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the key to the mint

  • #3,061
  • Mar 10, 2008 10:12pm Mar 10, 2008 10:12pm
Quoting harold4x
its free just down load and log on its a chat room that charts can be shown as well as audio
Cheers Harold downloadng now
Time hides Nothing
  • #3,062
  • Mar 10, 2008 10:36pm Mar 10, 2008 10:36pm
Quoting harold4x
i never had the courage to trade long term maybe one day went i started trading full time 7 yrs ago i had a goal to make a living at this the first year was hard till i stumbled on to this. i tried tweaking this with fib,pivots,elliot waves, 123"s not the way you mentioned and other ways including no indicators but at the end of the day trading with the trend from the daily chart is in my opinion the key to the mint. that why when we go through these times of consolidation i know how tempting it is to put on countertrends and other stuff so we can be in a trade, we all like the action but i love the money more and thats true money management which is the true key to the mint
harold, early on you mentioned how you had tried but found that many indicators didn't work. I have been an early convert to the 'mint' and one reason was this use of just a few indicators. I am thankful you posted this great system and I don't mean this as a negative, just trying tofigure it out. How did you find out that the 1-2-3, the 200 ema, fib's and the cci would work well with the 15 min charts? Was it by accident you found out that they worked well or did you just add them one at a time and test? I've tried to use all these at one time or another and haven't always been successful. It's seems that you have done it and I'm curious about how and what was your thinking? I know we have to constantly work to improve our trading and it seems that you have done that w/ the 15 min chart. Thanks, again.
Hej.
  • #3,063
  • Mar 10, 2008 10:43pm Mar 10, 2008 10:43pm
SignalMail: EA will email you using your MT4 settings when it opens a trade. If you only want signals and do not want the EA to place trades for you, turn this on and disable "Allow Live Trading"

Can someone help. I have looked thru' the EA and can't find the line to disable allow live trading.
  • #3,064
  • Mar 10, 2008 10:56pm Mar 10, 2008 10:56pm
tonghoe: Right click anywhere on chart, click Expert Advisors. When the ea dropdown window appears click on the "comman" tab, then uncheck "Allow live trading". Hope this helps.
Hej.
  • #3,065
  • Mar 10, 2008 11:06pm Mar 10, 2008 11:06pm
Thks.
  • #3,066
  • Mar 10, 2008 11:17pm Mar 10, 2008 11:17pm
hey stich i have shared it a bunch of times it was by chance on a losing trade i had a 15 min chart up then for some reason all the learning of all these things over the years finally clicked in my head and by using the indicators to confirm price action they are now being used properly and the targets make sence just fortunate to be able to put it together the mint also was discovered by accident also i am just an accident waiting to happen lol
  • #3,067
  • Mar 11, 2008 12:24am Mar 11, 2008 12:24am
Quoting Stitch961
thunderwolf, just a quick question. how do you get the great little 1-2-3 patterns on your charts? I also use meta trader charts. thanks beforehand. Bob
Hi There Stitch,

Sorry for getting back to you so late on your question but I was out looking for an accident to happen to see if it was Harold Just got back in a while ago.
To get the 123 patterns, I just eyeball the charts for swing highs and lows and retracements. If it's a valid 123, I click on Insert on the chart tool bar and select fibonacci then on sub menu that comes up I select expansion. After clicking on expansion I bring the tool onto the chart and click on a swing high, and drag the tool down to the swing low and release the mouse. By default the expansion tool will show a retrace of 50%. If the actual retracement high is lower or higher than 50% just click on one of the ends of the line the fibo tool made and you should see the 3 points of the line. Click on the retracement point and drag it to your actual retracement high on the chart. This will give you your accurate expansion targets.

On the charts I attached, on expansion properties I selected different colors on the common tab to better identify each 123, for colors on fibo level I selected none. That's why you only see the colored lines for each 123 pattern.

I also use a Non Lag ZigZag that does a good job of picking up 123's as they happen. I'll attach the indicator here for you.
Hope I answered your question well enough for you Stitch {BOB}....T-Wolf
Attached File(s)
File Type: mq4 NonLagZigZag_v2.mq4   6 KB | 744 downloads
  • #3,068
  • Mar 11, 2008 2:48am Mar 11, 2008 2:48am
Hi,
I just downloaded tradingroom but there is few devisions and lots of rooms.I culdn't find anything with Mint.

Would you tell me under what subdevision you are and what is the name of room please?

Thanks
Mike
Failure, is a wonderful teacher!
  • #3,069
  • Mar 11, 2008 3:28am Mar 11, 2008 3:28am
Quoting mike1349
Hi,
I just downloaded tradingroom but there is few devisions and lots of rooms.I culdn't find anything with Mint.

Would you tell me under what subdevision you are and what is the name of room please?

