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the key to the mint

  • #5,021
  • Oct 18, 2009 2:47pm Oct 18, 2009 2:47pm
Hi porkpie
2 point not a very convincing up thrust.
Yes i can see what your saying buyers pushed it up but could'nt hold.
resulting in a very weak long candle.
Will have a look at joe ross TT
Thanks
  • #5,022
  • Nov 10, 2009 11:29am Nov 10, 2009 11:29am
Quoting blackdog
Hi
Is the thread still breathing
The 123 trade below failed. The trend down looked ok
a little bit of support/resistence at 132.50 but otherwise
a nice pin bar at the bottom RSI + stoch both crossed
anyone see it differently or was it just one of those blips
that comes along now and again
anyone like to comment
Thanks
I stumbled upon this thread while looking at my old notes years ago. Though I do not trade the method, I can see clearly the emas on Daily eurjpy crossed up on October 9th closing. If you followed the entry in time, at the opening of October 11th, on M5 chart you would have made an entry worth at least 500 pips. You were late about 4 days, that's the problem. Just wanted to help, nothing else intended. I still think this is a wonderful method to trade.
Best regards,
Lietuve
  • #5,023
  • Nov 11, 2009 4:49am Nov 11, 2009 4:49am
Quoting lietuve
I stumbled upon this thread while looking at my old notes years ago. Though I do not trade the method, I can see clearly the emas on Daily eurjpy crossed up on October 9th closing. If you followed the entry in time, at the opening of October 11th, on M5 chart you would have made an entry worth at least 500 pips. You were late about 4 days, that's the problem. Just wanted to help, nothing else intended. I still think this is a wonderful method to trade.
Best regards,
Lietuve
Hi lieuve
Thanks for replying
I am a bit lost regarding the 500 pips as we only go for harold4xs
amount risked on the 5min chart over 24 hours ie difference between high of 2 and low of 3 + spread + 2 for entry and stop should be no more than 24pips risked so whatever the risk that is the target.
You mention that you do not trade this method but you think it is a wonderful method to trade what made you stop.
Thanks
  • #5,024
  • Nov 12, 2009 5:06pm Nov 12, 2009 5:06pm
Quoting blackdog
Hi lieuve
Thanks for replying
I am a bit lost regarding the 500 pips as we only go for harold4xs
amount risked on the 5min chart over 24 hours ie difference between high of 2 and low of 3 + spread + 2 for entry and stop should be no more than 24pips risked so whatever the risk that is the target.
You mention that you do not trade this method but you think it is a wonderful method to trade what made you stop.
Thanks
500 pips I estimated looking at the daily charts, when emas "recrossed". I never traded this metod 'cause I do not trade MAs crosses of any kind (they are killers during ranges). I think it is a good method while trend lasts on a bigger t/f. At the end of the trend of course you are going to loose, but then it is time to get out, anyways.
Good luck.
Lietuve
  • #5,025
  • Nov 26, 2009 12:31pm Nov 26, 2009 12:31pm
harold, have a great thanksgiving, it's good to see you posting.
Hej.
  • #5,026
  • Nov 26, 2009 12:41pm Nov 26, 2009 12:41pm
hey stitch my old friend you to have a blessed thanksgiving
  • #5,027
  • Nov 27, 2009 1:56am Nov 27, 2009 1:56am
Quoting harold4x
i have recieved an overwelming response for personal training with my new method got room for 11 more people so pm me if you are interested in making money in forex
Hi Harold,
Hope all is well at your end.
Tried private messaging you regarding your offer above but could not do so as your contact info was not available, unless I have done something wrong and am not aware of it.
Just to let you know I am interested and would appreciate it if you give me some more info please.
Would you please be kind enough as to private message me more info, or else send me a message where we can discuss further. I use Skype, MSN and Yahoo if you would like to talk on any messenger, and details will be furnished upon request.
Thanks.
Best Regards,
DrFeelgood
  • #5,028
  • Nov 27, 2009 4:09pm Nov 27, 2009 4:09pm
hello harold

how are u and family?
nice hearing from you
have a wonderful day

mike
  • #5,029
  • Dec 4, 2009 6:26pm Dec 4, 2009 6:26pm
I really hate to see this happening to this thread, even though is has be more or less inactive for quite some time.

When harold had the chat room open he taught people a great deal about reading and understanding charts. I have traded for more than a few years; stocks-bonds-options and futures and I don't recall ever running into anyone who could read charts as quickly and accurately as harold.

Regardless of what eventually happens to this thread, harold is a true gentleman and consumate professional and I, for one, will not miss him; I intend to keep in touch no matter what.

I find no fault in harold's wanting to recoup a little for his teaching. in my opinion, if anyone deserves it, it's him. That said, it is FF's place and they call the shots here.

And that's all I have to say about that. Bob
Hej.
  • #5,030
  • Jan 4, 2010 2:34pm Jan 4, 2010 2:34pm
Its january and am setting up teaching schedules there is room for 12 more this month i am also managing accts if interested send me a pm
  • #5,031
  • Jan 5, 2010 11:11am Jan 5, 2010 11:11am
Hi Harold,

I can't seem to PM you...PM me with your email addy or if there's another way to contact you.

