F-X-C-M | A Classic Retail Bucket Shop Scam Artist Who Manipulates Prices
Funny Looking Rectangles & Useless Drivel
- #484
- Sep 8, 2014 3:13pm Sep 8, 2014 3:13pm
{quote} No. You made a public statement that B2i is not new. Therefore, I am wide open to learning what you know. Apparent, I stole someone's idea and claimed it my own creation. So, now. My interest it peaked. I published B2i Version 1.0 publicly and have no problems with any corrections of First Claim being made, if those claims are genuine. So, please, by all means, make the link publicly available. Keep in mind. I am just as eager as anyone (more so) to find out if someone else was using the same concept. You know say it is not identical. Well,...
As far as me knowing the depths of this pattern or something of a similar structure, my knowledge is limited. I just know I've seen a basic idea of it.
So hopefully I look forward to you teaching me more.
http://fxcodebase.com/code/viewtopic.php?f=17&t=5142 - http://22.62.344a.static.theplanet.c...hp?f=27&t=5126
Those are just two I could find, I may try to find others.
MM
{quote} Lol, I'm not saying you stole anything. I believe you came up with your own. As far as me knowing the depths of this pattern or something of a similar structure, my knowledge is limited. I just know I've seen a basic idea of it. So hopefully I look forward to you teaching me more.
Are you kidding me? We've been over this one before, too. Not even remotely close. This is BASED on Beck's Emblem. Taken directly out of his playbook. It is a stripped down version of the Emblem. Take a very close look at the Emblem and tell me what do you see:
http://i61.tinypic.com/2cyiqll.jpg
Right in the heart of the Emblem, you see a Parallelogram. Now, take a close look at this: http://www.forexfactory.com/showthre...11#post7644311 .
Inside the Emblem, Beck, calls it the Quadrilateral, and it absolutely depends on price reaching a particular Fibonacci level in order to be validated. Furthermore, you can't plot a Quadrilateral in the same space as a B2i Structure. As the charts clearly show in post number 174 in this thread, the Quadrilateral (so-called Parallelogram that you posted) absolutely cannot have both Extreme Extension Price points straddling the Open price. Second, the Quadrilateral is never drawn from the Open price.
The charts in post 174 proves that you can have two clearly dissimilar indicators plotted over the exact same price action while having "similar" price targets but for very dissimilar reasons.
Lastly, and most importantly. I made my first discovery of B2i in 2007. I put it away because it was so flaky and unreliable. I then came back to it in 2008, and added more tools that I did not have in 2007. That's when I began to take it seriously, after realizing its potential. Beck, did not come up with his Emblem until about 2010. Ross L. Beck, wrote his book "The Gartley Trading Method," which was published in 2010. All the links on the internet for "Beck's Emblem" show dates of 2010 and later. I can't find one as early as even 2009.
So, the research (and I've done the homework on this and all of my indicators) shows that B2i pre-dated the Emblem and its Quadrilateral by between 2-3 years.
I hope that small history lesson helps to clear things up just a bit.
At least you were paying attention, however!
F-X-C-M | A Classic Retail Bucket Shop Scam Artist Who Manipulates Prices
- #497
- Sep 8, 2014 4:44pm Sep 8, 2014 4:44pm
{quote} {quote} You are right, Madmoney. My mistake. Somehow, I attached Axau's comments to YOU by mistake. My error. My request to produce a public link was directed at Axau. You are 100% correct. Axau, if you are out there - then the request is put to you: Please post a link from the public domain showing some proof of your statement. Madmoney, again, my apologies - I was grilling you for no reason. I'm really looking for Axau, to post a link.
{quote} No worries
Axau, where are you? Stop hiding, lol. You've probably just had a preview of what's about to happen to you, but that's OK, be brave, step up and post that link!
Seriously, I want to know if somebody else has been out there doing this stuff. I really want to know. So, give me a link - just be prepared to defend it.
F-X-C-M | A Classic Retail Bucket Shop Scam Artist Who Manipulates Prices
{quote} .... Point to a link anywhere on the internet, a book in any bookstore, a lecture given anywhere in the world, a seminar advertised on any television channel or network in the world, where this structure has previously been exposed to the public before the data on the start of this thread and I will give you my trading system in its entirety AND I will personally teach you how to use it in your home or office for as long as you need the training and instruction. Deal? B2i has never existed in public until I brought it into the public. If...
I am a trend following trader and I do not trade on small(est) time frame.
I trade on Daily time frame with no indicator (at all).
What I do is... as long as the trend is up, then I'll keep buying with predefined stop (SL) until the price reversed and do the same thing when the trend is down... You know what they say,"Trend is your friend till the end until it bends..."
Read the book "Trend Following" by Michael Covel.... That's how the big (I meant BIG) traders do...
