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Help Me Establish The GbpUsd After Dinner Club 40 replies

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The Club!

  • #5,881
  • Edited 5:37pm Aug 24, 2013 5:25pm | Edited 5:37pm
Quoting TraderPablo
{quote} here we go.... 01-08-13 08:38 AM I was invited to attend a free Forex webinar conducted by MTI - Market Traders Institute out of Florida. While the presentation seemed somewhat professional, it all seemed too good to be true and reminded me allot of OTA's PTWs - Power Trading Workshops. In other words a lot of fluff and their product is very expensive. So before joining them, I was wondering if anyone out there has had any experience with these guys.
#5877

Search engine and use your brain a little more could be an advantage sometimes...no doubt, don't you think so?
e.g. "Market Traders Institute Florida ctitics"

http://www.complaintsboard.com/compl...a-c390975.html
http://www.ripoffreport.com/r/Market...oftware-286012
http://www.forexpeacearmy.com/public...kettraders.com
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  • #5,882
  • Aug 24, 2013 5:32pm Aug 24, 2013 5:32pm
Quoting PipTrapper
{quote} You owe me some dry cleaning expenses. I pissed myself laughing
send me the bill..i have to pick mine up as well...that was too good..the last guy's comment.....its a "wiener" sorry winner...
  • #5,883
  • Aug 24, 2013 5:39pm Aug 24, 2013 5:39pm
Quoting TraderPablo
{quote} here we go.... 01-08-13 08:38 AM I was invited to attend a free Forex webinar conducted by MTI - Market Traders Institute out of Florida. While the presentation seemed somewhat professional, it all seemed too good to be true and reminded me allot of OTA's PTWs - Power Trading Workshops. In other words a lot of fluff and their product is very expensive. So before joining them, I was wondering if anyone out there has had any experience with these guys. Pro/con I would like to hear it. There are a lot of gimmicks out there, I want to be sure...
Pablo, many many thanks my friend!

I'm so happy to have you dear FF members as a community standing here along.

Great. Final judgement on the way. But still would be great to find out someone who really bought the stuff to finally classify as pure scam.

I see more and more of these automated stuffs and I'm seriously wondering when some of these may turn profitable...

I do still believe that the curves are predictable at 80%, with a mechanical logic behind, but in 20% the move is completely "artistic", then only reaction of the trader can be efficient.

Really guys, I see more and more of these stuffs everywhere around. Must be at least one working. Or will soon.
Why would someone sell it? Because not everyone has the knowledge to maintain or even drive the tool, while anyone can sell soap a make a few bucks of commission. Let's say you have a system, and are already taking full profit of it, why not hedging a bit of the little remaining bugs with a sale network? And guess what, the more you sell and the more orders will hit the market same direction that your system, increasing your own direction decision. Remember George Soros? His very first theory about move auto fed by itself ?

Appreciate a lot your kind input guys
  • #5,884
  • Aug 24, 2013 5:42pm Aug 24, 2013 5:42pm
Quoting PipTrapper
{quote} MT4 and MT5 are just not capable enough to do such things... Neither is your PC. How do you expect a PC with rinky dinky windows based software to perform at the same level as the bank's multi-million dollar trade analysis systems? It's just not possible yet. You would need a processor farm just to handle the algorithms required to analyse all the chart patterns. An experienced trader can pick out a trading signal in a few seconds to a few minutes of visual analysis with or without some aids from technical indicators, but a robot would have...
Thanks for the education....
  • #5,885
  • Aug 24, 2013 6:00pm Aug 24, 2013 6:00pm
Quoting Forexcube
{quote} #5877 Search engine and use your brain a little more could be an advantage sometimes...no doubt, don't you think so? e.g. "Market Traders Institute Florida ctitics" http://www.complaintsboard.com/compl...a-c390975.html http://www.ripoffreport.com/r/Market...oftware-286012...
Dear ForexCube,

Ripoff report is now saying business accredited.....

http://www.ripoffreport.com/r/Market...pport-a-661506

Did they take a U turn ?

I mean after 19 years of attempting to run a business, would have them finally reached some basics ?
  • #5,886
  • Aug 24, 2013 6:36pm Aug 24, 2013 6:36pm
Quoting PipTrapper
{quote} I figured I'd give you a heads up because you posted the same thing with links to a commercial product in multiple threads. That generates a red flag for the FF moderators and the self-appointed undercover cops they have roaming the threads in invisible mode. If one of them suspects you are spamming, they will suspend you. That's all I'm saying. Anyway, regarding the product, if someone really had a great robot that would really make consistent profit in the long run, do you really think they would spend all their energy flogging it to retail...
Pips, you've just killed my hopes of building my own code to manage my trades Dear....

