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MBOXX ( similar to Weis Wave )/Wyckoff


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MBOXX ( similar to Weis Wave )/Wyckoff

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  #31 (permalink)
Naples FLA
 
Experience: Beginner
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sienna View Post
Oriole,
Before you decide to fork out cash for MB, it might be wise to look at the videos, of Mike (at Mbox) trading 1 min chart , live account. Useful info on the suitability of this approach (or not, as the case may be), to one's preferences. Just check their website.
Sienna

Thank you. I started watching one of his videos yesterday and will continue. Do you have an opinion on MB? Does he do trials? There are so many different systems and indicators for sale that it is quite daunting. Iím determined to go slowly and not make a bonehead decision. Appreciate you taking the time to share.

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  #32 (permalink)
Melbourne, Australia
 
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Oriole View Post
Thank you. I started watching one of his videos yesterday and will continue. Do you have an opinion on MB? Does he do trials? There are so many different systems and indicators for sale that it is quite daunting. Iím determined to go slowly and not make a bonehead decision. Appreciate you taking the time to share.


Oriole,
You pose a very legitimate question, but it covers a cosmos of possibilities and I am not sure that I can provide cogent advice. Your intention of taking it slowly is wise and I wish I had that foresight when I started. Having said that, I still consider myself a beginner.

In the context of an indicator x or y, why not watch the YouTube videos of MB for a few weeks, and all those you can find retrospectively and see if that approach is for you. There is also the question of account size and time frame. MB uses a 1 min chart and although you can configure the software to any duration, tick, or volume, or range count, the examples used on a live account seem to focus mostly on 1 min and US market hrs. Is that appropriate for your situation?

I don't want to be seen as promoting MB, but 'simply' to answer your Q's: MB does not offer trials (so I believe). One factor to be aware of: Their training (if you fork out an extra amount on top of the software) ports you to the associated MB partner, an experienced trader and a room full of more/less experienced apprentices, some with seemingly consistent trading results, pulling out daily profits. This is a daily room, which starts with price action and EMA cross-overs (but no MB software). The idea is to train in patience, consistency and risk management. It assumes that you are a beginner. It is a fairly testosterone driven room, matched by real world approaches. Slowly they introduce aspects of the MB software, but it differs greatly from the MB videos, which I believe should be stated up front (it is not). The workspaces are spare, 5 EMA's, no MB. The approach is realistic, and a touch 'brutal', to mirror the indifference of the market and the competitive nature of the trading game....(my paraphrase of their approach).

Somewhat in contrast, the MB website videos show the set up Mike from MB uses. he is not part of that training or trading room, but is the coder and trades his own funds. Mike does not provide training, but does "answer" emails and chart screenshots. I have adjusted my workspace (NT8) to match his. I am also experimenting with 3 min, Vol + Range charts. My background narrative in all this is, that I am slowly adapting the potential of the software to suit my time of day and preferred instruments.

Having 'said' all this, this FIO resource offers incredible information and finally, I realize that (for a considerable part of the game), I am trading with/against myself....so maybe the section on Psychology at FIO is one of the real gems.

Just some thoughts, based on your questions. Anyway, hope it makes some sense,
Regards

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  #33 (permalink)
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Oriole View Post
Thank you. I started watching one of his videos yesterday and will continue. Do you have an opinion on MB? Does he do trials? There are so many different systems and indicators for sale that it is quite daunting. Iím determined to go slowly and not make a bonehead decision. Appreciate you taking the time to share.

@Oriole, I have no knowledge or opinion about this particular vendor, other than the general observation that there are good vendors and bad vendors, and that potential customers should exercise care when it comes to handing over any money. (I know this is obvious, but I thought I would just say it anyway. It's also good advice.)

Be careful out there. The reason there are a lot of these systems for sale is that there is no lack of people who are willing to pay them for the trading success they seem to offer. Perhaps some do, too. But just be careful, that's all.

I would not comment here except that you said "There are so many different systems and indicators for sale that it is quite daunting," which made me want to caution you about the search for packaged solutions.

Again, I know nothing about this vendor and am not being positive or negative about them. The quest for solutions from sellers of systems can be perilous, however. Learn slowly and apply things that make sense to you.

Just a caution.

Bob.

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  #34 (permalink)
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Oriole View Post
Thank you. I started watching one of his videos yesterday and will continue. Do you have an opinion on MB? Does he do trials? There are so many different systems and indicators for sale that it is quite daunting. Iím determined to go slowly and not make a bonehead decision. Appreciate you taking the time to share.

