BMI - MacD Magic Monster

just out of curiosity......... how is everyone doing using this system?

Hi BMI, great job! i like ur indicator
thanx.

Hi,
I also like MACD , some lucky day,i have earned 140+ pip in one single day.
But most of the time i see lots of Whipsaw in the market.
how to avoid it,specially in 5 min and 1 min chart.
Can you provide some settings on those chart with filtering those whipsaws.

hello BMI,

Hope you're doing well this year !

I'd like to report that Tickmonster_Arrows2.mq4 doesn't seem to draw grandma and grandpa correctly.

-slowpork

Yo slowpork.

If I recall, the TickMonster that I uploaded at that time, glued the averages to the white line (Current Tick) until enough ticks were passed to have the actual average. The reason for that was it was easier to see that the TickMonster is more valid once all the MA's have separated from the White line.

In a slow market, it can sometimes take 30 minutes or more before GrandMa and GrandPa become visably active.

The version after that gives no average lines before the relevant amount of ticks have passed. It also allows you to alter the number of ticks used for the averages. Unfortunately I got a bit lazy and TickMonster is confined to use as SMA's. When I get a chance I will set it up to be the same as Big and SmallMac with EMA's.

I might be incorrect in the detail here, since I upgraded the Tickmonster Indicator quite a few times.

What I will do is upload a zip file of all of the Monster indicators. Meaning that the newer and updated versions will be more functional and correct.

The Family Hierachy of names is also now in the new indicators, meaning if you hover over any specific EMA, it is listed by name (Mother, Grandma etc.)


I hope to have a chance to collect and do the zip file within the next few days.


Yo NewStar. As a general preference, I sometimes do trade on the faster timeframes, but I always zoom out to max to see the 'bigger picture' I also look at the slower timeframes as a reference.

Once you begin to get more familiar with the particular pattern structure of The MacdMonsters, it becomes a little easier to see in realtime. In a hindsight after the fact chart, it is very easy to see and say 'Here is where I should have entered' but in the realtime edge, it is safer to wait a while for a confirmation.

If you are trading on the faster timeframes, you can usually see on the next one or two up if you are experiencing a retrace or a reversal. If it is only a retrace you can usually see if it will again drop to a profitable range for your trade.

Example:- If you had entered a short trade at the start of the red Trend Line, the M5 chart shows you are most likely to be entering a 'Reversal' to the Long side on the M1 timeframe. The pattern in both the M1 and the M5 are showing that PA is above and is highly likly to stay above.

You should not enter a trade in the M1 Timeframe without looking at the M5 and M15 charts first, preferably the M30 chart too.

A single warm day in Winter does not mean that it is suddenly summer. Only by viewing the slower timeframes can we get a feel for the Trend. They can seem contradictory, but they are not, since the pattern is cyclic and fractal in nature and it is in all the time frames, from Tick Chart through to a Century chart or more.

If H4 and H1 and M30 are in a downtrend, then a push above GrandMa and GrandPa on M5 or M1 is usually just a retrace that is shortlived. Retraces and Reversals are subjective when compared to longer timeframes.

A retrace in M5 is a reversal in M1, but only a minor movement on the H4 chart.

Scalping is a tricky tightrope. Rather be patient and wait for a 'safe' 20 or 30 pips or more trade instead.

I prefer to trade primarily on the H4 Timeframe, using the faster timeframes for specific entry clarification instead. I aim for the 150 to 200 plus pips trades where possible. I put a SL +- 100 pips below my entry point, and if my profit reaches 100 pips I move the SL to Break Even. NOT before that. The PA usually has 'whipsaw' and it takes a while to get above it (or below if going short).

The more you practice the more easy you are able to see the patterns and recognise them.

The most important thing I have found is that you need to stick to any particular system, and set yourself a set of rules that suit your temperament. Then treat those rules as unbreakable. If you deviate from your rules, you always end up in hot water.

No system is perfect. No system is 'easy'. There is NO magic rub the lantern Genie. Persistant and 'Boring' trading is profitable.

Risk Management is paramount. For example if your system is set to trade using 5% of your Account Balance, then you need to test how many losses in a row you can absorb before it trashes your account. This you compare with your systems results for Win:Loss ratio and if your long term average of wins is greater than your long term losses, then your system and Risk Management is solid.

You can not chase water under the bridge, and even more important is once you hit a losing streak (it happens), just cut your losses, get out and do not trade any further that day. Come back to trade the next day or possibly even later when your mindset and mood are refreshed and clear.

