M&W-Trading | Page 57 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Billy & Jim TMA & Channel & Life Health & Wealth 1,084 replies

TEB : BB, Stoch & MACD- 15 & 60 min trading 21 replies

Successful Trading & Determining the Probability of a Trading System 10 replies

ECN && STP && Scalping && Hedging - Broker Review - Oct 2009 24 replies

Trading Supply & Demand (ob & os) 17 replies

Attachments: M&W-Trading
Exit Attachments

M&W-Trading

  • #1,121
  • Feb 13, 2013 1:12am Feb 13, 2013 1:12am
Quoting NeoRio
If anyone here is interested in watching a trader in my Skype room take a MYFXBook challenge of taking a $100 account to $100,000 in less than a year (live account with all trades made public, including drawdown, leverage, etc, with no way to fake anything), feel free to contact me.
Kind Regards,
NeoRio
You should join NeoRio's Skype room.
  • #1,122
  • Feb 13, 2013 7:08pm Feb 13, 2013 7:08pm
Quoting robertj62
been using levels for over 1 year and they have great tendencies to fail but the setups do not and a great insight to perfect setups. Your best bet is to learn accumulation and distribution well. a clear understanding of the mentioned and then look on your hourly charts 1hr -4hr you will start to see them. could keep on writing but would change the objectivity of this thread. I have mastered a technique using accumulation zones with SM and it works without a doubt.

That is called a "re-set".
Chance favors the prepared
  • #1,123
  • Feb 13, 2013 7:57pm Feb 13, 2013 7:57pm
Oh man I wish y'all speak in layman terms. It's as clear as my backyard's mud.

Ok, let's scrap level counting all together. Too many people are saying that it doesn't work. And even Kim herself said "s*** the levels."

From my own BT I find it very difficult to count it in the first place anyway.

So the key is accumulation and distribution phase (re-set phase as JohnW put it) which is visible on 1hr-4hr chart.

Question, should we still give a damn about hi-lo of the previous day? The SM blue tracer. Should we give a damn about the daily pivots? And therefore should we only focus on daily cycle & daily setups alone?

Many thanks guys. Don't know where I'd be without you all.
  • #1,124
  • Feb 13, 2013 10:16pm Feb 13, 2013 10:16pm
Counting does not but accumulation does and a very powerful tool you may ask the more experience traders. Neo might be able to help. Honestly there is no easy way to this solution and tiresome time and effort has to be put into it. It's like SM says watch videos and trade. concepts, price action, setups and many other things have to come in as one then the trades are there constantly. Neo knows a wide spectrum of traders and has seen them go from loosing to being profitable or at least seen that their calls work in the Skype room. But be warned even there with good and bad traders its not easy. Key is how much time and Effort does one want to put into their Future....
  • #1,125
  • Feb 16, 2013 2:15am Feb 16, 2013 2:15am
I agree with RJ, counting levels is not where it's at. RJ uses a good strategy of spotting accumulation (and it so happens that Martin Cole strongly teaches accumulation as the first tell-tale signs of the MM's move). The thing is that it's not always the same, it's not always at the same time of the day and it certainly does not happen in 3's. We have some people that look for double tops (DTs) and double bottoms (DBs) at extreme levels, like Round Numbers, S/R levels, Volume extremes, stop hunt zones, accumulation zones, etc. As RJ said, there's no easy way around trying to read price, or follow the trail of crumbs the MM's leave in anticipation of the "real move of the day".

I think that the more time you do it (mind you, based on your trading hours, you might not see it every day, as it could happen during the NY, Asian or London session), but the more you see it happen, the better equipped you become trying to trade it. That said, I seldom try to outsmart the market. I've been burned many times thinking I had caught it, that I got in at the HOD, or LOD...but I didn't. I still like to anticipate what might happen, but I don't but the bulk of my equity on that as I seem to fail often when trying. Others who I see trade in my rooms every day do well. RJ has a nice grasp on using accumulation zones with stop hunt zones. Others use Pivots, HOD, S/R, etc.

