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  • #1,021
  • Dec 6, 2012 1:21pm Dec 6, 2012 1:21pm
Mr Mauro's shit are just good on Thursdays if you can keep your hands still from clicking until that day )) see today as example..
if you do not take just the AAA setups you will take your account margined out before the mid-week reversal, IF and WHEN it presents itself, not every week too..
good lucky with this system, you just need to be very disciplined and with iron balls..I tried, it's not for me.. LOL
I get too emotional, trying to double up and recoup previous losses that inevitably occour specially when you are not very tuned in the system yet, which can take forever to get used to
  • #1,022
  • Edited 2:21pm Dec 6, 2012 1:30pm | Edited 2:21pm
Quoting Sammy76
Mr Mauro's shit are just good on Thursdays if you can keep your hands still from clicking until that day )) see today as example..
if you do not take just the AAA setups you will take your account margined out before the mid-week reversal, IF and WHEN it presents itself, not every week too..
good lucky with this system, you just need to be very disciplined and with iron balls..I tried, it's not for me.. LOL
I get too emotional, trying to double up and recoup previous losses that inevitably occour specially when you are not very tuned in the system...
Interesting comments. I wonder what would happen if,
1. We only take the AAA (triple-As) setups.
2. We wait for and identify the mid-week reversal.
3. Don't do anything if there is no setup.
4. Don't double-up.
5. Don't trade live until you internalized the method.

I think there are some discipline and patience issues here that may not be related to the method itself, although I agree that the Method doesn't work anymore. These issues can happen to ANY other course you bought or going to buy. A profitable trader may have certain attributes like Discipline, Patience, Confidence, Consistency, Knowledge. Not sure if blaming the "Knowledge" (from courses) can help solve or improve the other four attributes. Mark Douglas wrote two books about such problems, The Disciplined Trader (1990) and Trading in the Zone (2000), more than 12 years ago and still relevant in your comments. Like dying a slow death without even realizing it, we could just bleed the account over and over again without realizing what is the root cause.

Quotes (thanks to bstay2):

“I just wait until there is money lying in the corner, and all I have to do is go over there and pick it up. I do nothing in the meantime. Even people who lose money in the market say, ‘I just lost my money now I have to do something to make it back.’ No, you don’t. You should sit there until you find something.” – by Jim Rogers.

“Jim Rogers said it perhaps most colorfully, ‘I just wait until there is money lying in the corner, and all I have to do is go over there and pick it up. I do nothing in the meantime’. In essence, by not wanting to trade, I had inadvertently transformed myself into a master of patience. By forcing myself to wait until there was a trade that appeared so compelling that I could not stand the thought of not taking it, I had vastly improved the odds.” - from New Market Wizards.
  • #1,023
  • Dec 6, 2012 1:32pm Dec 6, 2012 1:32pm
Quoting Reese
Interesting comments. I wonder what would happen if,
1. We only take the AAA (triple-As) setups.
2. We wait for and identify the mid-week reversal.
3. Don't double-up.
4. Don't trade live until you internalized the method.
good things I suppose, just get your discipline very strong
  • #1,024
  • Dec 8, 2012 4:07am Dec 8, 2012 4:07am
Quoting lotsofmoney
mmaker are u a marketer for these guys
Obviously I'm marketing it well because another 9 just signed up (paying $5,150) despite the warnings and insider revelations, and I've no idea why these students have to do such a thing,

http://compassfx.com/steve/replay/students_speak.html
No longer trading forex. Looking for full time job.
  • #1,025
  • Dec 8, 2012 11:04am Dec 8, 2012 11:04am
and you do not even get commission
  • #1,026
  • Edited 12:43pm Dec 17, 2012 12:52am | Edited 12:43pm
Quoting ForMeFact0ry
2) why isnt there live trading room set up via omnovia?
3) why arent there live trades being recorded of winning and losing trades (trades which will hit specific stop loss)? (have you heard of screencast & camtasia?)
4) where is the link to myfxbook of your account to see years of past consistent profitable trading?
This might be what you are looking for, a free live trading room where calls are tracked similar to myfxbook over a period of time.
http://www.liveforextrading.info/forex-trade-room.html

