Mp -- Some Of My Non-secret Secrets

Beginner Questions
264

WOW — NEVER ending, doesnt it appear ?

well sweetpips,

as i said, the ziggies repaint, and one WAITS for confirmation on any reversal off the bottom LRC.

with the momentum of the news yesterday RE: the brits, the behavior of the pound could be nothing less, although i DID think it might reverse at midnite.

I am stuck in a few longs, which im not happy about, but ive been short many lots so the positions are protected and i have much more profit from yesterday than loss — problem is we are in NEW support for this beastie, and i have to watch constantly.

ANYTHING can happen here, but “desire” a reversal at the US open, if possible.

for this type of thing, the H4 and daily chart LRC becomes the only thing youve got to hang onto, unless you just forget eating, drinking and rest stops, and glue yourself to the one minute chart for the rest of the day !

we shall see because 113 is not as far away as it seems !!!

that said, my longs will come home to roost sooner or later, as i hope yours will also – unless you got out, in which case, why not set a “buy stop” at the point you exited, and let the currency come back, hit your point, and take that loss right back into profit ??

mp

265

Lol me too. the # 3 Dot will keep on going down and down like there is no tomorrow-luckily based on my squiggly line system, I also had a short opened-so that kind of compensated for the holes left by the long trade (well not really compensated , but sofetened the blwo :slight_smile: )

Happy day!

1tex

266

ok, its NOT an “i told ya so”, but somewhere in all that madness i post i always state to WAIT for confirmation — hindsight (20/20 of course) tells us that the EXTREMELY weak upward movement on the H1 and H4 with that danged number 3 dot yesterday should have pointed out to those who were really SHARP (and NO, i was NOT one of them), that things were amiss !) Even with my MACD divergence indicator, I made a few stupid long entries believing i had the upside room (fortunately, some of them actually got taken out, but not all)

ANYWAY, what happened is why I dont post over at TRO’s site about the semiphore, because i know it REPAINTS, which is a nice way of saying it can really get you into trouble if youre depending on them ONLY !

as sweetpip says, one would “normally” expect a bottomed LRC WITH a number 3 dot to be telling us its time to go long

Its the reason why i scoff at people who think indicators are only for past performance(thats not you sweetpips) and REFUSE to trade with them (congrats texan) and why i use the semaphore ONLY to show me part of a quideline for what the price is doing and NOT as a system !

Now I am TICKED OFF at myself for being lazy — i crashed a hard drive just a little while back, and instead of rebuilding some of my chart info, i used the semaphore ziggy — NORMALLY i use the ziggy with some arrow indicators that “tends” to show if the number 3 dot will redraw — this is MY fault, and i curse my laziness !

presently im playing the short side of the cable and slowly, microlot by microlot, throwing out some of my longs (as i profit on the short) to keep margin well under control.

i promise to get the “correct” ziggy indicators posted and apologize profusely for being so stupid as to let work get in the way of fun !

one might take a look at the midpoint of the daily LRC if you want a bad shock, and while i dont think we get there, PLEASE check midpoints on all your longer range charts for a good idea, as what i have showing at this moment is certainly subject to change.

back soon as i can

mp

267

I think that sometimes all of the SR/Semaphore stuff gets a little “magical”. If you took a look at the candlestick patterns on the EURUSD and the GPDUSD, there was decent Bearish engulfing on the D1’s. I only did a small play on the GPD, because I seem to get burned by the EUR seems to be looking true.

The USDCHF, also broke out of its channel, I had a buy and stop limit around the past few week channels. Its not a strong move, but good for about 100 pips.

Last night was pretty good to me in total - 0 losses, +342 pips. I ended up closing my overnight trades a couple of minutes ago, because I have to go to a meeting and will not be able to watch for the 11:30 “Give back” and seem to not have the nack for trailing stops yet.

I did not hit my TP levels, except the small TP on the GPD, but at least I picked the direction. Someday I will remain confident in my profit level forecasting and let them play out…

BTW, I probably have no clue since I am a newb and am still on demo, but hope to be live (micro) by the end of the week. f

268

Yoda,

I read one of your posts on another thread this morning. For whatever reason, it prompted me to go out and get a local business license an am looking into some things… would love to share the name, but, we’ll wait on that one… lol

Good Pippin, I’m on messenger,

Chubs

269

Dude, I am cool with having lost 40 pips and in no way, no how blame your “ziggies” for the recent misfortune- I knew when I went long at the rebound from # 3 that the buying pressure was too low. And I dont use neither the LRC, SHI nor the ziggies as a system. I do use them as to get a confirmation (in the other way around) about the feasibility of the trade I am going to make-yesterday I won on the short, lost on the long- Why? Because I was a lil itchy and went in both directions just for the “heck” of it- Now to be true-I should have neither gone long nor short in those “conditions” but hey what do I know-am just a n00b. But I also believe that I don’t learn if I dont try it- though I lost pips, I now know another scenario in which “not to trade”

Take care and trade well.

1tex

270

Any thoughts about the eur/usd…rebound in sight? Am I the only one who think there is still some room (I would say about one hundred and fifty pips) for it to go south before it comes up??