Panick Trading, Hopeful Trading and Recovery Trading are almost never positive.

http://img338.imageshack.us/img338/139/m1m5confirm.png

I have been working on other ways to fine tune the accuracy of 'safer' trades. Using other indicators etc. I have 1 indicator that is so far outperforming the others, but I have not got it good enough to my satisfaction yet to post.

Always place a Stop Loss. Never increase your Stop Loss Risk. In other words if your trade is a short and your initial SL is just above the previous High, never take it higher. If it gets hit, then it gets hit. The only time it is ok to change your Stop Loss is if you lower it to a Lower High, or to Break Even.

Making profit is not at all about increasing your wins. It is actually all about decreasing your losses.

BlueMental

Hi BlueMental

Do you still trade this system as per the original rules? how did it fare since you started? I find it really impressive and accurate. Thanks for your contribution

suscribed . . .

Greetings All.

I have not posted here for a long time.

@ gogoprovost.

Yes I do trade by the original rules, however sometimes it is not that easy to see clearly at the right live edge of the screen. It is very easy to see after the fact. (Hindsight is 20/20 vision).

So what I do (which took me quite a while to do with every trade) is place my stop loss imediately to the previous high or low (depending if I'm going short or long) + spread + 2 or 3 pips.

I found that in the past, I felt that the trade would follow the path and it did not, ending in losing many pips.

I also find that the best use of the Monster is to trade on the H4 chart.

There are not so many trades, but they are extremely lucrative when they do occur and are easier to see and confirm that they are going along the path described while still having enough movement left to make a profitable trade.

In other words before entering the trade, I wait for at least 3 or 4 bars after the Price Action has dropped below Mother (Red EMA-47) and has reached up to test going back above and failed.

If this is done in the shorter time frames, there are more opportunities, but the run is far less pips. However the pattern is the same in all time frames.

I have also noticed that the News events usually follow the pattern shape as well, and if they go in the opposite direction, they revert very quickly.

The News events can be profitable, but they require a totally different way of trading and is more a 'scalper' type of trade and to me they are just not worth all the hassle.

BlueMental.

Just a quick message - I am experimenting since a few months with various versions and settings of MACD, and I found this thread to be simply amazing.

Still not quite grasping the scallop concepts on lower time-frames, but my main trades are anyhow 4h and daily.

A BIG thank you to BlueMental, I hope he is still around occasionally and fares well.


Best,

Michael

Hi, This post is just a test to see if Google Drive Images work on this forum.

There should be a picture below this line:-
https://docs.google.com/document/d/1..._TSmnKAWY/edit

I guess we shall see... or not see.

Hi All.

I have developed a new indicator that is based on Magic Monster, channels and Gann Grids. It offers the key to when to enter and exit trades if used in conjunction with Magic Monster.

If you people are interested, just post and I will give more details.

(In other words, is this thread dead, or do you want that extra 'edge' added to the Monster?)

Blue Mental

Blue, I´m always interested in great thinkers like you. go ahead !

Hi BlueMental,

I would like to see that extra "edge" added to the Monster..

Thank you
Sabrina

Hello Bluemental,

I am still subscribed to this thread no matter if the Mayan´s got it right or not. If they did predict correctly, I will resubscribe immediately after finding myself on a new planet ( named " Blue " ? ).....

Seriously speaking, I still apply your Magic Monster indicator to my charts, although I find it seems to work best on higher timeframes.

I would of course be grateful for any new ideas - plus good to see you`re alive and well ( hopefully ).

Only the best to you !

Michael

yep...i love the MACD....I'm interested!

Ok, there is obviously interest. BUT there is a vast amount of stuff needed to cover to make any sense of what the new indicator shows.

Not only that, the journey that I have been on (mental/philosophical journey) has allowed me to see/gain a deeper understanding of the Monster, and more than that, of Currency Pairs, Stock, the price of goods at the grocery store and how rivers flow.

This means that there is work involved. Without looking into (at least partially) how Gann Grids work and the basics of channels and channel breaks, this new indicator will not be very useful. It will show resistance and supports, but without the deeper understanding, seeing these supports and resistances will not leave you any clue as to when the price is likely to break through a resistance or 'randomly' change direction.

If you are prepared to put in the work, I am happy to share what I know/have. If you merely want to 'see' then I am not prepared to put in the hours.

Your response?
BlueMental

Michael, believe it or not, The Mayan's are so 100% spot on that it is freaky. First of all, the 'end of the world' aspect to the Mayan calendar (one of their calendars) is very much a Western point of view. It is merely the end of a cycle. A HUGE cycle, but never the less, it is a cycle. It is the shifting of suns.

Another way of saying it is the death of the age Pisces and the beginning of the age of Aquarius.