This guy talks about bank trading and market makers too, with live charts videos:
Inserted Video

Inserted Video
  • #1,027
  • Edited Dec 20, 2012 12:20pm Dec 19, 2012 12:27pm | Edited Dec 20, 2012 12:20pm
Quoting Reese
Those still interested in trading 15 mins time frame, with or without TDI, can come over to this other thread. It is more active with experienced traders (10+ vouches) guiding the group. One request though, stop talking about Steve Mauro or Dean Malone at that thread. It is meant to be a free discussion.
http://www.forexfactory.com/showthread.php?p=6309179#post6309179
Just a poll question: You guys want to revive this dead M&W thread from time to time? Or should we all go over to Another simple system - Time-Frame 15 and learn to trade the method there? I'm just using MMFx template for these trades but they're all not Steve Mauro setups. I'm hoping those 1000's who are hurt by his marketing hype will find the other method useful ....... and FREE.
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  • #1,028
  • Dec 19, 2012 12:48pm Dec 19, 2012 12:48pm
thanks Reese
  • #1,029
  • Edited 12:19pm Dec 20, 2012 5:42am | Edited 12:19pm
Lucky streaks sometimes run for a while so ........

Again, these are not Steve Mauro setups. The market has somewhat "changed" and we have to adapt, there is alot to be learned over there.
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  • #1,030
  • Dec 20, 2012 7:18am Dec 20, 2012 7:18am
Reese are u willing to give us insight in your trading method
  • #1,031
  • Dec 20, 2012 9:17am Dec 20, 2012 9:17am
Reese,

Thank you for posting your SM charts it help me to understand this method as I do follow SM.

The indicator you have on right hand corner which show you pip to HOD and LOD can you tell me what iindicator is that please . I do have ISM_BPCT but does not show this. If I have the name I may be able to find it.

All the trades in list below the charts are these live trades or demo trades. Are you using any kind of EA to trade these ??

Thank you again.
  • #1,032
  • Edited 12:57pm Dec 20, 2012 12:11pm | Edited 12:57pm
Quoting Nasir
Reese,
Thank you for posting your SM charts it help me to understand this method as I do follow SM.
The indicator you have on right hand corner which show you pip to HOD and LOD can you tell me what iindicator is that please . I do have ISM_BPCT but does not show this. If I have the name I may be able to find it.
All the trades in list below the charts are these live trades or demo trades. Are you using any kind of EA to trade these ??
Thank you again.
You won't find any Steve Mauro setups in these trades, only the "standard" MMFx template is familiar to you. The account statement below the charts is a good rule at Another Simple System - Time-Frame 15 where each posted trade picture should be supported by corresponding broker history, whether Demo or Live, so that everyone is honest. Hope to see you over there as I think this thread is definitely dead beyond revival.
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  • #1,033
  • Dec 20, 2012 1:14pm Dec 20, 2012 1:14pm
Quoting Reese
The market has somewhat "changed" and we have to adapt, there is alot to be learned over there.
1207 pages in that thread? No thank you.

Not sure why people say the market has changed, I guess the implication is that M's (double tops) and W's (double bottoms) don't work (as well) as they used to? DTs and DBs have been around ever since the markets began. SM's elementary trading course translated into fancy trading terminology and conspiracy MM jargon (especially the part of some now-deceased MM who passed on this secret training to SM) needs a ton of crutches to stand on.
Sentiment: Short on cash. Long on hope.
  • #1,034
  • Dec 24, 2012 5:19pm Dec 24, 2012 5:19pm
The most important thing that helped me become profitable with the knowledge from MMfx is the Forex Tester 2 software. This is backtesting software with charts that are similar to MT4. Steve Mauro strongly opposes this software, but it wasn't until I spent several months backtesting 10 years worth of data on 4 different pairs that I figured how to be profitable. I am now working on a 5th currency pair. This is a great thing to do during the Christmas/New Years holiday season when volumes are low.

