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  • #1,261
  • Edited 2:28am Mar 26, 2013 2:01am | Edited 2:28am
Quoting mmaker
Please post your Myfxbook link when you are profitable with this Method.
Unfortunately my real account is still red and I don't think there is hope to recover the losses. I'm practicing the Hi-Lo Drills as seen in the videos with occasional good results. But most times I took losses.
Attached Image(s) (click to enlarge)
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  • #1,262
  • Mar 26, 2013 2:14am Mar 26, 2013 2:14am
me too Anyone, why I stopped trying. Doesn't mean it won't make money, just not me.
As far as I am aware (I used to have a MYFXbook account) the account doesn't have to be an EA to record results. Apparently, for educators, it only records successful accounts....
  • #1,263
  • Mar 26, 2013 2:17am Mar 26, 2013 2:17am
Hey Russ, are all those trades that show up in your "Open Trades" section when clicking on your username...trades that you're actually in right now?

Best,
Neo
Sentiment: Short on cash. Long on hope.
  • #1,264
  • Mar 26, 2013 2:29am Mar 26, 2013 2:29am
Every last one Neo. Have started a new idea.
  • #1,265
  • Mar 27, 2013 12:42am Mar 27, 2013 12:42am
Nice stuff...and thanks for posting your trades like that, I appreciate it.

Kind Regards,
Neo
Sentiment: Short on cash. Long on hope.
  • #1,266
  • Mar 27, 2013 6:08am Mar 27, 2013 6:08am
Hello everyone,

After lurking in this particular thread for a few weeks (I've read nearly all the pages) I've decided to jump into the discussion. Someone mentioned Martin Cole and I've since watched his entire MMM series on youtube (save for a few PAT software videos). I've been studying under the SM BTMM method previously but found MC's to be more relatable, understandable and ultimately more helpful to me personally. I also like that he goes into the psychology of trading, as well as an overall very basic outlook of the whole thing (and keeping it simple). Mostly I like that he offers it free, but let's not get into that.

Anyway, I've been watching the posts in here about PF, levels, and people's response to each other over the past few days. I've marked up my chart 1H timeframe for E/U that is currently happening for you guys to take a look at and would like to see if it's in line with the general idea of PF and levels etc.

Basically, my thought process for this chart is:
The first box is a W PF (2nd leg approaches the lvl of the 1st leg but doesn't break it)
Level 1 marked, uptrend followed by consolidation
Lvl 2 uptrend, leads into a little bit of retrace and then
PFH - half batman

So now would be the midweek reversal correct? Huge correction, consolidation, then it will get really aggressive as we approach the 3rd level?


I look forward to your response, and please keep it simple. I am a noob.

Thank you in advance
Attached Image (click to enlarge)
Click to Enlarge Name: mychartEU.jpg Size: 297 KB
  • #1,267
  • Edited 3:16am Mar 28, 2013 2:28am | Edited 3:16am
Quoting anyone
Unfortunately my real account is still red and I don't think there is hope to recover the losses. I'm practicing the Hi-Lo Drills as seen in the videos with occasional good results. But most times I took losses.
Today was one of those rare days where my Hi-Lo Drills made money. Instead of posting pictures, I have customized my TradeExplorer to show today's trades only (most days I lose). Hopefully we can figure this method and improve on the win rate, and Hi-Lo Drill is the way to go.

http://www.forexfactory.com/anyone#95-list
Attached Image(s) (click to enlarge)
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  • #1,268
  • Mar 28, 2013 3:02am Mar 28, 2013 3:02am
Good going anyone, I hope your success has legs (and runs with you on board).
nightshade, it looks like a mess. With all the talk of Cyprus etc, is there any wonder. I have it close to you with the 3 rises, but no way I could point at the "top" and say there was mm activity there. The gap down at "level 2" could be described as a stop hunt though. On the 15 min I described what I would in hindsite see as a better SM pattern, but that is weak too. (see earlier).
There is a rather pathetic looking shark fin on the TDI (circled) too.
Attached Image (click to enlarge)
Click to Enlarge Name: EU_SM_280313.png Size: 261 KB
  • #1,269
  • Mar 28, 2013 3:07am Mar 28, 2013 3:07am
Quoting Trader MT4
Hello friends,
(Jaoborras, Ishtana, FX-Trader)
Did I correct find PFH and PFL on Weekly Cycle (1H)?
Hi Dan. I am sorry for my late reply. sorry for that!
I think your PFs are good. I tend to look at PF the same way, I mean, an area where the price came, kind of congests a bit then pull away with the shift bar.
Next day or session, if I see this price action behind me, I tend to trade away from it.

