The Forex God Has Spoken! Thanks again, sir. Once again, I’m off to make $$ whilst standing on your shoulders!
HEY NEWBS - - -
REMEMBER when i told you to use a pencil to estimate how far a move will go — cmon, you remember; by looking at the stoch, reading what the number is (lets say 50) and then measuring (with the pencil) how far the currency has moved from where it started and then figuring, well . . . . . its moved 50% so far, so ANOTHER 50% will take it RIGHT HERE ! (and hopefully you gots a fib or s+r number RIGHT THERE, so set your tp at that point and have a shot of old overholt !
WELL, heres ANOTHER use for that magic pencil ---- when using the LRC and the currency DROPS below the midpoint and THEN REVERSES and breaks the midpoint heading UP, measure HOW FAR DOWN the currency dropped from the midpoint, and then apply that space to the UPSIDE of the midpoint ---- CANT swear it happens each and every time, but you will be amazed at how often it does happen !
and anyway, gets you in the ballpark without sneaking in !
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]
I must have missed the initial magic pencil, I tend not to use stoch’s, but I will add it and see what I can get from it.
Back to the SHI-on-Five, i rarely see the SHI on the M5, I see it on everything else though. Not really sure why it would show on the M1 and not the M5.
Do you still not see the shi channel on the M5?..finally got to my charts and just as I thought…it’s really wide…had to zoom out to the max but it’s there…:eek:
My Shi channel is back on the 5 min E/U. I think it showed up again around 7pm EST. Maybe Forex is haunted. Dam, now I scared myself. I gotta go turn on more lights.
I just want to come out of the woodwork and thank mp1640 for taking the time to post this thread. As a noob we look for someone to help us make sense out of this crazy world of fx and I for one have learned so much by reading your posts. (many of them many times) I’m definitely not caught up to speed yet on all the information your sharing but it is slowly sinking in.
It amazes me that all you guys out there who are successful at this and making money still find the time and have the patience to help the never ending string of noobs that show up on this here “internet”. I hope that when the time comes that I can sell my business and all the hassles that come with it and can trade full time that I will be as generous.
So again. Thank You.
step Away From The 5 Min Chart With Your Hands In The Air !
Hey Sandpiper
YOUR post is the reason for sharing !
thnx
mp
Aww that is cho sweet.
Sandpipper I am glad you made the right observation 
keep up the hard work, get the right knowledge from right people and get success with fx
Another question for you Mr. MP: When looking for price to bounce of s & r and Shi Channels, do you find the same behaviour consistant in all the majors? Is there a major pair, for example, that is more prone to going range-bound at odd lvls, or some such other anomoly? I’m having wonderful success but I’d like to trade more pairs.
Thanks again for all your help. I feel like your helping me purge myself of my stupid. Now I just need to make sure that I stay emotionless in live trading like I have in the Land of Make-Believe. I opened a small live account yesterday and it made me so nervous that I might need to start trading in a diaper instead of Spongebob boxers. I’m truly sorry for that visual.
Dude I am a guy, and normally sickened by such sentimentality as contained in my last post and outraged by the condescending tone i picked up in the quoted reply!!! For some reason, today, neither negative emotion afflicts my soul because it is true, I really am grateful, so why not just come out and say it. 
I can’t imagine trying learn this stuff by just staring at my MT4 Platform and its host of confusing indicators and mysterious overlays, it would take more years than I have left in my life to figure out and I’m still fairly young.
But let me digress.
For the last 15 years or so, after harshly being thrown into the deep end of the working world and told to figure it out, various work experiences have been savagely beating me over the head telling me to learn something. My savage beatings have pretty much burst the bubble of my disillusionment concerning owning my own businesses. For years I thought that the perfect career had to do with small business ownership and to some degree I was right, but I never factored in the baybsitting of employees, incredible amounts of bookwork, liability, lousy economies, etc.
