Quote Originally Posted by EB View Post
I did note that Person did not talk of confluence. However, I was unaware until you wrote the below just how much of your system was original to you. Did the senior MM's follow quarterly, semester and annual pivots? Or, is that yours as well?
Yes Bob, that's how it worked back then. The bosses are focusing on quarterly, semester and yearly pivot timeframes, distributing and spreading over time the buying and selling of the houses's long term positions down the hierarchy.
The junior guy doesn't care about any timeframe above daily, he simply receives his volume to buy or sell for the house each day and he tries to optimize the VWAP according to the liquidiy and daily pivots. New institutional intraday orders keep coming in, but they normally don't change much the house's plan of action for its own account.
I guess today this whole process is fully automated in algorithms including all timeframes levels for optimization.
The only thing original from me was simply to follow the logic of weights and cluster strengths within ATR ranges, while everybody else is focusing on individual timeframes. I am trying to trade the collectively most probable setups, not the individual ones.
Billy