That is quite all right! Babypips is big enough for us both 
Thank you very much for your input MP.
Reading and trying to understand the concepts in your thread is on my to do list, and it has been for a while.
Unfortunately, we may enrich ourselves, but time we can not buy. This is a shame, because I could certainly use more than 24H in a day 
Again, thank you for the input, you challenge me to think.
Best regards
Hi MH
Indicators are not for me (at the moment) which is why I like Ken Leeâs thread. It was from there that I found my style of trading.
And it was one of your posts that put me on to the Nick B method. That method has completely reversed my opinion of candlesticks.
As for the Linear Regression, MP6140 claims in his very first post on his thread that the LRC is a âquoteâ âdirty little secret of forex and one the Banks never wanted you to know aboutâ âunquoteâ so maybe you shouldnât give up on that one just yet (though I have).
Yes, I got a tremendous amount out of your thread, especially avoiding the complexities and returning to the simple way of trading. I could never do what you were doing. I am not that technically minded so as I said before it was a relief to see you change from that.
Aside from trading I notice you come from Southern Sweden. I spent many months in Copenhagen and to my eternal shame I never went those extra few miles to Malmo.
On my first trip to CPH, as we were flying over the bay I saw that magnificent bridge and when it disappeared in to the sea I thought I was having hallucinations.
One of the most amazing sights I have ever seen in my life.
hey carraroe
the reason behind my love of the LRC is because (while it can and IS used as a standalone system on its own) it provides an immediate, visual and accurate view of where and what a price is doing at any moment in time and on any timeframe, and THAT alone is worth the price of admission !
there are many ways to dress your mistress, and my way is only one â for âpuristsâ, naked charts work well, although i find that by the time a candle forms and confirms, the move could well be half way done â something the indicators dont fall prey to.
last nite i put up a chart for some âprice actionâ peeps, showing a bearish engulfing candle â quite literally, by the time one could identify the candle, half the pips were already off the table, so thats MY particular reason for using indicators.
but many and varied are the ways of trading, and many are the ways to get to the pot of gold â i hold NO patent on the ONLY way but simply try to teach to SEE what is happening in the market, which appears to be working nicely with a few new traders.
[B]for RESEARCH, not using the LRC is silly[/B] â [B]for trading, any method that works is just fin[/B]e, but again â for RESEARCH and plotting where prices can be EXPECTED to go, little out there beats the[B] combo of LRC and S+R used together ![/B] [B]Throw in some FRACTUALS[/B], and the world begins to become your oyster !
enjoy and trade well
mp
Good thread and good discussion but âmikeys militiaâ is eagerly waiting for the revealing of the fractuals as you call em over on your own eye opening, insomnia inducing, seeing is believing, poke a stick in the eye of the au naturel price action trader, thread!!!
Hi MP
Would it not be easier and more efficient to monitor the movements of candlesticks from a 1 min or 5 min chart rather than a lagging indicator??
Hi MP
I totally agree with your comment â for research, not using the LRC is sillyâ.
However my main reason for discarding it, as mentioned in a previous post to MH, was I already had numerous lines on my chart (s=r, fibs) and adding LRC to it made it so congested I couldnât see âthe wood for the treesâ.
Maybe I should have discarded the Fibs instead.
NO â simply have a set of âtradingâ charts and a set of âresearchâ charts.
what i find applies to trading is rarely what i need for research and vice versa, so the clutter becomes tremendously reduced. One only needs to see the LRC once to see where its points lay on the longer term charts â no need to stare at it every moment while trading !
but for me, to give a lie to the above statement, i have a trading chart for each of the timeframes i wish to trade, AND a research chart next to the group â additionally, on two of the monitors I keep my quotetracker charts (a combo of trading AND research plus the H4, a 20 day trend chart, a DAILY chart and 5 intraday charts including âtickâ and ârangeâ charts) which can be brought up from under my other trading platforms â overkill for some, but i trade 3 accounts BUT make it easier on myself by trading only one currency at a time !
