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the key to the mint

  • #3,461
  • Apr 14, 2008 4:35am Apr 14, 2008 4:35am
no i dont
  • #3,462
  • Apr 14, 2008 4:07pm Apr 14, 2008 4:07pm
well this morning was not a profitable one for me i took the gbpusd short and it went down 1 candle and for no reason shot up for a loss it happens cant win them all there was eurjpy long which i didnt get i was sleeping that would have been a winner here are todays trend directions eurjpy long gbpusd and gbpjpy short still waiting for the audjpy to close to see direction
  • #3,463
  • Apr 15, 2008 3:19am Apr 15, 2008 3:19am
Hi harold,
i have bin following ur system from last year but as i read along i discovered that u added some things to it. those things became confusing to me but i wud like to stay put with the emas, rsi and the stochastic as profited u for a while before u improved on it. i learnt something from u which is that as we seek to improve a system, the system itself will eventually die. pls i need ur advice on some thing. will be wise for me to enter for trades set my limits (stop loss and take profit) and then allow the trade to work itself out. i dont want my emotions to cause me to closea trade early. will it be wise to trade ur system this way? thanks in anticipation for ur reply.
  • #3,464
  • Apr 15, 2008 5:53am Apr 15, 2008 5:53am
well if you are referring to the original mint with just the indicator cross if you want to get emotions out of way then put them on and go away but what we are doing now makes that easier and more logical since stop and target are in right place the other way is just arbitrary stop and target
  • #3,465
  • Apr 15, 2008 6:11am Apr 15, 2008 6:11am
Here is my GBP short trade from Tuesday. See the 123 set up. Daily is short. We have a bounce down from resistance line. Entry @ 1.9672 exit @ 1.9648 for 25 pips.
Attached Image (click to enlarge)
Click to Enlarge Name: 150408 gbp short t21.gif Size: 25 KB
  • #3,466
  • Apr 15, 2008 6:39am Apr 15, 2008 6:39am
hi dave i see trade worked but again i stress we dont sell low to go lower we sell higher to go lower it is much safer and it makes more sence this is just a continuation pattern of on going trend but the 123 pattern is always at the end of a trend to reverse to go the other way thats why if daily is down we want it to pull back (trend up then form a 123 here is gbpjpy to show just that we have a daily trend down and it trended up then the 123 formed
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 1.GIF Size: 42 KB
Click to Enlarge Name: 2.GIF Size: 43 KB
  • #3,467
  • Apr 15, 2008 6:47am Apr 15, 2008 6:47am
That advice is a super-important aspect of your method. Much safer and usually alot more pips in one's pocket. Thanks again Harold.
  • #3,468
  • Edited 5:28pm Apr 15, 2008 7:09am | Edited 5:28pm
i thought i would post rules here to make it simpler for anyone coming in so i wont have to go over it again. we put on a 5 ema (close) and 8 ema (open) rsi 13 with a 50 level and stoc 833 the pairs i trade are eurjpy gbpjpy audjpy gbpusd. we go to daily chart first and see if 5 and 8 ema are crossed and see if rsi has crossed the 50 in same direction. sometimes it may be hard to see so open data window and look at values. lets say the ema's are crossed to downside and rsi has crossed 50 level we have a daily trend down starting at 00 gmt time.dont use the stoc to determine daily trend. i begin looking from that time i stop looking around 1400-1500gmt. now we go to the 15 min chart and look for the 123 pattern we want to see price be trending up on 15 min chart and then form a 123 to go short. REMEMBER THIS!!!!! SELL HIGH AND BUY LOW!!!!! the target is equal to stop. we get this from the distance from point 2 to point 3 this method is based strictly on win loss percentage which runs about 70%+ so once we have a 123 setup and we are waitng for a break of the #2 point we also need confirmation from the 3 indicators so when point 2 breaks we want all 3 indicators to have crossed before its a valid entry if not dont enter. heres the money management i use. i trade 3% of acct per trade. here is an example if i have 10000 and 3% of that is 300 that is my risk and reward. so it doesnt matter what my stop is whether its 100 pips or 15 the risk is the same just adjust lot size. here is an example 50 pip stop means i trade it at 6.00 a pip +300 100 pip stop means i trade it at 3.00 a pip put on 4 good trades a month thats 12% here are charts to show the setup first chart is daily tend 2nd is the setup i use the zigzag indicator set at 5 5 3 JUST AS A GUIDE!!!!! sometimes the 123 is within the zig or the zag
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 1.GIF Size: 38 KB
Click to Enlarge Name: 2.GIF Size: 42 KB
  • #3,469
  • Apr 15, 2008 8:23am Apr 15, 2008 8:23am
harold4x, these last 2 posts are some of your best, ever. I do believe you're catching on to this (LOL). That last post with the rules should help the new people quite a bit. Have a good day, see you in the room later. Bob
Hej.
  • #3,470
  • Apr 15, 2008 9:42am Apr 15, 2008 9:42am
Quoting harold4x
i thought i would post rules here to make it simpler for anyone coming in so i wont have to go over it again. we put on a 5 ema (close) and 8 ema (open) rsi 13 with a 50 level and stoc 833 the pairs i trade are eurjpy gbpjpy audjpy gbpusd. we go to daiy chart first and see if 5 and 8 ena are crossed and see if rsi has crossed the 50 in same direction. sometimes it may be hard to see so open data window and look at values. lets say the ema's are crossed to downside and rsi has crossed 50 level we have a daily trend down starting at 00 gmt time.dont use the stoc to determine daily trend. i begin looking from that time i stop looking around 1400-1500gmt. now we go to the 15 min chart and look for the 123 pattern we want to see price be trending up on 15 min chart and then form a 123 to go short. REMEMBER THIS!!!!! SELL HIGH AND BUY LOW!!!!! the target is equal to stop. we get this from the distance from point 2 to point 3 this method is based strictly on win loss percentage which runs about 70%+ so once we have a 123 setup and we are waing for a break off the #2 point we also need confirmation from the 3 indicators so when point 2 breaks we want all 3 indicators to have crossed before its a valid entry if not dont enter. heres the money management i use. i trade 3% of acct per trade. here is an exampl if i have 10000 and 3% of that is 300 that is my risk and reward. so it doesnt matter what my stop is whether its 100 pips or 15 the risk is the same just adjust lot size. here is an example 50 pip stop means i trade it at 6.00 a pip +300 100 pip stop means i trade it at 3.00 a pip put on 4 good trades a month thats 12% here are charts to show the setup first chart is daily tend 2nd is the setup


