:D:D:D I think I’ve found my next technique.
Everyone - What husky_1 and lavaman just said has to be taken into consideration. This is not a colt following. These two members have confirmed that they do not hang off MP’s every word, follow his every direction, and/or only use his methods. They stated quite clearly - they will take from MP what works for them. This is the same for me, hence why I am writing this post
If ‘MP Methods’ (as I call it) didn’t work for me, I would not follow past, present, and future posts and threads. It’s as simple as that. I mean, why would you ?!? I’ve been studying the game for 6+ months, testing various methods, brokers, indicator setups, etc. I have never found something so easy to follow as ‘MP Methods’. I could never leave a drawdown trade open overnight and think it would return to TP’s, never. But now I can SEE where the price is likely to go. How good is that ?? It’s brilliant !!
Last nights trade: Read up on my last post to see where I was at before I left the trade open, with no SL’s, thinking it would return to my TP’s. Well, about 2 hours later it did just that. When I woke up and checked it, I was 222.5 pips happier than I was last night. I feel like a trader. This is the second or third time I have left a trade open over night, with no SL’s, thinking it would return to my TP’s due to various reasons. Is a pattern emerging ? Maybe, it’s early to tell, but I would try it again if I my thoughts were the same
You’ll see in the picture attached below, I opened 6 positions for the 1 trade. When price hit the LRC-Top, I opened my first position. Price then broke through. Now, the following may sound reckless but success followed, and I thought it would (by seeing where price may go), so I’m okay with it. Price continued up and every certain amount of increase I entered another short position, thinking it would soon return to TP’s. Approximately 50 minutes after opening my first position I was drawn-down about 130 pips, from my first position only. To be honest with you, I wasn’t feeling that great about the drawdown at this stage but after looking at some larger time-frames it eased that minor stress. I saw a slight reversal from the 0800 and 0805 candles and went to bed. Now, I am here typing to you about my last trade. Man, I sure appreciate being able to see where price is likely to go now. It makes trading a lot easier !!
Again, you can calculate how many pips were gained from the opening and closing prices. You should all know where these are located, but for those who don’t - opening ‘Price’ is between ‘Symbol’ and ‘S/L’ in the middle of the screen, and the closing ‘Price’ is between ‘Time’ and ‘Swap’ to the right. Either add or subject one against the other and it will give you the pips gained. Remember, the 5th digit after the decimal point is a point-pip, for example: 1.5 pips. My account is in NZD, so that will explain any confusion about the ‘Profit’ amounts
Sandpipper: Go the Multi-Quote function !! I tried that last time but the picture only displayed a little red ‘x’ in the corner, meaning it didn’t upload properly. Maybe I’m doing something wrong ?
Well done doggie, thanks for sharing. If you got anymore, don’t hesitate to post. 
PS - Dobermans OWN!
So whats wrong with SEEING anyway? Should kinda be the goal I would think.
Not sure if that was directed at me, or scarlet, but I agree that SEEing is the ultimate goal. Unfortunately for me, my glasses are still very blurry, so I need big road signs to help me out right now…
First of all, don’t get me wrong, I respect the man but…
There’s something I don’t get from MP. When you have a 500$ account, you trade with 0.10$pips, when you have a 20 000$ account, you trade at 10$pips. (No need to bable about that [B]please[/B], this is not the point of my post).
My point is, at his age, with his skills, MP should have a huge account by now. He probably can trade more than 10 lots… That mean, as you all know, 100$US for every single pips, and he claim to do between 250 and 900pips a day. That mean between 2500$US and 9000$US [U]MINIMUM [/U]with a single lot or 25000$ and 90000$ with 10lots [B][U]A DAY.[/U][/B]
So, I just can’t help myself, I wonder, why the hell someone doing that kind of money spend hours on this forum even after get banned at least two time for some reason.
Again, I have no problem with Mike but think. Imagine you make more than 2500$US a day, even if you very much like trading, woudn’t you be somewhere else doing something else than watching those chart all day long and spend so much time on this forum and possibly many others? Be honest, at least with youself.
That guy is suppose to be a millionaire.
Even if the guy LOVEEEE teaching and LOVEEEE trading so much, we have just one single life. When you have millions in your account and you just don’t use it, it’s more than just very weird.
Don’t you think?
Please, spare me the “you should be happy than he help and gnagnagna, again, that not the point of my post”.
Anyways, only Mike himself can really answer that. So, MP, what’s up???
There’s no need to yell or defend MP, I’m not attacking him, be smart.
Hey melisky,
Everyone certainly has different motivations for making money, and different things that make them happy. I don’t think it’s crazy to believe that someone who has millions of dollars gets pleasure from helping those that don’t. I know there are some millionaires that don’t even upgrade their house or car because they don’t want to show it off, and they’re happier staying under the radar and not inviting attention.
