Mp -- Some Of My Non-secret Secrets

Beginner Questions
418

Hey Sandpiper, I just count candles back. I posted 2, the 24 candle and a 128, but there is a setting that you can change it to any amount of candles. I find 80 works well, the 24 is not much use on this m1 though.

Really, Its just a matter of setting a number that looks good for you! Please do not make the mistake of thinking my time frames and lines are even close to the an end all be all, I am a newb trying to find my edge with some price action lines. I post these so that others maybe able to easily edit them to find their own edge…Which I truly hope we can do here…

419

LOL – Husky is falling into the “traders trap” that I find humor with !

I know people talk of an “edge”, but its really something I laugh about and lives in the same land as those who quote “the art of war” as a psychological basis for how they trade !

edges and “advantages” are illusions — you either know or you DONT know !

I win an awful lot of pips playing this little GAME of forex, and i have NO edge, only a solid grounding in the basic rules of how the game is played.

Last nite i was on yahoo with a trader from this thread and we talked of many things while trades went back and forth – showing how i use s+r, the fibs and trend demonstrated my “edge”, which was NOTHING more than grasping what and where the price was doing and where it was going, over a number of timeframes.

theres no grail, no edge, no advantages, no crap shoots – its simply knowing the trend, knowing when things reverse and observing s+r and if these levels are broken which means we move to the next level ---- EDGES are for razors and knives — education and experience are for TRADING !

actually, this is a rather boring game, with its moments of excitement when things move quickly, but essentially its really no more than hitting buttons at the correct time and could probably be done by a barrel of monkeys if they had enough margin available !

please note that this is NOT a rant, but just another wee lesson in this wonderful game of trading !

enjoy and trade well

mp

420

MP, Just a little fun here around the word edge:

[I]Edge:
A slight competitive advantage; “he had an edge on the competition”. (WordNet Search - 3.0)

[/I]

So you admitted that this is a game, and you admit that you win. How is it that your understanding of the market is not an edge then?

p.s. I am not really a fan of calling it a game or competition, so I agree with your statements. However when I had used the word edge, I meant it more like “glasses”, allowing you to see what is there without squinting too much.

421

never fall into the trap of taking me TOO seriously !

i laugh a lot at men (always men) who see this as a war, competition or struggle against strong odds — for me its a fun game and a way to earn enough to start buying third world countries, where i can become an EMPORER, which i think is kewl, and moving forward in my own small ways !

it wasnt a rant, just a fun situation and i grabbed a word you used to increase my post count, like a writer for the ny times !

i just dont take any of this very seriously, because it is JUST a fun game with real money and “game” has NO reference to “competition”, cause i am only competing against my own self — i either do “right” or “wrong”, but do not ever believe its ME vs THEM ! (EXCEPT at 6PM when i make a move and some trader over in europe counters or changes direction on me — but thats ANOTHER story ! (just cause youre paranoid, dont mean they aint after you !)

LOL

mp

422

:slight_smile:

Banter…thats all, not taking anything too serious today since the grim reaper is about. At my real job we are in the middle of layoffs and escorts (not the fun type) posted around the building make it hard to concentrate.

To lighten the mood, the 22 pips I just “won” while composing this reply helped some. I did break my rule about not trading between 930 and 1130 but the 3 crows loomed over the Cables m1…

423

Hi Sir,

You realized me that apparently I believe in chess psychology, I don’t believe in good moves, I don’t believe in Forex psychology, I believe in good trades. It’s strange but it is the truth and thank you.

I win an awful lot of pips playing this little GAME of forex, and i have NO edge, only a solid grounding in the basic rules of how the game is played.

Sir, I have a humble request. I want to play a game chess against you. And I don’t know how and when as I am very busy. Just for fun. If not possible it’s ok either. Who I am, a middle-class wireman, to play chess against a chairman of a company.

Last nite i was on yahoo with a trader from this thread and we talked of many things while trades went back and forth – showing how i use s+r, the fibs and trend demonstrated my “edge”, which was NOTHING more than grasping what and where the price was doing and where it was going, over a number of timeframes.

See you at Amoeba Drop, Yahoo Chess if the connection will not be broken, if you would be glad to play.

Play chess, I win I can laugh, you can laugh, I lose I would be very frustrated, you can laugh. BTW I laugh at women (mostly women) at playing chess just I am losing.

i laugh a lot at men (always men) who see this as a war, competition or struggle against strong odds — for me its a fun game and a way to earn enough to start buying third world countries, where i can become an EMPORER, which i think is kewl, and moving forward in my own small ways !

Neither pride nand sorrow of.

For me chess is chess, Forex is Forex. Very big differences.

Enjoy and play well. :slight_smile:

424

Mr. Pimper this qualifies as one of the strangest posts I have ever read on any forum. I read your post 3 times and still have no idea what you were trying to communicate besides you want to play mp at chess.

cheers.