Thanks
Mike
Hey mike its n community rooms called key to the mint keep looing you'll find it
Time hides Nothing
  • #3,070
  • Mar 11, 2008 8:13am Mar 11, 2008 8:13am
technically there was no clean setups today the gbpusd waved up and down within the movelate yesterday it did break the high but the market didnt give us an entry today hopefully everyone is seeing how the market works hh and hLand LL and Lh = trends
  • #3,071
  • Mar 11, 2008 8:52am Mar 11, 2008 8:52am
Quoting harold4x
technically there was no clean setups today the gbpusd waved up and down within the movelate yesterday it did break the high but the market didnt give us an entry today hopefully everyone is seeing how the market works hh and hLand LL and Lh = trends
Can u show some chart that how to find HH and HL and LL and LH

thx
  • #3,072
  • Mar 11, 2008 9:00am Mar 11, 2008 9:00am
thanks to both harold & twolf for replies to my recent questions. I really appreciate the information. good trading. Bob
Hej.
  • #3,073
  • Mar 11, 2008 9:05am Mar 11, 2008 9:05am
we having fun yet !!!!
  • #3,074
  • Mar 11, 2008 9:31am Mar 11, 2008 9:31am
can anyone who attended the trading lession explain with the chart that how to find the trending or sideways market by looking at HH,HL and LH,LL.

Thank you very much.
  • #3,075
  • Mar 11, 2008 10:32am Mar 11, 2008 10:32am
i made a signal to see in 15mn if daylli its ok you can change stting of rsi cci and ema give a try and tell if if is usefull or no sorry for my english
Attached File(s)
File Type: mq4 Mint signal.mq4   2 KB | 650 downloads
  • #3,076
  • Mar 11, 2008 12:40pm Mar 11, 2008 12:40pm
Quote
Hi Naijafx,

The charts I posted are what I understand from Harold's explanation, so he would be the expert to confirm all your questions. Anyway here's what I am doing.

1. Confirm trend direction on daily chart with EMA's & RSI 13
2. Trade on 15M chart only in direction of Daily Chart Trend
3. Look for 123 patterns.

A. In a down trend#1 is Swing High#2 is Swing Low #3 Retracement
B. Uptrend #1 is Swing Low#2 is Swing High #3 is Retracement

4. Trade on the break of the # 2 point of pattern after #3 Retracement
Point is established only if price is in agreement with the indicators.
5. Confirmation for trade: Down trend- A. 5 is below 8 EMA B. RSI is below 50 C. Stochastic is crossed & pointing downward D. CCI is below 0

6. If the indicators are in agreement you enter trade on the close of the candle that broke past the #2 point.

On the first chart, I showed 4 possible entries on Monday for Gbp/Jpy. Each 123 pattern is a different color to see them more clearly. You'll see colored check marks matching the color of the 123 pattern. The candle above each check mark is the candle that broke the #2 point of each 123 pattern. After the close of that candle I entered the trade { the vertical dotted line that matches the color of that particular 123 pattern. So as not to over clutter the chart, I only showed the fib expansion targets on the last [ Aqua Blue ]
123 pattern.

The second chart I attached shows what Harold refferred to earlier, the last swing high on Friday to a major swing low on Monday. This shows a fib retracement in blue. Target 1 is 138.2 Retrace and Target 2 is 161.8 Retrace

Pretty cool how price went right to the 161.8% retracement!

Sorry for this long post but I hope you understand my explanation...T-Wolf Attached Thumbnails http://www.forexfactory.com/attachme...1&d=1205194829 http://www.forexfactory.com/attachme...1&d=1205194829

TW,

How about determing sl and take profit with this method?

Thanks for your time
  • #3,077
  • Mar 11, 2008 3:40pm Mar 11, 2008 3:40pm
Quoting Naijafx
TW,

How about determing sl and take profit with this method?

Thanks for your time
Hi Naijafax,

Here's a Chart showing an example of stop loss and profit targets. Your 127.2 & 161.8 fib. expansions are your profit targets. Another idea for a stop loss if you feel it's too big is to calculate how many pips it is to your first Take Profit target from your entry, let's say it's 32 pips, then set your stop loss to 32 pips so you have a 1 to 1 risk reward ratio. But I would say the #3 retracement point, like on the chart I attached would be the safest. You could also move your stop to break even after your first target is hit and set a trailing stop. That way if your 2nd Target is not hit, you'll still have profit when price hits your trailing stop.

Hope these ideas help you and maybe Harold could give us his ideas

Take Care......T-Wolf
Attached Image (click to enlarge)
Click to Enlarge Name: stop loss_take profits.gif Size: 18 KB
  • #3,078
  • Mar 11, 2008 4:35pm Mar 11, 2008 4:35pm
Quoting harold4x
we having fun yet !!!!
I'm Having fun Hazza
Time hides Nothing
  • #3,079
  • Mar 11, 2008 4:41pm Mar 11, 2008 4:41pm
Quoting harold4x
technically there was no clean setups today the gbpusd waved up and down within the movelate yesterday it did break the high but the market didnt give us an entry today hopefully everyone is seeing how the market works hh and hLand LL and Lh = trends

I still like the old system. It gave a clean signal on the GBP/USD move at 6 am EST. Took it for a nice ride
  • #3,080
  • Edited 5:47pm Mar 11, 2008 5:28pm | Edited 5:47pm
Quoting Naijafx
TW,

How about determing sl and take profit with this method?

Thanks for your time
Hey naija I will try and explain what Harold showed me yesterday about sl and targets

The first picture shows where to put your stop... In this case we are going long so we put it under the swing 3 which is he last area of support

The second picture we measure how far it pulls back from swing 2 by drawing the retracement fib from swing 1 to swing 2...

We see swing 3 established on the second level of the retracement fib... So therefore we are targeting the second level of the expansion fib which is shown in picture 3

Hope this helps

http://picnac.com/images/607chart 1.gif

http://picnac.com/images/2442chart2.gif

http://picnac.com/images/655chart3.gif
Time hides Nothing
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