One last thought is that some of the successful traders I see in my Skype rooms (like Roger) are scalpers on the M5. He seems to be able to extract 10-20 pips every 30 minutes while others are still trying to figure out which M or W they should get in on.

Best Regards,
Neo
Sentiment: Short on cash. Long on hope.
  • #1,126
  • Edited 6:21am Feb 16, 2013 2:54am | Edited 6:21am
I got a "cherry picked" level counting on EU this week. I admit it rarely happens, and worse, sometimes in anticipation of further rise/correction, the market reverses, breaks the level counting, and breaks my bank. But suffice to say the pattern exist, unfortunately it rarely makes an appearance. Nevertheless, it's hard to label this as pure luck.

Market makers move to where the money is, or where the "power to be" tell them to. Majority of us would never know where this direction will be. Sometimes it forms the classic Stevism level counting, but most other times it is hard to see. Bottom line, IMHO level counting is inconclusive.
Attached Image (click to enlarge)
Click to Enlarge Name: Untitled.jpg Size: 105 KB
  • #1,127
  • Feb 16, 2013 2:53pm Feb 16, 2013 2:53pm
Quoting mmaker
JohnW,
Interesting that you said that. Mark Coe in his latest message said one of his students have gone on to earn $1million in salary at a top hedge fund. So why is Mark willing to teach new students for ONLY $499 (over 3 months)? Why didn't the hedge fund hire him as well?
Forget about asking for his Myfxbook statistics. He managed funds in "clips of $75millions".
I took the course, it's a waste of time for the 5-days. I'll see how the rest of the 3 months does before giving final verdict.
  • #1,128
  • Feb 18, 2013 5:22am Feb 18, 2013 5:22am
I use Elliott Wave analysis which gives me 2 views North or South and if I am wrong intraday/intraweek as the market is unfolding I change my bias and go with the other view I have found having a balanced bias is the best way to go.

Take your loss like a man and move on big deal.
Find your Favourite Pattern
  • #1,129
  • Feb 18, 2013 5:39am Feb 18, 2013 5:39am
Any student of SM want to comment on my chart? Thanks.
  • #1,130
  • Feb 18, 2013 1:30pm Feb 18, 2013 1:30pm
Hi Ishtana,

For a SM~ "Safety Trade", you need to have a PFH, as you have shown from your SHS pattern, but after that you need to have had "vector" away from that point, with a return to within 25-75 pips (depending on the pair) of that PFH.

Look at your chart, on 15th Feb 06:45, you have a spike to the upside, and six candles later, a long bear candle. Imagine that the bear candle was the first candle of a set of RR, with the PA moving up and away, THAT would be more of a "safety trade".

Open the GU H1 chart for 31st Jan - 6th Feb. You can see a clear PFH at the end of January. There is sharp movement away from that point, with a return towards that PFH on the 5th February. The peak on the 5th is within the 25-75 pip-range to "qualify" as a SM~ "Safety Trade".

Do NOT rely on anything you may have seen or heard from anybody regarding the SM~ methodology. It just doesn't work on its own. If it did, there'd be loads of PROOF.
  • #1,131
  • Feb 18, 2013 1:44pm Feb 18, 2013 1:44pm
Quoting Duffgen
Hi Ishtana,

Do NOT rely on anything you may have seen or heard from anybody regarding the SM~ methodology. It just doesn't work on its own. If it did, there'd be loads of PROOF.

Another nail hit squarely on the head. BTW, whenever the levels don't go as prescribed, it is called a reset. Typically this means that price retraces away from the expected next level projection. At that point a new level 1 is declared and the level count starts over. If you're confused, you are not alone.
Chance favors the prepared
  • #1,132
  • Edited 7:37pm Feb 18, 2013 6:28pm | Edited 7:37pm
Thank you Duffgen and JohnW. I'm still studying SM materials and I agree it doesn't work in its entirety. But it's good to know that there are his students in this forum.

So which part of his methodology works and which doesn't?