But, be aware that every PF is always a "potential" PF. Meaning that it can be retested later on and, eventually, can be broken.
When price approaches an old "tentative" PF, was have to observe if it will hold or not, looking for candles showing rejection(meaning that the PF will hold) or acceptance(absorption of the orders stacked there), meaning that it will, probably, not hold.
If we remember that PF are areas where supply was bigger than demand and vice-versa, than I think it is easier to understand.

Here is an example with cable:

Attached Image (click to enlarge)
Click to Enlarge Name: cable 15min - potential PFH example.jpg Size: 203 KB


Hope that helps!
  • #1,270
  • Mar 28, 2013 4:04am Mar 28, 2013 4:04am
As a kind of follow up on the previous post, I took a short on cable when it was retesting the potential PFH from yesterday.
I closed for +30 but, as you can imagine, 5min later it ran the 50 pips... well, that's ok. Even because it is retracing a bit right now. :-)

Here is the chart.

Attached Image (click to enlarge)
Click to Enlarge Name: short cable example.jpg Size: 191 KB


Cheers!
  • #1,271
  • Mar 28, 2013 7:44am Mar 28, 2013 7:44am
I would like to put some charts with some comments.
The 1st is the euro today, showing how we can trade "potential" PF. There are comments in the chart but it is basically that the price could not violate yesterday's low. Also, from the week's high to yesterday's low, there was 300 pips. And because today is Thursday already, makes up for a strong possibility it was the LOW.
Here is the chart:

Attached Image (click to enlarge)
Click to Enlarge Name: euro 15min PFL.jpg Size: 225 KB


Here is the eurgbp. What I would like to show here is the clear and strong pull back it had today, making a possible PFL. With this, allied with the shift in the eurusd, can make a case for next move to be up.
Here is the chart:

Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp 15min.jpg Size: 206 KB


It is only an opinion. Love to hear from you guys, comments and corrections.

Cheers!
  • #1,272
  • Mar 28, 2013 11:13am Mar 28, 2013 11:13am
Quoting russss
Good going anyone, I hope your success has legs (and runs with you on board).
nightshade, it looks like a mess. With all the talk of Cyprus etc, is there any wonder. I have it close to you with the 3 rises, but no way I could point at the "top" and say there was mm activity there. The gap down at "level 2" could be described as a stop hunt though. On the 15 min I described what I would in hindsite see as a better SM pattern, but that is weak too. (see earlier).
There is a rather pathetic looking shark fin on the TDI (circled) too.
So should we be staying away from the Euro then?

Based on the chart I posted, this morning about 2 am, I saw the 2nd stop hunt (or top of 2nd leg form) and jumped in a short trade real fast, which it proceeded to vector down significantly...about 30 pips in one bar. (also put a trade on the G/U with a very similar looking setup). I wasn't sure when to get out so I stayed about another 15m and it started to turn up. If I had gotten out on the end of that bar it would have been about 50 p between the two pairs, but I closed with about 20-25p instead.

