the key to the mint

well guys glad everyone picked up some cash today i now have to take some of it and take the wife out to breakfast. boy you feed them once and they make it a habit geesh! see you tonight i think tomorrow is nfp day so things might be a little @#$%^

they are all in previous pages. some indicators, some posts and also a picture of the chart

Can anyone tell me how to superimpose the rsi 13 window on the stochs di window? I'm using the ibfx trader 4 platform.

You just left click, hold and drag it on top of the Stoch window. Then you set the parameters.

anything similer for the UK???

Not that I know of, I googled things like "email to sms" or "email to text message" to find teleflip. I also believe that you can get a free smtp server and setup the default MT4 alerts to get you a text message but that seemed too complicated to me. harold talks about it somewhere on this thread.

thats what i did too :-) but no luck ..

i'm sure i'll find something and will post it here..

cheers

Harold and team, what are the best pairs for this system? I am going to hard code it in my EA !!!

cheers

LONG:

EURGBP

SHORT:

GBPJPY
AUDJPY
GBPUSD
USDJPY
GBPCHF

I use alpari and their candle for the day has been closed. they are on EST (EU time) which is +1GMT.

correct???

The EA did not work, I tried to load it, but kept getting errors.

whats the error msg? I'll be posting a new version with auto daily trend and other little fixes .. so hang around for a day or so ..

About something could not be loaded...

I am being vauge yes.. but I had it loaded on my work computer... I will download it and it it to here.

I was wonder if we could the alert indicator to work with this as well... the alert indicator is alerting on a cross, though it should be alerting on the cross in the direction of the trend rather than on every cross.

I just figured out that I can put [email protected] into mikep's indicator and get text message alerts just fine. I do not need teleflip. My phone service provider is verizon. If you can find out what email address to use for your provider I bet you can do something similar.

Also, the standard pairs traded on this thread are:gbpusd, gbpjpy, eurjpy, gbpchf, eurcad, and cadjpy.

hi folks here are the pairs i trade and tomorrows signals also eurcad long cadjpy,eurjpy,gbpjpy,gbpchf,and gbpusd are all short the gbpchf,gbpjpy and gbpusd are very oversold. i would like to share a few observations i have made over the last 8 yrs of trading firstly on every forum i looked at with all the various methods it always started out with author sharing his method and either someone else or even the author was trying to improve it via getting more pips, more indicators less indicators etc etc etc till the thread died. i call this discease holy grailitis. it stems from the 2 things that move the market which is fear and greed. the only time a method should be improved is if it doesnt win at least 60% of the time. have you ever asked yourself the question why are there so many trading books and seminars given by these great traders and yet they dont trade anymore??? well it seems to me that either they made a ton of money and they stopped so they can help others while now making money off the people they sell there books to or there means of money managment was flawed. people come and go on threse threads and say where is your stop why is your target there and give these text book answers like buy low sell high or keep loses low and let profits run etc etc etc.these books and teaching are all based on long term trading and trying to use them in daytrading well in my opinion they are not consistent. get this into the brain we are daytraders!!!!! we are looking for small flucuations in the market and thats it. now trendlines,fibs,pivotpoints,elliot waves, 123's pinbars,charts patterns and indicators if used proberly etc etc etc all have 1 thing in common they are sometimes subjective and they do have success. you see it isnt about improving what already has a 60%+ win to loss ratio it is maximizing that. let me explain: if some one said they have a method that would give you 400 pips a month 95% of the time would you sign up for it? the answer is obviously yes. if you found a mutual fund that consistently gave 15% profits a year would you get it and tell the broker you want to improve it so it can give you 30%? that would be foolish and prideful. i am not the smartest trader dont claim to be but those that are smart can only brag about being smart. those that make money brag about being rich just ask bill gates who has no degree except for the billions of dollars he has made. all bragging is no good but you get the point.all business is about math.take mcdonalds who makes hamburgers then burgerking comes do they make a more improved hamburger or wendys for that fact to me they are all hamburger joints and they all suck but they compound there profits into more profits in there case more store. so lets bring this into trading with some real math numbers. lets say you have 8 trades a month in each pair and you win 5 and lose 3 and the stop and target are 30 pips that leaves you a net of + 60 pips times it by 5 pairs and you have 300 pips now we look to get 50 on gbpjpy so add 100 pips and the total is 400 pips. are these number realistic you bet they are so what can we do with 400 pips well here is the key to the mint "compound" for the sake of clarity lets say you start with 10000 you can start with much less it will take you a little longer but for numbers sake lets start there. you trade 1 standard lot which is $10.00 a pip so 400 times 10.00 is 4000. so now acct is at 14000 do it again and acct is at 18000. now you trade at 2 lots or $20.00 a pip times it by 400 which is 8000 so after 3 months acct is now 26000 do it again and after 4 months acct is at 34000 now trade 3 lots or $30.00 a pip times 400 which is 12000 so after 5 months you have 48000 you continue till you get to 9 standard lots and stay there some companys when you trade 10 standard lots they are not just a click away but anyway do you see the power of compounding it isnt about making more pips its capitalizing on the 400 that can be consistently gotten dont get infected by holy grailitis first signs are to improve something that genarates 400 pips a month so it can make more pip i dont know about you i get paid in cash you can keep the pip. i know i am long here but i thought you needed to know

Hi Harold,

I have been following ur posts and thread since inception, but have not posted much as I have not the time to follow your method within my timeframe. But I think it is an excellent method. It incorporates the 2 most important facets of trading for me - patience and discipline.

I wanted to quote your above post, but it is a bit long, so with a reference to that post, it is just brilliant. Too often I have seen methods starting, then being modified by the author, others etc. Exactly as you have written. I love your identification of the disease, and being in the medical field, it is spot on.

Each time I see someone post in anythread, "guys I went long, and got stopped out, lets find a way to filter these small losses" I think, man, you got some serious issues with expectancy. People so often just start trading a method live after a few posts of it being written. They do not bother to backtest it manually etc, so have no idea of the amt of losses it can generate etc.

After searching and searching methods, I came to the conclusion, that if one has directional bias at the start of their trading time, the results are far better than trying to go in either direction.

Ppl starting out in this world of forex trading would do well to read and re-read your above post, and post it infront of their computers. i read this description some time ago, and didn't understand it at the time, but I do now : "Forex - the hardest way to make easy money"

LOL.

Regards,
K

very well put kermut at least 1 person and i am sure others also will get it. most people on these threads are either new to trading or have been searching for a method but havent realized that a part of doing business is overhead. tradings overhead is loses it isnt as important to cut loses short and let profits run as it is to have a consistent way of making those profits with a designed overhead in place

Harold,

As a newbie to forex, I really appreciate these more realistic comments about the biz. Obviously I have seen your system work over the past few months, but it's nice to get your other as important insights as well.

Thank you.

D

my pleasur dd i think most of the people on these threads are new to trading might as well bring reality to them

harold, great post for newbie and veteran alike. Bob

Harold,

I agree 100% with what you said. This works and the compound of results is all you need to build your wealth. I am trading your system during the evening and just finished up. Here are my numbers so far tonight. I am looking forward to the European session in a few hours.

Entry Exit Pips
GBPJPY Short 215.28 214.78 +50
EURJPY Short 160.97 160.57 +40
CHFJPY Short 98.26 98.06 +20

Total +110

Thank you Harold,

PipPrince