I ran into the same problem. I would be watching the USD/CHF for a peak and then realized that something happened on the GBP/USD that I missed, and so on.
So I figured to learn something by focusing on only one currency. So I now have 6 charts on my platform, all different time frames of the EUR/USD. I have found it a much easier (and successful) method of learning.
Hey Pukey…you still around?
I had a look at the code for the SHI Channel and it looks like the M5 problem is due to a dodgy setting for the BFF variable.
It can be easily altered by opening MetaEditor, loading up the code for the SHI Channel and changing this part of the code:
switch (Period())
{
case 1: BFF = 12; break;
case 5: BFF = 48; break;
case 15: BFF = 24; break;
It’s the number 48 that is causing the fat channels. I have found that changing it to 24 (same setting as the M15 timeframe) works like a charm.
…and don’t forget to hit the compile button when you’re done
If you are squeamish about fiddling with code, just do it on the chart by changing the BarsForFract input to something like…umm…24. Just note that doing it this will change the setting for ALL timeframes on that chart…not just the M5 !!!
Shane’s posting of his “simple” chart shows a need for simplification of the concepts laid down by mp for this “information” to go forward and become at one with the trader.
A compilation of concepts is being prepared which should reduce mp’s ideas down into a more compact form, with simplicity as its keynote.
On the use of the EMA 14, please understand that is a simple concept but came forth to prove that “any” system has to work. There are systems that will produce larger pip accumulations, but this one was just to get the readers into making profits.
There are many ma cross over “methods” and they all work believe it or not, with the only danger living in “how much of a move is there ?”. And so enter Barrys s+r and the bollinger bands to help you out. By using those, plus understanding what the indicators are saying, you can see very quickly whether a ma crossover move is a simple retrace on a main trend, or if it is to become a major retrace. One clue to what is happening is to look at the speed of the move if it happens after noon, edst . . . . . . if the move is very slow to develop, it will invariably be a LONG move as it is being “stretched” out to fill the time available until the rollover at 5PM, EDST.
If the move starts and moves quickly, it is being fitted into the 1.5 hour or possibly the 45 minute move, and will invariably only be a 23% fib move.
If one is using the LRC, then one should be aware of not buying at the TOP of its move, semaphore signal or not, as that places you in the very real danger of watching the market move away from you in rapid order. If one likes to ride the edge of disaster, at least know where your higher timeframe trends are and if they are in agreement with the direction of your trade, you are offered much support, although you must remember that an H4 trade can often take a day or two to work through.
mp’s thoughts on that are simple, but require experience . . . . . if you are wrong, but are “with” the higher timeframe trends, simply open a counter trend trade which will now be going in the “correct” direction. This will do two things . . . . . immediately it will “nullify” your margin increase on the “losing side” and nullify any loss of equity. As Dale pointed out to me, which i do automatically when trading, if the trade will take a day or more, simply “double” your counter trade vs the “loser” which now increases your available margin and provides a profit until the “loser” comes back to your tp point on the higher timeframes.
Essentially what this does is take a short term trade that was missed for whatever reason, and convert it into a swing trade, AS LONG AS THE HIGHER TIMEFRAME TREND IS MOVING IN THE SAME DIRECTION.
The concept is simple, and it is simply a form of defensive trading that is practiced by all money managers who can think it through, and not run to the government for money.
It works extremely well, but is also not for the faint of heart and definitely not for those without the experience and money management skills to work it well.
Far better is not to buy at the top of the LRC — that should save a tremendous amount of stress for most.
As mp has so often stated, watch and learn for yourself and when confident it works, use it.
Where is the poll at now? I didnt even see it.
So decided to come outta the woodwork and start posting to show my support for mp and try learn from this thread! I have been following the thread since last week and trying to play catch up - man allot of pages to get thru!
So I loaded the indicators listed here on to mt4 and been playing around with them this morning. One question: when looking at the shi-true which time frame is best?? Also how does one interpret barry??
Hillel - thanks for the valuable tips!
Thanks guys and hope to be posting more often 
Angela
Hey Hillel,
With the double counter trade…When would you exit?
Would you exit half of it at the expected counter trend peak and leave the second half to drop back to exit at breakeven - and then wait for price to continue and exit the initial “day old or more” trade at your target?
Cheers.
PS…Although I have been successful since adopting SOME of mp’s ways, it should be stated that I am just as new to them as anyone else who has been following this thread. I really want to try and give something back, but I also do not want to give rise to any confusion.
Please let me know if anyone feels there are errors or ambiguity in anything that I post.
Shane
“If any man can show me that I do not think or act aright, gladly will I change; for I search after truth, by which man never yet was harmed. But he is harmed who abideth on still in his deception and ignorance”. Marcus Aurelius Antoninus
The simplicity of your charts is a joy . . . . . . .
Understand that mp is a forex geek and what he sees as “simple” oftimes is confusing to most others, perhaps due to communication problems or the simple fact that those using these indicators are not yet past a certain degree of “newness”.
Thus his desire to “simplify” so as to reach the greatest number of new traders.
Interesting that the “poll” has gone to the same home as mp and TRO . . . . . .
I have never trusted the word of a King . . . . . . . as they need support at all times, and we know who supports him !
Not that disclosure has any effect, but knowing the truth allows one to laugh at the outright distortions and lies that a governing body releases.
Sorry to sort of go off on a tangent, but could someone please define the term “price action”. I know what price is and what action is, but I get the impression that the total expression is more than the sum of it’s 2 parts. It is refered to regularly, but I have never seen anyone define it or how it determines trgger points such as entries, exits, limits and stops. Sorry for being a dufus, but there may be other dufi who can also use some help with this piece of the foundation.
Ah, Hillel, I see once again our time was cut short.
I patiently await the phoenix.
Sincerely,
Oc
No disrespect intended to the thread, or any of its participants, but I would like to ask a favor.
The man who created this thread is no longer a part of this site.
Those of us who know, new, have learned from, have shared with, and have a current connection to MP6140, from what I’ve seen, are tending away from posting here, not to discredit its value, but to continue the cause. The cause being, to share information, to share and educate each other as traders and to form lasting friendships with birds of a feather. I personally am no sheep and fear “herd mentality”.
So, to do justice to the teachings on this thread, would you kindly consider it as a closed work, or wonderful point of learning and reference to anyone wanting to get ahead of the game atleast at a demo level. or a struggling investor looking to “see” what it’s really all about and decide to create their own envronment, and perhaps find a new thread to chatter on?
Just a request.
Thanks to all, may you find your zen in the market, and your personal zen.
Good pippin,
Chubs
I agree with your request Chubs. I will close down the thread to maintain the integrity of MP’s original work. If anyone wishes to discuss his methods, please start a new thread. Thanks.