This trading model is a free open minden version of Steve Mauros guidlines. NOT SYSTEM
Long= Find a W- pattern below - 20-50 pip the Asian channel ( Wellington opening-London opening ) etc
Short= Find a M- pattern above + 20 -50 pip the Asian channel ( Wellington opening-London opening ) etc
We are not talking about rocket sience, but harmonic trading with typical W and M formations. Gartley, Wolf Wave and 1-2-3 + ABCD are welcome as well.
Everyone is welcome to contribute with ideas and indicators etc.
The trading guidlines is taken from Calderons thread:
1) There is a market pattern you can exploit for morning reversal breakout.
2) Accumulation-during Asian session the high and low of the day is set. Positions get built during this time.
3) Stop hunt- false moves against the real direction. Traders jump in and get trapped.
4) The true trend is slow and steady and takes several hours to cap off.
5) End of day- off of high/low back into consolidation where traders get trapped in consolidation paying rollover.
6) They will burn your account and punish you. This is why you should not trade with the retail traders. Try to pay attention to your charts and watch those breakouts from the range..........these are the moves that trap the herd. When the W or M forms-enter going the opposite way.
7) Never trade in the middle of the range. Short off the top of the range(daily high) or go long off the bottom of the range(daily low).
8) You must watch for the M and W formations near the high and lows for these moves. The cycle begins and ends with consolidation usually in the middle of the range where they can keep the buyers and sellers trapped until they come get your stops.
9) Choppy days are created on pairs to handle the crosses. Market makers work the entire board by moving or holding a major pair. This is how they cause fractional disparity.
All the best!
Thanx Calderon. Lets be open minded
Your best freind is the Market Maker not the Herd...
I just wanted to introduce myself here at FF. This is my first post, as I have just joined. My background with forex is approximately 6 months of active trading, and I have traded stocks on and off for approx 5 years. I am yet to be profitable with forex, however have continued to hold my account relatively stable for the last 6 months. I jumped straight into active trading after maybe 1 week demo trading to get use to the workings of the account. Anyway I have viewed Steve's webinar (all 3 of them), and was completely amazed by what was said. I have always been into "conspiracy theories" and therefore easily absorbed everything that he said. My goal was to hopefully earn enough money trading forex purely from the video he showed, and then use that money to pay for his course in the future. As far as my forex ambitions go, I hope to become a full time trader in the future and in a financial position to live freely and happily anywhere in the world. Since viewing Steve's video's I have attempted to squeeze every ounce I could from all three video's, and studied it as much as possible. So far I have had several mildly successfull trades, but most trades do not eventuate into what Steve describes. Hoping to learn his strategy to the fullest. Cheers.
Thank you, Zabana for Stating this thread!
By the way, How to you use the US-index indicator in your trading. In other words, how does it help you to determine when to enter long and when to enter short positions?
I combined the USD_index indicator with MFI+DPO+FiboS for my trading.
It gives me a good signal of Bear/Bull power, but i enter my trades with the DPO, then the MFI alerts when its overbought/oversold.
For the higher timeframes I use the ZUPV84 to find gartley-patterns, just to get the big picture..
What does everyone here thing about the current setup on usd.jpy for a long trade beginning at approx 0500 - 0600 EST at around the 82.05 level?
I'm looking at the GU right now.
Thanks for sharing!
Now, please bear with me: would you show us a chart or from the first one above detail to us how to read a perfect scenario where you would enter short or long positions through their combination, please?
Looks like you entered a sell on a rather bullish looking pinbar.....sortof a bullish pennant pattern now on H1....
patter i would wait for some support,the price settling down,ull never know when its enough for it to go down,price settling into highter ranges,nd also u should know how to read candlesticks and identify stops of major movers on charts
to start strenght is always seen on lower shadow bull bars,
weakness is always seen on upper shadown bear bars
this is a good way to analyse the markets with mw but its not easy,one needs to know all the other ways,unfortunately we all learn it from our mistakes and from starring at the screen all day watching our positions,seeing the formations repeat themselves
MMs Shifting When to do what
Yes I watched Martin's too. All I want is to learn from whomever drop from their table what they will for me to grab and "feed my people"---We will overcome!!!
My frustration at the moment is due to the fact that usually I am not around to enter the trades because of my job, and so on. But I caught one early this morning and I will post a chart to show it soon.
My Foot-Soldier Wining Trade
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