[B]Ray_1[/B]
You have impeccable timing in posting your chart… I am just configuring one in Metatrader and I can compare to yours…
Thanks!
Welcome to this thread [B]Blaiserboy [/B]. Trust you will gain much benefit from it.
Thank you also for your kind compliment in your visitor message.
Yes , the two MACD’S are a fixture now.
They are used for the Keltner entries on the 5 minute charts as explained in the early parts of this thread.
The green MACD is used for entries going long (up).
The red MACD is used for entries going short (down).
Therefore, only one MACD is used on an entry. The one that is used depends on which way we are trading and that depends on what candlestick pattern we trade.
The MACD that is not used for the trade entry, should be minimized so that maximum room is available for the rest of the chart.
[B]Time for next chart.[/B]
And, at last, something happens!!
Pips first or retrace ??
Lets see >>>
By tymen1 at 2008-07-26
Ahhhhhhhh!
This could be confusing. 
So lets go through it [U]carefully[/U].
The price action has started to move. But which way?
It is going long! Hey, thats what we want!
Yes, so its a [U]pips first[/U] trade.
[U]This means we have to add a 2nd amount and shift the stop loss.[/U]
So here we go…
[U]We look at the price action at 5 pip intervals :[/U]
The price rises to 99 (103.99).
This is 5 pips higher.
So we add a 2nd amount.
At the same time, the stop loss is doubled (we are now trading 2 amounts) and reset to 94.
The stop loss was at 84.
So we have jumped 10 pips with the stop loss.
Hereafter, the stop loss is only shifted 5 pips at a time.
The price action now goes to 04 (104.04)
This is 5 pips higher.
We shift the double stop loss by 5 pips to 99
The price action now goes to 09 (104.09)
This is 5 pips higher.
We shift the double stop loss by 5 pips to 04
So far, so good.
As you can see, the stop loss keeps pace with the price action and is always 5 pips behind.
I have put blue numbers next to the operations on the chart in order to show the steps.
If the price action [U]went down again [/U]after [U]step 2[/U], then the 1st amount, entered at 94, having gone up to 99, would [U]break even [/U]at the stop loss of 94 (step 2)
The 2nd amount, entered at 99, would drop to 94, exit, and give a [U]loss [/U]of 5 pips.
[U]All other steps give a profit.[/U]
[B]Wait for the next exciting chart tomorrow!![/B] 
[B]FXCaribbean’s Avatar
FXCaribbean[/B]
I greatly appreciate your efforts to maintain that summary. I am sure that many people including me have found it to be most helpful…
Thanks again!!!
The [U]standard MACD is the red one[/U].
This has values :
short = 8.39
long = 17.52
signal deleted.
These values are in correct order.
The [U]inverted MACD is green[/U].
this has values :
short = 17.52
long = 8.39
signal deleted.
These values are clearly, inverted.
On your chart the [U]top MACD [/U]is the standard MACD and should be [U]red[/U].
As I said earlier, the red MACD is for short trading (corresponds with red candles - going down).
and
the green MACD is for long trading (corresponds with green candles - going up)
Hope this helps.
Thanks for the clarification… yes, that helps.
as simple as it seems I did not grasp… lol
Thanks again.!
I really like the sliding stop loss. Lock in a few pips and allows us to go after greater targets with less stress. Thanks for all the work …
Hi tymen1,
Thanks for browsing my chart. You really taught us a lot on trading.
Blaiserboy, hope we can learn great trading skills together with tymen1 and be profitable in our trading.
That is quite tool…!
I am just working to make an entry and using it…
Most helpful…!
Thanks for developing and posting it…
dave
I have learned a ton from him already and have yet to complete reading the thread the first time…! and I aint new to trading and charts… lol
His is the most in depth presentation of a concept that I have seen… and so well documented are the lessons…
I am , needless to say, very pleased top be working with this thread…
I learned how to get different time frames in metatrader… but the method is a bit wonky, I am not so sure I will do that… best to use another software methinks… not sure at this point.
Have fun today.!!
dave
One thing I wish to confirm…
I can watch a 240 minute chart, locate one of the four patterns thereon and make an entry from the 5 minute.
The reason I am asking… seems to be such a difference in those chart times…
Please clarify.
Thanks
dave
Thanks.