To any and all I recommend this software. It is cheap (~150 USD), and working with it is 1000 times better than looking at historical charts as Steve Mauro advocates. He is dead wrong on this issue. Backtesting with a program that can play candles forward is the ONLY way to solidly learn his method (or any method). I am beyond stunned that he does not strongly advocate it.

Of course now with the new and improved DMR, he (actually Jim N.) sees that this is a critical step in learning to trade. They are programming a backtester of sorts that handles a limited amount of data, but nothing beats testing 10 years worth of data on a pair.
Chance favors the prepared
  • #1,035
  • Dec 24, 2012 9:02pm Dec 24, 2012 9:02pm
Hi NeoRio,

I am interested in joining your Skype MW forum. Please kindly add me: achyong.

Thanks.
Achyong
  • #1,036
  • Edited Dec 25, 2012 12:23am Dec 24, 2012 10:25pm | Edited Dec 25, 2012 12:23am
Quoting JohnW
Of course now with the new and improved DMR, he (actually Jim N.) sees that this is a critical step in learning to trade. They are programming a backtester of sorts that handles a limited amount of data, but nothing beats testing 10 years worth of data on a pair.
Jim N. called it his Weekend Study Module (WSM) that is offered "free of charge" as part of DMR, which of course as you said is just emulating Forex Tester. People got sucked into thanking Steve W. for creating the EA to capture the snapshots (one week's worth of M15 and H1) and Andrew M. for writing the WSMViewer, when all they had to do is get Forex Tester. It's good that you brought this up to educate newbies about looking into Forex Tester instead of subscribing to DMR and waiting for Jim/Steve/Andrew/Joe to tediously create the package each Monday.

They finally got rid of Kim K. Her last day was Dec 18th and you won't find her name in the 1149 Members List.
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No longer trading forex. Looking for full time job.
  • #1,037
  • Dec 25, 2012 10:35am Dec 25, 2012 10:35am
why pay money for a tester if there is a free one floating around forexfactory that works in mt4
  • #1,038
  • Dec 25, 2012 11:16am Dec 25, 2012 11:16am
http://www.forexfactory.com/showthre...48#post6309048 post 18,008 .i hope this helps
  • #1,039
  • Edited 2:56pm Dec 28, 2012 1:43pm | Edited 2:56pm
Hello MMaker:

I find your remark about Kim K offensive. I have been helped by her many times. She is patient and explains things well. She trades a live account. Her straight forward and clear teaching has been invaluable to traders world wide.

The quote in question is below.

Quote
They finally got rid of Kim K. Her last day was Dec 18th and you won't find her name in the 1149 Members List.
[/quote]
  • #1,040
  • Dec 28, 2012 3:34pm Dec 28, 2012 3:34pm
Interesting how rumours go unchecked or challenged in many forums.

Kim K resigned on Dec 7th in an email to SM. SM accepted her resignation in an email on Dec 8th to be effective Dec 31st, 2012.

SM held an unrecorded Special Sunday Webinar on Dec 9th. He didnt mention Kim K's resignation, nor did he mention her at all. Kim K publicly addressed her resignation in the DMR on Monday night, Dec 10th.

Due to "technical difficulties", the video from that DMR was not posted until much later in the evening. It now appears that the "technical difficulties" were Kar's removal of Kim K's public resignation. Kim K received several recorded copies of the DMR that night with her resignation, it is available.

Kim K came in to her office on Tuesday morning Dec 11th to do the Scan session with Jim N. She discovered she had been banned from the MMfx Forum, the DMR sessions, the Scan sessions and their PayPal account. No explanation was given.

The end...she is gone.
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