I’m not exactly one of those people, I mean, I think it would be cool to have a widescreen TV and own (instead of rent) a house. But beyond paying off some debt, taking a vacation once in a while and being financially stable, I don’t want a whole lot of stuff. Here’s where people are going to sigh and think to themselves “What, you lie!”, but here it goes. My biggest motivation for making money is to give money to causes I think need it and that are close to my heart. Sounds cheesy, but I’m for real. I gave up being entirely self-motivated several years ago when it was destroying my life.
So, I just don’t think it’s so crazy that this old dude enjoys spending time on the forums, regardless of his bank account size. I’m not defending or yelling, just sharing my view on it. I don’t pretend to know mp, so I can’t say anything definitively.
Man, I couldn’t have said it better myself !!
[B]When[/B] I make my millions one of my goals is to open a shelter/centre for street kids so they can hang out in an environment with positivity, instead of slanging dope on the streets and murdering each other. After all, they are the future of our planet. Money is a [B]TOOL[/B] and can make you happy if used the right way, but there is no magic number out there that automatically gives you ultimate happiness (or whatever you’re looking for)
Melisky: No offense, and I respect your enquiry, but look up the definition of “intrinsic motivation”
Will do my friend
Dobermans all the way !!
p.s. I’m on Yahoo Messenger - doggie.incorporated
The thing is MP isn’t a trader, he is a chancer. So he would rarely if ever trade more than a minilot per contract - if he makes 300pips thats 300 dollars. More often than not he would be trading micro lots and the 300pips would amount to $30
MPs “methods” dont allow for account compounding and he doesnt have a risk reward policy at all. He tries to hide from risk by trading micro lots and if a trade goes against him he lets it run down until it comes back to him, whether that be a week a month or if hasn’t blown the accoutn, again, year. Whilst the pip amounts sound great -account equity is were profit is realised. MP probably still has shorts on the EUR/USD down at 125 up to 130 and there probably negative-1000pips (-$100in micro lots)
He doesnt trade he chances and collects the profit when it rolls around.
All you need is 30pips a day and discipline and you can generate the profits you are referring too. MP will make 300pips a day, but he will loose 300 a day as well.
If you doubt it, ask him the lot size he trades, guaranteed, it will be micro to mino lots. He has even stated he only ever trades the one lot size - cause thats the only way his methods have a chance.
take a read through this thread
http://forums.babypips.com/free-forex-trading-systems/12716-gbp-jpy-equity-building-profitable-trading-strategies.html
one of the highest viewed threads on this forum - and just see how many accounts this type of chancing has blown.
Good luck to ya, but i hope your trading money you can afford to loose - or are you already looking at buying that new car
Trav72: I don’t follow MP and his exact trading style. I simply take what methods work for me and implement them into my strategy. Good for him whatever he does. To be honest, I don’t care how else he trades (micro lots or whatever). What I’m interested in is taking what works for me and running with it. I agree with you on the 30 pips a day. I’ve said that 25-30 pips a day is my daily target more than once, so I hope you already know this, or did you only bother to read one of my posts ? And your thoughts on letting [B]my[/B] trades run, thank you for your concern, I am however only testing this type of trade. I understand the risks involved. Thank you for the additional link
I think that’s what the problem is with a lot of people on here. Just because I follow MP Methods (as I call it), you automatically think I’m following his every move, word, thought, advise, whatever. That’s why I call it “methods” and not “system”, because if I was following his “system” it would be a whole lot different
I hope that clears up any misunderstandings on that subject
Im having a little bit of a difficult time downloading the SHI_Channel_true. Can anyone help me with this. Is there a program i have to download before i download this template. I have windows vista. Thanks
Here’s the Green one that most people use as well as a red one.
just put them in your …/experts/indicators folder and restart your mt4 platform.
SHI Channels.zip (7.42 KB)
Hey Sandpipper: The PDF, is that every MP post from the original MP thread ?
No, not even close. Just some of the pertinent ones that jumped out at me. Some of them are even from other discussions on BP.
I’m not sure what to do with this thread as MP has picked up over on FF. I’ll prob. just let it drift along for awhile and take its own course.
Okay, thank you
I’ll jump in here when necessary but otherwise I’ll be over at Forex Factory
Not a bad day today - 10 out of 10 in one and a half hours - 104.1 pips
Still demo trading MP Methods as I plan to go live on April 6th. The ‘Lot Size’ and ‘Profit’ figures don’t really mean anything to me. I’m after pips at this stage. See the picture attached for more details
Oh, and by the way, I consider the one break-even a winning trade (I didn’t loose anything)
Thats a good doggie!
Would you mind telling us how you have adapted MP’s methods to suit your own style? What are the main trigger points that get you into a trade, etc?
I followed a bunch of you over to the other place. I had not even gotten a chance to post here before things got shut down. Thanks for the PDF it helps a bunch.
Do my charts look right to you?