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femi94ce Nov 1, 2013 10:11pm | Post# 1501

{quote} Like them all, she expects to be paid for revealing trade setups/entries 24 hours after the fact. She offers a 2-week trial period. I signed up for the 2-week trial and decided to NOT sign up for the monthly service. When she asked why, I responded with brutal honesty. All that did was elicit a vindictive tirade the likes of which I have never seen. Expect scorn unless you bow down and worship.
This right here is the problem with all the "gurus".

It's easy to Monday Morning Quarterback a chart.

Being able to see the setups in realtime, as they happen, requires a kind of clarity and mindset that I can only hope, after many years, I have been able to acquire.

I'm trying to cultivate a receptive mindset. I am not smarter than the marketmakers. I do not have access to the information they have. I can't for a moment hope to beat them by being smarter than they are. Fortunately I don't think I have to be smarter than they are. I just need to be smart enough to stay out of my own way.

However, if I am receptive to the information they share through the chart, and if I am patient and wait for them to show me what they are doing, then I can hope to profit. This goes for both trade entry and exit. There's no point in executing a perfect entry and then fluffing the exit.

LAFF

milicentfx Nov 1, 2013 11:00pm | Post# 1502

{quote} On what do you base this remark? Do you know Zen? Have you interacted with him? Although I am not a fan of Zen or his course, I can not judge him until I see an account statement or some verifiable track record. Have you seen his track record? That said, he is actively soliciting memberships to his \"Market Checkdown\" service. I tried it for a month shortly after he started (a few years back) and was not impressed. As for Kim Krompass, she is also offering a \"service\" nearly identical to Zen's. Like them all, she expects to be paid for...

I know, mate.

xen11 Nov 3, 2013 11:52pm | Post# 1503

strikezonetrading wich is the trading course has a excellent webinar on their site
marketcheckdown as a signal service does not interestme more I think it's much more valuable to get training then just signals.
the teachings are similar to SM but it seems better organized and explained.
I have noticed many people have the grey stop hunt boxes indicator I would like more info on how to get it.
thanks

anyone Nov 4, 2013 3:22am | Post# 1504

2 Attachment(s)
strikezonetrading wich is the trading course has a excellent webinar on their site marketcheckdown as a signal service does not interestme more I think it's much more valuable to get training then just signals. the teachings are similar to SM but it seems better organized and explained. I have noticed many people have the grey stop hunt boxes indicator I would like more info on how to get it. thanks
Do you know the correct settings for the boxes after both European and American daylight saving changes? Can any of Steve Mauro's students confirm if below boxes are drawn correctly for EU and GU? Does StrikeZoneTrading or MarketCheckDown use a different template and settings? How are their students doing compared to Steve Mauro's students?
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xen11 Nov 4, 2013 6:40am | Post# 1505

I don't have the boxes so I do not know anything about their settings.
Both of them have a free webinar and templates look similar almost the same exept the way pivot points are shown.
they seem to be a number of pips above and below the light blue box.
did you write create them yourself in mt4 for your template?

FX-Trader Nov 4, 2013 12:05pm | Post# 1506

{quote} Do you know the correct settings for the boxes after both European and American daylight saving changes? {image} {image}
DST doesn't really matter too much it's what Price action is doing. Both Craig Harris and Steve teach Asian range as 1pm, Pre London, but that's really just to see if there is an accumulation phase or not. So look at the price first and foremost.

As for the Grey boxes doesn't matter where they line up, just look for Price action to over-extend into those boxes which are 25-50pips above and below the Asian Range - it should really be used as a "head-ups" potential trade setting up. More active pairs will blow through it though so don't bank on it. Be Smart, always always look at what price is doing everything else is secondary.

Happy Trading

FX-Trader Nov 4, 2013 12:44pm | Post# 1507

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Do a little homework, research, back-test whatever you want to call it, a little common sense testing will tell you a lot. Make a log, then review at a hi level, and don't just focus on one pair, when one is not moving another is, they don't all take vacations the same time. I just took a few minutes to create this for you on E/U.

enjoy!

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femi94ce Nov 5, 2013 6:17am | Post# 1508

{quote} Do you know the correct settings for the boxes after both European and American daylight saving changes? Can any of Steve Mauro's students confirm if below boxes are drawn correctly for EU and GU? Does StrikeZoneTrading or MarketCheckDown use a different template and settings? How are their students doing compared to Steve Mauro's students? {image} {image}
Box settings are 25 pips above the Tokyo channel high and below the channel low. Box is 25 pips deep.

Put the image in your MSPaint program and draw horizontal lines to the right of the top and bottom of each box until the line touches the numeric level indicator at the right of the chart. You can deduce the box parameters from there.

Vertical lines will show you the times. You can pretty much see the entire picture.

