Trading with mp6140

[wasp]

You keep saying we must be using the wrong ones but I used the one YOU posted in your thread mate

 

[mp6140]

You keep saying we must be using the wrong ones but I used the one YOU posted in your thread mate

===================================================

WHERE have i ever stated that i am not a normal idiot like others ??

mp

 

[mp6140]

what timeframes are you using that is repainting ?

tu

mp

 

[wasp]

what timeframes are you using that is repainting ?

tu

mp

It was on the hourly I posted this afternoon.

 

[mp6140]

It was on the hourly I posted this afternoon.

=============================================================

wasp, i havent a clue --- in the enclosed chart (30 min eurusd) please note the green line which is upper channel -- notice the price has very definitely moved past that top channel line and not moved the line itself

while this is a 30 min, i checked the one hour and its identical

please open the indicater specs and tell me what values are in the "inputs" tab.

mine are 1440 and 0 (zero)

tnx

mp

 

[trendie]

re: are you using "SHI_CHANNELS_REAL" ??

I am using SHI_channels_true.mq4; it must be the same thing, as it was from an earlier post.

http://www.trade2win.com/boards/421345-post127.html

note: I am keeping the settings as default.
Do I need to reset any values. also, you can get different channels, both directional and width by changing settings.

are the above files the correct ones, and the settings kept as default.

the repainting is a function of how the code reads the price, not the users interpretation of it.
so, at any point, repaint will take place.

I like the channels, because I find the extrapolation comforting (this might be a bad thing), and want to learn more.
But you need to acknowledge that repainting occurs, (if it didnt you would get one channel pointing in one direction forever), its really about what triggers the change in channel direction.
(actually, if you knew that, you wouldnt need the channels, but thats by the by)

Being pedantic I would take issue with history is not important, as someone, somewhere, had to go through many iterations (and accounts) before deciding on optimum settings.

I am happy to be told to bog off, and I will revert to just reading this thread, but learning new stuff means asking silly questions.

(non-trading day for me. good week, so just coasting into afternoon)

 

[firewalker99]

As mp has been so "kind" to provide *cough* "comments" in my thread, I think it's only fair I do the same for him. I haven't posted in this thread before, because I haven't spotted it (despite what anyone else might claim) and because I'm usually not interested in threads trying to convince other people that their system is the only one or the best. But as mp6140 can't help himself to continuously refer to his "magical" system lately, I've realized I had to come and see what all the talk was about.

I could start by easily showing that channels are omnipresent, not because price creates channels but because a trader likes to see patterns. This isn't to say that patterns can't or won't work, but price does not react to a line because a trader has drawn it there. A correct channel is composed of two lines, parallel to each other, one being the demand line, the other the supply line. mp6140 might give them a different name, but there's nothing exotic nor esoteric about them.

But the channel makes support and resistance points? Or is this thought wrong?

The purpose of demand and supply lines is to gauge the momentum and strength of a move. Traders might use them to pin-point entries and exits, but that's not their main purpose. On the attached chart you'll see that price finds support and resistance at the horizontal lines, or the more important "value areas" where price traded frequently or where swing points are to be found. If you observe closely you'll see that price often breaks higher, than retraces to these lines. These points may coincide with whatever diagonal line a trader has drawn, but that doesn't mean that they provide S/R.

I have looked at them in the past. Then i realised price action on a chart doesn't BO of a channel, or even into one, it just heads for another favourable pre-determined price.

So, Paul71, channels do exits obviously, so do wedges, cup and handles, flags, etc. The question is does one correctly know what they represent or does one give them some magical meaning?

channels are nothing more than two parallel (theres also a middle one that is VERY strong intraday resistance) trend lines, with a little magic of their own.

The first part of your sentence is correct, the second one is another pair of shoes.

...long ago i learned that things exist because they are valid, it just depends on whether theyre valid for me or not, and you should adopt that thought process i would imagine !

That's correct, if they work for you that's fine. But they don't have any more magical meaning and any other line drawn on a chart by a trader.

 

[Paul71]

Mp. You would impress the hell out of me if you drew a channel where there was no price (to the right of price, the void) and then kept updating us with the same TF chart as we all watched the price move exactly through the channel that you had previously drawn, yes.

