That’s from a post way back there. I think it’s #427. Maybe you didn’t see it.
I’m also interested in learning more about Barry’s. I don’t see that the price is effected by it in any further movement. It just places dots at every new high or low and the price moves on through it on it’s next move that direction. So, I’m not sure how this is supposed to be useful.
Many thanks.
suport and resistance, like the fibs and the pivots, are POINTS to watch for reversal or breakout — in and of themselves, they do not provide the ULTIMATE and FINAL tp point (but the bols usually does), but are traded in many ways.
one can place trades on the lower timeframes (scalps) and wait for the resistance point to be hit, which will normally result in a down move to support — at that point one can then go long again to catch the next upmove.
one can trade the H1 and set a tp for an overnite trade according to the highest resistance area, once again keeping in mind that the bollingers is almost ALWAYS the final point the currency reaches on that run !
it is a point on the map — to be watched fore either profit taking or continuation, and if there is continuation there will invariably be a drop in price after being hit, if only for the banks and brokers to load the boat at the lowest prices possible, in preparation for the next upside move.
its not a god — just a point, like the pivots, the prior days close, prior days high and prior days low (depending which way price is heading)
mp
They all are just points. It doesn’t matter what they are called. Only a mind gives one point more significance than another point.
mp
Allow me to take this opportunity to express my gratitude for all you have contributed in these forums. I have been learking about and trying things out. Others seem to be gobbling up more pips than I, so I’m not sure how well I’m catching on. The channels seem to offer more insight for me than the horizontal s&r.
I keep reading posts and watching the charts, hoping to learn to read them more clearly.
Thank you for taking the time to answer nube questions.
condor
enjoy and trade well
mp
Yes indeed. Unfortunately it was nothing but a demo winning trade, . I can vouch, that even though I have not pulled all his teaching together, I still am having great success on the longer time frames in my stupid demo account. I think on the last 25 trades or so I have only had a couple of losers and this was done on the 5,15,30 and 1h. The question is if I can transfer to a real account.
I still don’t grasp everything though. So I am spending the night going back through this thread once again trying to “GET IT”.
to confuse sandpiper even more, ive attached a thingie called the “bressert DSS” indicator.
the “dss” stands for “double smothed stochastic” and i use it with only the RED line in play, although one could make a case for using the signal line cross also.
normally i attach it to the normal stochastics panel and while “extreme” whippiness can create some unhappiness with its movements, under almost every other situation it gives you a ONE QUICK LOOK TELLS THE TREND idea.
normally i use it on the 15 minute chart when sorta scalping, because i can tell which way the one and 5 are going, but i then can see if the 15 has been affected by whatever is moving the one and five.
other words — if the one and five both go DOWN, and the 15 continues to point UP, i know when all is said and done with both the one and 5, the trend will CONTINUE UP !
install in the normal manner — close the mt4 program, open the program FILE and wander over to EXPERTS which you open and then find INDICATORS and plunk the file (unzipped) into indicators. When you reopen the program it will be in “custom indicators” and you can set it up alone, or with your stochastics ! (or any danged place you want it)
now if you dont think thats handy, its time for me to give up completely and begin roasting peanuts in georgia !
enjoy and trade well
mp
DSS Bressert.zip (973 Bytes)
Your research and development tools constantly amaze me. Where do you come up with these jewels? Sorry, I know, that’s the secret… lol 
Sorry I didn’t have my normal good humor last week as I was a little busy with a fire of my own and have been busy trying to find a reliable ECN broker to move forward with… hmm, frustrating.
Good Pippin,
Chubs
so im trading eurusd, and on the one minute i see a bunch of funny stuff and i says to my self, i say “self, what is that funny stuff down there do you think” and my self says back "i dont really know but it looks like fun stuff, so i figure i gots to share it with the 2.5 people who view this junk and so i take a pix of it and then figure its time to post the sucker, and i realize that the “stuff” is the direction that the semaphores are so intensly hinting that the price will take when its good and ready to do so, and so i now know i REALLY gotta post the sucker
btw, for those who dont understand “stuff” its all those round green circle thingies down on that trend line thingie
so i did
mp
yousee the “stuff” is a bit hidden in your chart-but are ya talkin of the # 3 Dot that has materialzed at the bottom channel??
Shorted cable at market open, watched price drop, watched price start to come back up and almost got out of the trade at a gain of only 10 pips, but, patients prevailed and I got out about 8 minutes later at a gain of 58 pips… done for the day… well, until after midnight anyway… lol
Interesting how the E/U is finally starting to show signs of separation in movement from the G/U… just a thought.
Good Pippin,
Chubs
some you peeps getting too danged good methinks
nah, the stuff was the little green circles down there, which later in time became THE down move
mp
Ok some how my semaphore does not do that green circles…
well, they aint there no more, cause price already been there
when you gonna get a GOOD computer – one that shows green circles ?
mp
lol…been with the dell longer than I can remember now. seen me through many a firsts.
By the way I read a nice article by Van Tharp on position sizing today. It kind of relates your trading to your account and gives a nice metric on whether a trader is going to keep his account (and his shirt 
) in the longer run.
Stimulating study indeed.
Youse I have long explored how to know how I can protect my account from draw downs (coz I really dont put any initial s/ls at all). I will prolly start with a 5 K real (so I dont have the luxury of a very large account). Now this is how I summarize (consider my own situation and my system):
at this rate my true profit per dollar I risk (or name it whatever) is = 1*.75-2*.25 = 25 cents(if I have a 1:2 Reward/Risk)…now if I did 100 trades a month, that gives me $18.75 ~20% on my cap
IMO recommended reading for any newbie-
1tex
OK, heres one of the more impt indicators i use on my overnite trades — underrated and hardly ever talked about, once you start using it youll begin wondering whats wrong with the rest of the world ?
ever wonder where to place your tp when your s+r indicator doesnt show any more upside ? Well gander over to the bols and see where IT POINTS.
now i dont use the bols much intraday, EXCEPT to watch and see if its moving towards my resistance point, which verifies my correct choice, BUT using it as a FINAL PRICE, on an overnite or H1 - H4 trade, starts to become the cats meow - - - - -
as always, throw it on your charts (btw – the middle line is a 20 ma as well as an indicator – two for the price of one !) and see if it makes sense to you. I love it for FINAL prices, so lets see if you do also !
now when i say FINAL, i mean the LAST move on any timeframe before a retracement from resistance down to support (reverse for short position naturally) and for those who dont understand what i mean, yell loud and i might hear and explain more.
enjoy and trade well
mp
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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 !!
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Bands.zip (904 Bytes)
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Thanks MP,
One quick questions, are these any different than the standard bands that come with MT4?
LOL – probably not, but im so used to peeps asking “where can i find it” that i always just send it along for fun
oh well
mp
while the “semaphore” has some problems which i have to work out, always notice that when it leaves a solid little brown dot, then reverses, IT WILL COME BACK and run to resistance (or support, if that the direction)
check yourselves — especially when trending, one can use it to scalp, closing the trade as you see the dot appear and opening another when it “dots” a bottom !
while the little dots seem very well behaved, someone needs to spank that big old number 3 and teach it some manners !
mp