LAFF

xen11 Nov 5, 2013 8:19am | Post# 1509

Is the template with the boxes available somewhere ?
thanks

FX-Trader Nov 5, 2013 10:08am | Post# 1510

Is the template with the boxes available somewhere ? thanks
I believe it's in the attachments for this thread. Just click the little paperclip at the top and download all the MT4 files to your Indicators directory, Worktime should be the boxes, not sure how old it is. That version is Freeware as I believe it was recreated by someone in the forum.

xen11 Nov 5, 2013 1:46pm | Post# 1511

Thanks but I already have the times boxes I am looking for the stop hunt boxes above and below the asian session.
It's not in that indicator.

FX-Trader Nov 15, 2013 12:26pm | Post# 1512

Thanks but I already have the times boxes I am looking for the stop hunt boxes above and below the asian session. It's not in that indicator.
Zen has been offering free Friday night sessions, during these he sometimes offers out indicators for free. He's said the stop hunt boxes don't really work anymore so I'd suggest ask him for the indicator. He may just give it to you. He's been a nice guy so far with my experiences.

Trader MT4 Nov 16, 2013 8:52am | Post# 1513

Hello FX-Trader,
I no longer visited this thread. I didn't have success with SM system. Of course, I saw completly videos by SM. How is about your trading with SM system? How are things with SM these days? I didn't chase if he still teaching? regards Dan

FX-Trader Nov 16, 2013 10:42am | Post# 1514

Hello FX-Trader, I no longer visited this thread. I didn't have success with SM system. Of course, I saw completly videos by SM. How is about your trading with SM system? How are things with SM these days? I didn't chase if he still teaching? regards Dan
[highlight=rgba(255, 255, 255, 0)]I've been at it for over 4 years, unsuccessful in the sense a flat to slightly neg equity curve until recently. I finally figured it out. For the first time in several years I have generated a positive upward sloping equity curve. What changed? I got down in the weeds and picked apart the method. I focused on Price first and then used the indicators to help the setups. I became very selective and most important disciplined. These are not traits of the method but more traits of a successful trader. The method itself is not what makes you money it is you who sticks to your game plan and executes flawlessly or at the very least in agreement with your stated goals and objective. I've said many times there are similarities to this method and OTA's they just use different words. Focus on each component, trade each one independent and then review the overlaps - you will see clarity. [/highlight]

Asubio Dec 2, 2013 6:33pm | Post# 1515

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Hi just reviewing this trying hard to learn this method very frustrating , trying demo , do you think this is PFH on EU



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anyone Dec 6, 2013 9:17am | Post# 1516

Hi just reviewing this trying hard to learn this method very frustrating , trying demo , do you think this is PFH on EU {image} {image}
How did you learn this method? From Steve Mauro's videos (sales webinars or leaked 4-days class)? From Zen Alldredge's StrikeZoneTrading or MarketCheckdown? Or from Sterling & Chad's DayTradingForexLive?

If you are picking up bits and pieces from this M&W thread, I rather you learn from an ex-institutional trader sharing his live trades here on FF,
http://www.forexfactory.com/showthread.php?t=455812#71
Greetings all, My name is NV, I spent the best part of 5 years market making FX options at a large sterling institution but made the plunge to go independent 4 years ago. In the last 4 years I have focused solely on the FX spot market. The liquidity in this market makes it a much more viable asset class for independents such as myself. The low spreads, ease of access and the tendency for forex to trend in a predictable manner creates a perfect environment for the correct type of approach to be profitable over a consistent period of time. I started...
TradeExplorer:
http://www.forexfactory.com/nv_trader#71
Myfxbook:
http://www.myfxbook.com/members/nv_t...-trader/749457

Duffgen Dec 6, 2013 9:31am | Post# 1517

{quote} I rather you learn from an ex-institutional trader sharing his live trades here on FF, http://www.forexfactory.com/showthread.php?t=455812#71 {quote}

Who ever you decide is The Guru, believe NOTHING until you see PROOF that the potential leader is consistently profitable. By proof, ask to see a trade book, or their entry somewhere like MyFXBook.com. If a trader is unwilling to show you their TRADING ability and success, then treat them as a cheat. I can tell you I have a winning formula, and boast of my gains, but until you can substantiate my claims, don't believe me.

SO "NV" is an ex-institutional trader? If he was doing so well whilst under the wings of an institution, where there are shed-loads of analysts at his beck and call, why did he give it up?? If he is so successful why on earth is he here at FF??

As for Mauro and his ongoing DMR - what a nice little earner, and after all this time, still no proof he has ever actually taken a live trade!!

