes into play
18:15:01 Darrell it shows high to low
18:15:04 Darrell not just from settlement to high
18:15:07 Darrell or from settlement to low
18:15:18 Darrell ie red is retracement from low
18:15:21 Darrell green is retracement from high
18:15:25 Darrell that black line is 1 dev level
18:15:38 Kaleb I understand, and the blue?
18:15:55 Darrell thats the highest level from high to low or low to high it reached for the day just for reference
18:15:59 Darrell you can turn it off if you want to… by making it transparent
18:16:10 Darrell in the indicator settings
18:16:10 Kaleb ok
18:16:13 Darrell we leave a lot of things on
18:16:16 Darrell that pepole as they learn how it works eventually turn off that they dont need
18:16:27 Darrell but they help for learning
18:16:31 Darrell and i have found easier to leave on and let you turn off
18:16:32 Kaleb yeah better to learn it all and not use it
18:16:38 Darrell then turn off and let you figure out how to turn on
18:16:45 Kaleb yep
18:16:56 Darrell so with price action (apex pattern)
18:17:03 Darrell expected move (deviations and ranges)
18:17:07 Darrell and volume (magnets, expected vol, spike striker)
18:17:20 Darrell you have the 3 foundational pieces you need to trade on
18:17:27 Darrell the only other piece to really consider is fundamental news releases
18:17:36 Darrell to be aware of them
18:17:56 Kaleb ok cool! thanks a bunch for the help
18:18:16 Darrell there is also “seasonality” but with the expected ranges and expected volume we show you what to expect for that “season” / session of the day
18:18:25 Darrell wider range more volatility expected
18:18:30 Darrell smaller range lower volatlity expected
18:18:37 Darrell how far its expected to move
18:18:41 Darrell etc…
18:18:44 Darrell and even on the ranges - we have the range hi to low indicator at the bottom
18:18:54 Darrell it like the deviation indicator is showing you not just a range move up from open or down from close but a range move from high to low
18:22:01 Kaleb yeah I understand