Mp -- Some Of My Non-secret Secrets

Beginner Questions
144

[B]A GENTLEMAN NEVER TELLS !!![/B]

anyway, i dont work in pips but rather money, but this is your lucky day, as I only got to trade the morning and then was out till almost the end of the day.

at the moment i have collected 342 pips, with more to come in by EOD.

but remember, this is an unusual day as i was out tripping the light fantastics in the duesenberg with the McGivers who insisted on lunch at a quiet little hideaway 50 miles down the road, taking me away from a LOT of trading !

essentially, i play every timeframe, and a few yet to be invented, otherwise the blood begins to congeal and i get kinda sluggish, like dirty old oil !

enjoy and trade well

mp

145

Even I am showing 394+ pips so far today (5 trades), but today was unusual because this is much higher than normal (for me). Anyway, do you have a rough ballpark of account % you win per day then :slight_smile:

To be frank, would it be unrealistic to expect 1000 pips/month for a decent trader?

146

Noo EST is Boston Standard Time :slight_smile:

147

while i will unfailingly endorse texas as having some stunning women to boast about, the men tend to have them selves wrapped around so many “long necked buds” that their intelligence has to be called into question - - - - -

EVERYONE knows that BOSTON time was changed by presidential order back in the 80’s to BBT – or “baked bean time”

mp

148

[B]REPEATED YET AGAIN FOR THOSE IN LEFT FIELD WHO WATCHED THE CHEERLEADERS AND NOT THE GAME ![/B]

ANSWERED IN ANOTHER THREAD, BUT MAY AS WELL PUT IT HERE !!!

[B]HOW TO TRADE THE NEWS, THE RIGHT WAY ![/B]

ahhhhhh grasshopper — you are beginning to use your eyes for more than hanging piercings from !

while compound news releases tend to create some foolishness, you should note that (if you live in the USA) ALL the night before, the markets are either RAISING or LOWERING the price to prepare for the DIRECTION they will MOVE IT when the news is released.

if the news is thought to be bad (and remember the banks have enormous RESEARCH facilities (and perhaps spies working at the fed also) and they KNOW what the results will be so they can easily anticipate where to move the market in preparationl.

when the news is released, the market continues in the direction of the overnite and the most recent trading until it reaches resistance (usually 30 - 45 mins, depending on when released) on what is USUALLY the H1 and then REVERSES to go in the direction ORIGINALLY intended by the banks.

if BAD news, the banks RAISE the price to resistance to get the price as HIGH as possible so the SHORT SIDE TRADES that are coming will start at the highest point they can get the price !

THAT is essentially the whole enchilada with trading the news — go with the FIRST reaction and get out at resistance and then REVERSE your trade and go with that for the REST of the day !

just OPEN them ORBS and take a good look and bank your profit well !

mp

ahhhhhh grasshopper — you are beginning to use your eyes for more than hanging piercings from !

while compound news releases tend to create some foolishness, you should note that (if you live in the USA) ALL the night before, the markets are either RAISING or LOWERING the price to prepare for the DIRECTION they will MOVE IT when the news is released.

if the news is thought to be bad (and remember the banks have enormous RESEARCH facilities (and perhaps spies working at the fed also) and they KNOW what the results will be so they can easily anticipate where to move the market in preparationl.

when the news is released, the market continues in the direction of the overnite and the most recent trading until it reaches resistance on what is USUALLY the H1 and then REVERSES to go in the direction ORIGINALLY intended by the banks.

if BAD news, the banks RAISE the price to resistance to get the price as HIGH as possible so the SHORT SIDE TRADES that are coming will start at the highest point they can get the price !

THAT is essentially the whole enchilada with trading the news — go with the FIRST reaction and get out at resistance and then REVERSE your trade and go with that for the REST of the day !

just OPEN them ORBS and take a good look and bank your profit 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]

149

the genius of the ubiquitous bobblehead but me redneck was just bantering–used to think the the standard times are decided by longitudes and not by being in new york (or boston??)

we in the south do tend to be a bit ummm challenged and in our long neck induced doze we routinely twist of grumpy, shriveled “things” :slight_smile:

150

here’s the quote I was talking about…

[I]“I have to agree with your “default” statement, but I have also made this work on very small accounts for others in trouble — Margin INCREASES if you pick the correct direction of your trades, and you can literally “overmargin” by holding a winning position — you MUST watch it like a hawk does her young, but with EXPERIENCE (that word again !) you can actually save a completely losing situation although it will be nicer if the gods are with you during that time !”[/I]

