Indicators For Scalping, please post here

[Winner]

Tymen,

I just went back to your older post, and the image with the 20 minute chart has disappeared. i guess there are gremlins at work!

[tymen1]

To Winner :

Ah ha. I know what has happened. The images on Image Shack are somehow tied to this forum. If you delete the images from Image Shack , they disappear form your post!

Sorry, I have just learnt this now.

I have stored the Images on My Pictures so I will simply reload them, then doctor the posts if necessary.

Please wait, I will fix it all up.

Regards, Tymen Wortel, Perth, Western Australia.

[daydreamer65]

Hi tymen1

For any image to be seen on the internet it has to be loaded
onto a webpage, this is what you are doing at image shack,
so if you delete the image from the webpage it's disappears
everywhere that you have placed that link.

tied to this forum

Also the term is "linked" to this forum, that's how this smilie
appears.


PS By the way great thread.

[tymen1]

To Iinzall, Winner, Yolybear, Daydreamer65 and all others viewing this thread :

My candlesticks Episode 1 and 2 are now fully restored complete with commentary.

Hope you all enjoy viewing it as much as I enjoyed trading it.

Thank you Daydreamer65 for you input on the links. And again, I like your closing captions.

I think I will be posting more of these trades, but on a new thread I have yet to name.

If anyone has questions about the trade, feel free to ask - I am now finally ready.

Kind Regards, Tymen Wortel, Perth, Western Australia.

[Winner]

Hi Tymen,

Your posts just keep on getting better. Keep up the good work.
You said that your primary Bollinger setting is standard. Are you using a 10 day period for your central moving average as recommended by John Bollinger for short term trading? Where did you do most of your learning for Bollingers? Was it a book or a website? I do not understand the purpose of the additional Bollinger bands on the 1 minute chart.

Regards

[tymen1]

To Winner :

Thanks for your encouragement !!

The Bolinger band settings are .........periods - 20
.........Standard deviation - 2.0

These are the common settings.

I have the book.......Bolinger on Bolinger Bands by John Bolinger. (not cheap).


The purpose of the additional BB on the 1 min chart is to try to detect extemes.
If we have a price that goes right thro the BB and even the 2.8 BB and, at the same time the MACD is turning around (we look carefully for that and make sure we see the turn)...........then we can be pretty sure we have an extreme point.

I hope to be able to illustrate this concept in more candlestick chart postings I am planning.

Hope this helps.

Kind Regards, Tymen Wortel, Perth, Western Australia.

[yolybear]

I went looking for a candlestick formation. I Looked at the daily chart of EUR/ USD Yesterday (Aug 30) and saw a bullish engulfing candle and a forming morning star. Theses were in the center of the The Bollinger Bands ...BUT I went in anyway. It worked. I got my target of 26 pips. WEEEE.... gonna try it again on Monday

[tymen1]

To Yolybear :

I like your name!

Good on you Yolybear!

But be careful!

It is dangerous trading when the pattern is just anywhere. It is then possible for the trade to go the opposite way to a huge extent with little chance of recovery.
If the trade goes against you then you will need a staged entry.

Once you have a pattern, wait for the next candle and then switch to a 1 min chart with BB and MACD to get the best and safest entry.

[tymen1]

To Yolybear :

There is also very interesting and further relevant candlestick material on the thread...........FREE FOREX TRADING SYSTEMS..."Can anyone help me with a Forex System" by Masterplan.

[yolybear]

Good Advice tymen1.

I was actually thinking the same thing.... "since it is in the middle of the Bollinger Bands it could go down too".....but I had quickly dismissed that thought being blinded by the candle stick formation.

So thanks for pointing that out. I'll be more carefull next time.