Reading your latest post, I have to warn you that the #811 post is a summary of [B]UMS[/B] method !
Tymen is now explaining the [B]UML[/B] method ! As soon as a summary will be necessary for it, i’ll make it if someone else don’t do. Until then i think we’re all religiously reading his post…
FXCaribbean
"Don’t go where there is a path. Open a new one and leave a trail".
If you want to understand what we’re talking about here (UMS) then read this
Ok I’ll try to answer to that one, please correct me if i’m wrong.
We’re all looking for GOOD pattern that is reliable pattern. Remember that if you have good quality pattern you will have all the method working just well. We’re here to win PIPS !
So, looking at various timeframe help you distinguish good pattern. You can have 2 red candle on a 20mn chart and they become only one on a 40mn chart…so your hunt maybe more successful at that time. As a reverse, a larger timeframe may not show any pattern while the smaller one will be behind a tree…
So the only idea is to hunt…then why not hunting from everywhere. BUT, whatever main timeframe you use, you then go to the 5mn one to trade…
FXCaribbean
"Don’t go where there is a path. Open a new one and leave a trail".
If you want to understand what we’re talking about here (UMS) then read this
I think you are the acknowledged expert in gathering and documenting the relevant features of the system, hopefully you have the time to continue with the summaries… they are really valuable to many people…
Thanls again.!
I opened charts for four pairs and a few different time frames for pattern searching, then I started to wonder if the higher time frames would be too much
Thanks for your reply
dave
This is a 30 minute chart of AUDUSD.
Please review it as a signal…
Would it be acceptable…?
Thanks
dave
Question re Bollinger Bands
On one of the prior posts (#372) is a chart showing two evening stars, the best pattern being when the Bollinger band is flat…
Is it so that the Band has to be flat for all patterns that we will use…?
Flat seems to be emphasized strongly for the evening star… and will that apply to others as well…
Thanks
dave
(I hope my questions are not too many or inconsequential)
To [B]FXCaribbean [/B]:
Thank you so much for replying to some of Blaiserboy’s questions.
Questions take more of my time an labour to answer properly.
You have no idea how much stess is on me to produce this thread.
But then, teaching is always stressful!
By answering the questions yourself, you are also helping yourself to learn more, because the questions make you think.
To Kenneth Lee :
I really like the sliding stop loss
I am glad you like it!!
Watch for the next chart in the present example trade!! 
To Ray 1 :
Go for it!!
Soldier on!! 
To Blaiserboy :
Vector Map
That is quite tool…!
Glad you like it. In about 50% of trades, it will give you a much better entry than just the open.
I learned how to get different time frames in metatrader… but the method is a bit wonky, I am not so sure I will do that… best to use another software methinks… not sure at this point.
I can strongly recommend Kinetic Securities of Sydney, Australia.
They use the GFT platform which is what I use and recommend.
You get the demo for as long as you want. (though sooner or later, you should open a live account.)
Your money is deposited in the Morgan Chase bank nearest to you.
(not in Australia unless you live there like I do).
You can google Kinetic Securities as follows :
“http://www.kineticsecurities.com.au/frontend/display”
That is the exact website but “www. kineticsecurities.com.au” will do.
Ask to speak to Jay Pace and tell him that Tymen sent you. (I get NO commissions for this!!)
The service is excellent.
There was a time when brokers were an issue on this thread.
I know that Vulcan Classic had a lot of issues with MT4 and he switched to the GFT platform.
Then several other posters followed.
Their work became much easier after that.
I can watch a 240 minute chart, locate one of the four patterns thereon and make an entry from the 5 minute.
The reason I am asking… seems to be such a difference in those chart times…
Please clarify.
Although you can use a 5 minute chart for a 4 hour timeframe, it is better to use a 1 hour Keltner and Starc chart to keep the proportions more accurate when jumping to so much longer timeframes.
The indicator parameters are still exactly the same as before.
…then I started to wonder if the higher time frames would be too much
You will find that as you go on in this thread, and make use of the UM, that you will not only find frequent trading patterns, but that the patterns will make at least as many pips, if not more, than the long term trading patterns.
You will make your money so much quicker than long term trading.
This will put great envy into all those indicator traders who are using their favourite indicators on daily charts!!
I will answer your last questions on a new post.