can you show me how? what tricks are you talking about?
Graviton.Which pairs had you have the most success with in the long run?
thank you.
Yes, where are you? Aussie time? London time?
For London trading only, use 15 pip stops and 30 pip TP’s from entries. a new lot is thrown on every 15 pips, and a tp is hit every 30 pips profit (but still 15 pips apart) as explained in my 5 lot system post. For London + NY session, use 20 pip increments, for after NY session, and before London open, use 12 pip increments.
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I’m not sure what platform you use, but these are called conditional orders. say for a rising market you will use, buy stops to enter, so it will buy at a preset point. You can then set stop loss and tp to engage if and only if the conditional buy is executed.
Typically, you can type your platform name, like Onada and conditional orders, into u tube and there is already a video there showing you just how to do it.
Majors most. Comdolls second most, popular crosses, third most. Most success on 30 min and greater TF’s.
Reread my post on 5 lot system. You will see it is just a ladder of entries with sl and take profit orders every 15 pips. The only trick is you skip the first tp to move the sl to be. Study it, think about it, draw a picture of it if need be, and then you’ll see what I mean.
Hunting for an MT4 script to do this now.
If I can find one, will be a happy man indeed.
This capability may be built into MT4. Type MT4 conditional orders into u tube and see if it doesn’t come up.
Can’t access youtube from work unfortunatly, as it’s a restricted site. I have found an EA that automatically moves trades to BE, but I would still need to enter each of the 5 lots individually.
When I get home I’ll have a hunt on youtube for an MT4 vid. As you say, there may very well be this option built into the system.
Fingers crossed, as less trade management means less susceptability to getting an itchy trigger finger, which could lead me to closing the trade early.
Yes, you can definitely enter a number of buy stop or sell stop orders with their own SL and TP values (in MT4).
An EA script will do the same thing - but it’s not really worth it seeing as it’s so simple to set up a number of orders and let them run while you are away.
I may work on an EA to do this in my spare time, but it will have to be a low priority task I’m afraid.
The important point is to make sure all conditional orders are cleared out of your account after the trade is over. Otherwise, you can wake up and be many pips down when you didn’t even intend to trade. If you have problems with this, call your broker customer service and tell them you want to speak to the MT4 guru about conditional orders.
Happy Trading
Until I test out some things, look for BB DNA enrties in 30M, 1H and 4H TF’s to get more trades. 15M usually just doesn’t trend long enough. Also add more pairs to your scan, like 12 or 14. There is a shortcut method that I use during the week while I’m trading and don’t have time to do detailed analysis on the fly. If the angle of the mid BB above and below the TF I am trading in is in the dirrection of my trade, I’ll take a BB DNA trade. It’s really fast. Not quite as accurate, but good enough if you do the detailed analysis each weekend. Try it in demo.
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If you are willing to accept a few more stopouts, I can show you how to get lots more trades. It’s something you could try in demo I suppose. I’m uncomfortable with it though as it isn’t as well tested as the other things we’ve discussed.
Aye, setting up multi lots manually is easy enough. I think I’ll be happy to do things this way for a long while anyway.
What I’ve done is download the sound of an old WWII air raid siren in .wav format. I have this coupled to an alert this is triggered whenever the PA hits a TP or SL. It means I can be away from the computer, but hear that an event has occured that needs my attention.
Don’t code an EA to trade multi lots on my behalf Ironheart. If I can find one pre-programmed online somewhere I’ll use it, but if not it really won’t be a problem. 
Great! Can you explain this to RenaLA when she comes back in. It was her request that started us looking for this.
There are many shortcuts that yield more trades, but all at the cost of more stopouts. Another shortcut to MTFTT is to only check the timeframe above the TF you are taking the BB DNA entry in and clear the entry if and only if the mid BB is headed in the direction of your trade. That’s about as short as it can get. You’ll get a few more stopouts, but many more trades.
If you want still more trades, I can’t advise this because I’m still testing it myself in a separate demo, but you can demo test it. Just go back to Tymen’s simple entry method. that is, after the extreme candle penetrates the BB, take entry on the first candle closing that pulls free from the BB. You’ll get eaten alive on this though if you don’t at least require the mid BB trend on the TF above to be in the direction of the trade.
DO NOT LIVE TRADE ANY OF THESE SHORTCUTS WITHOUT DEMO TRADING THEM FOR A LONG PERIOD OF TIME FIRST.
You will get more stopouts. I can promise that.
Graviton, One question I want to ask. In reading your analysis of charts from monthly on down and deciding to make an entry…what I don’t quite have yet is how you come to pick a certain timeframe to make your entry. On one you said to wait for a bounce of the lower BB of the 5M. Another watch the 15M for an entry. Another was 1H. Is there a way to explain how you choose which time frame to base your entry on? Is this something that comes with lots of expeirence and can’t be explained. Are the sceneros so varied and different that there are no hard and fast rules?
Generally, the BB DNA should only be used on 30M time frames and above. You need to have a long enough time frame for a good trend to make it worth trading. But, in my system, we look at trend strength also.
In the most extreme case, every trend is in one direction, as every trend on usdjpy was up. Every time I’ve ever seen this happen, the pair moved up. I’m sure there are exceptions, but it’s a very high probability long trade. I made 60 pips on it right after the open. This being the case, I called it an enter on any retracement trade.
Next down the trend ranking list was the GBPUSD, which looked very strong, just not quite as strong as the usdjpy. I said it needed a M5 retracement. Now I don’t trade M5, but It was so strong that any retracements were likely to be short lived, so if you had to wait for a longer TF for entry, you would probably not get into the trade at all. I took the trade right after the open and made 40 pips.
For the others, I waited for better entries, some I got, and some never offered me an entry. So the answer is yes, the more you use this system, the easier it is to say what kind of retracement you want for entry. To start though, only take 30 minute TF or better BB DNA entries. Those will offer the best trends to follow.
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