About 1 year ago or so I sat down and “just for fun” tried to figure out the perfect job scenario. I came up with 3
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Independence - no boss, no employess, just me being able to provide for my family which by the way there are very few jobs out there like this.
-
Mobility - I want to live anywhere I want and have a career flexible enough to follow along. Again not too many jobs out there like this.
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Challenging - I don’t want to address envelopes, or screw caps on toothpaste tubes to meet the first 2 requirements.
To be honest I really didn’t think it was possible to find a job which met all 3 criteria so I shelved the idea. 6 months ago or so somehow I stumbled across babypips and I started reading skeptically. For the sake of brevity, lets just say that after much reflection and quite a bit of time I decided that why not go for it. I’m here with the mentality that I’m going to grab FX trading by the horns and not let go until I subdue the beastie (i.e.figure it out) taking my bumps and bruises along the way. The big problem as a newb is that its tough to even find the horns to grab. Fortunately on this here forum people such as mp and others who have tamed the beast step in and offer to help, and it is for this reason I’m thankful. So let my thrashing commence!
My little quote at the bottom of my screen says.
"Nothing happens unless first a dream."
Carl Sandburg
Appropriate way to close this little post.
A sincere Thanks for the encouragement 1tex!
SANDPIPER,
as avowed leader of this small group of merry men and women, one texan was posting with the tongue in cheek athmosphere set by myself, a true master of the universe and the space time continuum and meant nothing that could be construed as being on the downside of the EMA 50 !
looking at his post, i believe he was directing that bit of sappy goop at me, so get your ego in check and understand that im the big kuhuna around here ! (LOL)
ALTHOUGH texas men are not my cup of tea (but OH, their women !) i understand him to be a joyful, if not always drunk imbiber of forex and other spirits and was offering up a fun reply to you !
NOW – go outside and LAUGH for a minute straight, even if you have nothing to laugh about — it will make you feel GLORIOUS !
then prepare for next week and your new yacht !
BTW – please note that i am now a “superior” kinda contributor guy with only 43,000 posts to catch up to sweetpips, so its time for me to spam the site so she and i can walk down the golden rayed halls of this site on an even basis !
enjoy and trade well
mp
hey sandpiper,
as much as my water pipes are frozen, prohibiting bathing, which makes me smell like an overheated rhinocerous on a REALLY bad day, the world remains a wonderful place to grow up in — it could be that i have enough of a past to have a past, and see that it was MORE marvelous than i could ever have imagined.
in high school i was the class “loser”, a loner in a school famous for its party spirits (yeah, those also) and i did NOT fit in at all — my yearbook had a single entry – “life is just a bowl of cherries !”
not for thousands of years later was i to realize just how prophetic that quote was to turn out to be and what effects it was to have in guiding and altering my life !
failing high school i wandered into the auto repair business based on tghe only thing i really knew – British sports cars, after giving the marine corp some consideration (NICE uniform) but everyday situations contrived to force me out of simple “mechanic” and into upper management somehow.
racing cars for a few years only proved once again my “loner” status, as TEAM sports were anathema to me — once on a job interview i was asked about myself and responded that i was NOT a team player, but rather a superstar ! (well, we know that was insecurity speaking, but that was to drive me forward for the rest of my life, and in the most POSITIVE of manner)
around the age of 30 i was divorced from my first wife (she got the Nikon and i got the E Jag — no other “children” or property for these hippies) and set adrift in “nowhere land” once again — without a thought on my part there appeared a government program that applied to me (my father was killed in WW2 and somehow i was eligible for some magnificent government aid) if i wanted to go to college, and with nothing else on my alleged mind, i placed my X on the dotted line !
so i went to college and studied psychology and dabbled in the liberal arts until i found a snap course called “film appreciation” — what could be easier for a man who wanted to get thru college as quickly as possible than watching some dumb movie and writing a BS paper and grabbing a few credits ???
