Mp -- Some Of My Non-secret Secrets

Beginner Questions
1

ITS BLOODY WELL DIFICULT !

absorbing and learning and speaking a foreign language and watching the danged price move up and down and sideways and all over the place and you dont got no idea of what the blue hades is going on and no one will tell you and you just want to make some money and have a pizza and a sam adams and the world wont let you do it and sooner or later you swear youre gonna learn what this dumb forex is all about before it takes every cent youve got !

HAVE I GOT A DEAL FOR YOU !

although trading for a decent amount of time (that translates into “I dont lose nearly as much as i used to !”) I get confused as to where in the blue hell everything is heading at times, especially recently, and often the old trick of watching the trend on the H1 doesnt always work as THATS getting whipped around also.

SO I ALWAYS FALL BACK TO A COUPLE OF LINES I MADE MORE KNOWN TO THE WORLD A FEW YEARS BACK !

THE LINEAR REGRESSION CHANNEL !

fancy name but really simply means a couple of trend lines that the computer magically draws for you and that will show you the trend and direction your prices are presently (and in the future) taking !

now in this pix, Ive used the LRC tool available in MT4 and drawn the upchannel (yellow) from where the lower left hand side 3 white arrows live (from the LOWEST and FURTHEST AWAY point on the chart)

The second channel is drawn from the top three white arrows and is the NEAREST and HIGHEST point near your price candle.

now this sets up the main trend (the long yellow channel) and the PRESENT DIRECTION of the minor trend which is the small yellow channel.

what this shows is the major trend is UP and your price is moving to the bottom of the channel, or what some would call SUPPORT — notice where the two channels are meeting ? NOTICE that the GREEN channel meets there also ! Wanna bet thats where the price reverses (OR breaks down, which we need indicators to tell us more about, but this is an LRC lesson and not an indicator lesson)

oh yeah, the GREEN channel is from a custom indicator called “SHI_channel_real” and can be easily googled for — put it on your charts and youll IMMEDIATELY be able to tell where your price IS and where its HEADING !

now this doesnt replace LEARNING about forex from this site, but should make it SIMPLER to see where things are heading !

after a while of doing nothing but watching the LRC channels, youll start getting the idea of how the price moves from one line to another, or from support to resistance and then back again, which is a DIRTY LITTLE SECRET OF FOREX, and one the banks NEVER wanted you to know about.

so now that Ive got my security forces in place, I have freely given you what should never have been revealed and youre now one up on the banks.

enjoy and trade well

mp

happy turkey,

mp

GJ H1 LRC.jpg700×444 49.5 KB

1 Like
2

I like the way you ‘put things’!!! I had a good ‘chuckle’ for a change!!!

I’ve used LRC’s (Linear Regression Channels) now and then with my ‘Wilder stuff’’ off and on for a while now so I can attest to their merit.

Now NOT to ‘rain on your parade’ BUT:

I don’t know if you know this BUT there is ACTUALLY a trading ‘system’ based on LRC’s and Pivot Points (it’s nothing to do with Wilder by the way). It does work (although it’s not my ‘style’). It’s sheer ‘simplicity’ is what ‘makes it’ though. Essentially: you buy or sell at the OUTER LRC lines (sell when price penetrates the top line or buy when price penetrates the bottom line), your TP is at the middle line, and your stop loss is the first pivot OUTSIDE of the LRC’s (the first pivot BELOW the lower line if long or the first pivot above the top line if short). Note that your stops are never at the EXACT pivot levels i.e. always ‘a couple of ticks’ above or below the relevant pivot.

But yes: Linear Regression Channels are indeed EXTREMELY useful and pretty much never let you down.

Regards,

Dale

3

[B]I would love to continue this foray into the world of Forex methodology, but the infamous and wonderful McGiver sisters have just arrived with their goodies for pre thanksgiving festivities – I shall not need the scotch tonite ![/B]

[B]HAPPY THANKSGIVING ![/B]

[B]mp[/B]

1 Like
4

ABSOLUTELY FABULOUS post!!!

