Regards,
Blackeagle
(binned per thread starter’s request) MM (Money Maker) Detective
- #542
- May 2, 2019 4:29am May 2, 2019 4:29am
- Joined Dec 2017 | Status: Trader | 4,378 Posts
I've updated the MM Detective MTF-HLF indicator to include a new feature -- toggling the status of target lines at the different time frames. I had intended to include this description in post #1, but the forum software complained that post #1 already had the max number of attachments. So, the description needs to go here.
Along the left-hand side, where there used to be a color legend, there are now buttons for each of the eight time frames. Each time you press a button the state of the corresponding target lines will change. The target lines for a particular time frame can be in one of 3 states:
(1) Default -- "Alive" and "Dead" lines are shown.
(2) No Delete -- i.e. no removals or take-outs. The line is drawn from its starting point all the way to the right-hand side of the chart.
(3) Ignore -- the line is not drawn at all
The visual cue as to the current state of time frame's target lines is the button. In the 'No Delete' state the button is longer than when in the 'Default' state. When in the 'Ignore' state the button's color is a drab, olive green. If you play with it for 30 seconds I think it should become clear. Below are 3 screen shots with brief descriptions.
I intend for there to be more to this feature in the near future. As @bluesteele, @moodybot and @George have alluded to, it is not always correct to "take-out" target lines -- i.e. in certain situations they should be allowed to run. As the indicator evolves, I hope to develop a set of rules that better define when target lines should or should not be deleted.
Along the left-hand side, where there used to be a color legend, there are now buttons for each of the eight time frames. Each time you press a button the state of the corresponding target lines will change. The target lines for a particular time frame can be in one of 3 states:
(1) Default -- "Alive" and "Dead" lines are shown.
(2) No Delete -- i.e. no removals or take-outs. The line is drawn from its starting point all the way to the right-hand side of the chart.
(3) Ignore -- the line is not drawn at all
The visual cue as to the current state of time frame's target lines is the button. In the 'No Delete' state the button is longer than when in the 'Default' state. When in the 'Ignore' state the button's color is a drab, olive green. If you play with it for 30 seconds I think it should become clear. Below are 3 screen shots with brief descriptions.
I intend for there to be more to this feature in the near future. As @bluesteele, @moodybot and @George have alluded to, it is not always correct to "take-out" target lines -- i.e. in certain situations they should be allowed to run. As the indicator evolves, I hope to develop a set of rules that better define when target lines should or should not be deleted.
- #543
- May 2, 2019 4:46am May 2, 2019 4:46am
- Joined Jul 2015 | Status: Trader | 2,299 Posts
I've updated the MM Detective MTF-HLF indicator to include a new feature -- toggling the status of target lines at the different time frames. I had intended to include this description in post #1, but the forum software complained that post #1 already had the max number of attachments. So, the description needs to go here. Along the left-hand side, where there used to be a color legend, there are now buttons for each of the eight time frames. Each time you press a button the state of the corresponding target lines will change. The target lines for...
- #548
- Edited 6:32am May 2, 2019 6:14am | Edited 6:32am
- Joined Dec 2017 | Status: Trader | 4,378 Posts
{quote} I would like to correct you... Not naysayers at all my friend... Quite the opposite... What you don't realize is we have been involved in the markets for over 60 years combined... Don't you think we've looked at every single thing that has been mentioned in this thread And yes I even had The Trident Trading strategy... Forgive me tho... That was in 1999... So no were not naysayers... But I can can say with 100% certainty you guys are going down the wrong path with these lines... Been there done it umpteen times... And sat with many traders...
Hi Robot Can I say that i think there has been some misinterpretation regarding the feelings from the guys on Georges thread regarding your indicator. I don't think anybody has a single issue with an indicator being made or made in response to Georges method. The indicator looks to draw the lines in a correct manner which is great. What it cannot show though is traders discretion when deciding whether to keep or remove a line. This can be really important. Also, more importantly, it cannot explain to a trader why a level may have had price action...
@bluesteele -- you recall it wasn't so long ago we were exchanging insults over FxCyborg and I was getting suspended every few days
And here, a couple of months later, you gave me the space to lay into you and you didn't return the favor. Sir -- you've grown, and I haven't.Gentlemen -- with regards to indicators -- I get it -- really -- at least I think I do. As a trader I am not in your class. Not even close. But the funny thing is, I'm not really convinced I need to be in order to succeed at forex. I don't question your methodology or approach. Whatever you say or claim, I'll agree with, 100% -- with one exception -- that there is only one way to approach this. Actually, there is a second thing -- that one must first achieve full understanding of MM psychology before considering the use of additional tools. That I wouldn't agree with.