THAT course changed the way i saw “movies” and there was absolutely no turning back ---- i registered in NYU’s school of the arts, film and tv (i had the choice of UCLA also, but enough with the moving around and changes in my life – i divorced a brunette so why should i now go looking for a blonde ?)
once again, since “life was just a bowl of cherries” I NEVER knew i was entering into one of the most difficult industries to move ahead in, with the possible exceptions of finance and advertising !
many years later, having risen to the number 2 -3 spot in the USA for photographing women (you gots to wait for all the others to retire or die off to become number 1), I retired due to a rapidly encroaching heart problem and also went thru the gut wrenching process of a second divorce, this time with all the accoutriments including children, property and a women who i had never met before ! Oh yeah, THIS one was a real blonde — talk about funny !
during the 28 years of filming, i traveled the globe 3 or 4 times, got sick and tired of “what, another white beach and blue water ?” or “its tuesday, so this must be Argentina” and met, photographed and associated with what the press might refer to as “interesting people” — from “wannabees” to presidents of many a country (the Pope was kinda fun, but pizza in Rome aint what it is here !) Serendipity had struck with a vengence, and life was “just a bowl of cherries !”
during THIS second divorce, confusion reigned supreme and naturally NOTHING made a lick of sense, BUT along came that wonderful serendipity that had been with me all my life(and electronic trading was breaking out for real) and i hopped on trading like mad, NEVER turning back !
i would love to say i took to trading like a duck to water — that i was the penultimate “natural”, but I made MANY a mistake and lots of money (mine and others, im sad to say) were intertwined until things fell into place.
ONCE the “click” of the lightbulb hit, and i could SEE what was happening (im a right brained, “artsy” person after all, which is why i use VISUALS for my trading), the rest is serendipitous history, as they might say !
If a wandering high school semi drop out failure with not enough guts for the Marines and with no mind for detail or planning and a career path that stumbled over me in show business can interest doctors into handing over their money, then ANYONE who DESIRES it should easily be able to make it over time and even, does one DARE think it . . . . . . . . . become a success !
just take each day as a step, and keep walking forward — when the time is right, it will be the right time (kinda had to throw some faux zen in there !) and there will be many a “teacher” in your life, some coming from the strangest places, so listen well, practice what you hear but most importantly LEARN to SEE what the banks are doing and where they are heading (news creates the “speed bumps” in the road, but its a rare news item that doesnt allow the price to come right back to its “norm” or “mean” — over time, you will SEE that and then you can form your OWN particular method, which could be a state of mind or the cross of moving averages or any of a thousand other correct ways of trading.
me – i use support and resistance and the midpoint of the LRC as an exit point and I WAIT for confirmation of any moves PAST those lines, which, in the case of the OUTSIDE lines USUALLY do not last long — like the bolls, when the price moves OUTSIDE the channel, it USUALLY will come right back in a day or two unless there is some earthshaking news to have moved it permanently.
other uses for that neato LRC is to use it on your weekly, monthly and yearly charts BECAUSE THEY SET TRENDS, highs and lows, ALSO and theres NOTHING like the bragging rights you shall achieve by telling everyone else the day this or that currency reverses for a year long move !
i engage in whats sometimes called “tops down analysis” so i look at the yearly charts to see whats going on there, and move down to the chart i desire to trade in (using even lower timeframes for entries, of course !)
Running a business is hard work, which you fully understand, and is one reason why so many people WORK for others, but the satisfaction of being your own boss are very decent rewards and builds a “character” that will serve you well as you accumulate money AND learn forex, you will be preparing for the day you go completely SOLO with forex — its exciting, stomach turning, aspirin and scotch laden and i wouldnt want to do anything else in this world, and ive done a lot !
Trading is the “ultimate” form of “freelance” job there is — just you, your tools and your mind AGAINST the dungeons and dragons of the financial world, and its truly amazing to see how well you can do against those mighty adversaries !