My bug bear with any vendor is not allowing free trials of their product. Some of his indicators are so very simple (and I have commented on this before, see the link below) yet he is charging extortionate amounts.

He charges 300 USD for something called the MPace, that is literally coded in 5 minutes. The description of the indicator has nothing to do with how the indicator works, but it sure sounds fancy, that you can say.

I debunked this indicator here.



I am not saying his other products are not any good, but as others have stated, be careful. With the code protection available (especially for NT8 using Agile.net) these days, there is no excuse not to offer a free trial.

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  #35 (permalink)
Naples FLA
 
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JonnyBoy View Post
My bug bear with any vendor is not allowing free trials of their product. Some of his indicators are so very simple (and I have commented on this before, see the link below) yet he is charging extortionate amounts.

He charges 300 USD for something called the MPace, that is literally coded in 5 minutes. The description of the indicator has nothing to do with how the indicator works, but it sure sounds fancy, that you can say.

I debunked this indicator here.



I am not saying his other products are not any good, but as others have stated, be careful. With the code protection available (especially for NT8 using Agile.net) these days, there is no excuse not to offer a free trial.

I totally understand. I'm paralyzed into buying NOTHING at this stage because there are too many choices and MOST vendors are rip offs. Appreciate you taking the time. I'll keep reading and watching.

As far as good vendors vs. bad, the good seem few and far between. Just like most everything else in this world.

@bobwest, Thank you, @sienna Thank you!

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  #36 (permalink)
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Oriole View Post
I totally understand. I'm paralyzed into buying NOTHING at this stage because there are too many choices and MOST vendors are rip offs. Appreciate you taking the time. I'll keep reading and watching.

As far as good vendors vs. bad, the good seem few and far between. Just like most everything else in this world.

@bobwest, Thank you, @sienna Thank you!

Just stumbled over this threadÖ.

I am using the mbox software for a couple of years right now and for me and my style of trading it is working very well (I use other, complimentary tools as well). On NT7 I used the Weis Wave indicator for quite some time, which did a very good job, too. Mbox is far more complex and has more functionality and is adding other stuff like delta into the Wyckoff Wave thing.
I can confirm the positive posts of other community members about Michael and his customer service, exactly my experience. In my opinion the screen shots and videos of mbox are providing a correct information what to expect from this software. It is working exactly like that.
If you are in the process of making a decision if Wyckoff and the Wyckoff/Weis/Mbox-Wave is suitable for you then you should get yourself a copy of David Weis' book "Trades about to happen". And you should subscribe to his daily newsletter (stock market update), which is free of charge and is often showing a 'wave chart' and other important Wyckoff stuff. I learned a lot from it.
As mentioned by other members already, Dr. Gary Dayton (one of his mentors was David Weis) is offering some good education as well, incorporating the Weis wave.
The 'Price Action Swing'-indicator for NT7 or NT8 by Dorschden available in the downloads-section of this incredible forum is offering the same functionality as the Weis-Wave - at least. So there you have something to play around with which may help you with your decision with the Wyckoff waves. And if you do a search on 'weis wave trade setups' on the internet you will find a lot of information on how to use them. You might even find the original handed out by David himself.

There will be a so-called vendor webinar with Mike from Mbox on March 12th - 'Discover Order Flow with MBoxWave' hosted by NinjaTrader Ecosystem. Usually, there is a Q&A at the end....

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  #37 (permalink)
Slovakia
 
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Sadly he doesnt provide trial This tells me, that he doesnt believe in his product much, while after trial not much people would actually buy it. I believe thats the reason why theres not trial, pay and I dont care if u use it or not...

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  #38 (permalink)
Naples FLA
 
Experience: Beginner
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ThomasK View Post
Just stumbled over this threadÖ.

