I am wondering about longer time periods… I know it has been talked about in the past. But I am wondering why some people are staying away from them?
Is it because that there is not enough ‘action’ happening and you are losing patience? I am curious because I really do not have time in my life to check charts when I am at work, but am greatly intrigued with Candlestick Trading now.
I am going to assume it works just fine… but I just want to make sure!
Thanks
Well ; Tymen , Got my first sucessfull trade this morning on eur/jpy off 15 min. chart. I was a little nervous new system and all jumped out early got 7 pips. Thanks again Ken , PS. Hope your feeling better… Take care of yourself.
Concept; May not be my place to answer and maybe others will confrm. But most patterns and entry signals are stronger at higher time frames ( less random noise) But I think most trader don’t have the patient to wait for them. So trade lower. Plus you would have to adjust PIP taking for the higher time Tymen takes 10 pips… But higher you may want to look at pip taking near center Bollinger band. Key is near targets are always a area…Just my two cents worth…
Tymen ; I looked over the thread again but saw no mention. I was wondering how you manage your search for entry patterns. That many time frames and pairs. I have a 40" LCD tv I use for a monitor but still don’t think I could tile that many charts… Just wondering, I am very excited about this style trading I have only looked at price action trading since I started my Forex adventure… I learned a long time ago on different types of work. It is best to get it straight from the source and use your own skills ( which must be learned ) to make you descisions . Thanks as always , Ken
First off, I use to trade stocks, but have now moved over to Forex since it is exciting compared to stocks and easier to follow a smaller number of currencies than checking on 200+ stocks each morning and deciding what I would trade. My trading setup at the moment, is 4 19" monitors and then my laptop beside me, this allows for my charts to be on the 4 monitors and then I use my laptop to execute all of the trades and do my research. To clarify, my laptop has a 19" monitor hooked up to it since I hate looking at a small screen. This may help you , but if not maybe it will give you an idea of a trading setup.
Sure beats my apple II:D
Kool.
Takes me back. Remember the Commodore 64 with those click buttons?
Hello there, I am back but by no means well. As you get older, fighting off an illness becomes steadily more difficult.
However, I shall perservere.
Firstly, please note that Kinetic Securities is located in Sydney, Australia. I am told that if you open a live account with GFT, then they give you the demo indefinitely.
With Kinetic, just say to Jay that you will open with him instead if he gives you the demo indefinitely regardless. Kinetic is a new and very progressive company and they have a policy of giving you just that little bit better service. I sure he will give you an indefinite demo for starters and you will be able to do long practice that way.
The passwords are different from the 2 companies. Pick the correct one. Also, if you trade with Kinetic, it may be wise to download the platform from their website there may be small differences in updates.
Thanks Mike ; I am going to check into a different Video card . See howmnay outputs You cna get or install mulitple cards. Boy reminds of where we cane from in the computor world… My first exprience was with punch cards in middle school actually punched cards they took away and ran through a computor. My stepfather worked for Honeywell and had one of the frist portable computors , fullsize suitcase lokked like a typewriter with screen and a telephone cradle modem… Boy sure don’t wish for the old days when it comes to computors… Hope Tymen is feeling better… again thanks for the reply… Ken
Well Hello, Glad to see you back quess you popped in while I was struggling typing… Glad to see you… Ken
[B]To Vulcan Classic[/B] : no worries about the change in topic - we need the information!
[B]To mytwopips[/B] :
I like your excellent high quality picture. Your apple will never crash !!
[B]To bigmike [/B]:
Welcome to the forum and this thread. You certainly come in to trading in a big way !
With that much watching power, you won’t miss a thing !!
[B]To pipwrangler[/B] : Than you for the post about IBFX 
[B]To concept [/B]:
Higher time frames will give you less patterns (less frequency) but they travel further ie you get more pips out of each trade. You can also lose ever so much more in your stop loss 
The patterns on higher time frames are significantly more reliable. But we compensate for that by trading only on the BB. That should return the edge back to the shorter time frames.
[B]To KENNETH LEE [/B]:
Great to see you got your first trade with success !!!