“slow and steady wins the race”, and what a WONDERFUL and REWARDING race it is !
enjoy and trade long and well
mp
The sandpipper
it is not YOUR ignorance that fills my days with wonder, but my own ---- over the number 10 and things get REALLY difficult for me !
hug that little 2.5 yr old sweetums — by the time shes 17 you will have NO hair left, be on a steady diet of malox and probably certified as an alcoholic !
they are SO sweet, and then WHAM !!!
gots 2 of my own – 1 living and working in NYC and one schooling in NYC
as stated by so many wags — “girls are G-D’s way of getting back at men !”
ENJOY
mp
Living in the south it is hard to imagine frozen pipes…Hope they don’t break on you! I feel for Slink your little NASDAQ ferret hopefully his olfactory senses are on hiatus.
Thanks for your transparency in the rest of the post! Sounds like you have been around the proverbial block a time or two and of course its always interesting to know a little bit about the people that you talk with on this here internet.
I am currently going back through a bunch of your old posts trying to answer as many questions as I can from what you have already written before I start spewing forth my questions.
the sandpipper
I am in denial that she will ever reach 17! Thats one of the reasons why I gotta learn FX soon, I only have a few easy years of parenting left. In about 8-9 years I will need to concentrate on keeping my fairhaired daughter locked up in her tower and the fairhaired lads on the other side of the moat. I hear her waking up even now…
I have a few questions when you have time, if you have time available. I am open on the channel we used last. Ohm onnipadmay ohm… lol, and humbly await.
Thanks for the time you have spent… btw… nah, it will wait. Don’t want to scare anyone.
Great session this past Thursday night/Friday morning.
I would say good luck and good pippin, but I already know, so have a restful and joyful weekend if I don’t hear back.
My regards to you and yours,
Chubs
lol, the true master of the universe has quipped again and one more time demonstrated why no one else even comes close to being MP…and my worthy forex co-learner Sandpiper, though true in his intentions and free of malice, just showed how we all take ourselves too seriously and fail to see “outside of the box”. In Texas we tend to be big (of heart, and trucks, and waffles :)) and on the right-and never sickened any point of view, sentimentality, mentality etc etc etc etc. I could go on and on-but the crux of the matter is that yeah all love (and sentimentality) was pointed at MP, in a fashion that you have when you are awed, terrified, stupefied, glorified when you encounter something, someone who is greater than what you can or are able to comprehend Hope it makes sense. Yeah keep the ego in check-as pointed below, all sappy goop was pointed to the Biig Kuhuna
As for Sandpipers 3 point wish list-well there is no reason on earth why that cannot be achieved if that is what you really want- I am 27, and finished my schooling 3 years ago with an advanced degree in engineering (read Masters) at top of my class-got started with a comfortable 9-5 at 70k a year which will be rising to 87 K next month-paid of all my cards, student loans, and then this not so nice recession happened- though mine is a kind of gig in which the whole 300 member team cannot survive if I take a single sick day off, I am still got to thinking there ought to be a way I can beat this constant sword hanging on my head-which reminds me everyday how insecure my financial situation can be if I am laid off or if my job is outsourced about 4 mnths ago.
First reaction was to look to the stocks- but being fiercely independent, and a loner myself-I felt that stocks are not my cup of tea-they are too “controllable” by factors that I cannot control. Then stumbled on to forex and discovered what a force this is if you know how to tap the beast. started demos and then stumbled upon technical info on this forum and guidance from Mr. MP. And the rest was, well could be history
I owe a lot to MP, and look forward to him as my mentor-and for some reason I dont feel any shame in saying “MP is totally cool” or worse “Mp is cho cool” :eek:
Hahaha Please dont be offended. It has nothing in it that ought to give you a reason to feel bad about your being a guy.
hope it makes sense
To those who are learning and are on the path, it is a great treasure to be in such company. To the teacher, its great to see what I am aspiring to.