Probably overkill for most, and probably overkill for me also, but its how i adopted things to fit MY style ---- you will develop one along the way that befits YOU, and no one will be able to envision just what it will be !
fibs are still important, although tremendously less so in this current market with so many âequitiesâ peeps entering each day â they use s+r for stock trading, and if one looks, most especially on the "under H1) timeframes, you will see the prices hit s+r, but NOT the fibs unless the fib falls where the s+r is. the LONGER term charts, as pointed out by Tess, can be a different story entirely as fibs still seem to hold strength there, probably because the REAL shakers and movers still continue to use them for OVERALL performance criteria !
there be a lot of ways to get from point A to point B â mine are just one of the ways, but since it puts bread on the table I tend to stick with what I understand and know â others stick with their ideas. If money is being made, the method is correct, no matter if its chicken bones and a ouji board.
it is nice to look at other ways of doing things â its what assisted man moving from the age of stone to the age of stone heads, but the search for newer and possibly better ways of doing things is within all of us and âstagnationâ is one of those things best passed quickly in the night.
you will know FAR more in a year than you know now, even laugh at some of your dearly held concepts, and along the way you will meet NEW methods, concepts, systems and strengths.
Use them well
mp
To pick up on that last line: different strokes for different folks.
Everybody here come from their own unique background and bring with them their own personal skill sets.
Some are probably born with better gifts to be traders than others.
As a beginner in this, like in all other things, itâs easy to be influenced by this one day, and the very next day some other prophet catches your attention with his/her teachings
Itâs fine for a while, but then you have to start thinking for yourself.
Iâm trying to do that and sometimes itâs hard. Thereâs always a constant chatter that you easily get caught in and there goes the focus again.
I value posts by Tess & co highly and there are others that I also follow with keen interest, such as Ken Lee and MP.
But in the end, Iâm not a institutional trader, which I understand Tess, JimmyMac and Jocelyn to be, nor am I experienced like MP and Ken Lee.
What that means is, that in the end, Iâm all alone and itâs up to just me, thatâs right - just me - if Iâm going to make it or not.
Thatâs one reason why reading a good old book on trading is a great idea - itâs a good way to make knowledge your own. And you know a bit more about the authors background and qualifications. This also makes it easier to understand if the information is something that will fit into your own trading, or if itâs something that wonât be useful unless you have access to say a live (zero delay) tick feed or what have you.
I think thatâs another, and a pretty deadly one at that, mistake thatâs typical of beginners. Itâs so comfy to follow someone who knows their way around the Forex place.
What Iâm trying to say is simply: donât follow in someone elseâs footsteps, learn to read the map yourself or youâll be lost if your guide should desert you. That guide could be an EA or some signal service or some guy convincing you that his holy grail is just sooo good.
I personally try to follow the threads Iâve found to be the best for me, but I donât automatically swallow everything. I go away and test and think for myself and ponder over if this valuable info will be as useful to me as to the one who wrote on it.
For instance, I came across the Slingshot 30min strategy (thereâs a thread here somewhere about it) and looked at it. It absolutely has some simple and interesting ideas, but⌠I came to the conclusion that it performs less well than what Iâm currently looking at and so, itâs placed on the dusty shelf of increased experience.
Study hard with an open and a critical mind and youâll be in a better position than most of your fellow beginners.
In Sweden the state has a monopoly on gambling and I remember one of their commercials where a guy stalks football (soccer) players and checks all kinds of strange stuff. Final text is: Whoever knows the most, wins the most.
I agree.
EXCELLENT post o99016 (golly, sounds like im posting to a robot)
the bottom line is ANY good system that works is a GOOD system, and it takes a while to move from âentrantâ to âdecentâ
what i desperately seek to teach is NOT a âmethodâ as much as a manner of SEEING how the market moves and develops so that once the skill set is fully learned, âpredictingâ (with great accuracy) becomes second nature.
as an example, we are now in a retrace from a high of the day, its 12 noon EST and the currency is dropping â the indicators show 75% of drop âroomâ left if the move continues, and with a rapid âhold the pencil up and measure the room left to moveâ we see the previous days high at just âaboutâ that point. checking fibs and s+r, we see agreement, and for kicks, the 50 sits there also with a smile on its face.
Do we set our first tp at that point â you BET your bippie we do, since everything in the world is telling us thats where its going !
all i want is for those who will understand to have this type of tool in their âbatman utility beltâ to be able to draw on when they see a âbearish engulfingâ or the accumulation/distribution levels going DOWn !
what you use to tell you of the reversal are many and varied, and one should try them all until you find a friendly one that snuggles up nicely with you at night â what i teach is to understand just how long that snuggle will take place !
your information and advice is spot on â its a long stretch from beginner to âcompetentâ, and MANY things will be learned and discarded along the way for those who succeed !
Its a WONDERFUL journey, and the pot of gold at the end aint so bad either !
enjoy and trade well
mp
You don�t have to be.