Words differently arranged have a different meaning, and meanings differently arranged have different effects.
Blaise Pascal

425

Lol, I guess he is just offended that MP took a condescending attitude towards a game of chess and how fx and chess are different games :slight_smile:

426

[B]of course, there are the fractuals and the bressert still to talk about before i can begin to wrap this all up.[/B]

427

INDEED ---- although there was NO put down of chess, as i likened forex to THREE dimensional chess (up, down and sideways, and possibly all at the same time, which you must agree is rather hard)

i just see forex as a game with decent returns, far better than sitting here playing “space invaders” clones !

he got miffed over something that wasnt said — oh well !

mp

428

Thanks for the great reply to my questions!

Whippy?

429

slightly calm and has a trend, but qualifies for sure

mp

[quote=sandpipper;8801

Whippy?

[/quote]

430

Ok, forgive and forget, the game and the argument. Let’s concentrate back to make money. :smiley:

The lesson I learned today:

Don’t kill your passion, don’t be like Paul Morphy or Bobby Fisher. :eek:

Enjoy your passion, be like Adolf Anderssen or Garry Kasparov. :cool:

Peace. :wink:

431

Ha Ha…You really know how to “sweet talk” a gal…lol

However, I am perfectly happy with my ADX/DMI combination, overlayed twice with different values, that I’ve been using for quite a while now to do just that…:stuck_out_tongue:

At least you got the “lady” part right :wink:

:slight_smile:

432

Ironically, I’m thinking back to a college professor who used to say: “The only dumb question is the one you didn’t ask”. No, he wasn’t looking for stupid questions, all he meant was that if you need clarification, then ask.

Ok.

So I’m trying something new. I’m watching instead of trading. So far I haven’t lost anything (that’s a joke, because I’m not trading, haha… my attempt at humour).

I’m having troubles understanding Barry’s S&R. I’m pretty clear on pivots, fibs, support and resistance and how they work, heck, even the psychology behind it all.

But Barry has me scratching my head. In the attached chart you can see how the candle at 1340hrs breaks the resistance level and then closes just below it, and at 1345hrs it then punches through the level and keeps going up. Now in all other forms of S&R the resistance line would then become the support line. Is this true in Barrys? But then the blue support line is still running along the bottom? Then it is not until 1400hrs that a new resistance level is set. So whats going here? What significance does the broken resistance line have?

I tried looking this up on my own. I spent a few hours googling it all and came up with nothing (except why a few people think that their system is better than barrys, I don’t know, because I haven’t figured out barrys yet!).

I’m not strictly reserving the space for an answer from MP. Any of the other students are free to help my wrap my pea brain around this thingy.

Ironically I feel like I’m back in school. Sitting in the back corner trying to figure out what’s going on as everyone else already understands it. On the upside, once I do figure something out I do understand it. I’m a little slower, but gosh darn it, I am a stubborn and persistent bugger. :smiley:

With thanks to all!

(Also I know that I don’t have the ema lines in the MACD box yet, I’m just trying not to overload my poor brain. One thing at a time. :cool:)

29-jan-09 eu.jpg700×378 32.5 KB

433

or even Paris Hilton !

passion is passion, even if it aint chess !

LOL

mp

434

sweetpips,

while no adherent of the ADX, i have often spoken about the fact that it works ---- like MOST if not ALL well thought out “systems”, and cannot and will not enter into THAT conversation.

BUT, i smile to notice you use TWO DIFFERENT VALUES, as i posted about along the way, and therefore thank you for what must be a very hard earned confirmation of some “deeply buried” ideas !

While i could never consider you to be anything BUT a LADY, i also recognize the dichotomy of emotion that lives within the Canadian soul (which i will not address further) and raise my glass of single malt to your ADX success !

what i do here is NOT show a system, which I understand many would love (although if one takes a solid bounce off the LRC line and exits at the midpoint, there will be MANY a lovely pip banked on that move alone) but rather to see and understand what ANY system or LACK OF SYSTEM shows in the wonder world of worex ! (ok, a little writers license there !)

Far fewer will be those who truly understand what i say here, and thousands will flock to the shores of the gurus who present “systems”, and many more will seek the sellers of support and resistance points, so they may just plug the figures into their charts, place their trades and go off to their 9-5 in the factory !

But for the very very few who grasp the meaning of whats being presented here, they shall be able to trade ANYTHING, ANYWHERE, ANYTIME and ANYWAY they wish, for THEY can wear the mantle of TRADER with pride !

they will be able to enter or exit a trade ANYWHERE they desire and not with the need for this line to cross THAT line, or this dot to do something clever ---- [B]they shall be able to SEE !
[/B]
enjoy and trade well

mp

435

Hey MP, I am trying to follow along here and have had mixed results. I like the idea of not have a “TI” based system. So far it seems as though scalping the M1 is my only winning strategy right now based on my first 7 trading days.

I was looking back to the 1-330 and 6-14:30 time frames and am still not seeing it, at least looking back over this past week. I do see a major move between the time slots, but do not see how to predict this in a consistent way. One little thing I noticed is that the end of the 1-330 the move seems to start, but some days this does not hold true. Please point out your method on the attached chart.

Also you may already done this, but would you mind posting what you use on your charts for indicators and such?

timeframes.jpg700×392 54.6 KB

436

enjoy and trade well

mp

437

Paris Hilton trades Forex?

Well if Paris can trade,…