I read it last night and again now and still I’m ‘laughing my head off’!!!

But I have to ask:

Who are the ‘infamous and wonderful McGiver sisters’??? That’s not there REAL surname SURELY!!!

Regards,

Dale

(Where are you in the world by the way??? I can only assume that because you’re celebrating Thanksgiving you’re SOMEWHERE in the US)!!!

5

Ah Dale - - - - -

The McGiver sisters, because of tax and legal reasons, have never divulged their true identities to me, although much else has been divulged !

first and foremost the powers that be on this site appear to have disallowed my profile pix which would have given you a figurative taste of the revered McGivers !

I cannot understand why an excellent picture of me and one of the sisters, clad only in three palm leaves (her, not me !), would bother those powers, but so be it ! NO tolerance for alternative life styles I gather !

they have been with me for years, even longer than SLINK, the nasdaq ferret who, without her extroadinary expert quidance, I could not trade well and provide rehabilative services available no where else on earth with their bubbly personalities, overwhelming intelligence and education and a foremost desire to see my crusty visage break out into hilarity, happiness and a number of other things one cannot discuss on a family channel !

perhaps a petition to those self same powers might allow a few pix, but in the meantime I shall adhere to Channels, Indicators, Oscillators, Time of day to trade and tons of that relatively boring and mundane information that those of my ilk store away in their frontal lobes.

More’s the pity !

USA correct, in the picturesque Hudson River Valley close to West Point Military Academy, where exists a tiny elfin cabin known only to a few daring eagles and red fox — residing within lives a gnarled old Forex Master, half zenmaster and half anarchist who contentedly manages a fund that daily transports vast amounts of money to the Camann Islands where the money then makes its way through the bookies in England and is converted to rubles, before being flown back to be deposited at Barclay’s.

Kindly do not divulge the circuituitous journey the money takes, as I most certainly wouldnt want it to be public (for the most obvious of reasons, dont you think ?)

But the turkey calls at the moment (which, should you consider that it should be COOKED at this moment, is a rather intimidating situation !)

Well, if you dont have turkeys there, at least go out and maintain capitalism by stealing a diamond or two.

btw, dont nobody want to vote in my poll ? — please understand that I presently have NO links to mafia involvement and I will never divulge your opinions, personal information or toothbrush you use, under pain of death !

enjoy and trade well

mp

1 Like
6

LOL!!!

Thanks again!!!

I’ve voted for you!!!

Regards,

Dale

7

This was started on another thread and in my inimitable manner to garner praise and love, I kept the longer and more informative version for you, my loving public !

the question involves the BEST times to trade, and since Im just a homeboy attached to NYC and Wall Street at the hip, my times are EST in the Land of the Free and the Home of the Brave ! (catchy lyrics huh !)

====================================

take a very long and hard look at the 1AM - 3:15 AM time slot and then the 6AM - 7:30 AM slot

understand that in each time slot there is a major reversal approx 42 minutes into each session and that its very nice to leave your 3 oclock trades to mature and ferment until the 6AM session, where you will get another reversal approx 42 minutes into the session — working with the trade you set going into 7:30, be aware that it will also change 1/2 hour AFTER the opening of the stock exchange at 10 AM.

Note that these times are all Wall street standard time, aka EST !

If youre REALLY observant, you will notice the market changes EVERY 1.5 hours in normal times BUT the amount of reversal is dependent on how many days the currency price has been moving in its present direction.

On DAY ONE, a fool and his/her money is soon parted if they are foolish enough to believe any reversals from the present trend will allow them the luxury of a counter trade past the 23 FIB, and often not past the 15 FIB ---- other words, unless you have the nerve, speed, agility and guts of John Rambo, DONT place a counter trade but rather just run with the trend — now to place a lie to my own observations, at 11 AM one may produce a sizeable counter move that will then lead to a resumption of the original move after NOON !

