hey mactrading I picked up an excellent book from Amazon for just a handful of dollars
it's a very clear easy to read run down on the market maker business model
author is Martin Cole....you will have heard of him if you are interested in MMM
hey mactrading I picked up an excellent book from Amazon for just a handful of dollars
it's a very clear easy to read run down on the market maker business model
author is Martin Cole....you will have heard of him if you are interested in MMM
Ignored
Martin Cole's model of 3 market phases: accumulation, manipulation, profit-release is relevant to this thread. Hope to see some charts with belief bars, jump bars, intent bars shown.
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Joined May 2004
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Status: TIME is most important ingredient
|91 Posts
[quote=hart3000;5363232]Here we go / went ...
See how easy it was to sniff out the "fake" M? Just look at the 60m TDI and don't take an M down as long as the TDI (green line) is still making higher highs without showing exhaustion. Look at the last 100 Ms of the 15m EU chart, hold them against the 60m chart and see which ones developed into full reversals and which ones did not. Note further, how many good Ms were at or near a confluence of "lines" (previous day H, Blue, Mayo, Water, PP, M3, M4). Same for Ws.
Hi Hart3000
What is the "TDI" and the water etc that you speak of?
Thanks
hey mactrading I picked up an excellent book from Amazon for just a handful of dollars
it's a very clear easy to read run down on the market maker business model
author is Martin Cole....you will have heard of him if you are interested in MMM
Martin Cole's model of 3 market phases: accumulation, manipulation, profit-release is relevant to this thread. Hope to see some charts with belief bars, jump bars, intent bars shown.
I took the GBP/USD short. The M-pattern in the 15min TDI was more defined: first leg above volatility band (SharkFin) and second leg came close but could not break the band, while prices made new high above Weekly R1 and closed under. I would have been stopped if that 5:00amEST pin bar was to be as huge as GBP/JPY.
I took the GBP/USD short. The M-pattern in the 15min TDI was more defined: first leg above volatility band (SharkFin) and second leg came close but could not break the band, while prices made new high above Weekly R1 and closed under. I would have been stopped if that 5:00amEST pin bar was to be as huge as GBP/JPY.
Ignored
Congrats!
May I ask what your risk/reward was on this trade?
Congrats!
May I ask what your risk/reward was on this trade?
Ignored
I use a fixed risk for each pair, pre-programmed into my conditional orders (called OCO/OSO in TradeStation). Once the entry is live, I should adjust the stop order but usually just left it alone. I share-size accordingly so 23pips risk allowed less lots, 15pips risk allowed more lots. So every trade risked same dollar amount.
For this trade, my default stop is 20pips and you see on earlier 15mins chart my default exit is +80pips down at the blue lines with text "L:30000", around 1.5834 area. I usually take half profits off at +40pips, move stop to breakeven, and let the rest run. If that 80pips (arbitrary) target looked too difficult to reach, I will peel off partials at key reference areas such as Daily Pivots or 15mins 200ema as in this GBP/USD example today and maybe close the trade before reaching +80pips on the remainder lots.
I use a fixed risk for each pair, pre-programmed into my conditional orders (called OCO/OSO in TradeStation). Once the entry is live, I should adjust the stop order but usually just left it alone. I share-size accordingly so 23pips risk allowed less lots, 15pips risk allowed more lots. So every trade risked same dollar amount.
would anyone take this GBP/JPY long? W-pattern 15mins as of 10:11amEST, at ADR Lo, round number 122.00, near Daily Pivot PP, rising 200ema.
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I know the one thing a MM teacher cautions against is trading pairs wherein the Asian range is greater than 50 pips. GJ's Asian range was 80 pips, which is why I'm staying out.
would anyone take this GBP/JPY long? W-pattern 15mins as of 10:11amEST, at ADR Lo, round number 122.00, near Daily Pivot PP, rising 200ema.
Ignored
Though it appears to be at a Level 3 intra day, it's only level 1 in the cycle on the 1hr..also it's more of a V pattern, due to the candle closed below the Previous low candle body, it may go up.. but becareful it may just bounce off the waterline... this is IMHO.
I know the one thing a MM teacher cautions against is trading pairs wherein the Asian range is greater than 50 pips. GJ's Asian range was 80 pips, which is why I'm staying out.
Ignored
This is a general rule that can be ignored when accumulation happens outside the Asia session. Here, the accumulation took place during late NY session (see my white lines markup below). The reversal M was first-class.
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Joined May 2004
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Status: TIME is most important ingredient
|91 Posts
Here is a snap of the 6A aussie futures. There was a nice 28 pip light balanced profile during the European session leaving two naked POC's. Noramlly these POC's will become visual targets. After the t-line break and the retrace was underway entry order placed at 1.0782 and target the lower POC from the Asian session at 1.742. Worked fine today. Left my work on the chart this morning so a bit messy.