I am using the mbox software for a couple of years right now and for me and my style of trading it is working very well (I use other, complimentary tools as well). On NT7 I used the Weis Wave indicator for quite some time, which did a very good job, too. Mbox is far more complex and has more functionality and is adding other stuff like delta into the Wyckoff Wave thing.
I can confirm the positive posts of other community members about Michael and his customer service, exactly my experience. In my opinion the screen shots and videos of mbox are providing a correct information what to expect from this software. It is working exactly like that.
If you are in the process of making a decision if Wyckoff and the Wyckoff/Weis/Mbox-Wave is suitable for you then you should get yourself a copy of David Weis' book "Trades about to happen". And you should subscribe to his daily newsletter (stock market update), which is free of charge and is often showing a 'wave chart' and other important Wyckoff stuff. I learned a lot from it.
As mentioned by other members already, Dr. Gary Dayton (one of his mentors was David Weis) is offering some good education as well, incorporating the Weis wave.
The 'Price Action Swing'-indicator for NT7 or NT8 by Dorschden available in the downloads-section of this incredible forum is offering the same functionality as the Weis-Wave - at least. So there you have something to play around with which may help you with your decision with the Wyckoff waves. And if you do a search on 'weis wave trade setups' on the internet you will find a lot of information on how to use them. You might even find the original handed out by David himself.

There will be a so-called vendor webinar with Mike from Mbox on March 12th - 'Discover Order Flow with MBoxWave' hosted by NinjaTrader Ecosystem. Usually, there is a Q&A at the end....

Thanks for taking the time on this. I'm in SLOW MOTION but I plan to study MBOX closely. I listened to a few of @ft71 webinars yesterday and they were very enlightening. I'm on it!

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  #39 (permalink)
Naples FLA
 
Experience: Beginner
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Broker: NinjaTrader
Trading: Currency Futures, RTY, ES, NQ
 
Oriole's Avatar
 
Posts: 87 since Dec 2019
Thanks: 194 given, 57 received


Oriole View Post
Thanks for taking the time on this. I'm in SLOW MOTION but I plan to study MBOX closely. I listened to a few of @ft71 webinars yesterday and they were very enlightening. I'm on it!

Hi again. Iíve watched a few of Mikeís You Tube videos and emailed Mike. Very responsive, straight shooter kind of guy. He connected me with Matt who runs the trading room and Iíll be getting some guest passes for it. I like it and I feel like it fits my personality. Thank you again for the input. Will keep reading and learning.

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  #40 (permalink)
Naples FLA
 
Experience: Beginner
Platform: Ninja Trader 8
Broker: NinjaTrader
Trading: Currency Futures, RTY, ES, NQ
 
Oriole's Avatar
 
Posts: 87 since Dec 2019
Thanks: 194 given, 57 received



sienna View Post
Oriole,
You pose a very legitimate question, but it covers a cosmos of possibilities and I am not sure that I can provide cogent advice. Your intention of taking it slowly is wise and I wish I had that foresight when I started. Having said that, I still consider myself a beginner.

In the context of an indicator x or y, why not watch the YouTube videos of MB for a few weeks, and all those you can find retrospectively and see if that approach is for you. There is also the question of account size and time frame. MB uses a 1 min chart and although you can configure the software to any duration, tick, or volume, or range count, the examples used on a live account seem to focus mostly on 1 min and US market hrs. Is that appropriate for your situation?

I don't want to be seen as promoting MB, but 'simply' to answer your Q's: MB does not offer trials (so I believe). One factor to be aware of: Their training (if you fork out an extra amount on top of the software) ports you to the associated MB partner, an experienced trader and a room full of more/less experienced apprentices, some with seemingly consistent trading results, pulling out daily profits. This is a daily room, which starts with price action and EMA cross-overs (but no MB software). The idea is to train in patience, consistency and risk management. It assumes that you are a beginner. It is a fairly testosterone driven room, matched by real world approaches. Slowly they introduce aspects of the MB software, but it differs greatly from the MB videos, which I believe should be stated up front (it is not). The workspaces are spare, 5 EMA's, no MB. The approach is realistic, and a touch 'brutal', to mirror the indifference of the market and the competitive nature of the trading game....(my paraphrase of their approach).

Somewhat in contrast, the MB website videos show the set up Mike from MB uses. he is not part of that training or trading room, but is the coder and trades his own funds. Mike does not provide training, but does "answer" emails and chart screenshots. I have adjusted my workspace (NT8) to match his. I am also experimenting with 3 min, Vol + Range charts. My background narrative in all this is, that I am slowly adapting the potential of the software to suit my time of day and preferred instruments.

Having 'said' all this, this FIO resource offers incredible information and finally, I realize that (for a considerable part of the game), I am trading with/against myself....so maybe the section on Psychology at FIO is one of the real gems.

Just some thoughts, based on your questions. Anyway, hope it makes some sense,
Regards

Thanks for sharing on MBox. I continue to watch and learn. Scored a PDF of the Trade About To Happen. Gonna get a few trade room guest passes. Mike has been great via email. You still MBoxing every day? Onward and upward.

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