If you dont understand what i wrote, watch for a day or two ---- heck, if you too wish to be a master of the universe, dont you feel its worth a day or two of your time ?

enjoy and trade well

mp

[B][I]
“I live in my own little world but its ok, they know me there”[/I][/B]

8

Good morning!!!

Another great post of course!!!

I hope you don’t mind me posting this here on YOUR thread BUT I’ve posted about this on MY thread and the subject also came up on another thread but nobody has commented (and I’m starting to think it’s my imagination but I know it’s not. I sit in front of these things over 18 hours a day so it’s definitely not something I’m imagining)!!! Besides: YOU may JUST have the answer (or at least some educated input on the subject).

Ever since the term ‘credit crunch’ was coined by the media (who by the way: I BLAME for all of this!!! If it was not for them I don’t think any of this would have happened or, at very least, would never have become so severe):

In ‘the old days’ (about two years ago up until August / September of this year): the markets had ‘movement’ pretty much consistently over twenty four hours. But of late (well since August / September this year) I’ve noticed that just about every market (forex included) appears to ‘wait on the Dow’ (the NYSE). Sure: for the first thirty minutes or so there is some movement as each of the individual exchanges open but these moves really seem to ‘run out of steam’ and price just ‘loiters around’ until the almighty NYSE opens and the Dow starts moving!!!

IS IT just my imagination???

Now I’ve always said and ‘laughed in the face’ of those who have expressed the notion that some day New York will NOT be the financial capital of the world (and anybody that’s been at this long enough will know that when the NYSE is closed things are decidedly calm. But then there is a big difference betwee ‘calm’ and ‘NOTHING’)!!! Now ODDLY enough: YESTERDAY (being Thanksgiving and TODAY so far i.e. the FTSE, DAX, and CAC, are not yet open at my time of posting this) there has been loads of movement in all the OTHER markets.

I’m not looking at ‘trading ideas’ or for some ‘edge’ here: I just have ‘that kind of mind’ (and seeing that I only trade the daily timeframes WHEN I’m ‘behaving myself’ I ALSO have LOADS of idle time and invariably use this time to ‘ponder’ useless issues like this OR post inane messages throughout the day)!!!

Your INVALUABLE (and, I’ll wager, entertaining) ‘take’ on this would be appreciated!!!

Regards,

Dale

9

Interesting post, thanks for sharing the LRC idea.

The Shi seems to be dynamic to me, though i still playing with it. I can see that this is a useful tool to visualise the range of trade. As Dale suggests when encroching either border, some caution would be needed for the possible trend reversal.

Is that a 400+ pip hedge you have going on your chart?:eek:

10

Hey,

the SHI is dynamic in some ways, but when attached to the highest timeframes, it doesnt move around until the following day, letting you know on THIS day that it is being violated. But understand, If it moves from its position its simply telling you that your currency is now producing higher highs (or lower lows, depending on direction !), which it WILL do on the shorter timeframes, such as the one and 5 minute.

They are simply the SIGNIFICANT support and resistance points recorded in previous transactions, depending on the timeframe chosen, so when price is approaching one of the lines, you simply take your profit and wait to see if you have a retrace or breakthrough — right there in front of you, in graphic 2D color and live from Radio City, you shall see what your price is doing.

AFTER you use them for a while, they become prophetic, but like a lovely woman (man), you have to get to know them just a touch to get the best out of them !

When using the channels, I put a tp INSIDE of the channel and then a stop order OUTSIDE of the channel, although it gets ticklish and I wouldnt want to see people rush into that. My indicators will tell me if momentum is strong enough to break the line, but use caution if trying this method, and get to KNOW your indicators well !

