free seminar...london / sat 29 jan 2011

[jwhite8359]

Thanks for an excellent presentation and your generosity in sharing your knowledge, it really is appreciated.

John

 

[bbmac]

Tose who were at the presentation may remember me talking about

1. How if price pulls back to a potential rbs/sbr zone in a trend, you can go down to the next lower t/f to that of the trend and a hidden divergence based set-up may develop to re-enter the trend on the higher t/f, after the pullback.

This happened today in cable as price broke to the upside follwoing a dip to the 1hr ascending trend line, pulled back from the Daily Pivot area/61.8% of the 5966-5820 1hr swing and then found fresh demand at the previous 1hr swing hi zone confluence with the 38.2% fib of the then 5830-5913 move...before another leg higher to a current daily hi @ 5919.

The 1hr screenshot below shows this.

The 5min hidden div based set-up is here and it set-up @ a L on that t/f and a potential HL point on the 30min higher t/f..

You may remember me talking about going down a further t/f to see if a regular divergence/extremes based set-up had developed on the 1min to better time the entry...well this is what happened in this case...a regular divergence based 1min set-up at that potential rbs/supp confluence mentioned above...from which to further time the entry.

Price duly obliged and from the pullback Lo @ 5879 and has made a with trend follow thru to a new trend Hi/current daily hi now being @ 5921.

Just a good example of what I was talking about and didn't get chance to show as I was aware we had already lost one and another had fallen asleep ! Lol.

G/L

 

[bbmac]

The 4hr chart shows the area of potential RBS that halted the price fall this morning and the green ascending line is the 1hr ascending trend line transposed onto this 4hr, that was the 3rd test of the potential RBS zone following pullback from 5885 that had become a previous 1hr/4hr swing lo zone = potential support zone - the extreme of the zone and 5820 Lo also being 76.4% of the 5768-5989 swing up. Text book stuff and the same patterns repeat and repeat.

G/L

 

[Black Swan]

bbmac, a suggestion fwiw, why not dump all the set ups into a new thread in the FX discussion section? Do it when and if you've got the time, I know you've had a similar thread in the past..No calls/entry/exit/targets/pips gained etc.. just "here's a potential set up, on your own heads be it" just a thought..

 

[LittleKnown]

Yeah good presentation bbm cheers, would've been better for me if I hadn't read the DTS Methodology PDF with the Sup/Res doc, and they need new bar stools or tell us we need more padding, I could've thrown mine out the building it was that uncomfortable

 

[Rossini]

Yeah good presentation bbm cheers, would've been better for me if I hadn't read the DTS Methodology PDF with the Sup/Res doc, and they need new bar stools or tell us we need more padding, I could've thrown mine out the building it was that uncomfortable

Nothing like a little positivity.... ;-)

 

[meanreversion]

The 4hr chart shows the area of potential RBS that halted the price fall this morning and the green ascending line is the 1hr ascending trend line transposed onto this 4hr, that was the 3rd test of the potential RBS zone following pullback from 5885 that had become a previous 1hr/4hr swing lo zone = potential support zone - the extreme of the zone and 5820 Lo also being 76.4% of the 5768-5989 swing up. Text book stuff and the same patterns repeat and repeat.

If I may ask, do you have monthly or annual targets for your trading, e.g. % return of equity per year? In addition, have you ever encountered meaningful drawdown on your account in the recent past? Of course, no obligation to answer these questions, I'm just curious to see how you approach it. Thanks in advance.

 

[LittleKnown]

Nothing like a little positivity.... ;-)

Only need to multiply another negative and it will be!

Did you see the bar stools?
http://upload.wikimedia.org/wikiped...judas_cradle.jpg/220px-Fomfr_judas_cradle.jpg

 

[cristiano]

Thanks very much for posting your notes for us who couldn't make it. I would genuinely have liked to have been able to be there but couldn't. Very generous of you to share your knowledge.

 

[diy_]

Thanks to BBMAC for a great presentation and for sharing his vast knowledge with us and thanks to the dentist for organising it. Very interesting as well as clarifying that indicators do work and that you can trade for a living.

 

[bbmac]

bbmac, a suggestion fwiw, why not dump all the set ups into a new thread in the FX discussion section? Do it when and if you've got the time, I know you've had a similar thread in the past..No calls/entry/exit/targets/pips gained etc.. just "here's a potential set up, on your own heads be it" just a thought..

