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The Volume Detective 411 replies

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

  • #3,021
  • Jun 14, 2019 4:14pm Jun 14, 2019 4:14pm
Quoting nigpig
{quote} But it is not every winning trade that is hedged in this way only 1 in 4 or so that break away from the reversal to continue in trend. Then there will be be a percentage that result in profit. Something I'm trying to evaluate currently. I do admit that it increases complexity.
@nigpig -- I see, thanks. It will be interesting to learn more. If there were well-defined rules to follow then those could be implemented as an algorithm and relieve people from having to deal with the increased complexity.
  • #3,022
  • Jun 14, 2019 4:15pm Jun 14, 2019 4:15pm
Hey guys, another great day for trading. I provide a couple of setups that the MM had prepared for us.
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  • #3,023
  • Jun 14, 2019 4:16pm Jun 14, 2019 4:16pm
Quoting parisboy
A lazy simplistic tool for simplistic lazy traders. {image}
@parisboy -- considering the hard time I gave you in the past, you really are too generous. Thank you.
  • #3,024
  • Jun 14, 2019 4:20pm Jun 14, 2019 4:20pm
Quoting LongBTC
Hey guys, another great day for trading. I provide a couple of setups that the MM had prepared for us. {image} {image} {image} {image} {image}
@LongBTC -- beautiful -- you made my day. Thank you.
  • #3,025
  • Edited 6:48pm Jun 14, 2019 6:29pm | Edited 6:48pm
Quoting LongBTC
Hey guys, another great day for trading. I provide a couple of setups that the MM had prepared for us. {image} {image} {image} {image} {image}
@LongBTC -- is the 4th chart -- GBPCHF/H1 -- the loser? Could you share a screen shot of the loser? I would like to see if I can troubleshoot it and / or adjust a filter that might have identified the signal as a false positive.

Also, are you using SL / TP? How are you Exiting?
  • #3,026
  • Jun 14, 2019 9:57pm Jun 14, 2019 9:57pm
Quoting robots4me
{quote} @LongBTC -- is the 4th chart -- GBPCHF/H1 -- the loser? Could you share a screen shot of the loser? I would like to see if I can troubleshoot it and / or adjust a filter that might have identified the signal as a false positive. Also, are you using SL / TP? How are you Exiting?
CHF was gaining strength across the board, wouldn't of sold it across any pair yesterday
  • #3,027
  • Jun 14, 2019 10:51pm Jun 14, 2019 10:51pm
Quoting robots4me
{quote} @LongBTC -- is the 4th chart -- GBPCHF/H1 -- the loser? Could you share a screen shot of the loser? I would like to see if I can troubleshoot it and / or adjust a filter that might have identified the signal as a false positive. Also, are you using SL / TP? How are you Exiting?

Hey Steve,

The trade I lost yesterday was USD/CAD. I remember at the time the trade went into profit (about 5-10 pips) but price moved higher up and hit my SL. Normally I would move my SL to BE when in profit but was still on vacation.

My exits are somethings I still need to work on, I'm very much focussed on entries as they are way more important for me at this time.
I provided a screenshot from a trade I took yesterday with exit explanations. I also keep notice of the ADR at the time, the amount of pips on the table and the time of the session we are at. (I don't really like trading during US/Asian sessions).

I use a very tight SL, when a target is taken out using the MMdedective indi and my trade gets activated, I only keep room for 3-15pips depending on the pair. (for instance on EUR/USD with an ADR of only 53 I'm going to keep a very tight SL, but on the GBP/NZD with an ADR of 117 I will use a 15 pips SL as I can let profits run for 30-50pips while on the EUR/USD I'm more then happy catching the small retracements/reversals for 10-15 pips.)

Edit: If you look at the EA chart to the left you can see 2 more targets taken out by 4 and 6 pips and then price goes for a nice reversal.
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  • #3,028
  • Jun 14, 2019 11:17pm Jun 14, 2019 11:17pm
Quoting LongBTC
{quote} Hey Steve, The trade I lost yesterday was USD/CAD. I remember at the time the trade went into profit (about 5-10 pips) but price moved higher up and hit my SL. Normally I would move my SL to BE when in profit but was still on vacation. My exits are somethings I still need to work on, I'm very much focussed on entries as they are way more important for me at this time. I provided a screenshot from a trade I took yesterday with exit explanations. I also keep notice of the ADR at the time, the amount of pips on the table and the time of the...
@LongBTC -- really, really helpful information. Thank you for the details.
  • #3,029
  • Jun 14, 2019 11:30pm Jun 14, 2019 11:30pm
Quoting robots4me
{quote} @LongBTC -- really, really helpful information. Thank you for the details.