HEDGE ? HEDGE ? HEDGE ?
you werent supposed to see that.

btw – notice how easy it is to hold a core position and then scalp support and resistance all day long — its almost a shame as to how easy it is to get Barclay’s angry !

enjoy and trade well

mp

1 Like
11

SEE – HOW MANY TIMES HAVE I TOLD YOU NOT TO WAGER !!! ---- sometimes im serious !

I also spend inordinate amounts of time in front of multi monitors, yelling and screaming because the traders have ALL lost their collective minds, with the exception of you and me !

GIVE THAT MAN A QUPIE DOLL !!!

the simplest explanation behind the phenomen you noticed is that the stock market is so utterly unpredictable that MANY (and thats a lot of peeps) are playing forex during market hours — HAVE YOU SEEN WHAT HAPPENS AT 3:15 PM THESE DAYS, as the STOCK market peeps close their positions and get ready to go home ?

while forex still tends to be the trending beast it is, look at the RANGE of movement on each candle of, let us say, GU !

the ONE MINUTE chart has become king, with one and two pip trades happening FOREVER which is why a trade on the H1 can conceiveably take two days to complete !

CNBC held their trading contest last year and the winner was making more with forex than with stocks, so forex went public at that point — have you noticed how, when it was usually relegated to the trash basket of the building superintendent, the currency pairs are now BIG TIME, now living in the trash basket of the CEO of some trading firm.

WEVE GONE BIG TIME, cause nothing else trades well, and commodities are becoming unreliable, having had THEIR big run ---- SO WERE THE NEXT BIG THING that will get pounded and raped, all in the interest of the almighty sheckle !

Dont you hate finding a socialist with a trading account ?

enjoy and trade well

mp

As far as mankinds developments to this moment, if it goes up then at sometime it must come down — one just has to know the timeframe !

12

Thanks for the reply.

You’re probably never going to ‘speak’ to me again after this but:

To me: forex pairs are to trading what what a Mac Donalds burger is to fine dining!!! Trading stocks on the NYSE is the ‘French Cuisine’ and the Dow is the ‘Champagne’!!!

But I’m ‘thick as a plank’ for thinking like this (especially after my STUNNING performance with Lehman, AIG, Freddie and Fannie, WAMU)!!!

Put it another way: after the aforementioned ‘stunning performance’ which included, but was not limited to, trying to ‘pick the bottom’ of these stocks on the way down, I’m NOW trading forex pairs AGAIN to cover the losses!!!

Thanks for your input though. I feel better now that at least SOMEONE has noticed this ‘anomaly’!!!

Dale. (forexbrokersonline.net).

13

OK, IM RE-NAMING THIS THE DPATERSO/MP HOUR, released in stunning black and white and HD.

I was a heavy duty stock guy years ago until someone showed me forex, and i fell like Samson to Delialah’s scissors !

It TRENDED, it DID WHAT IT SAID IT WOULD DO, ALL my indicators WORKED and I made a ton of moneys — I was in trader heaven, because it was NOTHING but technical trading, and while not quite as easy as stealing candy from a baby, it was better than shooting goldfish in a barrel !

Every now and again, I would wander over to the commodities market (gold and silver and oil of course) and play some intraday scalps and even wander into trading the dow minis, the footsie (the only one I allow the McGivers to trade with me) and all the other stuff out there, so variety is never a problem.

the only thing i can think about you is that being on the other side of the world, we have to have these differences !

YOU’RE getting scary !

Of course, you must realize that if you had invested 100K in your “haute cuisine” stock market 10 years ago, you would now have 100K – other words, you would be at break even and when you retire, you would be panhandling to stay alive.

NOW, take that same 100K and trade your 18 hours a day for 10 years with even moderate success - - - - - - - - - - -

I come out of the Film world where I was stuck photgraphing women for 30 years or so and I always got a chuckle out of the “production assistants” (similar to newbs) that would get hired to “gofer” this and that ---- THEY were always the most expensively and best dressed people on set when the weather was below freezing outside. We poor unfashionable pros were wearing all the Eddie Bauer ever invented and looked like poor imitations of the Michelin man or the Pillsbury dough boy, BUT WE WERE WARM AS TOAST, COMFORTABLE AS CAN BE AND ABLE TO CONTINUE WORKING FOREVER, while these poor high fashion manequins were freezing to death !

