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  • #1,361
  • Apr 17, 2013 2:31am Apr 17, 2013 2:31am
To borrow from Police Academy for a sec: many many good points there mmaker! Once again. A couple of things to consider (I am being mentored at the moment by a guy who has a long trading history and have "learned" quite a lot).
We trade both EU and UChf (that is how to solve the UC confusion.... USDCAD is UCad) and many of the Yen pairs because it adds to the diversity, albeit a small addition, but also facilitates scaling into a position. Also, in times of uncertainty, they can hedge each other. In fact, my mentor even trades the 4hr on 4 different brokers with different broker times (so he trades 4hr charts every 1hr). This also facilitates scaling in and out. This is very time intensive but he has begun automating it. just some thoughts....
Also, to comment on your monitor discussion, I have been trading off my laptop with an HDMI connection to a 42 inch TV. I can fit many, many charts on it. I do have it a little further away than my monitors though. Put 1 chart on it and you don't need to go to higher time frames for the "Big Picture" as there is plenty of data there. Also a TV is much cheaper than the equivalent in monitors (4?) and you only need 1 computer to run it. Quality is slightly worse though. Try it....
  • #1,362
  • Apr 17, 2013 2:37am Apr 17, 2013 2:37am
"You will not want to miss joining Steve LIVE in the market"... Live? In the market? Never seen him trade live ever. Even his students kept complaining about this too.

I would love to trade with 2 monitors. I'm barely surviving with an income as a musician. The trick I used when I was trying to make sense of fractional disparity with one monitor is to open multiple brokers demo account and put different crosses and majors on all of them. And while you're trading, you simply alt-tabbing between the demos. That way you can see the movement about 10+ pairs at one time. That's the best I could do without multiple monitors.

I think if you can't make money with one monitor, having two ain't gonna help.

Yesterday was a real shock. 15+pips to a 25-pips SL in less than an hour. I didn't see it coming. I thought price was about to make a third leg. Quite a long way to go =(
  • #1,363
  • Apr 17, 2013 3:37am Apr 17, 2013 3:37am
Quoting russss
Also, to comment on your monitor discussion, I have been trading off my laptop with an HDMI connection to a 42 inch TV. I can fit many, many charts on it. I do have it a little further away than my monitors though. Put 1 chart on it and you don't need to go to higher time frames for the "Big Picture" as there is plenty of data there. Also a TV is much cheaper than the equivalent in monitors (4?) and you only need 1 computer to run it. Quality is slightly worse though. Try it....
This is from David Kushner and the middle Sony screen should be a wall-mounted TV. He squeezed 8 charts on it but being on the wall it is quite a distance away from the desk and seat. Notice the MMFx/BTMM templates on all the charts.
Attached Image (click to enlarge)
Click to Enlarge Name: DavidKushner.jpg Size: 325 KB
No longer trading forex. Looking for full time job.
  • #1,364
  • Edited 5:18am Apr 17, 2013 4:54am | Edited 5:18am
Quoting JohnW
I think you have come across the irrefutable point.
I was lucky again today, grabbed two 60pips winners on GJ and EJ and 40pips on EU. I know something I did was right (on winning days) and something I did was wrong (on losing days). I must figure out this problem or I will not last
http://www.forexfactory.com/anyone#95-list
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GJ 62pips.png Size: 23 KB
Click to Enlarge Name: EJ 61pips.png Size: 25 KB
Click to Enlarge Name: EJ 36pips.png Size: 23 KB
Click to Enlarge Name: EU 40pips.png Size: 25 KB
  • #1,365
  • Edited 2:53pm Apr 18, 2013 5:42am | Edited 2:53pm
Quoting anyone
I was lucky again today, grabbed two 60pips winners on GJ and EJ and 40pips on EU. I know something I did was right (on winning days) and something I did was wrong (on losing days). I must figure out this problem or I will not last http://www.forexfactory.com/anyone#95-list {image} {image} {image} {image}
Took my two losses in EJ and GJ today. I was correct in the long Yen bias, sort of continuation trade or StraightAway Trade or Jim's AwayFromPeak Trade, but (impatiently) entered in the middle of some sideways choppy action during London open. Could have scored another 60-100pips winners but better luck next time. At least I learned to keep this week's gains intact despite today, on target to end this week positive.

http://www.forexfactory.com/anyone#95-list+trade9558057
http://www.forexfactory.com/anyone#95-list+trade9558036
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EJ loss.png Size: 26 KB
Click to Enlarge Name: GJ loss.png Size: 25 KB
  • #1,366
  • Apr 19, 2013 3:41am Apr 19, 2013 3:41am
I lost so much money today I had to shut down my TradeExplorer, too embarrassing to see even for myself. Sorry guys, since no one else is showing their TradeExplorer I shall keep it private until I become profitable.

Have a nice weekend!
  • #1,367
  • Apr 19, 2013 3:44am Apr 19, 2013 3:44am
Quoting anyone
I lost so much money today I had to shut down my TradeExplorer, too embarrassing to see even for myself. Sorry guys, since no one else is showing their TradeExplorer I shall keep it private until I become profitable. Have a nice weekend!
Hi anyone!
You are kidding, right? :-)
Your trades are really good! You always show big runs in your trades.
Which pairs was you trading today?

