M&W-Trading | Page 79 | 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

  • #1,561
  • Aug 6, 2014 7:50am Aug 6, 2014 7:50am
Quoting NeoRio
Hey Caledrone! Nice to see you! I've followed every post on your new thread, BTW, but since I was branded a commercial member several years ago, I can't post to most threads. I've written FF multiple times letting them know I don't sell anything and I'm not commercial, but I get no answer. I enjoyed interacting with you and your simplistic approach to trading. I've posted hundreds, maybe thousands of posts to the FF over the years...and now not to be able to contribute to normal threads is a bit of a let down, so I've focused on my 2 Skype rooms...
Glad you're doing well! I'm still doing the same old thing. The only gripe I have lately is that volatility is down compared to how it used to be. If you compare daily range from what it was several years ago-it's crazy. I get bored and start playing with different things. I even have a statistical arbitrage ea I play with. I've just been testing it but it seems to do better on longer time frames like the daily and especially the weekly. I have a lot to learn about that stuff but it's really just a hobby.

Yeah, I miss you posting in the other threads. I have pretty much abandoned my own threads. Sometimes I will post but I never mention setups or what I'm doing. I might post in someone else's thread if I have time and it is interesting to me. But overall, I just want to find my setup and get out to the beach etc. lol

I'm rambling..anyway. I will follow you here. Stay in touch.

Mike
  • #1,562
  • Aug 10, 2014 10:03am Aug 10, 2014 10:03am
What's the possibility that before Steve's mentor passed that he taught the method to someone else?
  • #1,563
  • Aug 19, 2014 6:41am Aug 19, 2014 6:41am
Heh guys, not sure where else to post this - if you can redirect would appreciate.

Has anyone heard or know of the 'real' statistics of the lastest Compass FX offering and 'Institutional' trading with Ray?

They seem to lurch and parasite from one so called expert to the next and make a healthy commission before they burn and fade .... steve mauro and others
and from some postings on Mr Patterson which look up to date and genuine he also now has lost client funds over last 6 months???

Why does no one talk about this and Compass just keep marketing and selling this stuff with all the latest buzzwords and NLP tactics in their sales webinars
of why you need this and kim's way of soft selling and frankly the slimy way they sell this stuff!!!

