Thread: Plogy and MM free zone...

Originally Posted by ;

Hanover,

You need to Check from a businessman's perspective. I was formerly a financial journalist and retired as a entrepreneur.

As I have recognized a market maker is simply interested in making profit. Whatever has been occurring in FX markets (or for that matter any speculative markets) isn't completely based on fundamental or technical analysis. It never was. More so now it's so obvious. Tell me which currency is fetching you better interest rates or which country's economy is in really great form? Then why are currencies going down and up? ...

This was an intriguing post until I found out the author of the method you have attached in a pdf, and of the book you learned from, is just another egy seller/non-trader who was selling his egy based on exemplary operation who settled together with the CFTC before he might be totally exposed...

http://www.cftc.gov/files/enf/02orde...gell-order.pdf

Not saying the ideas have no merit, but if they do, why was not the man making money trading it rather than creating fraudulent claims?

Reading the settlement quickly....

He supposedly sold approx. 375 customers the right to utilize his system
at $3400 each

he also paid his independent auditor 30% of sales

375 x $3400 = $1,275,000 minus 30% =gt; $892,500.

minus his CFTC settlement $50,000

He netted $842,500. Pre-tax of course, but still ridiculous.

Originally Posted by ;

As I've understood a market maker is simply interested in making profit. Whatever has been happening in FX markets (or for that matter any insecure markets) isn't entirely based on fundamental or technical analysis. It never was. More so today it is so evident. Tell me which currency is bringing you better interest rates or which country's economy is in very great form? Why are currencies moving down and up?

Well I for one buy into this idea, the market maker understands the sentiment of the market because he/she/they are taking another side of it. I've a strong suspicion the Market Maker is also an opportunist hunter, if many want to sell they buy, they then paint the chart to look feeble so more of this audience sell, and when their stomach is full, or the audience becomes unsure, or period is up or....etc etc..... They undo the price.

I had been looking at the EUR/USD on wednesday and saw price being pushed up to 1.2300 for the very first time, going by tick volume, non believers should quit reading today, the Market Maker did not find many vendors, never head ADP numbers will be out soon and they all ready know the numbers, non believers should also quit reading today, or maybe check out Tom Willi, I've heard him say these things many times and I believe him, he said the syndie he exchanged for used to have copies of significant speeches before they were spoken. But believe what you will.

ADP arrived in 13K verses an expected 57K, and the audience seemed to be selling, who knows , each man and his dog is going to have an OPINION and most of them are only BS, anyhow the Market Maker was taking another side of everything. The Market Maker let price fall until tick volume began to slow a bit, then they began buying up it to only nick the pre-news release price, tick volume dropped noticeably and not to invalidate that amount they let price fall after again. This is as I understand it actually 1 trading platform Felix from over at forexpeacearmy.com recommends, to look for a trade on the pullback on News releases. Felix.... By the way, is the most trusted and successful trader I understand, (and Darkstar being the next ). To top it off I believe Felix gives half of his earlier tax profits off to charity. Unfortunately I believe it is hard to follow along with someones system as deep down I actually need to learn WHY price moves as it will, (so hurry up and finish your publiion Darkstar... ha ha) this is one of my most downfalls lol, although I would be a lot better off just following a thriving system blindly.

So price visited close to 1.2300 level twice more that day, are you starting to believe 1.2300 is a strong resistance level? Well you need to, cause the Market Maker was painting it well. This day when price simplifies it to get a forth period, and moving by the high tick volume the audience thought it looked like an easy Sell opportunity, well.... They had been incorrect.

The ADP number was the very first News release I understood, afterwards, I might just know what was happening in that little moment in time. Of course I don't know if what I think I see is right, and price moving up the next day 340 odd pips out of that days low simply means I might be 50% right, but I guess that's better than price falling and me being 100% incorrect.


Something to think about....

.

do you believe in pivot points.... Well it looks like someone does. This is daily pivots and yesterdays high low and close based on 5pm New York Close. What I discovered was, and it is not hugely obvious, is that price spent very little time at support levels, and also a lot more at resistance levels. What I take from this is somebody let price wait resistance, where they were hoping to find sellers.... So they could buy up some more, and price wasn't allowed to remain at support for long, if at all, because I guess someone did not want others buying.

I have not read anyone describe what they saw at a chart in this fashion, if you have then I would love one to post a link to it.

Anyway... something else to think about... or not... ha ha

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