Many thanks...
  • #5,032
  • Jan 5, 2010 7:10pm Jan 5, 2010 7:10pm
well cant recieve pm so email me at [email protected] if interested in mentoring or managed accts
  • #5,033
  • Feb 5, 2010 8:17pm Feb 5, 2010 8:17pm
harold or anybody else who are using this method

is that all their is to this or am i missing something

1. look at the close of the daily bar for trend long/short if long

2. go to the 5min tf and a 123 set up

3. 00gmt to 1400gmt

4. 5ema to cross 8ema

5. rsi is above 50 for long

how is this still performing for the people trading this?

Quoting harold4x
to avoid repete questions to new comers i will post the entire method here. for those who want to continue to trade the original mint trade thats on post 1 this method in my opinion and experience does better than that one. the key to trading is to have a well thought out plan which includes entry exit stoploss and target areas. next you must have a money management in place because we are trading to MAKE MONEY. thirdly we must have a logical mental psycology in place also. with that said here is THE METHOD:
i trade the gbpusd,eurusd and the eurjpy...
p.s. am joining this thread
"The person who knows that enough is enough, will always have enough". .
  • #5,034
  • Edited 10:19am Apr 14, 2010 9:59am | Edited 10:19am
The EUR/USD daily has the 5ema close crossed above the 8ema open (both pointed up, although direction not important?) and the rsi pointed up (required?) and above the 50, so was looking for downward movements in the 5m chart (see attachment).

Based on my analysis, there was actually two 1-2-3 setups, however the first one (as marked in red) was a failed setup since the stochastics was above 80, but then the second setup came around in blue, and this one I believe had a valid entry.

So I presume it's ok to take a position during the middle of a candle rather than waiting for it to close? If so, would you place the order for 1 pip higher than swing 2? If so, I'd need to adjust both of my swing 2 dashed lines up by 1 pip in the future.

Another area that I'm still wrapping my head around is your 24 pip rule surrounding 1 pip for stop, 1 pip for entry and X pip for spread (in my case 2 for the EUR/USD). So that's 4 pips subtracted from 24 which means I can target at "most" 20 pips worth of profit? If this is the case, then if we applied this to the attachment, my maximum target would have been 1.3644?

Thanks for the answers guys!

[EDIT]: Regarding the 24 pip rule questions, I did a bit more research and this is my understanding as of now, please correct me if I'm wrong.
Highest Price Target For Long Position = Entry + (Swing2High - Swing3Low) + 1 + 1 + Spread
Lowest Stop For Long Position = Entry - 24 pips

In the below example with the blue 1-2-3 setup, our Swing2High was 1.3624, our Swing3Low was 1.3593 and our Entry was 1.3625, so our highest price target would have been 1.3660 with a lowest stop of 1.3601, correct? What aspects influence your discretionary profit taking short of the target?
Attached Image (click to enlarge)
Click to Enlarge Name: 2010-04-14-TOS_CHARTS.png Size: 115 KB
  • #5,035
  • Apr 14, 2010 5:53pm Apr 14, 2010 5:53pm
Having read the entirety of this thread finally, my post from this morning directly above has some mistakes I believe I now recognize. Namely, the second 1-2-3 that I pointed out above doesn't actually look like a valid one since the swing 3 is lower than swing 2, so there should have been no trade (correct me if I'm mistaken).

[EDIT]: Another thing I noticed about the second invalid 1-2-3 setup I originally posted was that the space between swing 2 and swing 3 exceeded the maximum distance of 24 - 2 - 2 for spread = 20 pips allowed for the 1-2-3. I think these rules are soaking in finally...
  • #5,036
  • Apr 14, 2010 9:42pm Apr 14, 2010 9:42pm
Now that I'm home and the Asian market is hopping, figured I'd take a fresh look with my new found knowledge.

Unless I'm mistaken, all three pairs (EUR/USD, GBP/USD, EUR/JPY) are LONG on the daily when examining yesterday's closed bar. So far none of the pairs have given a 30+ pip drop downward to initiate a 1,2,3 setup. The EUR/JPY came close with a 27 pip drop...
Attached Image (click to enlarge)
Click to Enlarge Name: 2010-04-14-TOS_CHARTS2.png Size: 95 KB
  • #5,037
  • Aug 4, 2011 9:55am Aug 4, 2011 9:55am
Harold ,After determining the daily direction, Do you commence a trade as soon as all 3 line up on the 1 hour, or do you wait till the Poms come on line (I mean the London opening)??Bill.
  • #5,038
  • Last Post: Jul 21, 2014 10:36pm Jul 21, 2014 10:36pm
Quoting blackdog
Hi Is the thread still breathing The 123 trade below failed. The trend down looked ok a little bit of support/resistence at 132.50 but otherwise a nice pin bar at the bottom RSI + stoch both crossed anyone see it differently or was it just one of those blips that comes along now and again anyone like to comment Thanks {image}
Looking at your chart you appear to have taken the "Ross Hook" and missed the 123 and therefore your target was messed up.
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