But 15 minutes is a little short - you are dipping into the noise bands.
I would suggest a minimum of 20 minutes.
Now for the setting out of the charts, see next post.
To Yuv and Vulcan Classic :
To get more charts on GFT, you simply right click the icon/tab /“workspace” at the bottom and then click “add workspace” or “clone workspace”
In this way, you can get as many charts as you like.
I was more wondering if I can use BB and a higher time frame say 1 hour or even 4 hours w/ KC and whatnot… I have a bit of patience thats why I am asking
Here is my set-up of the charts. I use a very high resolution 22" LCD monitor.
Notes below >>>
By tymen1 at 2008-04-14
I trade the time frames 20,25,30,35min…55min,1hour for the 4 majors.
So I have 2 tabs or “workspaces” for [U]each [/U]currency. One tab shows 4 charts - 20,25,30,35 mins.
The 2nd tab shows the remaining 5 timeframes.
[B]The picture shows the latter 5 timeframes of USD/CHF. (swissy).[/B]
If you look carefully, you can see all the tabs in a row right at the bottom of the charts.
In addition I have the 5 and 10 min time frames. I set the choice of currency pair on these when I need them.
Now, with the GFT program, each one of these charts is fully independent of the other.
Each chart has its own timeframe, its own display type, its own currency choice, its own grid settings, its own indicators and settings, its own chart parameters (size, background, positions etc, etc ), its own time scale (GMT, local etc with daylight saving setting), its own print options …etc, etc.
Each chart can be maximized to fill the whole screen or minimized again with one mouse click (standard Windows operation).
Entries, exits, stop losses etc set on one chart for one currency are shown on [U]all [/U]the charts for that currency automatically.
The only drawback is in the initial setting up of the charts. Because each one is independent of the other, you have to do heaps and heaps of mouse clicking to set them all up!! But once done, all is good. When closing the program, you click “yes” to “save current layout” and next time you open the program, its all there !!!
I like this program.
So with all these charts, I can be Mr Vigilant.
If you see a pattern forming on a particular time frame, the you can compare this pattern on the adjacent time frames to see if the pattern forms better on another time frame.
Clicking quickly from tab to tab allows viewing of trading on all the major currencies. One only needs to see if something is hitting the Bolinger bands.
Thank You Tymen : Yes i will setup mine Like that , Maybe once you have one chart setup and used the clone option you can just change time frame and save to cut down on extra mouse clicks… Ken
Absoutely !
But make sure that you also allocate the correct currency pair to each tab/workspace.
Nothing to stop you !
Go ahead. Let us know how you get on. 
Very keen to know !
For a 1 hour chart, use a 10 min KC chart instead of a 5 min.
For 4 hour, I suggest a 45/60 min KC chart for a best entry.
[B]As I am still unwell, I will make only one post for today - but hopefully a good one.[/B]
In the picture below, I have tried to show the [U]perfect evening star pattern.[/U]
Notes below the drawing >>>
By tymen1 at 2008-04-15
The [B]first candle [/B]is green and rises from a string of rising green candles as though one was climbing a hill. This 1st candle does [U]not [/U]come near the [U]middle [/U]BB, but is some distance from it - [U]this is absolutely important.[/U]The 1st green candle of the evening star sets the benchmark as it goes thro the [U]upper [/U]BB - or at least comes near.
The [B]next candle [/B]forms the star, it is a very [U]small [/U]bodied candle and it can even be a doji. Having the highest point, it definitely goes thro the BB.
The longer the upper wick, the further distance to the stop loss (lose more).
The lower wick does [U]not [/U]go past the halfway mark of the 1st candle.
This halfway mark is shown by the pink line.
The [B]3rd candle [/B]is red. It continues from where the 2nd candle left off but then goes down. Ideally, the lowest point is [U]below [/U]the pink halfway line.
The higher into the BB the set up is, the better.
Of course, there are variations but the picture is an ideal and this is what we should be looking for.
Tymen,
Since candlesticks show trader emotion - sentiment, do you find them equally valid on each timeframe?
It seems to me for a pattern on any particular timeframe to work, the majority would need to be trading it.
Curious