271

Wouldn’t know, I don’t trade that pair much anymore. Looking more in the direction of G/U and U/C as of late. hmmm, I wonder why that is… lol

Good luck and good pippin,

Chubs

272

Once upon a time I use to think and trade…
Now I watch to see what others are thinking and then I trade.

Just one man’s opinion

273

Lol. I had a dream :slight_smile:

Nah just wondering the way it has been coming down from some time I guess.

274

Well must say ezinvestor, you been a awful lot luckier now a days, See I have tried hard too for that mind-brain-heart thinking trinity piercing goggles, but could nt find em so far-do you have a spare piece :slight_smile:

Good luck trading! Njoy!!

275

PRESENT BOTTOMS SHOWING on

GJ ---- 123.60

gu ---- 1.3772

both on the H4, but i never consider that totally reliable until the midnite candle comes in.

mp

ps – congrats chubspips

276

hey Husky,

not so sure about magical, but the h4 heiken ashi had a nice reversal candle on friday that precursed the move down, prior to the bearish engulfing on the daily, we had a nice doji reversal candle and a definite ma x-over move to the downside,

the problem with candle formations is you have to wait for the candle to close, and on GU that meant a whole heck of a lot of pips — and while a bullish or bearish engulfing is a nice thing to see, invariably you will find that the price has ALREADY hit its support or resistance area and the close of the “engulfing” candle can be up to two hours away from that point, or if working the daily candles, a day later than where the reversal took place !

the problem with semaphores and the ziggys in general AS A SYSTEM, are that they REPAINT under times like this — but if during all this, one used normal indicators also, then there would have been some warning as to what was happening.

NOW, a “normal” run like this is usually good for 2.5 - 3 days before everyone gets itchy and wants an opposite move, so i shall watch intently at midnite, est - 1:30 am, est to see if the currency pairs im playing hit the target i gave before and reverse to the upside

imagine NO sleep tonite at all !

mp

277

Tex,
I think today (trading day just started) will be a bull for the EURUSD. Lots of talk how the $ was going to rally yesterday (GMT) because of the inauguration. Then again the Dow was down so who knows, but I am +78 on that as of 9:00pm EST.

MP,
Thanks for the insight. I totally agree with you that you have to wait for candles and loose out on some of the pips. For me, I am willing to give up some pips in order to secure a respectable amount. When I have tried to play the bounces and time frames in the past I got burnt. For now i am perfecting my D1 time frame (albeit not maximized) and the work on lower time frames and maximizing my pips.

278

BTW, just took a look at the EURUSD H4, and see some resistance at the 1.3025, do you guys agree.

I got in this up trade now since its at the bottom of all my channels, and Stochs are low but now on the rise.

The other trade I have open was from my daily signal, so that is 2 trades on a EURUSD bull…probably not very good risk management

279

CNBC, having little else to say today, claims that the majority of trading days during the past innaugurations are down days, so i guess this was yet another one.

mp

280

3030 but whose counting and it just happens to be the mid point for the LRC ---- geepers !

i like to see stoch over 20 at least and way happier with 30 and then get all choked up if it stalls at 50, so watch CCI for topping if stoch hits 50

mp

281

See now, this is how I learn, by looking at whats currently going on and then letting someone show me what I do not see. Hands on is the best way if you ask me.

Thanks for entertaining me on this one, I would have never thought about the stoch stuff, but now I see what you mean.

282

I heard that about innaugeration days to but then I also heard Kathy Lien say that Obama is a modern JFK coz he is a world phenomanon or something and on JFK’s innaug it was an up day but it looks like the dow took a beating. Bad for the dow is good for the dollar no? Risk aversion allthough the euro is going strong. Ahwell what can I say the markets don’t even act normal anymore its a new world out there. Talk to you guys later. I need a drink!!!

283

This little sheep would like to report his progress. After spending the last 3 days gouging my eyes out, feeling as I was born to be the village idiot because I couldn’t understand everything the first or second time through, a little tiny light creased the darkness of my mind. Now mind you it is no more light than the residual glow on your finger after smushing a firefly on a warm summer night, but it was something.

With this small encouragement I decided to take Barry, Ziggy, Shi_Chan, and Semafor out for a test spin as I was beginning to see their usefulness in reading daily and intradaily trends. Unfortunately I had to leave Mr. LRC at home because I couldn’t figure him out as such, or at least his usefulness, even though he does seem to be somewhat favored by my larger circle of friends.

Well these guys didn’t let me down I have to say. The steered me true and straight. I did four trades on my measly little $5,000.00 demo account and came out on top of all four.

Trade:

  1.        E/U  17p

  2.        E/U  7p

  3.        U/J  25p

  4.        E/U  29P for a total of 78pippers

Obviously I was pretty pumped, but I also realize this does not a trader make, far from it in fact. I still have to figure out my MM as well even how to use my mt4 Platform and of course about million other things. But I’m beginning to see the trends, understand S/R, figure out where the next reversal is likely going to be and understand what you guys are talking about with your acronyms etc so again I’m pumped.

Many thanks MrPip and 1tx and others I’ve read pages and pages of backposts to keep from being an annoyance over here.