Power levels trading

[guedesjunior25]

Hi desitrader. The russian spreadsheet are not useless... You dont know how to use it. After the calculation you need to see where the price are right now. Lets see, in my platform the eurusd close on friday 1.44825. This is are or middle price, now you chosse a range with 1.44825 in middle, maybe 200 pips above 1.44825 and 200 pips below its enough. Check in excell that range. Now you can look on Open interest, but just in that range (our day range). The best prices of monday 11/04/2011 are these

 

Call O.I

1,4315 3589

1,4360 2023

1,4405 2627

1,4454 1556

1,4504 2070

1,4554 674

1,4604 1535

1,4654 595

 

Putt

1,4296 1743

1,4346 427

1,4396 38

1,4442 10

1,4487 0

1,4532 0

1,4577 9

1,4622 0

 

Hope that helps.

Edited April 10, 2011 by guedesjunior25

[Guest desitrader]

Do you calculate them daily? I thought we were trying to reverse engineer wizd0m's method which is to calculate once on Sundays for the whole of the coming week?

 

I will send you my levels form next week on so we can corroborate.

 

Btw, I read the russian description of how to use the spreadsheet, it says use the highlighted boxes, which were way off. The way you use it is different and perhaps makes more sense.

[guedesjunior25]

Do you calculate them daily? I thought we were trying to reverse engineer wizd0m's method which is to calculate once on Sundays for the whole of the coming week?

 

I will send you my levels form next week on so we can corroborate.

 

Btw, I read the russian description of how to use the spreadsheet, it says use the highlighted boxes, which were way off. The way you use it is different and perhaps makes more sense.

 

Hi again. Yes i calculate them daily, i do my calculations on asian open, and place in my chart. The yellow highlighted boxes dont match with our daily calculation, just delete them. And i dont know nothing about the wizd0m's method, its strage because the Open interest on options levels changes every day, so the power of a particular price too. I try this , and left the monday calculation the entire week, sometimes work sometimes not.

[Guest desitrader]

I did that too, I left Monday's levels for entire week, but the way wisd0m's method suggests is that, you enter the market, and take profit at 20 to 25 pips. If market goes against you, then average at -25 points, and then set your profit again at 20 to 25 from your average entry. This way, I havent had a single loss, but problem is, I cannot watch the market, so sometimes it goes -30, i cant average, then it comes back up 20 to 25 above what wouldve been average price, then bang goes to stop out.

 

I think if actively traded then only Friday end of day levels should be very valid for First touch throughout the week, as for the rest of the week, the open interest is accumulating, but market maker's breakevens are based on previously sold options.

 

What do you think?

[Guest desitrader]

Is anyone out here stll subscribed to wizd0m's room? so we can corroborate levels? Imagine, you dont have to pay for his room, if you can figure out how he calculated them (which is what we're trying to do here)

[bravester10]

Hi Desitrader,

Have you figured out how the levels are calculated? I recall we were in touch on skype sometime back and had discussed this topic. Please let me know. Thanks.

[f451]

Options level indicator from evolution site

 

http://trading-evolution.com/mt4-indicators/eVOLution-options.1.1.ex4

 

has anyone educated this MT4 indicator - that would be something

[guedesjunior25]

I did that too, I left Monday's levels for entire week, but the way wisd0m's method suggests is that, you enter the market, and take profit at 20 to 25 pips. If market goes against you, then average at -25 points, and then set your profit again at 20 to 25 from your average entry. This way, I havent had a single loss, but problem is, I cannot watch the market, so sometimes it goes -30, i cant average, then it comes back up 20 to 25 above what wouldve been average price, then bang goes to stop out.

 

I think if actively traded then only Friday end of day levels should be very valid for First touch throughout the week, as for the rest of the week, the open interest is accumulating, but market maker's breakevens are based on previously sold options.

 

What do you think?

 

Hi desitrader, i think that we have two diferent systems here, because in my way we need to do the calculations every single day, because the market change, the open interest change, and some news during the week can occur. And 25 pips for a stop loss i think thats good but for a take profit...

 

http://i56.tinypic.com/x45boz.jpg

[guedesjunior25]

has anyone educated this MT4 indicator - that would be something

 

Read the site again, this indicator is FREE.

[f451]

Yes, I know it's free - but it's an ex4 - I want to see the code, so I can tweak it

[guedesjunior25]

Volumes and options levels.

 

http://i54.tinypic.com/2qn2oop.jpg

[guedesjunior25]

Yes, I know it's free - but it's an ex4 - I want to see the code, so I can tweak it

 

Hi f451 here is the code.

 

http://www.multiupload.com/UDWQVDTJAP

[Guest desitrader]

I think we have, but I want someone from his room, so that we can confirm the levels? Are you in his room?

[Guest desitrader]

Hi Desitrader,

Have you figured out how the levels are calculated? I recall we were in touch on skype sometime back and had discussed this topic. Please let me know. Thanks.

 

I think we have, we just need someone from his room, so we can confirm levels. Are you in his room?

[bravester10]

I think we have, we just need someone from his room, so we can confirm levels. Are you in his room?