Accumulation, stop hunt, and true trend seem to be working. Yesterday hi lo, certain MAs, and certain candlesticks at certain times seem to be working too. Level counting, TDI divergence, shadow boxes, weekly cycle, ADR projections, no 3 same direction in a day, no 3 same direction in 3 days, don't seem to be. At least not consistent enough.

Would appreciate your comment gentlemen. Thank you.
  • #1,133
  • Feb 19, 2013 6:51am Feb 19, 2013 6:51am
Quoting Duffgen
Do NOT rely on anything you may have seen or heard from anybody regarding the SM~ methodology. It just doesn't work on its own. If it did, there'd be loads of PROOF.
Agree. If someone hear failure story about SM method, kindly check is he a successful trader or not? His success story may give you some hint.
  • #1,134
  • Feb 19, 2013 6:53am Feb 19, 2013 6:53am
Quoting Ishtana
Thank you Duffgen and JohnW. I'm still studying SM materials and I agree it doesn't work in its entirety. But it's good to know that there are his students in this forum.

So which part of his methodology works and which doesn't?

Accumulation, stop hunt, and true trend seem to be working. Yesterday hi lo, certain MAs, and certain candlesticks at certain times seem to be working too. Level counting, TDI divergence, shadow boxes, weekly cycle, ADR projections, no 3 same direction in a day, no 3 same direction in 3 days, don't seem to be. At least...
Am still learning with a very positive mindset.
  • #1,135
  • Feb 19, 2013 10:33am Feb 19, 2013 10:33am
Man I hate it. I kept losing using SM method. Which part of his teaching is right and is wrong? I really need to know this guys. It's becoming quite frustrating now. M&W are getting less visible and less accurate. And how do you guys identify the peak formation? Do you need another lock to make it a firm peak formation? And a PF isn't really considered as a PF unless there is a lock in it? ...
  • #1,136
  • Feb 19, 2013 4:54pm Feb 19, 2013 4:54pm
Quoting Ishtana
Man I hate it. I kept losing using SM method. Which part of his teaching is right and is wrong? I really need to know this guys. It's becoming quite frustrating now. M&W are getting less visible and less accurate. And how do you guys identify the peak formation? Do you need another lock to make it a firm peak formation? And a PF isn't really considered as a PF unless there is a lock in it? ...
You can't take every M & W. Hopefully your being selective. Just like anything you cannot jump around. Take 1 or 2 pairs and study them carefully. I am finding the levels to be present, not sure why others are saying they can't see it. It may be misdirection - this is a forum and you really have to believe no one but yourself and you own research. If you're frustrated, step back, step down a time frame start macro and work your way in.

Step 1 - View the 1 Hr
Step 2 - look back 2 weeks (10 trading days) Find the highest (PFH) and lowest (PFL) points
Step 3 - look for the ebbs and flows of the market.

It ultimately should make a Lower low 3x or a Higher high 3x over the course of a few days sometimes not just in 1 day. Once a run is put in (which should be equal to the pair's ADR) look for that (Support) LOD to break or be tested. If it keeps bouncing on it that doesn't mean reset or call it level 3, it's just consolidation. If the next run begins and it's only a fraction of the ADR it's still not the next level. I was getting confused thinking it was 3 candles down today so must be level 3, and then I was wrong. But if you look for the consolidation points and then draw a horizontal trend line and measure each run against it's ADR then wait for it to break to count the next number.

Also look for the right strikezone triggers, without a vaild reason to get in just merely buying any M & W will certainly lose you money. What Steve calls 3's Sam Seiden calls Extremes, and Sterling calls it bank manipulation points. They all speak the same language it's the interpretation that comes accross differently. I see it much more clearer now than I did several months ago and it's taking a lot on my own re-programming to see it. You need to stop, focus and rip the menthod apart. Disecting each part and isolating it individually to see how it impacted what happened.

I am no expert but I am getting better at seeing this method more clearly, as with anything it takes time an dedication it certainly isn't something you gonna learn overnight nor in the last few weeks that I've seen you posting.