Hi Harold On the chart the Zig Zag is not on the #3 point
It does not have to follow it I guess?
My Email For Help: [email protected]
  • #3,471
  • Apr 15, 2008 11:51am Apr 15, 2008 11:51am
hi tcmm,

if you click on the paperclip, top right, and scroll down 'till you find NonLagZigZag_v2, attach this and change the length setting to 7, you will find it matches what harold meant

Arnie
  • #3,472
  • Apr 15, 2008 6:15pm Apr 15, 2008 6:15pm
Quoting Arnold49
hi tcmm,

if you click on the paperclip, top right, and scroll down 'till you find NonLagZigZag_v2, attach this and change the length setting to 7, you will find it matches what harold meant

Arnie
Thanks so much for posting this along with the setting. I can see already that this indicator is going to bless me. Thanks
Live today as if you will stand before God tomorrow.
  • #3,473
  • Apr 15, 2008 8:21pm Apr 15, 2008 8:21pm
Did you sneeze?

Quoting Pippy Cent
I can see already that this indicator is going to bless me. Thanks
  • #3,474
  • Apr 16, 2008 5:26pm Apr 16, 2008 5:26pm
this thread is great!
I don't say
  • #3,475
  • Apr 16, 2008 11:40pm Apr 16, 2008 11:40pm
Quoting tdion
Did you sneeze?
You got me laughing!!!
  • #3,476
  • Apr 18, 2008 3:42pm Apr 18, 2008 3:42pm
This Was A Tough Week Lets Hope The Pairs Straightened Them Selves Out And Get Back On Our Winning Ways
  • #3,477
  • Apr 19, 2008 3:03am Apr 19, 2008 3:03am
Hi, guys,
I will attach some useful indicators, they grafically show you the situation within all the TFs you need in one window, just select the TF and the indi options from inputs.
Just put them in indicators folder and restart MT4, it will be compiled automatically.
Select what TF you want by erasing unnecesary TF from input window, also adjust the subwindow dimension to see all the TF you want within the screen.
Hope it helps, enjoy
Attached File(s)
File Type: mq4 All CCI v1.0.mq4   9 KB | 591 downloads
File Type: mq4 All RSI v1.0.mq4   8 KB | 587 downloads
File Type: mq4 All Stochastic v1.0.mq4   9 KB | 766 downloads
File Type: mq4 All WPR v1.0.mq4   8 KB | 809 downloads
I don't say
  • #3,478
  • Apr 21, 2008 1:15pm Apr 21, 2008 1:15pm
thanks but more indicators are not needed we have enough with 3 thanks again
  • #3,479
  • Apr 22, 2008 9:36am Apr 22, 2008 9:36am
Hi Harold,

I thought Dave sold at break of #2 of 123 setup, according to the strategy.

I don't quite follow what is the variation you are pointing out.

Could you please explain again. Sorry for the trouble.

Thanks
TS

Quoting harold4x
hi dave i see trade worked but again i stress we dont sell low to go lower we sell higher to go lower it is much safer and it makes more sence this is just a continuation pattern of on going trend but the 123 pattern is always at the end of a trend to reverse to go the other way thats why if daily is down we want it to pull back (trend up then form a 123 here is gbpjpy to show just that we have a daily trend down and it trended up then the 123 formed
Haste not to Enter AND Haste not to Exit !-TradeStar
  • #3,480
  • Apr 22, 2008 7:47pm Apr 22, 2008 7:47pm
Tradestar,
I'm certainly not Harold, but I will do my best to give you an answer. In Harold's post #3466 he is explaining OzzieDave's trade from post 3465. What I think Harold is saying is that Dave's trade was a valid 123 pattern, but it was a continuation pattern of the trend that was already extended. Harold was saying that in a downtrend, you should be looking to short a 123 pattern after a pullback (brief uptrend), when the downtrend is just beginning to resume. This way you are selling high at the resumption of the downtrend, instead of shorting a 123 pattern in an extended downtrend that may be running out of steam. Harold and Dave I am sorry if my observations are incorrect. I am only trying to help. By the way, thanks to both of you for this great thread and chart examples. I greatly appreciate it.http://www.forexfactory.com/images/icons/icon7.gif
Thanks,
Dave
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