Other wise it's all just hindsight, and about as much use as a raincoat on a dolphin.

Can you do it, can you draw the future? (and keep all the squiggley lines off, my eyes hurt)

 

[trendie]

Mp. You would impress the hell out of me if you drew a channel where there was no price (to the right of price, the void) and then kept updating us with the same TF chart as we all watched the price move exactly through the channel that you had previously drawn, yes.

Other wise it's all just hindsight, and about as much use as a raincoat on a dolphin.

Can you do it, can you draw the future? (and keep all the squiggley lines off, my eyes hurt)

Paul71,

wasp and myself have shown yesterday that the channels get redrawn, with screen-shots showing the channels redraw, so the projections can and do switch direction. (but I was using default settings)

and hey! dont knock squigglies.

 

[Paul71]

FW.

They may represent the timing factor of exchanges of contracts between institutions, maybe. Do you use them?

 

[firewalker99]

Other wise it's all just hindsight, and about as much use as a raincoat on a dolphin.

Can you do it, can you draw the future? (and keep all the squiggley lines off, my eyes hurt)

Let's see if he who talks the talk, can walk the walk :cheesy:

Btw, in a sense one could argue that horizontal "ranges" are just a channel too. It all depends on your definition and perception.

Paul71,
wasp and myself have shown yesterday that the channels get redrawn, with screen-shots showing the channels redraw, so the projections can and do switch direction. (but I was using default settings)
.

you mean like in, AFTER, price violated one of those lines?

 

[Paul71]

Paul71,

wasp and myself have shown yesterday that the channels get redrawn, with screen-shots showing the channels redraw, so the projections can and do switch direction. (but I was using default settings)

and hey! dont knock squigglies.

Hey hey hey)) All i'm saying is, squiggles and diagonal lines are not the real issue. Where can i find out how to draw diagonal lines on the DOM?

 

[firewalker99]

FW.
They may represent the timing factor of exchanges of contracts between institutions, maybe. Do you use them?

The moon cycles may represent the timing factor of exchanges of contracts between institutions, maybe.
Do you use them?

 

[Splitlink]

Mp,

Once you start "fixing" lines and projecting them into the future, they are no longer LRCs Where do you stop projecting them and redrawing new ones?

This is not the first time I have used these channels---most chart data services have them, which proves that they are nothing new. I saw the problem, then, but I got interested in your theory and gave them another try. When I try them, though, I am only using them as a possible entry point. They do show that a share is overbought, or oversold, which is a useful signal in itself, but I use other things, too. I think that we all use a combination of various ideas put forward on these boards and from books.

Split

 

[Paul71]

Let's see if he who talks the talk, can walk the walk :cheesy:


Ooooh!:cheesy:Art of war.

First i'll have to way your minimum 2 car entry method up mate. See if your posting contract profits on postive trades, and only pip amounts on negatives.:cheesy:

 

[firewalker99]

OR, with NO stoploss, you could watch the dials on the depth guage revolve lower and lower, light up your cuban cigar and wait contentedly because WHAT GOES DOWN ALWAYS COMES UP ! Knowing this you could average down, once or many times, and when the day ends you have tripled what would have been your billion dollar gain, your Mafia supported boss is beaming, and you are awarded the title of "consigliatorei" with all the rights and rewards that go with it !

THATS why i dont use STOPLOSSES !

Above is another great piece of advice by our fellow trader mp6140.
"What goes down, always comes up".
"Average down all you like, the market will come back at you."



Tell me, how long did those who went long in October 1929 to make a profit?
30 years my friend, THIRTY YEARS!!

Chart: Dow Jones Industrial Average (1900 - Present Monthly) - StockCharts.com

"Wall Street’s graveyards are filled with men who were right too soon." - William Hamilton

 

[mp6140]

re: are you using "SHI_CHANNELS_REAL" ??

I am using SHI_channels_true.mq4; it must be the same thing, as it was from an earlier post.

http://www.trade2win.com/boards/421345-post127.html

note: I am keeping the settings as default.
Do I need to reset any values. also, you can get different channels, both directional and width by changing settings.

are the above files the correct ones, and the settings kept as default.

the repainting is a function of how the code reads the price, not the users interpretation of it.
so, at any point, repaint will take place.