Peace
____________________________
This story inspires me the way I trade...
An Inspiring Story - Trading Should be as Simple as It Is
Dr Joe arrived at the pit before opening time and saw all the floor traders congregated together in a meeting. He saw this as strange as he thought they were out and out competitors with each other.
What he saw in the first 15 to 30 minutes he would never have believed even if his best friend had told him. At the open, the overnight trades, which were long positions, were put through but he detected the traders entering them were giving signals to the other traders. After the orders were put through there was “nothing” – they just waited to see how the market reacted to those orders.
He then observed what he thought were illegal practices but later learned it to be what actually goes on each and every day. During this “dead” time, the floor traders were reviewing their orders in the pipeline and then on a given signal, a group started selling followed by another group. Then when a certain lower price had been reached, another signal was given and the same groups then bought back amongst themselves. He later learned this was called “Running the Stops” and what they had done was found out where all the orders were, which were below lows, swing lows and elsewhere, and just driven the price down to fill them and take them out so that they had a clean order sheet! Not satisfied with that, they then collectively took the price back to where it opened!
After this and now with the market moving, orders started to come in and when a large order came in from a bank, fund or other large institution, the trader with the order gave a signal before entering it. After entering it, the traders went quiet again. They were looking to see how the market reacted to that order. When they saw more buy orders coming in, they just bought more and more and kept on buying until a signal from a trader that he had a large sell order. Again the sell order was entered and the traders went quiet as they waited for a reaction from the market. He learned that the floor traders were waiting to see whether the sell order was going to be accepted as profit taking or full blown shorting. He said this went on all day long with the floor traders just “piggy-backing” on which ever way the market moved. He said he could see no skills or qualifications (other than being a whore – a very rich whore, he said) whatsoever in what the floor traders did.
On his way back to Houston, he thought about how to use what he witnessed to HIS advantage.
His first action was to throw out all his indicators, forecasts and technical analysis. He told me that there is no analysis, indicator or other program now or in the future, that can analyse or predict human behaviour and specifically, human emotions. He had seen for himself that there was nothing technical or logical in how the floor traders (now better known as Market Movers) traded and therefore any analysis or thinking from “off the floor” was an absolute waste of time.
His second action was how to beat “those whores” on the floor as he called them. He said he thought over just about every scenario imaginable and just as he was running out of ideas, it came to him. If you can’t beat, them join them although as a very devout and God fearing Christian, he didn’t think it was ethical. Unable to find another alternative, he decided he had no options left but to try and do, “off the floor” what they did on the floor.
From this came his very simple method:
Buy when it goes up and sell when it goes down.
He went on to make $millions doing this and I subsequently learned he passed away a very rich and contented man knowing that he had beaten the “whores” at their own game.
I learned all this in a few telephone conversations with him but he lost his patience with me when I still questioned his method. He wouldn’t answer my calls so I reverted back to faxes. Again, I can’t remember it word for word but I sent a simple fax saying:
“How do you know when to stop buying?”
On the same fax was his handwritten reply, “When it stops going up.”
So I wrote on it, “How do you know when it stops going up?”
His handwritten reply, “When it starts going down.”
So I wrote on it, “How do you know when it stops going up and starts going down?”
His handwritten reply, “When people start selling.”
After going round like this in riddles, I pleaded with him to “just give it to me straight”.
He sent a fax saying this would be his last communication with me and that if I didn’t understand how to buy when it goes up and sell when it goes down, I had no business trading.
His final paragraph was one which I ignored, like everything else he told me, until a couple of years ago when I realized what a dumb, stupid, arrogant, stubborn idiot I had been:
He said I would only be wrong twice using his simple method:
“Once when you buy at the top and once when you sell at the bottom.”
I just ignored this as a smart – ass answer but still tried to do what he said. Unfortunately, and as Sod’s law dictates, I tried to do it in a consolidation and lost on every trade which had me buying when I should have been selling etc.
I tried and lost again and then eventually lost my way in the quest for the Holy Grail in Indicator Land.
Now, with all my experience and thousands of lost $ behind me, the light came on!
My understanding of what he was telling me is this:
Buy when prices are moving up. Buy each retrace/dip. Keep buying until the last retrace becomes a trend change which is the one trade you lose on.
Sell when prices are moving down. Sell each retrace/rally. Keep selling until the last retrace becomes a trend change which is the second trade you lose on.
I have not traded like this as I have my own method/style now but on the look backs I have done it works very well. Obviously, the trendier the price, the better it works.
In my later communications with other floor traders, I told them about Dr. Joe and what he told me, and asked them if it was true. As you would expect, each and everyone vehemently rejected it as absolute rubbish.
Sometimes I wonder if old Dr. Joe was smoking something but then when I see those long legged neutral dojis before a significant move, I know he was right.
