mp, why didn’t you just come right out and tell me that I should have just followed my usual reluctance of adding indicators to my chart setup and left the darn starc bands off? LOL
Anyway, your opinion and point are well taken.
look highpockets,
what i try to teach is how to SEE the market as a coherent “whole” as i truly believe once one can do that, the rest simply falls into place — it takes a while to get to that “zen” position but i also fully believe that anyone of normal intelligence WHO WANTS TO can easily master that simple situation.
the tools i provide have come from MANY years of experimenting, and is never ending — i hold NO patent on KNOWLEDGE !
and while i disagree completely with “price action” ONLY, i also admit freely that the candles alone will tell you what is happening, but since that is part art and part science, it is often MORE than most can handle. I have also found that price action will give you ONE clue, but it cant give you clues to whats COMING up later one, like 2 minutes down the road !
so ive taken everything i know, condensed it down to a meager few things that TELL you what to expect, and then left it to others to use WHATEVER trading methods and timeframes they enjoy.
the STARC bands are a perfectly acceptable method of trading, although i find them LACKING for one looking to exploit the full moves of the currency of choice, but that doesnt mean someone else may not find them warm and fuzzy !
I ALWAYS tell others to FORWARD TEST a concept, because between you, me and the roller coaster, BACKTESTING aint worth the powder to blow it to HADES, simply because it CANNOT take into consideration the many variables that exist in the market, of which “slippage” is only one !
[B]so, joking aside[/B], go and try them for YOURSELF, and then compare your results to PRICE CHANNELS, BARRY’S SUPPORT AND RESISTANCE, THE LRC and the VERY few indicators i find help so much in seeing where the price is HEADING, and draw your OWN conclusions !
I can only lead the trader to KNOWLEDGE, but i cant make them partake of the meal (slightly different analogy as im tired of horses and water !) so I simply ask them to DEFINITELY experiment to add to their own knowledge as i have already long ago gone down that road, but in the true spirit of being HUMAN, one only listens to the experienced ONCE they have traveled and experienced the SAME conclusions !
while i think you may be giving up a lot using price action ONLY, it is far from me to alter how you do things ---- just that if i POUND on the desk often and long enough, some wake up and begrudgingly try MY experience on for size — sometimes the glove fits and sometimes (as in OJ’s trial) it DONT FIT, but at least i tried to share my own perceptions.
i want NOTHING more than for other traders to achieve success ---- if you “make it” there is NOTHING that will affect me in any way, but i like it when i can pass on something that works, not for pay, not for praise — simply because its nice inside when someone begins to “understand” how this silly market works — it makes my time spent worthwhile !
go forth and multiply (your equity, that is — ANYTHING else is not my business !)
[I][B]
“crusty on the outside — warm and soft on the inside”[/B][/I]
GJ – 18 trades and 321 pips since 6pm, est
THATS ENOUGH !
not even gonna set an overnite !
HOPE everyone got into the fun today, and tomorrow should be a blast !
mp
OK, I LIED
SHOOT ME !
for the overnite on EU
i like 2501 to begin with 2467 showing as a possible and 2447 taking just a wee bit longer.
GJ
134.87 strongly showing on DAILY for the longer termers and for the overnite, 137.15
NOW, thats enough for tonite
enjoy and trade well
mp
Hello,
Excellent insight
Thankyou mp6140
I’d like to try the shi channel tru tomorrow along with the LRC.
I think the lookback period or “mybars” is 240 for the shi.
The LRC length is 120.
Dyn fibs is set to 5
All TRO modified indicators.
I’m wanting to scalp using the 5m chart.
Can I use the Shi True as my Daily trend-S/R levels? 240-5m candles is 20hrs, No?
Change the LRC to about 30 to get the current scalping trend/direction.
And just leave the DynFibs set a 5 to get S/R levels for reversals/momentum breaks?
Am I way out of wack? Been at this for 2 month’s and first time to use these aids for trading.
Do I need to use another time frame?
I can only trade 2.5 hrs a day from either 7a to 9:30a central time
Or, 5:30 to 7:30pm central time.
Oh yeah, I’m on page 18 of your thread but will not be able to make it through the whole thing by morning as I’m at work. That’s why I’m asking now
Thanks.
procharged.
Ah,
After a little more reading maybe I should move up to the M15 chart minimum?
Use the M5 to exit?
What do you think of my adjusted settings?
Do I really need a third channel?
Thanks again.
Procharged.
Forums - Lost half of my years salary in a week!
for those blown away by the parkeboy and for those who cant get enough of his dribble…well there is another 65 page thread dedicated to the brother of vernon and the son of bobby howell the sparkle of jones…
a quote from mp, "What you need to believe in is what you can see…If you see me as your friend, I’ll be your friend. As you see me as your father, I’ll be your father, for those of you that don’t have a father…If you see me as your savior, I’ll be your savior. If you see me as your God, I’ll be your God."
i believe his gates are wide open for disciples at the forex fools temple…for all cult followers
for those who cant get enough…i just know you cant…try googling
"'trading with mp6140�worst thing I ever did":eek:
what is it about trees and a forest…ask yourself this questioning…how many pips are you really making
Mr. Left Brained Emissary of the PA Peeps,
I read that thread a long time ago, in fact even before i started posting here at BP. It was one of the threads that convinced me that MP new what he was talking about. In the face of the lynch mob mentality I thought MP handled himself with class constantly repeating himself to the deaf ears of those who would tear him apart. I for one would have just given up about 3 pages in trying to explain what happened and def would not have handled the situation with the good humor and patience that he did. From what I understand the OP who had access to the account on his end as well never explained how or who meddled with the account that lost his money. Point being after reading that thread I have no problem taking MP at his word as to what really went on. Let me also say that I am grateful that MP decided to stick his neck out again and offer to help us newbs, I don’t think I could do that after enduring the wretched interchange that went on over there.
