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

The Volume Detective 411 replies

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

  • #1,221
  • May 10, 2019 3:02am May 10, 2019 3:02am
Quoting AntiCre
{quote} Not TZs again
That why I call it dejavu bro..lol

Attached Image (click to enlarge)
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NIH
Dog + Smile = Beautiful Day
  • #1,222
  • May 10, 2019 3:04am May 10, 2019 3:04am
Quoting Nih98
{quote} That why I call it dejavu bro..lol {image} NIH
I got your joke, thus my response
  • #1,223
  • May 10, 2019 3:08am May 10, 2019 3:08am
Quoting robots4me
{quote} That's a question for @George, @moodybot or @bluesteele. But since I'm on a roll I'll add my 2 cents. I don't think they are mutually exclusive. That is, one doesn't necessarily trump the other. They both can occur and probably will. As to which would occur first, that might differ with each setup.
Thanks R4me - though for G, Moody, or Blue to be able to determine to a pip then that pip number is visible to them from historic data available ( I’m guessing the top or bottom of the historic LG.)

We’ve been “barking up the wrong tree” for some time with targets, fractals etc - I’m sure it was good fun to watch from the side!

However - you have interpreted and shared coreinformation which is good. I was also on the gap trail and now we have new revelations from HQ which are always welcome.
  • #1,224
  • May 10, 2019 3:08am May 10, 2019 3:08am
Quoting TopCover
What I’m asking is... if there is an unfilled liquidity gap out to the left (pink band) does the TOP of that band actually become the “target level” - trumping the peak we see slightly lower above our herd zone? {image}
I suggest the herd is incorrectly marked.
  • #1,225
  • May 10, 2019 3:11am May 10, 2019 3:11am
Quoting skyway
{quote} If you scroll further left, there's a giant LG on 7 may. Your question, don't know.
Ruddy iPhone is killing me.... thanks - so we should be mindful of all unfilled LGs out left - a grinder day will kill anyone not paying attention
  • #1,226
  • May 10, 2019 3:12am May 10, 2019 3:12am
Quoting moodybot
{quote} I suggest the herd is incorrectly marked.
Moddy - I literally just bunged that in there on the iPhone without too much care - had to keep on higher timeframe to take screen shot on phone
  • #1,227
  • May 10, 2019 3:15am May 10, 2019 3:15am
Quoting George AUS
{quote} Howdy Steve ,, Great Job sir ,,, Now the next step is the following ,,, Need to create a BOX style ,,, NOT a line ,,,, TO EXTEND INTO THE FUTURE ON THE CHART ,,,, AND KEEPS ADJUSTING ITSELF ,,, EVERY TIME THE PRICE FILLS THAT GAP ,,, Just like i have REDRAWN on the chart i RE POSTED ,,, The reason I say a BOX ,,, ,,, is , TO DIFFERENTIATE BETWEEN TARGETS AND LIQUIDITY GAPS ! ! ! Cause just a BODY on a candle is NOT good enough ,,, LAZY TRADERS ,,, ...
@George -- yes, I agree.

I started coding the indicator this afternoon and what you describe is similar to what I was thinking, but a dynamically adjusting rectangle is harder to code. Keep in mind I didn't even have a codable definition of what constitutes a liquidity gap. So, the first step was simply to see if I could come close to identifying them and get an idea of what people thought.

Also, I had no idea whether or not people would find this interesting or someone would point out that I was way out in left-field. So, I wrote something simple to test the waters. Now that it's clear this is of interest, then I'll try to incorporate your suggestions. I understand the important thing is for it not to get lost in past history -- I'll figure something out.

Also, I'll add an option for manual or auto delete, once a gap filled.

