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the key to the mint

  • #3,081
  • Mar 11, 2008 5:35pm Mar 11, 2008 5:35pm
The charts above are actually out of order obviously finding where to put your stop would never be the first step that first picture should of been second but you get the idea... Entry would of been on the break of swing 2
Time hides Nothing
  • #3,082
  • Mar 11, 2008 6:06pm Mar 11, 2008 6:06pm
Quoting CindyXXXX
The charts above are actually out of order obviously finding where to put your stop would never be the first step that first picture should of been second but you get the idea... Entry would of been on the break of swing 2
Hi Cindy,

This is a good idea, very well done....T-Wolf
  • #3,083
  • Mar 11, 2008 6:08pm Mar 11, 2008 6:08pm
No Harold, you are not an acident waiting to happen but God's miracle waiting to happen.
Quoting harold4x
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
God's Love For You Is Sure Never You Doubt It
  • #3,084
  • Mar 11, 2008 6:19pm Mar 11, 2008 6:19pm
Quoting thunderwolf
Hi Cindy,

This is a good idea, very well done....T-Wolf
Thanks T Wolf but it wasn't my idea.

Harold showed us yesterday
Time hides Nothing
  • #3,085
  • Mar 11, 2008 7:04pm Mar 11, 2008 7:04pm
To all who try to explain this revised 123 method to the mint with charts today, well thank you very, very, very much!!! i am having such a hard time to comprehend this 123, fib extension & retracement, entry, stop, and determined TP points. However, its just starting to come together slowly.

I am beginning to understand:
1. the the entry and stop based on the 123 placement.


I do still have a couple questions.

1. how and where do you determine to start the "1" in the 123 patterns?
2. fib expansion placement points on the chart
settings are to be with a 6 5 3?

3. fib retracement not sure on placement points
not sure the settings either

4. how do you determine which fib extension to choose for exit? I think it's based on fib retracement? or you just pick the 1:1 RR based on stop loos to entry point?

A dense T4L in need of help
  • #3,086
  • Mar 11, 2008 7:27pm Mar 11, 2008 7:27pm
Ok T4l I Am Going To Try And Answer All Your Questions #1 To Determine Where Number 1 Begins Is Lets Say The Daily Says Its A Down Trend And The Price Is Going Up Makes A High Then Retraces Part Of The Way Then Takes Out The High Then Retraces But The Next Push Up Doesnt Take Out The High Before It Starts To Come Down There Is A Problem Then With The Uptrend Since An Uptrend Consists Of The Market Making Higher Highs And Higher Lows So That Last High Becomes # 1 And The Retracement Becomes #2 And The Retest That Failed To Take Out The High Is #3 Question#2 That 653 Is For The Zigzag Indicator I Use It As A Visual The Use The Fib Extention We Always Start With Point 1 Then Drage It To Point 2 Then To 3 Question#3 We Use The Fib Retracement Tool To See Where The Price As Said Before Made A High Then Retracedso We Take It Fron The High To The Pullback Low And See Where Point 3 The Failed Retest Of The High Went To Either 50% 61 % 78% If 50 Then Use 127 As Target If 61 Then Use 161 As Target If 78 Then Take It To 200 I Think I Have Answered All The Question
  • #3,087
  • Mar 12, 2008 1:34am Mar 12, 2008 1:34am
I'll try and put in a picture what harold just put in words - Please correct me if any of its wrong harold

http://picnac.com/images/2475123example.gif

http://picnac.com/images/1025123example2.gif
Time hides Nothing
  • #3,088
  • Mar 12, 2008 3:21am Mar 12, 2008 3:21am
Stitch961

Thanks a lot for the other time, i saw you reply halrod4x about one cci and 200ema, how dose that work with the mint? and is Cyindyxxx right agout his explanation of the fibo? and pls is there any promising trade to take today?
whising you all a nice trading day,
Osta

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.
  • #3,089
  • Mar 12, 2008 4:01am Mar 12, 2008 4:01am
Harold,
Thanks for the answers to the questions put forward by T4L. Its brought futher clarity to the change in the system.


CindyXXXX,
Many thanks for the illustrations of the answers given by Harold. It takes one who is gifted to teach to know how to pass on his/her knowledge with utmost clarity and simplicity. Going ahead to actually take out time do it (make the illustrations) further buttresses this.

Thanks a lot for your help!
  • #3,090
  • Mar 12, 2008 4:41am Mar 12, 2008 4:41am
Quoting Tolu07
Harold,
Thanks for the answers to the questions put forward by T4L. Its brought futher clarity to the change in the system.


CindyXXXX,
Many thanks for the illustrations of the answers given by Harold. It takes one who is gifted to teach to know how to pass on his/her knowledge with utmost clarity and simplicity. Going ahead to actually take out time do it (make the illustrations) further buttresses this.

Thanks a lot for your help!
no worries - I like to help when I can cause the only reason I've learned anything is because other people have taken the time to help me and I know how much I apreciated it.

