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Money management: Capital needed per 0.07 USD per microlot 0 replies

The Volume Detective 411 replies

Attachments: (binned per thread starter’s request) MM (Money Maker) Detective
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(binned per thread starter’s request) MM (Money Maker) Detective

  • Post #721
  • Quote
  • Edited at 4:30pm May 4, 2019 4:18pm | Edited at 4:30pm
Quoting robots4me
{quote} @TopCover -- nice chart and easy to read explanation -- thanks. So, how would you trade this? Since all this "dancing" occurs in the middle of the TMA then my inclination is to pass and wait for something simpler that doesn't require so much interpretation. @moodybot has mentioned this a number of times and it's the approach I'm currently using -- I'll wait for the price to re-enter my TMA. @moodybot explains this is where the MM shows his cards.
@RickM explained he uses the Line Chart analysis
not as his primary setup but, rather,...
Robots4me said Why not move on to another pair.

Answer - I have sat in meetings with George and I can tell you he’s taking a trade every 5 minutes if he chooses just by following price action and he’s nailing those trades all night long. I am talking 200 pips in a couple of hours.
He is not just trading his spikes on the 1 minute chart but keeping his green pips turning over all night. That’s
because he’s a master of this game.

The reason I take trades using the line graph and trade off these optimised trend line on the candle close is to
continue my own studies on price action movement and to allow for a second source of trading income. It fills
by trading account with around 100 pips a day.
However I trade as my primary method George’s TMA method using his TMA one minute settings.
They are an incredibility precise and indeed more profitable than the line studies will ever become.

I also have no dog to walk.
Trading thin liquidity at the boundary of the charts
Quoting RickM
{quote} Robots4me said Why not move on to another pair. Answer - I have sat in a meeting with George and I can tell you he’s taking a trade every 5 minutes just by following price action and he’s nailing those trades all night long. I am talking 200 pips in a couple of hours. He is not just trading his spikes on the 1 minute chart but keeping his green pips turning over all night. That’s because he’s a master of this game. The reason I take trades using the line graph and trade off these optimised trend line on the candle close...
RickM.

First, I respect and always re read your posts. Thank yo for always as far as I can see contributing and positive demeaner.

I quoted your post as an up coming trader. (I am taking that trade with me now. LOL)

Reason I quoted your post was the following. @George gave us, meaning who ever was reading his thread, tit bits and a desire to understand was given. Nothing more. LOL Accept for a winning combination of basics.

Unfortunately the tit bits are only the basics and more than enough to make a dreamer a successful trader.

What I have realized in a very short time spending a lot of time on testing theorizing etc. Was that WE want to trade like George. No problem with that, but without the xxxh of study and understanding the market we or I will not be able to that.

I have difficulty with all the ease of trades expressed by so many accomplished traders. It fuels a desire in me to keep on searching. For setups, strange behavior.... etc. Completely took me off track from the basics.

See the ease and understanding for instance Moodybot (Andy) is taking his trades. It is only basics.. I think within the first pages of George`s thread.

My whole point being, we are over complicating the whole thing. Accept if the reason is to solve the algorithm.

Mouth full sorry and hopefully will fuel someone elses ideas like the rest of you guys do. Thanks

Herman
Quoting RickM
{quote} Robots4me said Why not move on to another pair. Answer - I have sat in a meeting with George and I can tell you he’s taking a trade every 5 minutes just by following price action and he’s nailing those trades all night long. I am talking 200 pips in a couple of hours. He is not just trading his spikes on the 1 minute chart but keeping his green pips turning over all night. That’s because he’s a master of this game. The reason I take trades using the line graph and trade off these optimised trend line on the candle close is to continue by...
Quote
I also have no dog to walk.
You don't know what you're missing -- just ask @Nih98

Okay -- so I take it @George trades one pair (probably GBPJPY) and gets his fill of trades by trading spikes on the M1 chart. I think I sort of knew that before, but now it's more clear.