But there�s nothing wrong in mirroring one or two of their observational practices if you can pick up on them on your travels & calibrating them to suit your own tastes!
These are the players who are instrumental in influencing the majority of the (smart) price action activity out there.
Don�t underestimate the simplicity of some of the practices they adopt.
The only folks making a consistent living out of flogging mechanical systems & indicators are the vendors of such merchandise.
Don�t fall into the trap which most novices plunge headlong into
There�s no pot of gold at the end of that rainbow.
Thank you very much Tess, your graphs and wisdom have been very helpful.
Absolutely. I was merely referring to the fact that my circumstances are different in terms of possibility to be at the screen during London sessions, and other such things.
I certainly agree that I can utilize the same methods as full time traders, and I seek to do so.
Thank you for posting those chart posts - very interesting. I havenât quite been able to accept fibs myself yet, but maybe Iâll get there. It obviously works if used well, I just donât care for them. Maybe itâs my scientific side thatâs having a hard time with the âfuzzinessâ of why it works.
Best regards
Currently backtesting my in progress trading method. Manually of course.
Man, it takes a long time.
On another note, itâs good to see tymen back here.
Iâd like to warn people, beginners especially, about putting to much faith in the words of self proclaimed experts. They exist everywhere, also on babypips, and have hundreds of posts and seem to know all there is to know.
But how do we know what hides behind that user name?
We donât. Only common sense can tell you who to listen to and who to ignore.
SURE CAN AGREE WITH THAT BY GOLLY !
but one question â if they truly seem to know what is to know, by definition then they really DO know so do you really think theres another agenda in there or are they simply sharing the things they know (or believe they know ?)
just curious, of course
mp
Good observation.
The problem is of course to figure out who owns true knowledge, and whoâs only smoke and mirrors. And then there are those that [I]think[/I] they got it all nailed down - a third kind with good intentions but not so good skills.
The less oneself knows, the harder the task of figuring out who is what becomes.
see, it gets tremendously confusing, even though well explained.
I know of a person who posts and doesnt appear to have an agenda â doesnt appear to have anything to sell and even admits he does not even have what others would call a real âsystemâ ---- seems sorta a âcatch a trade when you see a trade fly byâ kinda person.
now he claims to make a minimum of 340 pips per day (full lots at that) and does it on two accounts (for a total of 680 pips, i imagine) â how could i ascertain his veracity in this matter, and IF what he claims (outrageous, i know) is true, should i then trust this person, since he asks nothing of me but to learn how he trades ?
Im a tad skitterish, even though i have NOTHING to lose, but i dont want to get involved with one of the NEGATIVE âexpertsâ you speak of !
thanks much
mp
OH TESS - - - - - -
Im really SO SAD that you honestly feel that way, I really am !
one can go forth in this world with one of two attitudes â the glass is half full or the glass is half empty . . . . . . . . . My glass (and life) is like the cornecopia ---- ALWAYS filling !
Forex is one of the most wonderful trading vehicles ever put forth to the retail trader and when someone âunderstandsâ how it works, I almost cry for joy ---- that moment, when the light goes off and you can say âeurekaâ, or at least âahaa !â is one of THOSE moments in life that Kodak used to talk about.
Tess, your experience and knowledge is grand and truthful, but to hear âNo pot of goldâ is to rub your chalk on my blackboard ---- it sets my teeth on edge and vibrates throughout my frontal lobes !
with EXPERIENCE born of learning and time, you have a family that can do whatever can be achieved â in forex, like doctors, poets, philosophers and indian chiefs there is a BOTTOM 10%, a TOP 10% and then a whole danged bunch in the middle â and the middle does just fine thank you !
Certainly not to start a squabble, but it just saddens me to see people bring forth ANY negativity around newbs â those who make it WILL, and those others will wash out, like a high school football team, a job applicant and a slew of other analogies, but until the day they realize âthis aint for meâ, WE owe it to them to provide EVERY form of help possible. What they do with that help is THEIR business, but to make the landscape look good, after the PROPER WARNINGS about learning, experience and psychology, is NOT a bad thing !
I could not face myself with any other attitude !
Hugs and Peace
mp
As long as youâre aware that bad fish swim in the forex sea, thereâs no real danger to you.
The worst you could lose is some hours of your life I guess.
Youâve been around long enough to know better than to give out your credit card numbers, right?
And from what i gather, youâll be quite able to determine the viability of what is taught to you.
Congratulations btw on becoming a Honorary FX man.
End note: it wouldnât be you, thatâs that guy with all the pippies, would it?