I really don't get the time during my trading session to post the full entry set-ups, and in any event they are proprietary. Posting the potential supp/res/sbr/rbs zones ahead of price reaching them is extroneous as my methodology for identifying such in any 3 t/f combo analysis is replicated in the Presentation doc posted earlier today. What is not included in the methodology for identifying such potential supp/res/sbr/rbs is the highest probability repeating combinations of potential supp/res factors at which I look for such a 'Full Set-Up,' as these again are proprietary, but the methodology in the presentation will allow others to find their own. Much of my trading session is spent pre-identifying these potential supp/res/sbr/rbs combinations on the longest t/f and potential sbr/rbs on the intermediate t/f.

G/L

 

[bbmac]

If I may ask, do you have monthly or annual targets for your trading, e.g. % return of equity per year? In addition, have you ever encountered meaningful drawdown on your account in the recent past? Of course, no obligation to answer these questions, I'm just curious to see how you approach it. Thanks in advance.

I have a soft daily target of a 20pip gain, that I don't get hung up on (ie if the set-ups aren't there they are not there, although this is very rare.) That soft daily target is an aggregate of my hard weekly target and I look to trade 40 x 5day weeks / year.

I haven't experienced any meaningful drawdown in my own a/c but nearly 6 years ago I was invited to trade a 3rd party a/c, and In hindsight I did so when both I and this trading edge were not fully ready. This resulted in a drawdown of 8%..This was done at a time when I had not finalised both the repeating fractal geomoetric patterns and the repeating combinations of the potential supp/res factors that make up a 'Full set-up' as outlined in the presentation attached to this thread, thus my overall strike rate was lower and I suffered from all the stuff discussed in the document. It was as stated above, a case of both my Trading Edge and I not being ready, and me not knowing enough about it as further discussed in the document. There was the added variable of it being OPM, which is a whole added dimension to your own trading psychology. To date this remains my biggest drawdown in any a/c I have traded. Since trading the' Full Set-Ups, ' my biggest drawdown has been less than 2%.

G/L

 

[bbmac]

Yeah good presentation bbm cheers, would've been better for me if I hadn't read the DTS Methodology PDF with the Sup/Res doc, and they need new bar stools or tell us we need more padding, I could've thrown mine out the building it was that uncomfortable

I have published some details of the repeating indicator set-ups before, but have never published full details of either the repeating fractal geomoetric price patterns that when added to the repeating indicator set-ups - with an individual price action/combo trigger - make a 'Set-up' or any of the repeating combinations of the potential supp/res factors factors (that should be pre-identified) at which the Set-ups do or do not develop in order to make a 'Full Set-Up.'

I don't think that you were at any disadvantage as the methodology for developing a Trading Edge comprised of repeating patterns of the technical factors I use, are detailed in the presentation doc attached to this thread.

It takes many hours at a the screens (1000's) to develop a reliable Trading Edge and although this presentation doc doesn't reveal my own it does suggest what is requred and details some technical factors I use and that others may find useful in doing so/enhancing their own.

G/L

 

[trade321]

Just wanted to add my thanks aswell to bbmac and dentist for putting it together, was a great presentation and was good to meet up with some fellow traders.
hope similar events can be organised again.

Just wanted to ask bbmac if you take into consideration, other related pairs in forex market when trading cable ie the flow and/or strength and weakness of other currencies or are trades taken purely on cable TA and your other trading edge.

regards

 

[Charlton]

BBmac

That is some presentation ! It is clear that a lot of work went into preparation of the document and presentation.

It shows a methodology and a way of thinking about creation of a trading edge, which I am sure many will find very informative.

Good work

Charlton

 

[bbmac]

Just wanted to add my thanks aswell to bbmac and dentist for putting it together, was a great presentation and was good to meet up with some fellow traders.
hope similar events can be organised again.

