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the key to the mint

  • #2,581
  • Feb 1, 2008 1:02pm Feb 1, 2008 1:02pm
Hello Syedks,
Thanks for the invite. I am going to have my son walk this techno dinosaur thru the process of setting up and using the trading room format this weekend. It sounds like such a great teaching/learning tool. James16 Group has begun using it extensively as a teaching tool also. For someone who is typing challenged it should make the student/ teacher exchange flow so much better. My hope is that it doesn’t scatter my attention even further. I think a lot of us noobs suffer info overload as it is. I am getting better at compartmentalizing. I have opened several trading accounts, one for J16 – Price Action, one for The Mint, one for my form of Teb’s stuff and one I call The Wild Monkey where I just try all kinds of stuff. I am in my 5th month of profit on J16 and I’m in my 2nd month of profit on the Mint account. I am just getting started with my variation of Teb’s , looking good so far. I am down over 70% on the Wild Monkey. I am about to go live with J16 (it has been funded for 2 months), and maybe after next month with The Mint.
I can see it now, I get set up and really don’t get any sleep. due to following minty fresh chats all night. I live in Texas so CST and prime time for The Mint is 1:00am on, and I am due at work at 8:00am.
Good Trading,
Roy
  • #2,582
  • Feb 1, 2008 2:34pm Feb 1, 2008 2:34pm
Quoting syedks
no idea .. all news were bad for usd yet it went hell strong againt gbp and yen !!! not sure what happend there ...
News trading can be highly irrational at times, but by way of explainning what happened to NFP,-there was a revision on last month's data from 18 to 82k which shows a considerable improvement, also the unemployment data came out better too (from 5% to 4.9%) showing a +ve sign for the dollar.

This is just trying to rationalise the market's response to today's NFP. The fact that market's reaction to news could sometimes be highly irrational should not be overlooked, which makes trading news riskier than using technical analysis (my opinion).
God's Love For You Is Sure Never You Doubt It
  • #2,583
  • Feb 1, 2008 3:08pm Feb 1, 2008 3:08pm
thanks for the info on the revisions i didnt look at the total picture. hey eroyh i am proud of you the purpose of me sharing what i do is not to just repeat myself 100 times but that all would understand this simple little method of finding trend direction and then putting on trades. no need to feel lost or abandoned. the chicks have to leave the nest sooner or latter for you it was sooner. to give a man something to eat today means he goes hungry tomorrow teach him how to get food himself and he never goes hungry again.
  • #2,584
  • Feb 1, 2008 3:26pm Feb 1, 2008 3:26pm
here are the intersting signals for monday. we have shorts for gbpusd,gbpchf,gbpjpy but we have longs for cadjpy,audjpy no trade for eurjpy. now 2 of the 4 yen pairs are long while the gbpjpy is short the only reason i see is this the gbp is weaker against usd,chf and yen while the cad and aud are stronger against the yen the aud and cad are called commodities currency one of them is gold and the other is oil and since the price of gold and oil tanked i think this is why the cad and aud strengthened against the yen while the yen weakened against the dollar. just an opinion i could be wrong
  • #2,585
  • Feb 1, 2008 4:28pm Feb 1, 2008 4:28pm
And technical analysis isn't irrational? LOL

Quoting D liberators
The fact that market's reaction to news could sometimes be highly irrational should not be overlooked, which makes trading news riskier than using technical analysis (my opinion).
  • #2,586
  • Feb 1, 2008 5:04pm Feb 1, 2008 5:04pm
Hi Tdion If Ta Is Irrational Then Noone Should Trade Because No Matter What Method One Trades Its Still Analysis To Put On Trade And Therefore Its Irrational If Thats True Then There Are Millions And Millions Of Irrational People Out There Of Which I Am One Of Them Are You One Of Them? If Not Then You Are Not Trading. Then The Next Question Is Why Talk To Irrational People Lol
  • #2,587
  • Feb 1, 2008 8:39pm Feb 1, 2008 8:39pm
I have modified the Multi Mint Alert indicator to post a daily short/long signal regardless of the Stoch signal, hope this helps.
It also has the 6 current pairs in use.
Attached File(s)
File Type: mq4 MultiMint_Alerts_v1.mq4   15 KB | 682 downloads
  • #2,588
  • Feb 1, 2008 9:07pm Feb 1, 2008 9:07pm
This news may help explain the NFP reaction

The dollar shrugged off a dismal labor report in early Friday trading - slipping initially following the release, but rallying sharply after traders digested the news. The greenback fell just shy of a fresh all-time low against the euro at 1.4954 before surging to 1.4788 while pushing the sterling beneath the 1.97-level to 1.9655.

The non-farm payrolls for January unexpectedly contracted by 17k, considerably worse than calls for an increase of 80k - and shrinking from an 18k increase in payrolls in the previous month. The unemployment rate, however, improved to 4.9%, drifting from 5.0% a month earlier. Average earnings edged up by 0.2%, but down from 0.4% previously, while the average work week was marginally lower at 33.7 hours. Also released today were January manufacturing ISM, which defied estimates for a decline to 47.3 from 47.7, instead improving to 50.7 and the University of Michigan consumer sentiment survey, improving to 78.4 from 75.5.
  • #2,589
  • Edited 3:34am Feb 2, 2008 3:19am | Edited 3:34am
Hi Poki,

thank's a lot

But I think it has a bug, it say's "no trade" on GBPJPY and CADJPY daily, but CADJPY are closed in "Long mode" on the daily's and GBPJPY are in "short mode" on the daily's. I use MIG as platform. Any input or maybe it is a Friday/Sunday candle thing that makes it wrong?