 

Hi Desitrader,

I know someone who is in his room, but he is a snorty ba$tard and it takes a lot to get stuff out of him, but i can try. Can you tell me how you calculate the levels and also give me some levels for this week and i can start a conversation with that dude to see if he will give me levels from the wisdom room. Thanks bro.

[finex]

Hi every one, Im back with some news. I find in a russian site a guy who sold this options levels method for 800 usd. WTF? But you know guys, i always find for free. Its a excel spreadsheet, just copy of CMEloader dailystatament and paste at the bottom under the old. If someone need help.

 

http://www.multiupload.com/ZZE5KR18A3

 

Hello guedesjunior25:

 

Thank you so much for introducing option levels. I really enjoyed reading all of your posts in this thread. Thank you for keeping this thread alive.

 

I tried to use the CMEloader but it keeps saying no data. And it seems that it's not working.

 

I visited to the +home website to get the settlement but they say that "Terminate support service Daily Settlements Programme and Daily Settlements Loader (DS Loader), she also previously CME Loader" according to google translator.

 

I am curious to know where and how you get the levels and apply them to the excel sheets without CMEloader.

 

Thank you.

Edited April 19, 2011 by finex

[finex]

I found my problem. My problem was date. By default the program gives me year 2010. I changed it to 2011 and was able to get the data.

 

I applied the data to the excel sheet without any problem.

 

I got EURUSD level as the below. (date: 04-19-2011)

 

open level: 1.4363 (It's GMT0 level in my MT4)

current level: 1.4392

 

call put

1.4318 1.4285

1.4365 1.4332

1.4413 1.438

1.4509 1.4473

 

Please, correct me if I got wrong levels.

 

And I think that there is no monthly open interest because it is daily settlements.

 

Is the monthly open interest important for this method? If so, can anyone know where to get monthly open interest?

 

Thank you

Edited April 20, 2011 by finex

[guedesjunior25]

I found my problem. My problem was date. By default the program gives me year 2010. I changed it to 2011 and was able to get the data.

 

I applied the data to the excel sheet without any problem.

 

I got EURUSD level as the below. (date: 04-19-2011)

 

open level: 1.4363 (It's GMT0 level in my MT4)

current level: 1.4392

 

call put

1.4318 1.4285

1.4365 1.4332

1.4413 1.438

1.4509 1.4473

 

Please, correct me if I got wrong levels.

 

And I think that there is no monthly open interest because it is daily settlements.

 

Is the monthly open interest important for this method? If so, can anyone know where to get monthly open interest?

 

Thank you

 

Hi finex, your levels are right. And about monthly open interest, i dont know. Because in or daily Settlements we only have the yesterday O.I and volume. A good indicator that can do this is here http://trading-evolution.com/forum/portal.php. They show you the yesterday volume, week volume, the monthly volume and the contract of the month.

[⭐ musketeer]

Hi finex, your levels are right. And about monthly open interest, i dont know. Because in or daily Settlements we only have the yesterday O.I and volume. A good indicator that can do this is here http://trading-evolution.com/forum/portal.php. They show you the yesterday volume, week volume, the monthly volume and the contract of the month.

thought, using the source... may be preferable

http://www.cmegroup.com/trading/fx/g10/euro-fx_quotes_globex.html

hit the "V" (volume chart)

[guedesjunior25]

Hi everyone, a picture of april 26, 5 A+ setups given us more them 120 pips. We need just follow the rules. We never know if a option price will be a suport or resistence so we wait the price action give us our sign. And this time the option calculation give us prices with final 00 50.

 

http://i55.tinypic.com/2e64s5w.jpg

[⭐ musketeer]

Hi everyone, a picture of april 26, 5 A+ setups given us more them 120 pips. We need just follow the rules. We never know if a option price will be a suport or resistence so we wait the price action give us our sign. And this time the option calculation give us prices with final 00 50.

k, but what are the rules?

[huuu]

Just do this. Delete the old data, and paste the new.

 

http://img35.imageshack.us/img35/8260/optionslevels.jpg

 

Once this is done, from which column is the correct data to be taken? I can't read the russian on the spreadsheet and so can't tell which column to take the new data from?

[finex]

Once this is done, from which column is the correct data to be taken? I can't read the russian on the spreadsheet and so can't tell which column to take the new data from?

 

Hello huuu:

 

I am sharing how I got the power level from the excel sheet.

 

1. I don't know russian either. So what I did was to translate the russian to english by using google translator. copy and paste one by one.

 

2. Once you translate it correctly, look at settle colume. It is currently yp_6 (light blue colored colume. There is yellow highlighted box) Can you find it?

 

* If you don't want to translate it, just use the light blue columes (They are colume I for call and Q for put).

 

3. In the light blue colume find the closest price to the current price. By the way, the open interest columes are C for call and K for put.

 

I believe that you know the rest of the process. Right?

 

Hope this helps.

[finex]

k, but what are the rules?

 

Hello musketeer: Thank you for bring up the question. I also was curious to know what the rules are.

[guedesjunior25]

k, but what are the rules?

 

Hi musketeer, i only trade close to the lines, wait for a price action confirmation, like pinbars, inside bars, outside bars etc... stoploss is behind the support or resistence lines.

 

http://i56.tinypic.com/2a6111d.jpg

Edited April 26, 2011 by guedesjunior25