Just wanted to ask bbmac if you take into consideration, other related pairs in forex market when trading cable ie the flow and/or strength and weakness of other currencies or are trades taken purely on cable TA and your other trading edge.

regards

Hi

I really don't tend to look at other pairings when placing a trade on cable. I know of others that look at overall strength/weakness of related and the cross currencies and factor that into their own trading decisions. Indeed that may be the basis of their trading edge. On the smallet t/f's that I opearte on, this overall strength/weakness is just that - 'overall.' All mytrades are derived from the methodology behind the 'Full set-Ups' I have detailed, and from some other more advanced Set-ups I have not. (There is only so much you can say in a 100 page doc and in respect of price action I was really just outlining the essential basics.)

G/L



G/L

 

[trade321]

Hi

I really don't tend to look at other pairings when placing a trade on cable. I know of others that look at overall strength/weakness of related and the cross currencies and factor that into their own trading decisions. Indeed that may be the basis of their trading edge. On the smallet t/f's that I opearte on, this overall strength/weakness is just that - 'overall.' All mytrades are derived from the methodology behind the 'Full set-Ups' I have detailed, and from some other more advanced Set-ups I have not. (There is only so much you can say in a 100 page doc and in respect of price action I was really just outlining the essential basics.)

G/L



G/L

Yep thanks for your reply, i like the rules you have for 'full setups' and think that must be one of the keys esp. on smaller t/f trading so as to minimise the risk of being caught as much as is possible.
I agree that there is only so much you can say or teach for that matter and the only real way to develop your own trading edge is those 1000's of hours of screen time etc
but if you can take 1 or 2 things from others that resonate with you and your style then focus on how to apply them to your edge.
on the subject of strength/weakness etc across markets i would say that is a big part of my trading edge and one of the things i took away from seminar was that of defining 'full setups' more clearly, something i am still working on.
so thanks again

 

[meanreversion]

I have a soft daily target of a 20pip gain, that I don't get hung up on (ie if the set-ups aren't there they are not there, although this is very rare.) That soft daily target is an aggregate of my hard weekly target and I look to trade 40 x 5day weeks / year.

I haven't experienced any meaningful drawdown in my own a/c but nearly 6 years ago I was invited to trade a 3rd party a/c, and In hindsight I did so when both I and this trading edge were not fully ready. This resulted in a drawdown of 8%..This was done at a time when I had not finalised both the repeating fractal geomoetric patterns and the repeating combinations of the potential supp/res factors that make up a 'Full set-up' as outlined in the presentation attached to this thread, thus my overall strike rate was lower and I suffered from all the stuff discussed in the document. It was as stated above, a case of both my Trading Edge and I not being ready, and me not knowing enough about it as further discussed in the document. There was the added variable of it being OPM, which is a whole added dimension to your own trading psychology. To date this remains my biggest drawdown in any a/c I have traded. Since trading the' Full Set-Ups, ' my biggest drawdown has been less than 2%.

G/L

That's fairly astonishing, your Sharpe ratio must be off the scale. (By the way, please don't read any sarcasm into what I type as none is intended)

As far as scalability goes, do you think you are now back at a point to look at OPM again, or are you content with your own account? I presume there's an element of psychology to this.

 

[bbmac]

That's fairly astonishing, your Sharpe ratio must be off the scale. (By the way, please don't read any sarcasm into what I type as none is intended)

As far as scalability goes, do you think you are now back at a point to look at OPM again, or are you content with your own account? I presume there's an element of psychology to this.

I do trade OPM and have done for some time, as well as own a/c. For me OPM is all about developing that extra psychological robustness to counter the responsibility which I take very seriously.

G/L

 

[bbmac]

Yep thanks for your reply, i like the rules you have for 'full setups' and think that must be one of the keys esp. on smaller t/f trading so as to minimise the risk of being caught as much as is possible.
I agree that there is only so much you can say or teach for that matter and the only real way to develop your own trading edge is those 1000's of hours of screen time etc
but if you can take 1 or 2 things from others that resonate with you and your style then focus on how to apply them to your edge.
on the subject of strength/weakness etc across markets i would say that is a big part of my trading edge and one of the things i took away from seminar was that of defining 'full setups' more clearly, something i am still working on.
so thanks again

I concur with your thoughts.

Although my trading edge works across any t/f combo I did develop in on the smaller t/f's which was and reamins my current preference. I think the confluence of many tech factors upon which the Trading Edge is based, was, in part , a way of compensating for what can be generally less reliable price action on these smaller t/f's -vs- the higher t/f's.

G/L with the continued development of your Trading Edge