151

OK, thats a pretty simple one ----

if youre long, let us say, and the direction of the present move is long, your margin USED decreases as the trade becomes more and more favorable.

this can be used in and by itself OR you can then use that increased margin to offset a losing trade, as your equity increased and decreased your margin accordingly.

it was part of a method of offsetting a bad trade, and using the winning trade to decrease your margin requirements, allowing you more breathing room before a dreaded “margin call”

its just a mathematical situation, and im sure you will see it on any trade you do that is working correctly, just that i take advantage of how it works to support a losing trade that would create a bad margin situation.

it is even better to double or triple your present winning trade (being careful to observe time of day and normal reversals) which will then decrease your margin requirements tremendously.

enjoy and trade well

mp

152

light bulb ( I think )

I misunderstood your original statement. You’re referring to the counter-trade temporarily and naturally reversing, which at some point is inevitable and will possibly have you sitting on two losing trades simultaneously.

And… even worse, if your original trade doesn’t behave inversely immediately or at all, the balance created with the counter trade gets thrown off…

Am I picking up what you’re putting down?

Thanks so much.

153

Hello everyone, MP. This is my first post on babypips, although I’ve been lurking for some time. My reason for this post is twofold, and not earth shattering on either.

First, thank you MP, your advice has made me quite a bit more play money than I was making before I found this thread.

Second, it’s been 2 days since the last time I saw a post here and I’m panicking that this thread will die. Please keep the wisdom coming! I aspire to greatness but my map has holes in it!

Also, could I get your opinion on Goji’s system in the day trading section?

Thanks again.

154

I was reading some of TRO’s threads…Seems to have been banned. But why?

Anyways- he looks to be trading at horizontal ines how does e do it- never heard of it before- does he do it based on the shape of the candles???

155

I think his scalping system is based of the high and low of the past 21 candles on the 5m chart. He uses these, along with some other rules to get into the trade. Honestly, if you are interested his thread has a lot of information, and you would be wise to read through it.

As for being banned, I am not really sure, but it may have to do with him “giving” some indicators to those that have donated a small amount to him.

156

first off, the thread isnt dieing that i know of – just that i wander around and butt in all over the place, and since ive said mostly what i want to say on this one, ill let people finally wander over and find out its here !

TRO is using horizontal lines representing the opening price of the market, and if above one goes long and if below, one goes short. Its actually the same thing as my “previous close” lines (i also use previous high and previous low as the currency usually makes a move for them at some time during the day).

with the “previous close” or “open” one waits a bit and then sees where the price is heading — that will usually be its direction until noon, est unless news rears its ugly head and plays havoc with my well thought out ideas !

i dont know goji’s system, but ill take a look at it !

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]

157

Yeah Yeah, take it easy M.

I found what he is upto-- He looks for a candle to cross the high of the proceeding,and if the third one falls below second but does not pierces the 1st ones low then he will buy it. Hmm, nothing spectacular–I think influenced by fib levels.

I am a newbie–my curiosity is very very strong :slight_smile: I do like the system, but I personally think, I nned to figure out what kind of outcome ithas with combining with the LRC, and EMA.

158

having found the fibs to be pushed to the side what with the influx of all these equities traders into forex, my use of s+r has been VERY reinforced.

try this along with a stoch at either 6/3/3 or 8/3/3 and some people throw in a macd for the right side of the trade, but i think thats too slow for scalps.

moving average crossover of the EMA 2 and SMA 5 based on “close”

usually you will find the xover ma’s DONT fake — they will approach each other as if TO CROSS during a scalp as the price goes up and down, but they usually remain true to the stochastics, and all of a sudden you find them going in the right direction again

use the LRC and s+r to locate yourself and you should be able to figure it out !

mp

159

Hey M–what are Barry’s s+r???

:confused:

160

“barrys support and resistance”

google for it and you shall find it all over the place

TRO made an adaptation that uses fibs that can be turned off and all that remains is s+r, but barrys is just fine

mp

161

will do. thanks.

162

MP,

My charts are getting a bit cluttered. Do you use these ma’s and stoch only for scalping, or do you also use them on the 1 hr chart?

Thanks.

163

I love this thread.

Thank you MP for posting your non secret secrets. This thread will add nicely to my collection of read materials.