Yeah, stocks are the high end i guess, but SHOW ME THE MONEY HONEY !!!

LOL

mp

[B][I]If a mans only tool is a hammer, he tends to see every problem as a nail[/I][/B] – Abraham Maslow

15

Well gentleman i must admit i am injoying this thread so i voted best since sliced bread.

I dnt have any experience with channel trading and to tell you the truth i stay away from indicators period. However i’ve been on the look out for that one great trend indicator that can help me with the bigger picture (4h) so my shorter term trading (1h) can be done with greater confidence, coz iven noticed when i feel confident where an instrument is going it makes me better able to hold on and let a trade go into profit when it is moving against me.

mostly i use fibs, and technicals like trend lines, higher highs lower lows, consolidation breakouts and things like that.

What would you say is the best trend indicator on earth???

cci???
adx???
…???

thanks, john

16

Hello,

Well I think you already knew what MY answer was going to be!!!

ADX.

Regards,

Dale. (forexbrokersonline.net).

17

i guess i did dale :slight_smile:

is adx best on 4h or daily?

im sure you cover it on your thread but can you tell me what you consider decent settings and why.

thanks, john

18

enjoy and trade well

mp

[B][I]Within the great hall at Elfinore stands a wondrous coffer, precisely four cubits square and securely latched against the outside world. Inside that repository, shut away from impertinent eyes, abides many an intriquing trading secret garnered from around the world and over the ages !

As a child, i used to watch from the darkness as the secrets were debated and annotated by the elders. No one there held a single thought of my presence – BUT I KNOW WHERE THEY HID THE KEY !! [/I][/B]

GJ H1 LRC DEMO 2.jpg700×234 48.5 KB

SIMONE_677277.JPG648×503 51.2 KB

OTHERBRAZILLION.JPG649×502 27.6 KB

19

so if lrc is s/r why use it??? then just say s/r is the best trend indicator.

why am I a duncof? yes i speak a little german that i learned from a girl once.

Anyway im not a fan of tyeing my hands behind my back but if you got something to show me im all ears coz albeit it a little eccentric i think you know a thing or two.

did you check out pipynotstocking’s thread? He uses a macd signal line devergence indicator that he swears by.

Im definatly interested if you want to show me the way to riches and fantastic lifestyle :slight_smile:

like i said im all ears…

20

Good (Saturday) morning ‘both of you’!!!

Well first off, I have to know:

Are THOSE ‘The McGiver sisters’??? You’d already impressed me with your insight and the wonderful anecdotes (I like the one about the trading secrets and the child so much that I cut and paste it and printed it out and also sent it to a friend overseas). But if those are ‘The McGiver susters’ then I’ll tell you this: you’ve OUTDONE yourself!!!

OK: I’m not going to go through my ‘usual Wilder routine’ here (I seem to be starting posts a lot more with that phrase of late don’t I) BUT there are one or two things that really should be noted.

First off: OTHER than MY trading platforms (both of which are broker proprietary) I’ve not found another one where the ADX formula being used is the EXACT formula that Wilder developed and this causes ADX to generate erroneous signals and the only reason that I have them ‘perfect’ is because I’ve spent a ‘lifetime and a day’ coding WILDER’S VERSION of ADX (as well as, as you know, all the other trading systems in ‘New Concepts’) into my trading platforms. The ADX that’s distributed with MT4 is WAY out; even the ones that were distributed with MY trading platforms were WAY out. And in addition to this: I don’t know of ANYONE other than myself and my clients who ACTUALLY knows how to use ADX CORRECTLY and as Wilder intended (and THAT is just ADX but I’m not going to bore you and comment on the REST of Wilder’s indicators that are also mostly misunderstood. Unfortuanately, in addition, for the most part: most of Wilder’s indicators are supplied ‘as standard’ with most trading platforms but with erroneous equations and the ‘online help’ or trading platform user manuals for some or the other reason only give a ‘brief synopsis’ as to how to use them which only compounds the problem further and validates the expression: ‘a little bit of knowledge is far more dangerous than no knowledge at all’).