Really? You have already attempted to code some stuffs and no way to take any profits out of it ? I mean even some basics stuffs like trailing a trend ? I had this idea with my current trading on the NZDUSD. I was thinking, If I could set-up an automated stuff to follow-up the sequences of little ups, then little dives, let's say on a M15 time frame to ensure all bounces never crosses last bottoms in main cases, then a code should be able to fill-in shorts and little buys during counter trend. Analyse of the RSI, MACD and Parabolic SAR + last level/new levels already good to start with orders auto-fill.

With your background, pips, please tell me that at least you have some automated sequences on your MT4 or MT5 to at least enter or exit depending on some variables. I mean, don't you currently make use of ANY scripts ???

Sorry to insist, but since I'm a big fanatic of xls & VBE, I do definitely see more and more possible coding in the trading area with the MT4/MT5 tool.

To tell you the truth, each time I'm entering or ending a trade, I'm telling to myself: why should I stay here looking at this chart when a code may take the same decision based on the indication I'm relying onto myself. You know, if this, then that...

Pips, please tell me that, at least, some of your EA's are able to perform some basic action so you can move away of your screen when you're waiting for something to happen, but may not be there to action.

Also, I really appreciate the info about your programming background, and I really find that your opinion if really worth and perfectly makes sense.

There is one thing I'd like to know from you: did you already had a look into that famous "Sonic R. System", thread here in FF, and if yes, in regard to your programming background, what do you thing of it ? There is clearly a buy sell indicator coded in there, that may be used to auto feed orders.

What do you think of that ?

(sorry to bother again with my quest of autopilot tool, but your opinion is really much appreciated)
  • #5,887
  • Aug 24, 2013 11:35pm Aug 24, 2013 11:35pm
Just thought i chip in my own forex analysis here.

Inserted Video
  • #5,888
  • Edited 1:49am Aug 25, 2013 1:33am | Edited 1:49am
Quoting infinitus
{quote} Hi PT, the higher the TF the bigger the swing. OK, let us say you see divergence on 15min, but not yet on 1h, that can have two reasons: a) the wave is not yet in a wave 5 on 1h TF b) the wave is too short for a 1h TF Especially when scalping on low TF, we have oftentimes the problem, that we do lookm at too high TF. Hence the suggestion with the 120-140 bars. OK, next: (take it as explaining example) imagine a wave 5 of 5 of 5 the last 5 you may see with divergence on 1h TF the middle 5 you may see divergence on 15 min the first 5 you may...
You know so much about Divergence then what issue you have playing the divergence.

all I can say you are going by the book to spot it.....and that is wrong . I have mentioned long time ago how to know when the divergence is going to play out...right time ... Right place... Practise TF is 5 minutes. My favorite is 1 hr and 4 hr for intraday /week.
Tip: look at the indicator first then the price chart not the other way around.(this is the key)
I sound like I am preaching you divergence but I am just repeating myself here about divergence.
to simplify things look to the left of the price chart where it should begin and where it should end.
for the time frame it depends if you are scalping 5 pips then 5 minute is your chart. If intraday then 1 -4 hr.
i can play all day 1-5 minute chart divergences..... And I would be making broker wealthier by trading them... Why would i do that to my self?
Markets are not Random, they are designed!
  • #5,889
  • Aug 25, 2013 2:32am Aug 25, 2013 2:32am
Quoting PipTrapper
IMF's LaGarde: "And I'm crossing fingers for the eurozone..."
Yes, even the IMF are admitting that it's hold & pray for the Euro at this point. When you consider that the Troika/ IMF types usually just make positive news up, things are even worse than I thought!
  • #5,890
  • Aug 25, 2013 3:04am Aug 25, 2013 3:04am
Quoting PipTrapper
{quote} So you are back home now, or just back down at wave 4? ...and why pyrrhic? Did you hurt yourself? or are you referring to the fact that you have to go back for your equipment?

I am back in the Gnifetti hut, luckily.

Pyrrhic, because I have to sacrifice another half of a day for this ice peak to collect my material
  • #5,891
  • Aug 25, 2013 3:10am Aug 25, 2013 3:10am
New bearish fan from 5715. Time of opening the market for the new week.
MT4 after opening and receiving the first data will be "removed" during the weekend. It makes no sense to me to make changes on the graph. Everything will awake distorted. H4 tables are made to automatically calculate the current date. So I do not have and calculated values ​​for the levels.

So at the time of opening, and the first 4 hours importantly levels are 5560 and 5538.

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"You have to BE before you can DO, and DO before you can HAVE." Zig Ziglar
  • #5,892
  • Aug 25, 2013 3:32am Aug 25, 2013 3:32am
Quoting Sober_Colm
{quote} Thank you for the explanation & the links. I thought the basis of Gann was to draw a 1x1 from a specific point & take it from there, I didn't realise the specific start date was so important. In moving from math towards astrology I become a little sceptical. Didn't Gann lose a lot of his fortune though trying to tie astrology to the markets (one of a number of Gann scenarios I've seen)? I would definitely be happier if the price & time relationships were purely mathematical but so far your price-time analysis has been spot on so I will continue...
Sober_Colm, You made me go back and look "pretty" graphics of previous squares. Here's what I found. The first graph is animated. You need to click on it.
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"You have to BE before you can DO, and DO before you can HAVE." Zig Ziglar
  • #5,893
  • Aug 25, 2013 3:44am Aug 25, 2013 3:44am
Good morning Raza,

there you have understood me wrong - I have no issues with trading the divergences. In fact that is one of my key concepts to take a trade.