This is much cooler than I thought -- thanks @George.
  • #1,228
  • May 10, 2019 3:20am May 10, 2019 3:20am
R4M your perseverance ceases to amaze me, keep it going, buddy!
  • #1,229
  • May 10, 2019 3:21am May 10, 2019 3:21am
Quoting George AUS
{quote} Howdy Steve ,, Great Job sir ,,, Now the next step is the following ,,, Need to create a BOX style ,,, NOT a line ,,,, TO EXTEND INTO THE FUTURE ON THE CHART ,,,, AND KEEPS ADJUSTING ITSELF ,,, EVERY TIME THE PRICE FILLS THAT GAP ,,, Just like i have REDRAWN on the chart i RE POSTED ,,, The reason I say a BOX ,,, ,,, is , TO DIFFERENTIATE BETWEEN TARGETS AND LIQUIDITY GAPS ! ! ! Cause just a BODY on a candle is NOT good enough ,,, LAZY TRADERS ,,, ...
Thank You Master George for guiding us again...
  • #1,230
  • May 10, 2019 3:21am May 10, 2019 3:21am
Quoting robots4me
{quote} @George -- yes, I agree. I started coding the indicator this afternoon and what you describe is similar to what I was thinking, but a dynamically adjusting rectangle is harder to code. Keep in mind I didn't even have a codable definition of what constitutes a liquidity gap. So, the first step was simply to see if I could come close to identifying them and get an idea of what people thought. Also, I had no idea whether or not people would find this interesting or someone would point out that I was way out in left-field. So, I wrote something...
Thanks Steve for all your hard work...
  • #1,231
  • May 10, 2019 3:32am May 10, 2019 3:32am
Hi all,
I have found somewhere an indicator wich seem to draw what Steve is searching to code. I will attach here. If it helps then great.
Attached File(s)
File Type: mq4 Wide Range Bar.mq4   20 KB | 306 downloads
  • #1,233
  • Edited 4:22am May 10, 2019 3:39am | Edited 4:22am
And also found an indicator wich spots bars with gaps between them. You can use 0.1 pip at min gap size if you want and at extended bars 1 or 2 if you want your chart to stay clean. And G comes from Gap of course
Attached File(s)
File Type: mq4 gSpot.mq4   2 KB | 415 downloads
  • #1,235
  • May 10, 2019 5:09am May 10, 2019 5:09am
Attached Image (click to enlarge)
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These indicator is great to do multi-time frame studies.
Multi-Chart-Sync (MCS) - place 1 object on 1 chart it will appear in all charts, help to fine tune your placing of square and line.
simultaneously scroll multiple Time Frame on MT4
Chart Study Profile Manager - overlay your TMA fast TMA, etc for comparison

All available in FF.
  • #1,237
  • May 10, 2019 5:28am May 10, 2019 5:28am
Liquidity gaps currently on M15 GBPJPY are stacked.

assumption - as the market is fractal, the position on larger TFs all the way up to monthly will overlay and impact. All of this adds to the road map, to determine where the MM might be focusing its attention.

Just in in my opinion.
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  • #1,238
  • May 10, 2019 7:50am May 10, 2019 7:50am
COMBINING TOOLS for PROFITABLE TRADING - ANATOMY OF A TRADE

There are too many tools presented us regarding MM Psychology and how to trade it. I'd like to show you my thinking process regarding a recent trade opportunity on GBPUSD by combining these tools. Hope it helps anyone understand how to use price action, different time frames and most importantly the value behind learning how to trade professionally. Of course all credit goes to George (what I am going to show you will not be necessarily how George trades (to be honest I don't know how he trades), just an interpretation).

Open your GBPUSD chart, time frame H4, draw a horizontal line at 29/3 low and extend it. Although this line has been violated a few times, I am not deleting it just yet. Then draw another horizontal line at 3/5 low (Don't forget daily, weekly high and lows are important tools). Just 6 pips between them, so consider it as a zone. And start waiting patiently for the price to revisit this area. When it did yesterday (Bar No:1), price also entered the TMA extreme zone which triggers a buy entry. You can use different entry strategies here such as waiting for price to reclaim 3/5 low after clearing the stops below the lines. Stops - depends on your risk profile, a percentage of your account, certain amount of pips from entry (10pips, 20 pips) or whatever suits you. For TP, you can use day's high, mid band on M15 or M1, TMA upper band, partial exit, or targets or gaps as explained extensively.

Will continue on next post.

Regards,
Blackeagle
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  • #1,239
  • May 10, 2019 8:01am May 10, 2019 8:01am
Quoting Blackeagle
COMBINING TOOLS for PROFITABLE TRADING - ANATOMY OF A TRADE There are too many tools presented us regarding MM Psychology and how to trade it. I'd like to show you my thinking process regarding a recent trade opportunity on GBPUSD by combining these tools. Hope it helps anyone understand how to use price action, different time frames and most importantly the value behind learning how to trade professionally. Of course all credit goes to George (what I am going to show you will not be necessarily how George trades (to be honest I don't know how he...
Hey,

Which TMA settings are you using as I had the same zones marked but on my charts, the price didn't reach the TMA extreme zone.
  • #1,240
  • May 10, 2019 8:07am May 10, 2019 8:07am
On this post, I'll show you how to take profit by using liquidity gap (LG) as it's been discussed here since yesterday. Now, after opening a long position, switch to M15 chart, and find the LG (blue shaded area) and put a limit sell order where price closes the gap. In this example, entry was 1.29760 (including spread) and exit was 1.30022 (Bar No.2) for a profit of 26.2 pips for almost with no drawdown. You could also use day's high (Bar No.3) for TP.

Will continue on next post.

Regards,
Blackeagle
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