BTMM Course Notes The Market Maker Method Private Study Notes from Seminar of Steve Mauro

The Market Maker Method
Private Study Notes from Seminar of Steve Mauro
 
Authored by: Anonymous
“Keep away from people who belittle your ambitions. Small people do that, but the really great make you feel that you too can become great.” Mark Twain.
 
MMM Notes 2 | Page
Preliminary Notes 4
 
Homework Exercises 6
 
Exercise 1 6
 
Exercise 2 6
 
Exercise 3 6
 
Exercise 4 6
 
Exercise 5 6
 
Exercise 6 7
 
Exercise 7 7
 
Exercise 8 7
 
Exercise 9 7
 
Exercise 10 7
 
Exercise 11 7
 
Forex Market Sessions 8
 
Japan/Asia 8
 
European 8
 
US 8
 
What Is the Market Maker? 9
 
What Tools Does the Market Maker Have? 10
 
What Tools Do the Dealers and Brokers Have? 11
 
Chart Observations 12
 
Anatomy of The Asian Range Stop Hunt 12
 
Anatomy of an M and W Formation 14
 
Trapping Volume 16
 
The Wedge Redefined As a Volume Trapping Mechanism 17
 
Maintaining the Validity of Highs and Lows 18
 
False Support and Resistance Levels 19
 
The Anatomy of the Half Batman Pattern 19
 
Weekly Price Movements 20
 
The Three Day Cycle 22
 
Intraday Price Movements 23
 
The Accumulation Phase 24
 
The Stop Hunt – also defining the HOD / LOD 25
 
Other Behaviours at the HOD/LOD Reversal 27
 
The Extended Stop Hunt 28
 
The True Trend 29
 
The Opposite LOD /HOD and Reversal 30
 
A Return to Accumulation 30
 
Learning to Count 31
 
The Count of the 3 Day Cycle 31
 
The Count of the Intraday Cycle 33
 
Chart Setup 35
 
Candlestick Patterns 35
 
EMA's 38
 
Colour-Coded Sessions 40
 
Previous HOD/LOD Markers 41
 
ADR High and Low 41
 
Pivots 42
 
 
MMM Notes 3 | Page
RSI 44
 
TDI (Traders Dynamic Index) 45
 
Confluence of Signals 47
 
Trend Assessment 48
 
Basic Trend Analysis with All Information Available 48
 
Trading and Trade Setups 50
 
Components of a trading system 50
 
Rules To Profit 51
 
Fractional Disparity 52
 
Scanning View 53
 
Putting the Chart Together 54
 
Look for Strike Zones 55
 
A Suggested Routine 56
 
Market Timing 58
 
The Trading Zone 59
 
The Straightaway Trade 60
 
The 2nd leg M or W Setup 60
 
The 33 Trade 64
 
The Swing Trade 65
 
The New York City Reversal Trade 65
 
Reversal on the EMA 200 66
 
Summarise The Entries 66
 
Summarise the Exits 66
 
Risk Level 67
 
Stop Loss When Scaling in 67
 
Trailing Stops 67
 
Index 68
 
Notes 80
 
 
MMM Notes 4 | Page
PRELIMINARY NOTES
 
To successfully use the market maker method you need to begin to understand the motivations and tools that the MM has. The sole goal of the MM is to make a profit. The only tools at its disposal relate to manipulating price. Price is a reflection of the number of transactions and the price paid for these transactions. A large number of transactions are required to shift the price. The Forex market is said to trade $4,000,000,000,000 per day. The bulk of the transactions are carried out by large institutions, not by small traders. Therefore, the bulk of transactions made by small traders will be made with larger institutions. This also means that a price is moved predominantly as a result of what the large institutions are doing with currency. Their ability to dominate the market is overwhelming.
It costs about 10,000 lots to move the market by one pip.

MM’s have the ability to move price at will retail traders do not. So for a retail trader to be truly successful, they need to at least have a concept of this process so that they understand what is happening and why. Even better, to be able to identify the patterns and strategies that MM’s use to play the game and to the ‘piggy back’ with them rather than attempt to trade against them. For example, if one institution places an order to buy $1,000,000,000 (10,000 contracts) of Euro for instance, then it would require 10,000 traders selling one contract each, 100,000 traders sell 0.1 contracts each or 1,000,000 traders selling .01 contracts each to balance these transactions.

Put another way, the same number of traders would be required to initiate a transaction at more or less the same time in the same direction to move the market. So once you realise that price is moved as a result of deliberate, logical decisions the idea that price is a product of the emotional feeling of the various traders involved or of sentiment is misguided. Retail traders then, are left to react to the prices that they see, many of whom react emotionally. In relation to learning and using this material, it involves changing the way you think about the market and it will be necessary to do the homework, absolutely essential to learn to spot the patterns. You won’t be able to see them setting up if you can’t see them in hindsight. Even after you are proficient, it will still be worthwhile going through setups on historical data to ‘keep your eye in’. Most of the successful students go through at least several years’ worth of charts to identify the patterns.

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