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  • #2,241
  • May 24, 2018 1:05am May 24, 2018 1:05am
Quoting OAPDave
{image}
Yes and then you would need to drop down much lower for viable trade entries.

Masterrmind.............
Master your Mind then Master your Trades
  • #2,242
  • May 24, 2018 1:14am May 24, 2018 1:14am
Quoting Masterrmind
{quote} Yes and then you would need to drop down much lower for viable trade entries. Masterrmind.............
We know the conditions that cause a chart shift ( a close 2/8th into the next Octave) so as i see it the Octaves i have shown are the past, present, and future therefore you can if required trade off the minor octaves or as you say zoom down again ?
  • #2,243
  • May 24, 2018 1:16am May 24, 2018 1:16am
Quoting Masterrmind
{quote} Anything is possible. {image} The bulls are still away on vacation only a few hard core bulls in the room at the moment but the weight of the bears is tiring them out ! Lets see ! ps. If price can manage to make its way back up near entry level I'll drastically reduce the current stop. Masterrmind.............
Masterrmind

may I suggest this reading
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  • #2,244
  • May 24, 2018 1:34am May 24, 2018 1:34am
Quoting parisboy
{quote} Masterrmind may I suggest this reading {image}
Something like this ( just a guess at your numbers)
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  • #2,245
  • May 24, 2018 1:42am May 24, 2018 1:42am
Quoting OAPDave
{quote} Something like this ( just a guess at your numbers) {image}
OAPDave

the general idea is to have a stable scaling or stable during a significative period (according to your sentiment and the time unit used).

Then you observe the Price fluctuation , classify them and infer "trading rules"

Moving the scale of your chart (whatever the scale is) at first glance is very similar to overfitting a curve after action.
  • #2,246
  • May 24, 2018 1:45am May 24, 2018 1:45am
My effort with a fixed 244 octave
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  • #2,247
  • May 24, 2018 3:35am May 24, 2018 3:35am
Quoting OAPDave
{quote} We know the conditions that cause a chart shift ( a close 2/8th into the next Octave) so as i see it the Octaves i have shown are the past, present, and future therefore you can if required trade off the minor octaves or as you say zoom down again ?
Yes in reference to lower TF trading.

D1 is a little different although nothing wrong with using confluence in chart structure on lower or higher TFs at the time of entry.

Masterrmind.............
Master your Mind then Master your Trades
  • #2,248
  • May 24, 2018 3:39am May 24, 2018 3:39am
Quoting Masterrmind
{quote} Yes in reference to lower TF trading. D1 is a little different although nothing wrong with using confluence in chart structure on lower or higher TFs at the time of entry. Masterrmind.............
Masterrmind do not forget why i like Manual vs Auto, reason i can control chart shifts and they stay constant on all time frames
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  • #2,249
  • May 24, 2018 3:43am May 24, 2018 3:43am
Quoting parisboy
{quote} Masterrmind may I suggest this reading {image}
Aligning the PA on the chart with the MML design is a fine idea.

Plenty of possibilities.

One of the reasons I coded up a little MML-Fib tool so I can align it with the PA on the chart via setting any desirable 0/8 and 8/8 prices.

One thing that you can never guarantee and that is to have no DD.

Start with small volume with biggish stops and pile into the instrument under favorable conditions such as price breaking up above entry level after a pullback against you.

Ofcourse the option is always there to reduce the stop sizes and take multiple stabs at an entry but each to their own.

I may also place an additional entry in the same direction as the initial one and at the same volume to erode the floating P&L middway back to the entry level but I'm not at the point in the current GBPUSD setup just yet.

Masterrmind..............
Master your Mind then Master your Trades
  • #2,250
  • May 24, 2018 3:46am May 24, 2018 3:46am
Quoting OAPDave
{quote} Masterrmind do not forget why i like Manual vs Auto, reason i can control chart shifts and they stay constant on all time frames {image} {image}
Yes the manual approach to placing MML Grids is a treasured tool to have in ones tool box.

It opens up complete freedom to analyze the charts under your own terms and select a range that is more in alignment with your own analysis.