Any input would be appreciated - at least to help make others aware of Compass's track record for picking losing horses and then selling the next thing to the same groups of students and their growing email database.
  • #1,564
  • Aug 27, 2014 10:24am Aug 27, 2014 10:24am
Quoting soulfx
thanks for confirming the losses on the fund account by Mr Patterson - sure losses are part of the business; was his marketing on the fund made clear that it was a more aggressive strategy risk profile? "Losses are part of the business"...
6 months straight of losses translates to somebody who cannot adapt.
Quoting soulfx
"Aggressive Strategy Risk Profile"
What sort of garbage is that?! Patterson's stratagem was to gamble. He is such a gambler that he even charged punters a fee to learn how to play poker, which is what he does when the market is bad. It was plainly visible to anybody who had access to the Comparse mis-managed account that he was gambling with other folk's cash.
Quoting soulfx
the fact that he has 27 years experience.
Where is the PROOF Patterson ever traded live? Comparse is great at scamming punters, they're only in it for what they can get out. Anybody thinks any differently is either very naive, or a fool.
  • #1,565
  • Aug 27, 2014 11:34am Aug 27, 2014 11:34am
Duffgen, not sure if you personally were affected by Mr Patterson's trading or just outright enraged that he perhaps made false claims. Yes i heard about the poker training - no i did not sign up for any of it it did not feel right even after listening to his FX Street webinars where he is allegedly honoured top webinar in a category. I hear you, i was giving some degree of benefit of the doubt given i have never met or talked to the guy. Some funds are marketed as high risk for investors who want a higher than average return; which was what i was questioning in my comment - may sound like garbage in the context of someone you seem to know is more of a gambler. I very much questioned all of it - but to me is more helpful to learn from this and discuss than make outright attacking comments that close discourse based on one persons opinion. I appreciate you may be more of an authority on this given you had access to the managed account so i hear you. I think i made it clear my perspective on Compass from observing and listening on various promotions over the years. So all in all you have provided more facts than speculation so thanks for your input. Also ianf0ster above claims to not be the one at indo-investasi .. as commented by 2face - who the hell knows and it just confuses people as to what to believe; perhaps he is part of their marketing machine - lets face it companies pay people as he said to write slick almost truthful sounding reviews to get you to listen and be less obvious in their manipulation of your beliefs. But for now i give his report benefit of the doubt. Call that naive but i consider it keeping open til shown otherwise.
  • #1,566
  • Aug 27, 2014 12:06pm Aug 27, 2014 12:06pm
@SoulFX - apologies if my comments appeared barbed. I think Comparse and their gurus have all been given enough rope, and have shown just how good they are not. I understand that there are those who'd prefer a riskier investment - but when you look at the sheer number of trades Patterson was trading on a daily basis, you can be left in no doubt he knew nothing about the market at all. An investment should at some stage give a positive gain. The mismanaged account started off the way it was destined to go. I don't recall the exact figure, but in the last day or two of Patterson's involvement there was a 50% loss. Yes, half of the remainder of the account went pop in one day - and that was after he'd squandered the first 60%. Patterson even stated that folks had to expect "some drawdown".
Take the above into consideration, and the undeniable fact that they refuse to show ANY proof of a guru's abilities, (Pingleton said she'd "seen Patterson's tax returns - but wouldn't produce a letter from alawyer saying they were legitimate) ANYTHING that Comparse takes to the paying public must, from now on be taken as utter nonsense.
  • #1,567
  • Aug 28, 2014 11:01am Aug 28, 2014 11:01am
@Duffgen no worries and thanks for reply. And thanks for sharing you and others have every right to be frustrated and frankly even if someone published more information on these courses and Compass, people would still continue to sign up. You cant make people see ive certainly learnt that in life in other aspects; when it comes to this business almost like 'love is blind' people get blinded by the desire and wanting and hope to make it and make a fortune that until they have a bad or series of bad experiences and seriously hits their wallet; until then they probably wont learn from the experience and wisdom of others who share.
Perhaps your information will resonate and help some others to stop and think before hitting the next 'paypal buy this course' button, not just with compass but other similar outfits. I can imagine and there was one trainer who mentioned this in a webinar that many of those (not all) who lose badly or fail will not share or admit out of embarrassment that they were even part of something; instead they search the next 'new thing' to ease the pain and frustration.
Out of interest the likes of patterson/and others was he or would he need to be nfa or otherwise registered to trade others funds? I understand it is getting tougher regulation wise but wondered in this case.
  • #1,568
  • Edited 4:54am Sep 1, 2014 3:42am | Edited 4:54am
Quoting ianf0ster
{quote} Hi Soulfx, What has changed for me is that all the quirks of price movement that used to confuse and frustrate me now make sense, because I know how the various sizes and types of the Big Boys HAVE to trade purely because of their size and objectives. This gives me incredible confidence as well as a way of knowing when I am wrong in my analysis. Only somebody who had actually used and in Ray's case designed some of the strategies they use could teach this in a way that left no doubt about it in the mind of a student. So far as timing of...

ianf0ster, As long as Im concern, if you like have multiple users name(like soulfx) and log in through different proxy to avoid being dictated. Thats old kindergarten tricks. I would like you to do me a favor and stop tempting people to scam without a back up from FF TradeExplorer or Myfxbook to show how these techniques work out in real trading. Its free to join and easy to link to your MT4 account

www.myfxbook.com


Folks, always demand myfxbook from any system before committing your hard earn money to scam
  • #1,569
  • Sep 4, 2014 7:54am Sep 4, 2014 7:54am
Finally M pattern completed:

http://www.myfxbook.com/files/CrazyT...qW145zudHP.png
$10K Live Account... 3 months investor testing!
  • #1,570
  • Sep 23, 2014 6:02pm Sep 23, 2014 6:02pm
Invalided M pattern can be detected in a very simple way:

This was EURUSD 2014:
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD_M.jpg Size: 75 KB


This actual Market on EURGBP:
Attached Image (click to enlarge)
Click to Enlarge Name: EURGBP_M.jpg Size: 57 KB


Don't be affraid to sell the lowest against 71% traders who are Long... Market is going down anyway.
http://www.forexfactory.com/showthre...92#post7757192

Enjoy Pips!
$10K Live Account... 3 months investor testing!
  • #1,571
  • Sep 29, 2014 2:12pm Sep 29, 2014 2:12pm
Massive M formation:
Attached Image (click to enlarge)
Click to Enlarge Name: NZDUSD_D1_WIeRqZtRIu.png Size: 41 KB


Watch out Center point.
$10K Live Account... 3 months investor testing!
  • #1,572
  • Oct 12, 2014 4:46pm Oct 12, 2014 4:46pm
As expected... market reacted on M base... but it seems that Center Point is to high to get reached. A pin par has been drawn on 0.7900 area.