I like the channels, because I find the extrapolation comforting (this might be a bad thing), and want to learn more.
But you need to acknowledge that repainting occurs, (if it didnt you would get one channel pointing in one direction forever), its really about what triggers the change in channel direction.
(actually, if you knew that, you wouldnt need the channels, but thats by the by)

Being pedantic I would take issue with history is not important, as someone, somewhere, had to go through many iterations (and accounts) before deciding on optimum settings.

I am happy to be told to bog off, and I will revert to just reading this thread, but learning new stuff means asking silly questions.

(non-trading day for me. good week, so just coasting into afternoon)

===========================================================

absolutely not interested in you "Bogging off" of which I need no UK to USA translation --

there are very interesting ways in which the channels (by using multiple channels) points out the direction price is going in.

I have appts today with some clients and may not be back by the time the earth has rotated enough to cast sleep time on the UK, but i have a complete set of lessons for the REAL use of the LRC (as opposed to "casual" use) and would be more than happy to give them to you for a read this weekend if possible --- just no real time avail this second !

as far as repainting, take a look at the attached chart, using two channels which shows the progress of the price within its major trend. In this case, what was to be a normal drop in the main channel turned out to be a retrace with a breakout from the secondary channel. Repainting very much happens on the second channel, but requires a significant movement on the DAILY channel to change things --- on a one minute channel, there will obviously be rapid changes, which preclude even bothering with the channel except for research, but as you get further out, naturally there is less change.

Now with MOVING CHANNELS, one is using the lines as HISTORIC highs or lows, and should the price change, as you put forth, the channel will change also reflecting that new price --- i can understand wanting historic reference, although i dont use it at all, only the present, but one system i have does that and one doesnt --- when im back we can talk if you aint out like a light,
but have to run

enjoy and trade well

mp

 

[mp6140]

Mp,

Once you start "fixing" lines and projecting them into the future, they are no longer LRCs Where do you stop projecting them and redrawing new ones?

This is not the first time I have used these channels---most chart data services have them, which proves that they are nothing new. I saw the problem, then, but I got interested in your theory and gave them another try. When I try them, though, I am only using them as a possible entry point. They do show that a share is overbought, or oversold, which is a useful signal in itself, but I use other things, too. I think that we all use a combination of various ideas put forward on these boards and from books.

Split

=============================================================

to be honest split, i only use them to tell me trend, what the price is doing WITHIN the trend, and its "probable" entry or exit point --- for EXACT points i use the s+r overlays, which ive found to be spot on.

simply watching my price rising (or dropping) and APPROACHING the channel advises me to start becomeing busy figuring exits.

and while i regularly trade during the day using the LRC for exit prices, is really ONLY AN INDICATOR OF TOPS AND BOTTOMS ==== A ROAD MAP so to speak, and not an exit point originator, ALTHOUGH it works well at that also ! Just not the way i use them.

dont attach more importance to them then the ROAD MAP, trend directing, early warning and exit point functions that they perform !

mp

 

[mp6140]

since im off to see the wizards, ill send this out to everyone else i havent posted to this am

welcome fireguy --- once you get past your dislike, we may have some interesting things to say here
but one that comes to mind is i dont PUSH my ideas (its not a system per se, just things i use while trading) and have ALWAYS asked to people to just LOOK AND SEE IF IT WORKS FOR YOU ! and thats the sum total of it all.

for everyone else, im more than happy to explain, have got a lesson from 7 years ago already sitting and waiting to be posted, and have every intention of doing so (ok, so im paving the way to hell)

welcome fireguy and hope you brought everyone so we can all start singing "the boys are back in town !"

talk on youse when i get back

mp

 

[firewalker99]

to be honest split, i only use them to tell me trend, what the price is doing WITHIN the trend, and its "probable" entry or exit point --- for EXACT points i use the s+r overlays, which ive found to be spot on.

In other words, you're repeating what I said in post #127!!

dont attach more importance to them then the ROAD MAP, trend directing, early warning and exit point functions that they perform !

mp

More of what I said earlier on! Are you copying me?

Next time you go of accusing someone, think what the odds are that two people on a trading forum with almost 100,000 members might have a similar approach. I definitely don't have such a colorful chart as yours, but some of the concepts you describe strike me similar as mine.