For entries, I also look for support/resistance (or herd supp/res zones, whatever you may call it) that the MM sets up. Targets that are taken out above or below these setups are what I'm looking for, just like George does I believe. I provided a screenshot of the EA 15m from yesterday. Sorry for the very messy screenshot, I really don't like it as I only use the 1M TMA's and MMdedective but I can't remove all the other TMA's etc.
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  • #3,030
  • Jun 14, 2019 11:47pm Jun 14, 2019 11:47pm
I will provide a less messy screenshot from the 24th of may (GBP/NZD) using naked PA and only the MMdedective indi to draw tops and bottoms.

You will see tons of setups like these if you go through the history of your charts, it is very clear there is an algo at work here.
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  • #3,031
  • Jun 15, 2019 1:48am Jun 15, 2019 1:48am
Quoting robots4me
{quote} @Robot Trader -- the long answer to your question -- "Yes". I've been thinking along the same lines. One sticky issue is the indicator that computes MTF TOPS / BOTTOMS is rather CPU-intensive, so incorporating it into IRUTM would create quite a CPU and memory hog. I've also been thinking about dividing functionality into different indicators that each get attached to their own chart. Turns out indicators on different charts can "talk" to one another and share data through a mechanism called "EVENTS". I'll think about this some more over...
I guess what I was trying to get at is does PA act differently when taking out SL's, is it a quicker move in relation to just normal swing high's & Low's, therefore if this was the case we would not need to know where these Tops & Bottoms are because the movement of price itself and the Spike it forms would tell us this information.
Some people say I'm lucky, but the more I practice the luckier I get
  • #3,032
  • Jun 15, 2019 1:57am Jun 15, 2019 1:57am
Quoting parisboy
{quote} @Robots4me, no useless indicator was used ! My coding machine is my hand. Only Paint was used to hand drawn not true "sine waves" . In this matter I agree with "George" and the magic educational power of hand drawing patterns, trends, resistance, support , cycles, waves etc PS ALL REQUESTS BY LAZY TRADERS FOR SPOONFEEDING WILL BE DENIED {image}
Parisboy,

It reminds of a story.

A farmer is gifted a stallion. The farmer is fascinated by the stallion and it becomes the apple of his eye. The farmer, "Look at how beautiful it is, look at it's magnificent gait, look at the royalness etc...", his neighbors, relatives, friends are really happy for him. Weeks pass by, whenever he encounters his neighbors or friends or relatives, the farmer is always talking about this stallion, "My stallion, "Look at how beautiful it is, look at it's magnificent gait, look at the royalness etc...".

This behavior goes on and on.... All of his friends, neighbors and his well wishers had enough of it and they decide that the farmer needs an intervention of sorts. They all pool together some money and plan a group vacation. The farmer reluctantly obliges.

They all get onto a airplane and are above hundreds of meters from the sky. His friends tell the farmer, "Look out the window-It is a such a beautiful sight"
The farmer says," Yes. It indeed is beautiful- we are really at a great distance from the earth- What a wonderful sight it would be to look at my magnificent stallion from this height, it's magnificent gait, it's royalness"....

It looks like Master George is the focal point of your attention. No matter what everyone does, you will a find a way to incorporate George in some shape or form. Goes to show his George's credibility.

Thanks
  • #3,034
  • Jun 15, 2019 2:33am Jun 15, 2019 2:33am
Quoting aaven
{quote} Parisboy, It reminds of a story. A farmer is gifted a stallion. The farmer is fascinated by the stallion and it becomes the apple of his eye. The farmer, "Look at how beautiful it is, look at it's magnificent gait, look at the royalness etc...", his neighbors, relatives, friends are really happy for him. Weeks pass by, whenever he encounters his neighbors or friends or relatives, the farmer is always talking about this stallion, "My stallion, "Look at how beautiful it is, look at it's magnificent gait, look at the royalness etc...". This...
@aaven -- dude, it was a little, light sarcasm. Once again, your duty to come to @George's defense?

Quote
It looks like Master George is the focal point of your attention.
@aaven -- I think you've got it backwards. "Master George" is your focal point of attention.