Attached Image (click to enlarge)
Click to Enlarge Name: NZDUSD_D1_fgvVXK8KCq.png Size: 43 KB
$10K Live Account... 3 months investor testing!
  • #1,573
  • Oct 15, 2014 2:27pm Oct 15, 2014 2:27pm
EURGBP:

Center Point has been broke up... A significant upward move is expected:
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 25 KB
$10K Live Account... 3 months investor testing!
  • #1,574
  • Oct 23, 2014 5:51pm Oct 23, 2014 5:51pm
2 patterns in a row:
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 19 KB
$10K Live Account... 3 months investor testing!
  • #1,575
  • Nov 4, 2014 8:11am Nov 4, 2014 8:11am
M pattern on EURCAD, Risk/Reward: 1/20.. What else?

Inserted Video


http://www.myfxbook.com/community/ex...month/736406,4
$10K Live Account... 3 months investor testing!
  • #1,576
  • May 20, 2015 2:38am May 20, 2015 2:38am
For anybody interested in following Steven Patterson, I know this is old-hat, but there's a tongue-in-cheek website showing some of the trades he took whilst mismanaging the CompassFX client fund.

For obvious reasons the client's details were removed from the screenshots. The account was tracked on myfxbook.com, but it does show how poorly CompassFX kept tabs on how the funds were being managed for their clients.

The ongoing saga of their latest guru is amusing. Many individuals saying how wonderful he is, but strangely enough, not a single, independently-verifiable account has been shown to be profitable. Proof enough, perhaps, that CompassFX exists for a sole reason - to make Bill & Kim very wealthy at the expense of their clients.
  • #1,577
  • Edited 8:35pm Jul 21, 2015 8:13pm | Edited 8:35pm
Quoting Duffgen
For anybody interested in following Steven Patterson, I know this is old-hat, but there's a tongue-in-cheek website showing some of the trades he took whilst mismanaging the CompassFX client fund. For obvious reasons the client's details were removed from the screenshots. The account was tracked on myfxbook.com, but it does show how poorly CompassFX kept tabs on how the funds were being managed for their clients. The ongoing saga of their latest guru is amusing. Many individuals saying how wonderful...
Another fool making false claims on the Internet ! I know Steve Patterson and the guy is a great trader this guys a troll obviously. This poster is just some losing trader looking to BLAME everyone else but himself he's made over 59 posts on nothing but how horrible Compass is hes obviously either a losing trader or a competitor trying to slander his competition. Just read all his threads !!!

IGNORE the troll 59 posts of trolling Compassfx
  • #1,578
  • Jul 28, 2015 1:12am Jul 28, 2015 1:12am
Steven's style of trading doesn't suit managed accounts. When the market action suits 'floor trading style' he coins it. But when trends persist he can fade his account away. It is usually either feast or famine with him. Having said that he usually makes around 200% or more per year, but needs money in reserve because he can wipe out his whole account.

My comments are based upon taking one of his short courses plus being in a trading room with him for about 1 year.
  • #1,579
  • Jul 28, 2015 9:32am Jul 28, 2015 9:32am
Quoting ianf0ster
Steven's style of trading doesn't suit managed accounts. When the market action suits 'floor trading style' he coins it. But when trends persist he can fade his account away. It is usually either feast or famine with him. Having said that he usually makes around 200% or more per year, but needs money in reserve because he can wipe out his whole account. My comments are based upon taking one of his short courses plus being in a trading room with him for about 1 year.

I believe this.

I noticed that I needed to have a "stop and reverse" strategy for persistent trending. Once I put one in place I stopped bleeding - it's a simple indicator I was able to discern from the chart patterns that is reliable between 75 and 80% of the times I need to implement it

It enables me to recover all lost pips and gain 20 - 40%. Not a huge win in terms of net gain, but an enormous win in terms of loss abatement.

The stop and reverse is what finally brought me into consistent profit. I keep reminding myself that the goal is not "perfect" - the goal is "profit".

LAFF
  • #1,580
  • Nov 9, 2015 1:42am Nov 9, 2015 1:42am
Hope all is well. A member had sent me a link to this thread and I think there are two things missing from those looking to trade this type of setup.

1.) An exact way to take the entry once you spot it.
2.) Taking the setup only from a high probability manipulation point.

I just did a video of the trades for October based on the way I trade the setup...the video also shows how the levels are all pre-selected. Hope this helps

Inserted Video


-Sterling
Founder of Day Trading Forex Live
0 traders viewing now