By the way, if any of my terminology is wrong, please correct me.
Attached Image (click to enlarge)
Click to Enlarge Name: EU2013-03-28 02:13:21.png Size: 97 KB
  • #1,273
  • Mar 28, 2013 11:16am Mar 28, 2013 11:16am
Quoting russss
Good going anyone, I hope your success has legs (and runs with you on board).
nightshade, it looks like a mess. With all the talk of Cyprus etc, is there any wonder. I have it close to you with the 3 rises, but no way I could point at the "top" and say there was mm activity there. The gap down at "level 2" could be described as a stop hunt though. On the 15 min I described what I would in hindsite see as a better SM pattern, but that is weak too. (see earlier).
There is a rather pathetic looking shark fin on the TDI (circled) too.
Ok, I took a look at your scribblings...yes I see it now.
  • #1,274
  • Mar 28, 2013 11:27am Mar 28, 2013 11:27am
Quoting joaoborras
Hi Dan. I am sorry for my late reply. sorry for that!
I think your PFs are good. I tend to look at PF the same way, I mean, an area where the price came, kind of congests a bit then pull away with the shift bar.
Next day or session, if I see this price action behind me, I tend to trade away from it.

But, be aware that every PF is always a "potential" PF. Meaning that it can be retested later on and, eventually, can be broken.
When price approaches an old "tentative" PF, was have to observe if it will hold or not, looking for candles showing...
Cool I took that same trade too! It's kinda small but hopefully you can see the entry point.

On another note, we took the exact same trade, but why are our charts different? Are live charts different than demo?
Attached Image
  • #1,275
  • Mar 28, 2013 11:52pm Mar 28, 2013 11:52pm
Quoting nightshade
Cool I took that same trade too! It's kinda small but hopefully you can see the entry point.

On another note, we took the exact same trade, but why are our charts different? Are live charts different than demo?
Well, should not be different as the quotes are the same or not much different.
Anyways, what is the difference you are seeing? Please post a bigger chart so we can see the pair(I know you are talking the cable), date and price(Y axis on the left of your charts).
  • #1,276
  • Mar 28, 2013 11:53pm Mar 28, 2013 11:53pm
Quoting nightshade
Cool I took that same trade too! It's kinda small but hopefully you can see the entry point.

On another note, we took the exact same trade, but why are our charts different? Are live charts different than demo?
Oh! sorry, the Y axis is there. :-)
so, what is the difference you are seeing?
  • #1,277
  • Mar 29, 2013 12:50am Mar 29, 2013 12:50am
Here is my readings on euro cycles and levels today.

Attached Image (click to enlarge)
Click to Enlarge Name: euro levels and pushes.jpg Size: 248 KB


Maybe nothing will happens today because banks in both europe and US are closed for holidays.

Please, any comments are very welcome!

Cheers!
  • #1,278
  • Mar 29, 2013 10:34am Mar 29, 2013 10:34am
Quoting joaoborras
Oh! sorry, the Y axis is there. :-)
so, what is the difference you are seeing?
I see it now... I think the charts skew depending on how you have them set up... it was also around 4am when I was posting...haha
  • #1,279
  • Mar 29, 2013 10:36am Mar 29, 2013 10:36am
Can anyone point me to some videos of live trading, even on a demo acct... I'd like to get more insight on the thought process of this M&W method...also what every tool does... I only just learned that you can modify your order and how to do that...surprising many of these teachers we pay thousands for don't even start with the basics.
  • #1,280
  • Edited 12:22pm Mar 29, 2013 12:09pm | Edited 12:22pm
Quoting nightshade
Can anyone point me to some videos of live trading, even on a demo acct... I'd like to get more insight on the thought process of this M&W method...also what every tool does... I only just learned that you can modify your order and how to do that...surprising many of these teachers we pay thousands for don't even start with the basics.[not true]
If you're referring to MT4 basics, you can find many how-to videos on Youtube. Just do some searching, don't be lazy. You can even call your broker for a walk-through session since they earn your spreads and commissions, and all brokers have online MT4 tutorials. If you're referring to Steve Mauro course, the first day (or Day 0) is dedicated to MT4 basics and how to use all the scripts in the Student Folder. You often hear students talk about 4+1 days course (instead of 4-days or 5-days), because of that one additional basic training. Entry and Exit are done through scripts, drag-and-drop into the chart, seldom required order modification. Students who attended live classes obviously get better hands-on help when they brought along their laptops, CompassFX staff were very helpful with the basics.
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