Cheers!
  • #1,368
  • Apr 19, 2013 3:49am Apr 19, 2013 3:49am
It happens. Even the best trade returns can be given back due to leverage. I like the way some of the guys in Steve's group teach leverage and risk management. Most fx training doesn't even touch this aspect and any pro will tell you its the FIRST thing to master. Even shit traders can keep a positive equity curve if they work out risk management and don't chase trades when they take a hit...
  • #1,369
  • Edited Apr 20, 2013 11:16am Apr 19, 2013 11:48pm | Edited Apr 20, 2013 11:16am
After a while, people will start to realize that either Steve's method don't work (just another marketeer earning seminar fees) or Steve can't teach (assuming he did make his money from trading). Either way this thread has lost it's lead, and there is no one consistently profitable guru or follower who can provide the kind of interest and momentum going forward. It's quite a unique thread in that the thread starter/originator no longer participates and even when there is no resident guru, people still think this method works and willing to put in the time to study and "master" this method despite various warnings and negative testimonials from students who actually paid for the $5,150 course and participated in its private student forum for over 2 years and seen everything there is to see from within the group.

For the 1,147 MMFx/BTMM students who are lurking and reading this thread with curiosity, please help to contribute your honest reviews and testimonials at FPA. People need to know the truth before the next course begins. Here's a site dedicated to following up on his court cases, http://marketmakercourtcase.com/

For those who have lost their money and time studying this method, maybe take a break and see if Jack Larkin's advice can serve some motivation to pursue your goals in forex in another direction,
So you want to become a professional trader?
No longer trading forex. Looking for full time job.
  • #1,370
  • Apr 27, 2013 11:31pm Apr 27, 2013 11:31pm
Works for me. Perhaps you would do better spending your time studying, rather than whining like a 6 year old.
  • #1,371
  • May 18, 2013 7:29am May 18, 2013 7:29am
What do think about this weekly structure......
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd 18.05.13 weekly structure.png Size: 34 KB
$$ Buy @ Lod & Sell @ Hod $$
  • #1,372
  • May 18, 2013 7:35am May 18, 2013 7:35am
My usdchf 16.05.13 safety trade and W trade......
Attached Image (click to enlarge)
Click to Enlarge Name: usdchf 16.05.13 safety trade.png Size: 41 KB
$$ Buy @ Lod & Sell @ Hod $$
  • #1,373
  • May 20, 2013 10:54am May 20, 2013 10:54am
Quoting djmoloy71
What do think about this weekly structure...... {image}
You weekly is in line with my thinking, SHL RISE. Trap made at the LOW with all the pins.
  • #1,374
  • May 20, 2013 10:58am May 20, 2013 10:58am
Quoting djmoloy71
My usdchf 16.05.13 safety trade and W trade...... {image}
I think this more falls into the cord of wood or A top camp then a saftey since it didn't make a second leg. Shark fin was there to help out, but I personally wouldn't call it a saftey trade.
  • #1,375
  • May 20, 2013 12:43pm May 20, 2013 12:43pm
Quoting FX-Trader
{quote} You weekly is in line with my thinking, SHL RISE. Trap made at the LOW with all the pins.
yep... we saw some Stop Hunting in early Asian session and then a straight rise...... our prediction was correct but no entry signal was there though.....
$$ Buy @ Lod & Sell @ Hod $$
  • #1,376
  • May 21, 2013 8:40am May 21, 2013 8:40am
Hmm.. From memory there were at least 80 pages on this thread. How did it get trimmed to 69?

Neway, what I've gathered so far is that SM teaching is apparent only when it has happened. Flash card, chart study, etc. Yes. But the "variation of the theme" really keeps me guessing. Is this another way of saying that this system doesn't have a fixed entry and exit?

And I notice that the occurrence of SM pattern is quite rare. It's easy for some of you to say that this method works, but when it comes to using real money, finding exact entry and exit point are not easy to do.

 

  1. When you're about to make a safety trade, how do you know that price won't make a third/fourth leg, or even resetting at the PF?

  1. Steve doesn't say anything about weekend gap? Does it mean it is a reset or continuation of cycle?

  1. Would a spike be considered the first/second/third/fourth/fifth ... leg? e.g. A W forms and a spike forms a third leg, is that still a valid long entry.


Also it's quite snobbish to say that this method works, to tell us all to stop whining, and say absolutely nothing about how the method has worked for you. If you were in my position, investing day and night studying this method, losing real money applying it, you wouldn't be too happy about someone saying stuff like that.

  • #1,377
  • May 21, 2013 8:47am May 21, 2013 8:47am
I'm beginning to think that if we do a complete opposite of what SM says, this could turn out to be a good trading system.

Anyone trading the EU today?
Attached Image
  • #1,378
  • Edited 11:13am May 21, 2013 10:58am | Edited 11:13am
My W trade on eurusd on 21.05.13.... It also can be called a safety trade.....
Attached Image (click to enlarge)
Click to Enlarge Name: eurusdm 21.05.13 w trade.png Size: 38 KB
$$ Buy @ Lod & Sell @ Hod $$
  • #1,379
  • Edited 11:17am May 21, 2013 11:03am | Edited 11:17am
Quoting Ishtana
I'm beginning to think that if we do a complete opposite of what SM says, this could turn out to be a good trading system. Anyone trading the EU today? {image}
Just keep everything simple..... our bias is to the upside because the PFL was set by the dealer previous week.... look at my previous post of weekly structure......
$$ Buy @ Lod & Sell @ Hod $$
  • #1,380
  • Edited 9:10pm May 21, 2013 8:59pm | Edited 9:10pm
Hm.. How can you based your bias on HOW & LOW?

I've been with Steve for a while now, and weekly cycle (tuesday/wednesday/thursday mid-week reversal) is one of the concepts that I already have strong evidence against with. Look at every week for the past month and you'll notice HOW & LOW kept getting reviolated.

Even GU had the same PFL, yet it was reviolated yesterday after the news.

And you seem to be diligent with your level counting. Do you use it extensively? Almost everyone active in this thread are against level counting.
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