Thanks for your wonderful input to this thread by the way! I never would’ve figured that flamboyancy and the ability to really trade would bring out such vitrol in you peeps. I have and idea! Why don’t you take the time and energy it takes to denigrate and flame other people and spend it reconfiguring your words and sentences in an effort to [B]help[/B] this forum full of neotraders. We would appreciate it, or at the very least if you don’t have something nice to say keep your fingers still.
Once again thank you for your excellent contribution to this thread! Very Helpful Indeed. Didn’t bother to watch it as I’m sure it would just be a waste of time. Disciples…Cult…LOL you guys are unbelievable.
argh cmon your right brain will like it…between your ears is that what your signature is referring to.:eek:
And again…
YES, you need the third channel, and if you werent such a 0-250mph dragster, you could slow down a bit and see why.
LOL
its all part of another form of working with the LRC (SHI) that may or may not apply to youre form of trading, but VERY useful as a take profit point.
using that line is back there a big bunch in the post – someday i can do spring cleaning and create some kind of logic (me, right brained ?) to it !
enjoy and trade well
mp
AND NOW THE WITCH TRIALS BEGIN
FIRST, i hope the overnites have been as good for you as for me – the week starts nicely, which (in inverse logic) should worry me for the rest of it ! HOPE you all profited my friends !
many a year ago i was involved in what turned out to be an unfortunate error. HOW and WHY that error has NEVER been fully explained, but it cost a young man a serious amount of money, and cost me my solidly established reputation at that time.
years later, with still no explanation, I am older, wiser and more experienced — my children want NO part of the work, and with open heart surgery just a short time down the road, i simply pass on my education to others.
Cranky and fussy and certainly a Curmudgeon, I am attacked by a special interest group that simply cannot stand any part of me – be it how i trade, how much i make, or the color of my left big toe, BUT they sure hooked onto this blast from the past !
the history — someone spent a number of days asking me to trade their account for them — after prodding, i agreed and we BOTH had the password. I traded in my normal manner (slightly more riskier than what i advise ANYONE DO) as the account had to be kept in “margin balance” constantly.
Needless to say (which is why i tell all newbs to NOT FOLLOW what i say but tuck it away for years from now) AN UNEXPLAINED TRANSACTION WAS MADE, the account went solidly out of balance, and the resultant margin call almost destroyed the account.
BEFORE everyone yells and screams about risk/reward and percentage of equity used to trade, understand that the account was returning very nice returns ---- SOMETHING happened, never explained by FXXD or the owner of the account, but a trade WAS MADE and i did not make it, my ferret did not make it and no traders here could have made it, BUT IT WAS MADE, and it took down the house !
THAT was years ago, but whenever its brought up by one of those who HATE me for what i DO know and teach, it only gets worse.
I’ve done nothing on this site but help – some verbal sparring with the “rival” gang (didnt know i stepped on their turf !) and been warned about being banned twice if i remember — this should begin to get bloody in short order and we can all see where its heading, so
[B]ENJOY AND TRADE WELL
[/B]
Pretty funny music video with a creative lead in Skit.
Hey MP, I know not everything is as it seems and thats ok. Back a few months ago when I first joined this thread I read about the incident, honestly sucks for that guy but he also decided to close some trades on the account. I can tell you what keeps me coming back to you/your thread is the fact that, as so far as I can tell, you have no ulterior motive or anything to gain. If you look at some of the other posters with big threads they have something to gain, whether it being and IB, or it being “donations” for indicators. If people are looking for a system, I do not think this thread is for them. To me its about seeing the market and trying to use some tools to see where things are going. There are some things I have picked up, there are others that I am failing at miserably, but at the end of the day, I get a bit of entertainment and knowledge rolled into one.
Actually quite the opposite…Made some stupid head mistakes and now its back to square one. I am not sure where my trading will take me, but maybe I need to go to more of a mechanical system until I can see the path…
and i spout DRIVEL ?
what is this junk all about ?
cant be proven performance can it — i made my overnite ideas in print, and it came to pass, just as my 340 pips came to pass in 3.5 hours yesterday ---- where do i lead people ASTRAY ?
i guess when i step on toes, i have to be ready for the anger — well, no one can take my performance away, and thats whats important to ME, and has been picked up by a few people who are beginning to finally SEE how the markets work, and THATS all i care about.
so let the slings and arrows and tar and feathers flow ---- I live secure with what i have taught, what price projections i have given (and they are obviously PROVEN) and let the CHAOS and mob rule begin !
enjoy and trade well
mp
SEEING is of course the intent, but using the LRC as its own “system” returns some remarkable trades also.
and i GIVE away the overnites, which were good for an easy 140 pips last nite, and still moving down to my second resistance point, although i would be careful now, what with the intraday reversals soon to begin, although this should go to noon, est in its present direction, but no promises once my original thoughts on the H4 have played out, cause now im scalping and could NEVER publish those moves until well after the fact.
there are a number of things that can help you, and if you wish to yahoo or PM me, i shall try to point you in a good direction for YOUR needs.
mp
actually it was entertaining, what with its message of “KEEP YOUR CHIN UP !”
but for all serious discussion trav, i am NOT TRO but only myself, who has shot holes through some VERY accepted beliefs held here by the power elite — admit the truth, at least to yourself, and let the world get on with its rotating !
mp