In a way, the Gann Grid, Pyrapoint Tequnique, My new Indicator which I have name Magic Moving Channels and the Mayan calendar all do the same thing. They observe and 'chart' cycles of the energy of things.

Most of the current use and understanding of Gann grids is way off the mark. The Pyrapoint Method once studied in a bit of depth is an eye opener of note. He is the only one I have discovered so far that understands the cyclic nature of the markets and how and when they are most likely to change and why.

He explains in his book in detail about this. He has studied this for +- 30 years.

We will go into what I understand about the Pyrapoint side of things, (which I regret to say is very limited knowledge.)

After understanding Pyrapoint a bit more than just looking at the charts of it, it quite literally dumps you in the middle of a paradigm shift. You will never see the charts in the same way again. By seeing this, allows you to notice the predominant 'failure' of Gann Grids. They are static and they are confined (at least in the Mt4 they are) to horizontally latticed 'diamonds'.

The reality is that they (the Gann grids) are actually dynamic. My indicator is dynamic Hence I call it 'moving'. Though it does not actually 'move', the fulcrums that the channels follow alter in response to the market movement. The 'standard' Gann Grid does not.

Those are the basic descriptions of what we will be discussing/exploring for a deeper understanding so that after all is said and done, that they can allow us to make confident and profitable trades.

BlueMental
<edit> ps Michael, my user name is BlueMental - with a capital M, I am in life, a Freelance trader (among other things) and my name, is Lance (and I am Free) Blumenthal. Blue happens to be my favourite colour. If you remove the 'e' From BlueMental, and add an 'h' after the 't', you have my surname.... Blumenthal.
A useful company name for me would be FreeLance Blumenthal, but my pseudonym of BlueMental is the one I have used for years in my art and writings. <edit_>

Ja asseblief Blue, please continue!

Here is something I'm trying out. It's your EMAs on swingman's Pama Gann grid.

Nog a Sefrican, ek het gedink ek is die enigste een.

No, Hansie, I don't know the Pama Gann thingy in your Pics. No BS, but to me it looks like an attempt to get something out of the Gann mindset but misses badly. One thing you need to understand about Gann, is that he traded with an accuracy of +- 80% winning trades. Though he did seminars and stuff like that, he never gave away his secret.

He died in 1955 and he used to charge $5000 per seminar. You can imagine, $5k then was big money. Before we actually go into having a look at the grid, do you know anything about the cube of 9?

Do any of you guys/girls know anything about the cube of 9?

OK, a couple of things. ( The American version of 'a couple of things' means 2 things, the South African version of 'a couple of things, could be anywhere from 2 (but not often) to at least 5 or more...

1. I assume that all of you have read and basically understand the whole makeup of the Magic Monster. If not, please read this thread from the beginning. If you don't understand the Monster, you will just get more lost than you already are.

2. Another thread here in FF was written by haiderfsd called GGG - Gann Grid Group Trading at http://www.forexfactory.com/showthre...ght=gann+group
It will do you a lot of good to go read what he has to say about trading with the Gann Grid. The most important piece of info that he shares is that by using the grid, he waits until the price moves into either the Buy Zone, or the Sell Zone. After it is in one of these zones, only then do you wait for the signal to buy (in the buy zone) or sell (in the sell zone. Although he is using the Gann Grid as a tool, he is not really using the Gann Grid. I will explain this clearly later, just remember this 'weird statement for now.

3. If you do not have a MBTrading - Desktop Pro - demo account (NOT the Mt4 demo, they run on different servers) Desktop Peo installed, NOT Desktop standard. Then please do yourself a favour and install them. In the Desktop Pro trading platform, they have a 'drawing tool' called Pyrapoint, which was designed by Don Hall. (Just Google "Don Hall Pyrapoint" and you will find his website. You can also check lots of pictures of charts with Pyrapoint on them on the MBTrading Forums, but you can only check the pics if you have registered with them. If you are not, and do not want to go to the trouble of doing so, don't stress, it is not too important.

4. If you are not familiar with channels, and channel breakouts, or trends and trend (with trend lines) and trend reversals or breakthroughs, you can find some good pics here on this thread by FXHermit. In noticing how the breakouts work, you will also notice that while haiderfsd uses the Gann Grid, it is in essence, the channel and trend breakouts that he is following. He is not speaking about specific time frames that the grid actually shows when and where the breakouts are most likely to happen.

6. If you have not downloaded BMILong__.mq4 (The actual MacD indicator I wrote that the 6 EMA's of the Monster are based on.) you can find it here :- http://www.forexfactory.com/showthre...27#post3708227

That is more or less a couple of things...