EDIT: @aaven, I was going to minimize your post but, on second thought decided against it. You don't realize it but your posts do more harm to @George than good. Though this is a forum about forex trading, your devotion to a "Master George" reveals an admiration that goes beyond professional respect. It's closer to a cult-like devotion. I will no longer suggest that you open our eyes -- it's not about that, right? Please continue -- the more you post the more obvious it becomes to others.
  • #3,035
  • Jun 15, 2019 2:40am Jun 15, 2019 2:40am
Quoting robots4me
{quote} @aaven -- dude, it was a little, light sarcasm. Once again, your duty to come to @George's defense? {quote} @aaven -- I think you've got it backwards. "Master George" is your focal point of attention.
Like wise, just some fun on my part. Have a great weekend.
  • #3,036
  • Jun 15, 2019 3:16am Jun 15, 2019 3:16am
Quoting Robot Trader
{quote} I guess what I was trying to get at is does PA act differently when taking out SL's, is it a quicker move in relation to just normal swing high's & Low's, therefore if this was the case we would not need to know where these Tops & Bottoms are because the movement of price itself and the Spike it forms would tell us this information.
@Robot Trader -- I think that is a good question, but I'm not sure. A screen shot that distinguishes what you mean between the two possibilities would make it more clear to me.

Here's my current thinking -- candidate signals are generated when price pokes its head above or below the M1 TMA. It's that simple. If you're @parisboy then you use some other channel-type algebraic formula, And if you are @TopCover then you like Murrey Math lines. And if you are <fill-in-the-blank> you like fibonacci numbers, it's all the same thing. Let's call it "spike hunting". They are all looking for the MM to stretch the price to some extreme and then reverse.

After a candidate signal has been identified, the next step is to apply a "filter" to determine whether or not it is a true signal or a false positive. Every strategy will apply some type of "filter" to minimize false positives. Even @George does it -- but he does it in his head as he runs through his list of filters.

You do not need to know in advance where the TOPS / BOTTOMS are. The MM spike tells you that you must have touched one of its target levels.

Think of it this way -- TOPS / BOTTOMS, target levels, liquidity gaps -- these are prices the MM intends to revisit. Forget about drawing them, just save them as a list of prices on a piece of paper. They are simply a list of numbers. They have no order. You don't know in advance which one will next be touched.

When the current price matches with one of the numbers on the list then cross-out that number -- since it has now been revisited. That is all that is happening when a spike touches a target level -- you get to cross out a number on a list.

That's not to say those numbers in the list have no value -- they do. When the MM reaches to touch a price in the list we assume (a) that was to take out accumulated stop losses and restore some liquidity to the system, and (b) the price will return to a fair value / equilibrium. So that is also the point we open a trade in the reverse direction.

Not every spike touches a TOPS/BOTTOMS target level line -- and there is a simple explanation as to why. TOPS/BOTTOMS are drawn by hand (in @George's methodology) and since humans are not perfect (except for @George) then they might make a mistake from time-to-time and miss drawing a line. Or, the human drawing the lines may add a line they shouldn't -- and this could lead to a false positive.

Do you see it's all variations of the same thing -- "spike hunting"? Looking for the price to be stretched to some level, band, channel, line that is beyond its current path. As far as I can tell, it seems like the M1 TMA works as well as anything else to generate candidate signals.

@LongBTC posted some charts above that show target levels can work as a nice filter to confirm that a particular spike is a true signal (as opposed to a false positive).
  • #3,037
  • Jun 15, 2019 3:18am Jun 15, 2019 3:18am
Quoting aaven
{quote} Like wise, just some fun on my part. Have a great weekend.
Quote
Have a great weekend.
@aaven -- are you sincere about wishing me a good weekend? Or are you being sarcastic and hope I have a bad weekend?
  • #3,038
  • Jun 15, 2019 3:37am Jun 15, 2019 3:37am
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May God bless them with longer tongues, so that they can give pleasure lick to their "master".
And God, forgive us because we don't have long, agile tongues.

Ameen..
Dog + Smile = Beautiful Day
  • #3,039
  • Edited 4:02am Jun 15, 2019 3:50am | Edited 4:02am
Quoting Nih98
{image} May God bless them with longer tongues, so that they can give pleasure lick to their "master". And God, forgive us because we don't have long, agile tongues. Ameen..
Bro...LOL awesome pic/story !

Have a very nice weekend...
I never lose - either I win or I learn...
  • #3,040
  • Jun 15, 2019 4:02am Jun 15, 2019 4:02am
Quoting Nih98
{image} May God bless them with longer tongues, so that they can give pleasure lick to their "master". And God, forgive us because we don't have long, agile tongues. Ameen..
Really NIH?

I always assumed you were above all that, mate.

Anyways, you are completely free to express yourself in anyway you wish here of course.

Stay safe where you live mate, while it is all child's play here, the real world outside your door is not so nice.
Empty your mind and let the market guide you
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