I think there may be a couple of issues here that are getting co-mingled and which may have led to a misinterpretation, as @moodybot puts it. I've mentioned previously I do not want to trade like you guys. That is in no way a knock against the way you guys trade. I'm just not interested in drawing lines and waiting for setups. I do listen intently to what you say. This MM psychology thing is very interesting and I do buy into the importance of understanding the how's and why's of setups. But at the same time, if I choose to approach it from a different angle that does not mean I am lazy. You'll claim (I believe) that a tool is useless until you fully understand how the MM works. I disagree. I think tools can be introduced at any point and there will be people who find value and there will be people who screw it up. Look it, I think we would all agree you could dress me up in the finest tennis outfit and place a $3000 racket in my hand -- and when I walk out onto center court at Wimbledon to face Roger Federer things could get pretty ugly. I get it's not the racket -- it's the player. But as long as I understand that and my expectations are realistic, then why can't I play tennis with a good racket? Just as the tool doesn't make the trader, the tool doesn't necessarily "unmake" the trader.
Here's another bad analogy -- suppose I want to dig a hole in the ground. Would you really suggest I first need to learn how to dig with my hands before being allowed to use a shovel? I suspect you'd say an indicator distracts one from really studying the data. That sounds nice -- but there's no evidence that's the case for everyone -- I mean, I've never seen evidence of that and it's certainly not my experience.
I came down on @bluesteele about the nay-saying thing. I think it was because I wanted to make a point and because I get annoyed when someone says I'll fail -- "trust me, I've been there, done it". I'm paraphrasing -- but that's what it sounded like to me. I appreciate the years of trading experience you have. And though I push back -- your words do sink in.
I've spoken a couple times with @George the past two days -- and it's been great. I'm hoping there's some middle ground. We all find forex interesting and challenging and can't talk about it to anyone except here at FF (at least I can't). In the end we all want the same thing. I've written data analysis software that matures with time as rules get added -- and that's what I'm hoping you guys and @George would be willing to help with by providing a few pointers from time-to-time. But not negative stuff like "it's all wrong, it will never work" -- instead, "look for 3 touches within 50 bars and not delete the target line" -- something like that. If you can describe in words what you look for, it can be coded. It won't be as good as manual, discretionary trading -- but it could be "good enough".
Thanks for putting up with the long post.
- #552
- May 2, 2019 6:28am May 2, 2019 6:28am
- Joined Jul 2015 | Status: Trader | 2,299 Posts
{quote} {quote} @bluesteele, @moodybot -- hey, gentlemen, it's me again. I wanted to respond to both of you and I hope you don't mind I'm combining it into one post. @bluesteele -- you recall it wasn't so long ago we were exchanging insults over FxCyborg and I was getting suspended every few days
You are much older than me and wiser. What i understand is (At the cost of generalizing}: People from Price Action Camp (In general} diss the use of Indicators, while rarely people from Indi camp do that to price action.
It looks like we have to make peace with it.Thanks
- #553
- May 2, 2019 6:43am May 2, 2019 6:43am
- Joined May 2010 | Status: Straight line Fest | 3,194 Posts
- #554
- Edited 7:27am May 2, 2019 6:46am | Edited 7:27am
- Joined Sep 2013 | Status: Trader | 1,209 Posts
- #556
- May 2, 2019 6:51am May 2, 2019 6:51am
- Joined Jun 2012 | Status: Trader | 1,106 Posts
Some people say I'm lucky, but the more I practice the luckier I get
- #560
- May 2, 2019 10:26am May 2, 2019 10:26am
- Joined Jul 2015 | Status: Trader | 2,299 Posts
{quote} Hi Moodybot, Entered 3 short trades today in GJ: 10.52:19 EST @ 145.857 10.52:43 EST @ 145.813 10.58:29 EST @ 145.834 All trades hit target @ 145.451 All credit goes to George. I have to admit that nothing beats drawing the lines manually. You feel the pulse of the market. The entries were based on George's theory of the market and they were so precise. I can't believe it is me trading this way. I discovered George towards the end of March 2019 and I haven't had a losing trade since then. To be honest I haven't read all of his post. His...
Really heart warming to see your success...All props to Master George...
Thanks