But here's the deal -- I ain't @George. There's no way I'm going to earn 200 pips trading M1 -- on one chart or 100 charts. However, trading 28 pairs on M30 I do okay. I would like to follow @George's way more closely -- but I currently do not have the skills and I am NOT going to study more charts for months or years before opening my next trade. And it's not because I'm lazy -- it's just not the way I learn. It's the way @George learned, but I learn differently.

So -- my inclination now is to follow @George's approach of identifying target levels and using the TMA to help me see when the MM exposes its hand -- but I'll deviate from @George by also trading 28 pairs. As I've mentioned before, using @cja's dashboard makes this easy -- all from one chart. And, seriously, all charts look the same to me -- from a distance I can't distinguish M1 from D1. I understand that opening a position from M1 keeps you in better touch with what is happening now, but after the MM has made it's move and the price has re-entered your TMA, then M30 seems to work well enough -- at least in my hands. And then every few hours -- just before bathroom breaks -- I'll flip through 28 pairs and check for TMA re-entrancy. Takes about 5 minutes. Oh, yes, one additional note -- I don't like staring at a screen and watching the price action, so I'll use TP for exits -- between 10 - 20 pips. Often, in hindsight, it's embarrassing to see how many pips I left on the table. But most days it works out well. I suspect @George might have a few thoughts about the use of TP.

Sort of a side note -- I still trade portfolio EAs -- dozens of strategies per EA. But each morning when I first check my accounts I have to hold my breath because the results could be very nice or not so nice. But with @George's method -- or my hybridized version of it (@George might be more blunt and call it a bastardized version) -- I find it much more comfortable. Yes -- I'll lose trades -- but I'll review why a trade failed and learn from it. @George's approach is more comfortable to me because I know it will work next time. With EAs, their performance comes and goes -- and, to be clear, the EA is fine. But EAs are calibrated against a particular data horizon and when market patterns change then the EA performs poorly. This requires continuous recalibration of the EAs settings. But with @George's methodology it's always the same -- he can trade any pair, any time frame at any time -- looking for the same clues and using the same (discretionary) rules. That's what I would like to be able to do -- or, at least, partly be able to do.
Quoting RickM
{quote}However I trade as my primary method George’s TMA method using his TMA one minute settings. They are an incredibility precise and indeed more profitable than the line studies will ever become.
You have not answered the question.

Since George method is superior to yours, what stops you trading other pairs besides GU and GJ ?

Why waste time with your inferior method when you can be much more profitable trading George method with other pairs ?

Moodybot trades AJ.
Quoting RickM
{quote} Top Cover is spot on with his example with a trap being set for both buyers and sellers within the same move. The intent of the MM is indeed seen in the line chart and the trade we should take is where the trap has just been executed.
Cheers RickM - I've spent a few very enjoyable hours today looking at this method alongside studying the herd! George has opened a fascinating area of study which has many many moving parts and which would have remained hidden to many of us - so full kudos to him. Also to you Rick for your own generous explanations, context and participation in Robot4me's thread! Appreciated!

Ray
Quoting robots4me
{quote} {quote}So -- my inclination now is to follow @George's approach of identifying target levels and using the TMA to help me see when the MM exposes its hand
Since you have skyped with George, you will know enough. For starters, what exactly is target levels ?
Is herd validation zone mean the same thing ?
Demonstrate on a chart of whatever pair you chose pls. Thank you.

I'm sure a lot of readers will want to know as well.
Quoting Voelhok
{quote} RickM. First, I respect and always re read your posts. Thank yo for always as far as I can see contributing and positive demeaner. I quoted your post as an up coming trader. (I am taking that trade with me now. LOL) Reason I quoted your post was the following. @George gave us, meaning who ever was reading his thread, tit bits and a desire to understand was given. Nothing more. LOL Accept for a winning combination of basics. Unfortunately the tit bits are only the basics and more than enough to make a dreamer a successful trader. What I have...
@Herman -- nice post. I didn't see yours before posting mine. I think our sentiments are very similar.