Masterrmind..............
Master your Mind then Master your Trades
  • #2,251
  • Edited 6:36am May 24, 2018 5:49am | Edited 6:36am
Quoting Masterrmind
{quote} Aligning the PA on the chart with the MML design is a fine idea. Plenty of possibilities. One of the reasons I coded up a little MML-Fib tool so I can align it with the PA on the chart via setting any desirable 0/8 and 8/8 prices. One thing that you can never guarantee and that is to have no DD. Start with small volume with biggish stops and pile into the instrument under favorable conditions such as price breaking up above entry level after a pullback against you. Ofcourse the option is always there to reduce the stop sizes and take multiple...
Masterrmind and OAPDave

you should read this book, The Quarters Theory

the methodology is very close from Murrey's Methodology

It can be of interest for you both

there is a thread on the subject on FF

https://www.forexfactory.com/showthread.php?t=567962
  • #2,252
  • May 24, 2018 6:36am May 24, 2018 6:36am
Quoting parisboy
{quote} Masterrmind and OAPDave you should read this book, The Quarters Theory the methodology is very close from Murrey's Methodology It can be of interest for you both
Thanks for a very quick response it is appreciated.

Best option is perhaps to direct traders by way of a title and allow them to take it further if they so wish.

A good read by the way apart from the inclusion of MA's... ha ha !

Masterrmind...........
Master your Mind then Master your Trades
  • #2,253
  • May 25, 2018 4:15am May 25, 2018 4:15am
Quoting OAPDave
With the (Other Indicator) {image}
I think the approach of selecting a manual 0/8 MML and 8/8 MML for the MML Grid based on a clear swing low to a clear swing high is a great approach.
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If the MML Grid is too large for your trading preferences then realign it by selecting 'appropriate' and 'smaller' swing highs and swing lows.

If you want to see more PA simply apply the same 0/8 and 8/8 prices but use a much lower TF eg dropping from a D1 down to an M15.

I'm assuming that your plan with the multiple MML-Fibs shown on your chart is to choose the 'best' one to trade based on your preferences/criteria.

Masterrmind.............
Master your Mind then Master your Trades
  • #2,254
  • May 25, 2018 5:08am May 25, 2018 5:08am
Will catch up over the weekend time permitting.

Off to rest now I'm afraid.

Have a great weekend everyone.

Masterrmind.............
Master your Mind then Master your Trades
  • #2,255
  • May 27, 2018 5:24pm May 27, 2018 5:24pm
GBPUSD [D1; MT5 Demo]
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Full setup to the long side !

1 at market entry.
Several pending Buy Stop orders.
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CLS within the lower extreme zone.
PLS above the lower extreme zone.

If price drops through the floor and were to hit the 1.29500 level about a 5% loss would occur so its slightly higher risk per trade on this demo.

Let it play out but monitor it.

ps. I will re-visit this setup at a much later time to report on the final outcome including the gain in Equity.

Masterrmind.............
Master your Mind then Master your Trades
  • #2,256
  • May 29, 2018 3:44am May 29, 2018 3:44am
Just playing Range expansion today
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  • #2,257
  • May 29, 2018 5:58am May 29, 2018 5:58am
Quoting OAPDave
Just playing Range expansion today {image}
Yes there is plenty going on in the markets so being very careful and strict on money management is the name of the game.

Masterrmind.............
Master your Mind then Master your Trades
  • #2,258
  • Edited 5:22am May 30, 2018 3:19am | Edited 5:22am
Over my time trying to learn about this game i have read and collected a shed load of articles in my quest to earn a few golden nuggets, thought this might be of some interest, please look at the dates mentioned and see if you think it is relevant to the present, its the reason i always keep banging the drum about range.
New Highs and New Lows
One of the most important things the market can do during a trading day is to continue along the path hitting either new highs or new lows for the day ( they almost never continue doing both during the same day) Table 1 has so much data worth interpreting, I could write an entire 300 page book just talking about it, but what i want to emphasise here is the size of the range, the value of the 20 day moving median of the range, and the median of the open from either the high or low
Table 1
goes back to the start of Dec 05 GBP- USD futures contract, when it became the front month after the expiring Sept 05 contract , I have this data back to about the start of 2000 and when you look at the values for these other periods they are very close to what i have presented in table 1

It's very clear from the data that you can make the following conclusions:
A) Excluding pre - holiday trading, the range for the day has a 90% + probability of being 100 pips about a 70% probability of being 120 pips and about a 50% probability of being 135 pips
B) There is approximately a 75% probability that once the market moves farther than about 45 pips from the OPEN, it isn't coming back
C) There is a 50% probability that when the market goes past 30 pips from the OPEN it isn't coming back

Know this will prevent you from trying to pick Tops and Bottoms and getting hurt

This was written by a guy called Vegas a long time ago, how much relevance today ?
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  • #2,259
  • May 30, 2018 4:15am May 30, 2018 4:15am
Update
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  • #2,260
  • May 30, 2018 5:50am May 30, 2018 5:50am
Ok so we have seen some stats (relevant or not) but we still need to have an idea if the trade will offer up any green pips, so just may be an idea to check the Big Picture to see if we are trading with or against the Trend and look for any stumbling blocks we need to overcome ?
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