As for the teaching well both my parents are teachers so maybe that has something to do with it lol but thank you
Time hides Nothing
  • #3,091
  • Mar 12, 2008 6:03am Mar 12, 2008 6:03am
Hi all,

Here is Martin Prings doc about trends. It may help some of you understand what consititues a trend and when a trend changes direction.
Attached File(s)
File Type: zip Technical Analysis for Short-Term Traders.zip   1.8 MB | 1,001 downloads
File Type: pdf Peaks_and_Troughs_Pring.pdf   181 KB | 853 downloads
  • #3,092
  • Mar 12, 2008 8:44am Mar 12, 2008 8:44am
Here is a Eur long trade for 31 pips. The daily trend is Up. The 123 set up wasn't classic, point 3 was just a touch below point 1 but when it came up and broke point 2 I was in like flint. RSI above 50 and CCI above 0. Price action went past my Take Profit 2 level so I exited @ 1.5421. Of course looking at the chart after the fact I could have stayed in for an additional 50 pips. I may have to add another Take Profit extension to my fib tool. Over all a good trade.
Attached Image (click to enlarge)
Click to Enlarge Name: 120308 eur long t1.gif Size: 29 KB
  • #3,093
  • Mar 12, 2008 9:04am Mar 12, 2008 9:04am
osta, Sorry to be late with this reply. I should let you know that I am not trading harolds new "15 minute mint" method. I am studying it, but can't seem to make it work as well as the original method. I think the use of the 200 ema is just for visual confirmation of the trend. The cci is used to confirm the trade: below 0 signals sell trades, above signals buy. I hope someone else will give a better explanation. I don't use either one of these indicators to actually trade. This won't be any help now ( too late ): I did take one trade last night. I sold the cad/jpy for + 31 pips. ( not one of harolds pairs ). I hope this helps, have a great day.
Hej.
  • #3,094
  • Mar 12, 2008 9:36am Mar 12, 2008 9:36am
Hey Stich Good Work If You Dont Understand As Yet You Shouldnt Trade It We Had 3 Setups Last Night 3 Winners
  • #3,095
  • Mar 12, 2008 9:41am Mar 12, 2008 9:41am
Harold, I haven't picked this up yet.. Are trading TIMES still the same with the 123 system.. Beginning 2am est? Or does this system make other time periods good also?
  • #3,096
  • Mar 12, 2008 10:14am Mar 12, 2008 10:14am
Quoting ozziedave
Here is a Eur long trade for 31 pips. The daily trend is Up. The 123 set up wasn't classic, point 3 was just a touch below point 1 but when it came up and broke point 2 I was in like flint. RSI above 50 and CCI above 0. Price action went past my Take Profit 2 level so I exited @ 1.5421. Of course looking at the chart after the fact I could have stayed in for an additional 50 pips. I may have to add another Take Profit extension to my fib tool. Over all a good trade.

Ozzie,
I've been reading harold's new method. I thought I understood it, but your post puzzles me a little bit.

How could it be a trade if it wasn't a "classic" 1-2-3?


Are you trading a method different than harold's, but similar?

What are your rules?

Thanks
  • #3,097
  • Mar 12, 2008 10:29am Mar 12, 2008 10:29am
Quoting billbss
Ozzie,
I've been reading harold's new method. I thought I understood it, but your post puzzles me a little bit.

How could it be a trade if it wasn't a "classic" 1-2-3?


Are you trading a method different than harold's, but similar?

What are your rules?

Thanks
Hi Bill,

Ozzie broke the rules of 123 but he knew that and decided to take the risk any way and it worked out for him but you're right about #3 should not be lower than #1 Maybe Ozzie has his own criteria, if so maybe he'll explain it to us.
All the best....T-Wolf
  • #3,098
  • Mar 12, 2008 11:23am Mar 12, 2008 11:23am
Quoting CindyXXXX
no worries - I like to help when I can cause the only reason I've learned anything is because other people have taken the time to help me and I know how much I apreciated it.

As for the teaching well both my parents are teachers so maybe that has something to do with it lol but thank you

You sure have picked up some exceptional teaching skills from them. They are obviously very good teachers too.

I'am now poised to make a good success out of the modified system.

Happy trading!
  • #3,099
  • Edited 4:14pm Mar 12, 2008 11:31am | Edited 4:14pm
Here ya go guys...

If you look at the bigger picture you will see an uptrend starting. I've renumbered the 123 to start at the begining of the up trend. So you have a double top which is point 2 and a double bottom which is point 3. Even though the second point 3 is a few pips lower (actually 4 pips lower) it still is close enough in forex to consider it a double bottom. The number 1 point is never broken to the down side so the uptrend is intact. When price breaks point 2 the indicators are all in your direction plus the daily is in an up trend. That's why I said this wasn't a classic 123. The other thing to note is the green line which is old resistance becomes support. Price bounces off the support line twice (point 3) and goes up and breaks point 2. Like I said...I was in like Flint. Hope that gives you a bit more of an explanation as to why I took that trade. By the way..very little risk on this trade because of the support/resistance line that helped confirm the bounce in the up direction.

In my original trade post 3092 I was just trying to make the explanation simple without getting into double tops and double bottoms. Didn't want to confuse anyone but it appears I did.
Attached Image (click to enlarge)
Click to Enlarge Name: 120308 eur long t2.gif Size: 39 KB
  • #3,100
  • Mar 12, 2008 11:47am Mar 12, 2008 11:47am
Quote
Here ya go guys...

If you look at the bigger picture you will see an uptrend starting. I've renumbered the 123 to start at the begining of the up trend. So you have a double top which is point 2 and a double bottom which is point 3. Even though the second point 3 is a few pips lower (actually 4 pips lower) it still is close enough in forex to consider it a double bottom. The number 1 point is never broken to the down side so the uptrend is intact. When price breaks point 2 the indicators are all in your direction plus the daily is in an up trend. That's why I said this wasn't a classic 123. The other thing to note is the green line which is old resistance becomes support. Price bounces off the support line twice (point 3) and goes up and breaks point 2. Like I said...I was in like Flint. Hope that gives you a bit more of an explanation as to why I took that trade. By the way..very little risk on this trade because of the support/resistance line that helped confirm the bounce in the up direction.

As far as i am concern, I would have taken the trade too, though a bit deviation from the norm(123 swing) but then the resistance that has turned support should give a good reason to take the trade and more over price broke through swing 2.

Good analysis!
Good trade taken!

Keep it up
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