Asubio Dec 7, 2013 9:14am | Post# 1518

Hey guys , I learn bits and pieces from everywhere , all the resources guru`s etc from this thread , I shall check this
ex-institutional trader out thanks Anyone ,
Duffgen thanks for the advice , I have been burned many times , so I will take care

It would be nice to be on the other side of that DMR , I mean I could teach it myself in hindsight as i`m sure alot of others here could as well ,

My trade turned out not to be the PFH another trend reset or MM`s taking profit whatever way you look at it I was wrong ,

back to the drawing board .

anyone Jan 9, 2014 10:51pm | Post# 1519

Some discussion about market makers. Read the full thread (with pictures) here, http://www.forexfactory.com/showthread.php?p=7202261

The market can be divided into 2 main players, the Market Maker and the Retail Traders. Something that most people tend to not understand though is that Market Makers aren't simply retail traders with deep pockets.

Instead, the life of a Market Maker is actually very restricted and they are required to follow different set of rules and have different requirements.

Example: Market Makers are legally required to ALWAYS be in the market. This is a restriction that not many traders can live with and it also brings out the requirement for Market Makers to have a lot of money.

Because of this fact Market Makers are in a sense forced to hunt stops on a daily basis. Many retail traders hate this fact, but it is their job.

Now understand what we just said. They are forced to hunt for stops every day. This means that if we can find where they hunt, then we can take advantage of it and ride same ride that the Market Makers are riding.

This is where our method comes in because Market Makers can't hide their activity completely. Their actions naturally create price patterns on the charts that reveals their intent.

How do you find Market Maker Activity From the Chart?
First things first, let's dissect the market a bit.

This is what people call a DOM. Might be the first time many of you guys are seeing this, but it's not complicated as it looks. Now the arrows that you see their points to limit orders. Many people on FX seem to confuse Market Order(Stops) and Limits, but simply put, Limit orders are the walls that prevent price from moving to the next level. You can have 1000000 buy Order, but if there's 1000001 limit orders to block those orders, then the market won't budge an inch.

So Let's do some math. From looking at the DOM, how many market orders does it take At that moment to move price to 120 05.00 (Exclude Other Ideas)? 2320 Buy Orders are required to move the price to 120 05.00


Now this picture was taken during off hours, and normally the limit orders would be in the 1000s, but you guys get the point. To move the market up 10+ Ticks, someone needs to make major market order and most retail traders don't have that kind of bankroll and wouldn't want to take such a bet.

The most likely person to be able to make that kind of order is a Market Maker and this is how you find it on the chart.

Because when you see a the chart moving 10 ticks within 1 min that means that a Market Maker has made his move and the result is a giant bar (Orderflow Gap)

The beauty of these gaps is something that you've all experienced many times in your trading career. You hold on to a position, but the Market swings against you 20 pips. You Panic and start feeling trapped. Eventually you reach a point where you decide to liquidate your position. These are the type of situation that Market Makers want you to be in.

Knowing what is a gap, however, is not enough to trade with an underlying edge. There isn't only 1 Market Maker in the world and there are many reasons why price can form a gap.

So to add more edge to our side, we must incorporate a meta-game approach (after all, the markets are generated by emotion) to be in alignment with our dear old Market Maker pals.

This is what we call a LT Gap (Liquidity Trap Gap)

So let's analyze that situation you see there on the price chart.

1. Buy orders initially push the market significantly in an upward direction. This is the first gap.

2. During this phase many people are believing that the market is ready to turn around and start pressing the buy button. Creating some highs along the way.

3. Market Makers though have different opinion on where price is moving and decides to start shorting the market.

4. With the deep pockets of Market Makers, price gets pushed down and begins to trap the buyers from phase 1

5. This creates huge pressure on the people who bought at the first gap and eventually they liquidate their positions and propels the market to move further down

6. From that point on, the Market Makers have now revealed their true intentions. They didn't like the idea that price was moving above that red box. They preferred it stay below. So what you get is a True S/R.

A S/R that's not based on technical analysis but a true S/R that is based on Orderflow.

Summary: A gap that is closed within the previous gap shows a liquidity trap made by Market Makers.[/color]

Capitulation Gap:

1. Market Forms H/Ls and during these times traders begin placing their stop orders.

2. Market Makers begin to sense that there is more stops and liquidity at the top and begins to hunt for them.

3. During this time the stops begins to fuel more move towards the top side.

4. Gap Creates a S/R Zone and once price hits it, it creates a bounce.[/color]

Summary: Market creates a H/L and traders begin placing stop orders. Once this happens Market Makers start attempting to trigger these stops and once triggered, the stops help propel the market into the Market Maker's wanted price.

Duffgen Jan 14, 2014 12:09pm | Post# 1520

So, Mauro sinks to new lows - he's obviously flogged off the member list as people get wise to the DMR scam:


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