Building on from Part 1.
This lesson digs deeper into how you can use Igor Time to trade sessions, as each new session starts on 'Igor Time'.
Consider Igor Time as a period within the trading day when significant volatility occurs, significant enough to make it tradeable.
In short Igor Time highlights incoming volatility.
This strategy can not be traded blindly as 'Igor Time' will not indicate the direction of the market. It is up to you to bring in additional context and calculate the probability.
When you find yourself in a position where the direction is indecisive, the common protocol would be; to wait for the volatility injection and watch the market reaction.
This lesson will provide you with examples and expansion from Igor Sessions Part 1.
IMPORTANT NOTE: Igor Times are NOT the same as Global Opens.
Time Stamps
1:49 – IGOR TIME
- There are 4 Igor Sessions in a day
- Each new session starts on ‘Igor Time’
- Igor Time is when volatility / a volume injection happens
- Igor Sessions are always at the same time
- At the start of each session, we look for a ‘major move/pivot’ to be put in
- Being able to read the context of the market is of utmost importance (Igor Time will not tell you the direction of the move)
6:32 – EXAMPLES
14:24 – IGOR TIME
- Igor Session Times are different than the standard London, New York and Asia time opens
- Igor Times are from statistics gathered on where there is most volatility at set points during the day
- Igor Times are subject to change should there be a new pattern emerge (just like the most volatile day is Wednesday)
- Igor Time is different to Fibonacci time
- Fib time is used to predict a move weeks in advance while Igor Time is used on the intraday basis
- It is possible to use them together – for instance, you have a date from Fib time and then use Igor Time for the move in that daily pivot
- To predict the direction of the move you have to read the context correctly. If you cannot, then simply wait for the move to happen and then trade the reaction
- The most common moves that happen on Igor time are SFPs or the start of a major squeeze/move as volume is injected by the larger traders
- Also, the moves do not happen on every Igor Session
- Generally, the most volatility happens on Igor Session 3
- Daniel’s scale of most to least favourite sessions: 3, 2, 4, 1 (though they are all good and all get moves)
31:55 – Q&A
- Daniel does not use IB in these sessions but Igor does
39:15 – SUMMARY
40:26 – Q&A