But I have been around long enough to have witnessed, that there are, from time to time, very long lasting divergences. I have seen divergences on e.g. 1h TF, that went 150 pips against me, and when price came back, it creped very slowly sideways with small back and forth, in this way recharging momentum, and my BE was never met, infact the loss was around 100 pips. This only for example.

Once I have studied divergences on 5min, 15min, 60min, 240min and daily TF. I marked the points where divergence showed up, then measured the way price moved in divergence, then, when price had turned, measured the distance, price went into my profit zone.

I did this for hundreds of cases on all TF's

The result was disillusioning:

I have not the exact numbers here, but from my memory:


5min TF divergence 5-8 pips

15min TF 12-15 pips

1h TF 20-40 pips

4h TF 40-60 pips average gain


the disillusioning part was, that the R:R was bad. There were many situations, where price went very deep into the divergence and never made it back.


Especially dangerous are divergences that do occur in strong momentum waves as can be seen in wave 3 or wave C's, especially wave C's of a wave B. Here we see very often long lasting divergences, and when you enter the trade too early, you are doomed.



How can we avoid such things or get the probability back on our side?


There are a few answers to that question:



a) MTF analysis - as described in my prior postings; wait, until divergence occurs on MTF;

b) do not use divergence as the sole factor for a trade. Look for divergences around S/R (if there is no meaningful S/R - do not take the trade)

It is up to your discretion how to determine the S/R. I do use various methods like Murrey Math, Market Profile and pure price action S/R or daily Pivots with their S/R's



Quoting Raza
{quote} You know so much about Divergence then what issue you have playing the divergence. all I can say you are going by the book to spot it.....and that is wrong . I have mentioned long time ago how to know when the divergence is going to play out...right time ... Right place... Practise TF is 5 minutes. My favorite is 1 hr and 4 hr for intraday /week. Tip: look at the indicator first then the price chart not the other way around.(this is the key) I sound like I am preaching you divergence but I am just repeating myself here about divergence....
  • #5,894
  • Aug 25, 2013 3:56am Aug 25, 2013 3:56am
Quoting godim
{quote} Sober_Colm, You made me go back and look "pretty" graphics of previous squares. Here's what I found. The first graph is animated. You need to click on it. {image} {image}
Some time ago, when I showed that price range has shrunk, I showed this chart. These are the squares of quarters.
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"You have to BE before you can DO, and DO before you can HAVE." Zig Ziglar
  • #5,895
  • Aug 25, 2013 4:37am Aug 25, 2013 4:37am
Quoting godim
{quote} Some time ago, when I showed that price range has shrunk, I showed this chart. These are the squares of quarters. {image}
Ah yes, now I see how time & price are related on your charts & where you are getting your major s/r from. Great stuff, thanks for that.
  • #5,896
  • Aug 25, 2013 4:43am Aug 25, 2013 4:43am
Quoting twrayner
Just thought i chip in my own forex analysis here. http://www.youtube.com/watch?v=bnhk352dETw

Who needs MTI when we have Rayner
Those who say it cannot be done should not interrupt those who are doing it
  • #5,897
  • Aug 25, 2013 5:03am Aug 25, 2013 5:03am
Quoting twrayner
Just thought i chip in my own forex analysis here. http://www.youtube.com/watch?v=bnhk352dETw



Hope to read more from you
  • #5,898
  • Aug 25, 2013 5:27am Aug 25, 2013 5:27am
http://www.zerohedge.com/news/2013-0...ebels-revealed

Mystery Sponsor Of Weapons And Money To Syrian Mercenary "Rebels" Revealed


some weeks old but very good reading
  • #5,899
  • Aug 25, 2013 8:39am Aug 25, 2013 8:39am
Quoting PipTrapper
{quote} Who needs MTI when we have Rayner
Lol
Is there any autopilot mode available?
  • #5,900
  • Aug 25, 2013 10:35am Aug 25, 2013 10:35am
Quoting Delta1One
{quote} Dear ForexCube, Ripoff report is now saying business accredited..... http://www.ripoffreport.com/r/Market...pport-a-661506 Did they take a U turn ? I mean after 19 years of attempting to run a business, would have them finally reached some basics ?
#5885

Come on man, go with your spam sh*t down the tube!
It's really not necessary to comment this statement any more!
It's not a commercial threat here! Do you understand me now!
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