i have a group of my friends who started forex earlier than me, and making steady profit. and they showed me today this video explaining a strategy called MMM(market maker method). i didn’t fully understand yet, but it seems like it’s based on psychology aspect between traders and market makers. So… these guys believes that this is one good strategy out there, and i’m just wondering cuz there are too many stuff telling different stories…
if anyone knows, i want to hear ur opinions
Hi Seih,
Actually from my point of view, how i read the market for this last 10 years is only one.
But in internet they combined it or tweak a bit than giving them different names.
It is just like mango ice cream, vanilla ice cream, chocolate ice cream. it is just basicly ice cream that combined with your own preference style.
What i can tell you Trading is all about psychology. it is the same from 10 years ago, 100 years ago, or 200 years ago. everything is about demand and supply. Chart in forex trading platform showing me how people behave or how people react. so you read them by using analysis and than predict it. some times you are wrong some times you are correct.
A good strategy is a strategy that you made after you understand the market situation really well and adjust it with your trading style. even though you want to follow other people strategy, you must know how to read the market first. it is analysis first than decide what strategy you will use “NOT THE OTHER WAY AROUND”
I believe there are two entirely different things sold under the name “Market Maker Method”.
The one you’re referring to, I think, is associated with someone called Steve Mauro. I’ve seen quite a bit of this, myself, and I didn’t think it looked bad. I’ve certainly seen many things that are a whole lot worse, anyway. However, it requires a lot of understanding and a [B][U]lot[/U][/B] of experience, and I have to say that from what I’ve seen of it, it’s [I]totally[/I] unsuitable for beginners, to put it mildly.
I understand that there’s also another, separate thing with the same or a very similar name, which is associated with someone called Martin Cole. I haven’t seen it, but will mention that (some years earlier) Mr. Cole was the author of the hands-down [B]worst ever[/B] trading book I’ve seen in my whole life - and that’s really saying something because I’ve seen loads of real junk - and personally I wouldn’t trust him as far as I could throw him (and that would be no distance at all, because I’m a real lightweight on the avoirdupois scale).