By the way -- there's no need to edit your post -- but just to let you know your use of 'tit' for 'tid' might send some guys into a tizzy and start thinking of things other than trading. Which is fine -- it's not healthy (nor human) to only think about trading.
Quoting skyway
{quote} Since you have skyped with George, you will know enough. For starters, what exactly is target levels ? Demonstrate on a chart of whatever pair you chose pls. Thank you. I'm sure a lot of readers will want to know as well.
@skyway -- good question -- and thank you for taking the risk of asking it. There's all this terminology thrown around and I'm glad to learn I'm not the only one who sometimes struggles with it. That's why I like seeing screen shots with arrows pointing at things and lots of text.

I'm feeling lazy -- so, let me try to answer without a chart. If it's still not clear, then I'll follow-up with a chart.

My understanding of a "target level" is a TOP or BOTTOM line -- that's it. I could substitute "target levels" with "TOP and BOTTOM lines". To me they're equivalent. "Target levels" sounds more sexy, though, right? If I say TOP and BOTTOM lines then everyone knows I'm a newbie. But if I say "target levels" then everyone thinks, whoa, this dude really knows what he's saying. You see, the key here is to describe things in ways and terminology no one understands. Since we all suffer to some degree from insecurity, then we'll assume if we don't understand something it must be because the other guy knows more than us. Of course I'm only joking -- but there is some truth to it.

As for Herd Validation Zone -- I'm less sure, but I'll take a stab. I understand this to be the area between a TOP / BOTTOM line and the price chart -- i.e. an area (usually represented by a rectangle) of support (below the price chart) or resistance (above a price chart).
Quoting robots4me
{quote} @skyway -- good question. There's all this terminology thrown around and I'm glad to learn I'm not the only one who sometimes struggles with it. That's why I like seeing screen shots with arrows pointing at things and lots of text. I'm feeling lazy -- so, let me try to answer without a chart. If it's still not clear, then I'll follow-up with a chart. My understanding of a "target level" is a TOP or BOTTOM line -- that's it. I could substitute "target levels" with "TOP and BOTTOM lines". To me they're equivalent. "Target levels" sounds more...
I seriously think we need help from Kevin, Andy, Peter or George himself about this. A chart from anyone of this esteem panel of traders that demonstrate this is what everyone is looking for.

Pls don't respond with the skype thingy.

Time to walk the dog.
Quoting robots4me
{quote} @skyway -- good question. There's all this terminology thrown around and I'm glad to learn I'm not the only one who sometimes struggles with it. That's why I like seeing screen shots with arrows pointing at things and lots of text. I'm feeling lazy -- so, let me try to answer without a chart. If it's still not clear, then I'll follow-up with a chart. My understanding of a "target level" is a TOP or BOTTOM line -- that's it. I could substitute "target levels" with "TOP and BOTTOM lines". To me they're equivalent. "Target levels" sounds more...

ZONES:
 Herd mentality support/resistance Validation Zones (vz).

 There are Strike Zones (sz) above/below vz.

 Inside sz are tma Pressure Zones (pz) from which entries are taken.

 Trades are based on Target Zones (tz) on higher time frames.
I will provide a PDF summary from George he's posts (uploaded by another FF member) when his thread was only around 30 pages or so. This PDF is absolutely filled with gems!
Attached File
File Type: pdf George Summary v1.1 (2).pdf   630 KB | 364 downloads
Quoting robots4me
{quote} @skyway -- good question -- and thank you for taking the risk of asking it. There's all this terminology thrown around and I'm glad to learn I'm not the only one who sometimes struggles with it. That's why I like seeing screen shots with arrows pointing at things and lots of text. I'm feeling lazy -- so, let me try to answer without a chart. If it's still not clear, then I'll follow-up with a chart. My understanding of a "target level" is a TOP or BOTTOM line -- that's it. I could substitute "target levels" with "TOP and BOTTOM lines". To...
The poster above just told us there's pz, sz, tz, vz.
So many z.....

What were you talking to George on skype ???
Take the dog for a longer walk.
  • Post #733
  • Quote
  • Edited at 6:00pm May 4, 2019 5:49pm | Edited at 6:00pm
Quoting skyway
{quote} I seriously think we need help from Kevin, Andy, Peter or George himself about this. A chart from anyone of this esteem panel of traders that demonstrate this is what everyone is looking for. Pls don't respond with the skype thingy.
This works for me....