So there’s the ‘Wilder lowdown’ for you. There can be no doubt that ‘the old man’ (which, as you probably already know, is how I affectionately refer to him) is a technical genius. To put it in perspective: while I was tyring to ‘call the bottom’ in the financials and the Dow and ‘buying on instinct on the way down’: my ‘Wilder stuff’ was SCREAMING to sell but, like all good ‘know it all traders’, who’ve now made a little money, and have convinced themselves that they ‘can do no wrong’, decided to ‘go it alone’. The rest, as they say in the classics, ‘is history’!!!

On the other hand, ‘the old man’ does note that ‘one trader’s cup of tea may be another’s nemesis’ which I’ve found to be true for sure except that my ‘nemesis’ is anything ‘NOT Wilder’!!!

As far as timeframes are concerned: ‘Wilder’s stuff’ is specifically designed to work on the daily timeframe because most of his equations are heavily weighted in favor of the CLOSE for good reason. Have you ever heard someone say that ‘we must watch the level of the Dow at 11h27 ET’??? No. But you’ll ALWAYS hear a technical analyst saying something like: ‘the Dow CLOSED today above XXXX which is what we need to see for … (yada, yada, yada)’!!! Admittedly: it’s support or resistance they’re watching which is what ‘mp’ refers to earlier. And I strongly believe that the price at which a forex pair CLOSES at 16h00 ET is as important and a price to be noted. I’m fortuanate in that my daily charts at my ‘main’ broker update at 17h00 ET (which is one hour after the NYSE CLOSE). Which brings me to another point: I have NO idea WHY people think that forex and equities are traded independant of each other!!! I can, on any given day, without even looking at GBP/JPY but having a chart of the Dow in front of me, tell you with, I believe, 90% accuracy, what GBP/JPY is doing at that time!!! The movements in equities ‘drive’ the movements in forex: NOT the other way around so if you want a ‘head up’ on what’s GOING to happen to GBP/JPY: FOLLOW THE DOW!!!

Right: I’m now ‘off of my soapbox’ and will be be sure to try to avoid the inevitable barrage of less than complimentary posts that will surely follow this one (from ‘forex only’ traders of course)!!!

Regards,

Dale. (forexbrokersonline.net).

21

[QUOTE=johnnykanoo;78134]so if lrc is s/r why use it??? then just say s/r is the best trend indicator.

Like women, fine wine, Iranian caviar broought from the SOUTH side of the north sea channel and vodka martinis that are shaken buit not stirred, there is the “ne plus ultra” and then there are all the rest, usually left for the plebes !

Now understand, because its a RIGHT brained solution to a LEFT brained problem, its utterly “in your face” pictoral positioning of ULTIMATE support and resistance AND THE DIRECTION IT IS TAKING, is the strength of the LRC.

since the question concerns TREND and not profit taking points, we immediately move to the overwhelmingly important part of the LRC – SHOWING TREND.

the support and resistance part of the LRC is just a neato addition to what you can see is the most valuable indicator ever developed by man.

but like bacon and eggs, ham and cheese, truffles and sauvaignon blanc, love and marriage and the McGivers and Me, there is often an “associative” quality attached to a single object, and the LRC serves DOUBLE DUTY

I have a very nice ma/macd divergence system ive used for years — even published the sucker a few places — dont know if same indicator but ill look.

ECCENTRIC — I shall definitely accept that !

mp