PC

Quoting poki
I have modified the Multi Mint Alert indicator to post a daily short/long signal regardless of the Stoch signal, hope this helps.
It also has the 6 current pairs in use.
Less is more...
  • #2,590
  • Feb 2, 2008 4:17am Feb 2, 2008 4:17am
Thanks Harold for taking the time to type out your thoughts. This is interesting analysis and very helpful for future trading. Appreciate you putting the info here.

Will you be in chat room 500gmt Monday or can you do a post here when you will be there?
thanks a lot.


jht

Quoting harold4x
here are the intersting signals for monday. we have shorts for gbpusd,gbpchf,gbpjpy but we have longs for cadjpy,audjpy no trade for eurjpy. now 2 of the 4 yen pairs are long while the gbpjpy is short the only reason i see is this the gbp is weaker against usd,chf and yen while the cad and aud are stronger against the yen the aud and cad are called commodities currency one of them is gold and the other is oil and since the price of gold and oil tanked i think this is why the cad and aud strengthened against the yen while the yen weakened against the dollar. just an opinion i could be wrong
  • #2,591
  • Edited 4:41pm Feb 2, 2008 5:34am | Edited 4:41pm
Quoting pipcruiser
Hi Poki,

thank's a lot

But I think it has a bug, it say's "no trade" on GBPJPY and CADJPY daily, but CADJPY are closed in "Long mode" on the daily's and GBPJPY are in "short mode" on the daily's. I use MIG as platform. Any input or maybe it is a Friday/Sunday candle thing that makes it wrong?

PC
Yes i noticed the daily signal is not correct for when trading closed Friday, i assumed it gives the next days signal when the new candle opens, that will be Sunday, if it doesnt match i'll have another look at the ind.
The current signals showing for the daily were correct for Friday on my charts.
  • #2,592
  • Feb 2, 2008 7:39am Feb 2, 2008 7:39am
Quoting poki
Yes i noticed the daily signal is not correct for when trading closed Friday, i assumed it gives the next days signal when the new candle opens, that will be Sunday, if it doesnt match i'll have another look at the ind.
The current signals showing for the daily where correct for Friday on my charts.

Thank you, Poki. While you're looking at it, could you please also make a version for a mini account? Much appreciated.

j
  • #2,593
  • Edited 8:14am Feb 2, 2008 8:01am | Edited 8:14am
!
  • #2,594
  • Feb 2, 2008 8:51am Feb 2, 2008 8:51am
Quoting jump
Thank you, Poki. While you're looking at it, could you please also make a version for a mini account? Much appreciated.

j
nevermind; went into the code and added m's. seems to have worked.
  • #2,595
  • Feb 3, 2008 2:11am Feb 3, 2008 2:11am
Hi All,

Can you programm that all 3 signals meet, gives the sound alarm continously until we turn it off. It helps us not to wake all over night for signal.

Forexmad
  • #2,596
  • Feb 3, 2008 2:17am Feb 3, 2008 2:17am
hi harold

I want to follow your trades from now , please let me know:

1 ) Have you traded according the document file in the first post yet ? or you have changed the rules?
2 ) what it your broker's time ?

thanks
  • #2,597
  • Feb 3, 2008 1:12pm Feb 3, 2008 1:12pm
It is amazing to me how many people ask questions that have been asked over and over again . . . I feel Harold's pain . . .
  • #2,598
  • Feb 3, 2008 1:34pm Feb 3, 2008 1:34pm
I found this thread when it was already at 100 and something pages. I read the whole thread at least 3 or 4 times, went back at some topics and made notes to be able to understand the whole system (Not that difficult, but I am a starter in forex and already blew a $10,000.00 account). Unfortunately not all of us do their homework and want instant gratification. You must learn to be considered and thankful that someone like Harold graciously shares his experiences and knowledge with the rest of us. Why not read the whole thread? It will only take an hour or two. Worth the time and effort... I think...
  • #2,599
  • Feb 3, 2008 8:44pm Feb 3, 2008 8:44pm
Well to see if I understand the system, tonights trade possibilities are:
GBP/JPY short
GBP/USD short
EUR/JPY no trades
AUD/JPY long
GBP/CHF short

How did I do? Harold will you be on the Trading Room tonight? And would you trade all of these, or just the first one to make 30 pips and quit? This could be a busy evening. I'm new and in the last few trading days we have only had one or two possibilities.
  • #2,600
  • Feb 3, 2008 9:15pm Feb 3, 2008 9:15pm
Quoting Artifiz
I found this thread when it was already at 100 and something pages. I read the whole thread at least 3 or 4 times, went back at some topics and made notes to be able to understand the whole system (Not that difficult, but I am a starter in forex and already blew a $10,000.00 account). Unfortunately not all of us do their homework and want instant gratification. You must learn to be considered and thankful that someone like Harold graciously shares his experiences and knowledge with the rest of us. Why not read the whole thread? It will only take an hour or two. Worth the time and effort... I think...
Well said Artifiz. I agree 110%.
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