For targets I use Robot's indicator which shows the likely lines and that works for me. In terms of what they are zoomed out I've tried to show examples drawn by hand in the chart. The thing is we don't know if the price will necessarily stop at a line - that's where we watch the extremes noted by TMA's on the M1 charts. Then we see reversals occurring and jump in with either single or basket trades.

Now one thing I think confuses peole - Targets are not lines we trade TO. We wait and trade back FROM them towards the herd zone....

Sometimes Herd zones set up on BOTH sides of the price action and the MM creates a situation where stops on BOTH sides are taken out. I call that a double whammy

Now I'm NOT AN EXPERT but this is actually working for me....

Purists will say "Ray you've got that wrong" but if that's the case lets bring on the education for all of us compadres in this great game.....

Ray

EDIT: PS Another important aspect is what the ADR is for the pair you are looking at. You can see how far it has travelled since open in a day and be able to determine how far it is realistically likely to go....
I've also missed a couple of targets on the pic but you get the drift - as Robot says "Good Enough?" to get the drift in quick pic.

Second EDIT: You guys got the Dummies Guide books in your Countries? ( Dummies Guide to Basketball, Dummies' Guide to Windows etc?) - We need the Dummies's Guide to Herd Validation!
Attached Image (click to enlarge)
Click to Enlarge Name: targets.png Size: 51 KB
Quoting LongBTC
{quote} ZONES:  Herd mentality support/resistance Validation Zones (vz).  There are Strike Zones (sz) above/below vz.  Inside sz are tma Pressure Zones (pz) from which entries are taken.  Trades are based on Target Zones (tz) on higher time frames.
Thanks LongBTC. Is it possible to demonstrate on a chart one example of each of these zones ? Thank you.
Quoting moodybot
{quote} My post showing AJ has herd mentality and a target drawn onto it. It isn't that difficult to spot. Herd validation is not the same thing as a target as both are defined by prearranged action by the algo (MM). And defined is the keyword. George can quite comfortably show, without pre planning or cherry picking, targets that MM takes price to, exactly. You would not naturally spot the targets. The MM can also use a target and start to set herd mentality from it, sometimes by stopping 0.3 pips to validate the move. George's demonstration with...
Hi Andy, can you demonstrate on a chart with clear markings of pz, sz, tz, vz what the above poster means ? Thank you.

On robots4me thread, no skype pls.
Quoting skyway
{quote} Thanks LongBTC. Is it possible to demonstrate on a chart one example of each of these zones ? Thank you.
Please look at the provided PDF that I uploaded.
Quoting TopCover
{quote} This works for me.... For targets I use Robot's indicator which shows the likely lines and that works for me. In terms of what they are zoomed out I've tried to show examples drawn by hand in the chart. The thing is we don't know if the price will necessarily stop at a line - that's where we watch the extremes noted by TMA's on the M1 charts. Then we see reversals occurring and jump in with either single or basket trades. Now one thing I think confuses peole - Targets are not lines we trade TO. We wait and trade back FROM them towards the...
Thanks TopCover. That's what I was seaching for, the official dummy guide.
Quoting skyway
{quote} Thanks TopCover. That's what I was seaching for, the official dummy guide.
.... and I'm just waiting for an artillery strike. Tin Hat is on with chin-strap fastened....
Quoting skyway
{quote} The poster above just told us there's pz, sz, tz, vz. So many z..... What were you talking to George on skype ??? Take the dog for a longer walk.
@skyway -- don't forget about zzzzzzzzzz. For me, this is the area on the chart between 2a - 9a -- any pair, any time frame.
Quoting TopCover
{quote} .... and I'm just waiting for an artillery strike. Tin Hat is on with chin-strap fastened....
@TopCover -- it's still early morning in Australia. But from satellite photos it appears the missile silos are slowly opening... About the tin hat, that may not help much -- different time, different war...
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