Where to start - start by making a list of everything you know about this method and mark up a chart, then do it several times over on the same pair back a long long time. Then each night extend your chart and write what you think will happen tomm. Zoom out. What happened? How did it play out? Were you right? wrong? and why. do the drill again the next night.

There is definitly manipulation we know this, anyone in the industry knows managers don't get to run money by how they feel that morning they have to follow a plan of action - if this we do that. In some cases they need a risk board to weigh in on their strategy so big moves to their plan on how they move markets are not that easy to change. Price is that history, and to be a consistent institutional trader you must be consistent, to be consistent you have to do the same day in day out, or you're out of a job. Cowboys are not allowed on trading desks.

Breakdown the method and build it back up 1 brick at a time and see if you see more clearer.

Happy Trading!
  • #1,137
  • Feb 19, 2013 9:38pm Feb 19, 2013 9:38pm
Quoting FX-Trader
YWhat Steve calls 3's Sam Seiden calls Extremes, and Sterling calls it bank manipulation points. They all speak the same language it's the interpretation that comes accross differently.
Do you recommend Sterling Suhr's course and live chatroom? I heard he's a copycat of Martin Cole and Steve Mauro. His old threads were on ForexFactory some years ago.
4H 5EMA System
5M G/U System
The Opens
DayTradingForexLive - Live Trading Room
  • #1,138
  • Feb 19, 2013 10:00pm Feb 19, 2013 10:00pm
Quoting anyone
Do you recommend Sterling Suhr's course and live chatroom? I heard he's a copycat of Martin Cole and Steve Mauro. His old threads were on ForexFactory some years ago.
I'm not recommending anyone rather I recommend anyone wanting to learn this method forget trying to learn it by way of Beer Funnel and actaully disect the method. If you peel back the layers of the onion you will see the market dynamics and understand what the smoke and mirrors consists of and ultimately figure out the man behind the green curtain that your not suppose to pay attention to. Everyone talks about Supply & Demand are they copycats of Sam Seiden or those before him? Everyone talks about Harmonics are they copy cats? While 90% of the market talks about trading one way there is a small group of people talking about trading this way. So what if they all start to sound the same, people sound the same on the other spectrum - market makers -phooey, yeah right. That's why we have Bulls and Bear mentality.

Again if you want to learn the method break it down to its simplest form, price and look for repeatable behavior patters knowing that it's a visual numbers game so when targets are met then they break not when a number of days is hit. It's all about wealth/price.

I am keeping positive because I finally see the light, and reading the B/S posts over the last few days I felt I had to pipe up. Until you give something a college try you really can't knock it. Trading is not an easy endevor if it was everyone would do it. Just like anything put in the time and you'll be rewarded.
  • #1,139
  • Edited 10:27pm Feb 19, 2013 10:08pm | Edited 10:27pm
Quoting Ishtana
Man I hate it. I kept losing using SM method. Which part of his teaching is right and is wrong? I really need to know this guys. It's becoming quite frustrating now. M&W are getting less visible and less accurate. And how do you guys identify the peak formation? Do you need another lock to make it a firm peak formation? And a PF isn't really considered as a PF unless there is a lock in it? ...

So idealy I will want to see a Stop Hunt to the downside with a W for a confirmation that the LONG is a good play. If it drops hard and never consolidates it's a NO TRADE. I am looking for a hesitation around the 200ema or the Prev LOD on the 15m that would be the 50ema on the 1hr or the light blue line on this chart. Never buy a falling knife. Would you try to catch one with bare hands? NO so why trade one.
Attached Image (click to enlarge)
Click to Enlarge Name: eu-1hr.gif Size: 54 KB
  • #1,140
  • Feb 20, 2013 6:07am Feb 20, 2013 6:07am
Eu on the 200ema 15m now, TDI oversold, M2 in range looks to like a confluence point is setting up. Just need a hesitation bounce now.
0 traders viewing now