THE JOY OF CANDLESTICK TRADING - a Learning Experience

[forexlover89]

Originally Posted by FXCaribbean

Hi,

Check that link. It may help you.

Thanks for your reply although that's not what I was asking about. I've been with GFT over a year, love them for a broker and for there charts i was asking about level # 4 of trading that's what i don't quite understand where to get in where to get out and do you just use the 5 min TF or do you use a main chart still. Once again thanks for your help

[condor]

Originally Posted by forexlover89

level # 4 of trading that's what i don't quite understand where to get in where to get out and do you just use the 5 min TF or do you use a main chart still.

Here is an example, to see if I understand it. It is a 1 hour chart, since my main chart is a 4 hour chart. BB are red and the Starc bands are blue.

A - initial entry
B - exit when crosses upper Starc band
C - re-enter when crosses middle Starc band
D - exit when crosses upper Starc Band
E - re-enter when crosses middle Starc Band
F - exit when crosses upper Starc Band

You refer back to the main chart only to see if you have gone too far from the initial pattern (about 7 candles).

[forexlover89]

Thanks condor thanks actually help out alot but where does you KC come into place?

[condor]

forexlover, You should read the thread in order to understand the 4 Levels that Tymen posted. There is a Word .doc file of the thread created by Cordite. It's much easier to read. The first 18 pages, or so, discuss entries using KC.

The link I put here to the .doc file was delete. I'm not sure why. Maybe someone else knows the post that mentioned this link.

[damo989]

Thanks Tymen for your awesome system can't wait to try it out when Kinetic set up my account.

[FXCaribbean]

Originally Posted by condor

forexlover, You should read the thread in order to understand the 4 Levels that Tymen posted. There is a Word .doc file of the thread created by Cordite. It's much easier to read. The first 18 pages, or so, discuss entries using KC.

The link I put here to the .doc file was delete. I'm not sure why. Maybe someone else knows the post that mentioned this link.

I second that. BTW, go to that link and click on the first link in the "Interesting Links" section. Then, follow the instruction (= wait )

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 and set your screen and computer that way. Also read the live thread, UML Live and UMS Live

[traderG]

The way I understand it, the maximum risk for the basic and intermediate level will be the pip distance from the entry price and the PCI, since there is no other stop loss in between like the -2n for the very short term, and the -10 pips for the advanced, should the trade goes the wrong way, right?

[cordite]

Can I just get a confirmation on something?

At the advanced level, we are no longer locking in/protecting profits with multiple lots?

I've been using multiple lots still, but if others find there is no need I'll abandon them too...

Cord

[tymen1]

Greetings!

I am back again after a week's rest.

Needed it!!

It is now very late Sunday night here so I am going to bed.

All posts with questions will be answered tomorrow.
I see that there are quite a few of them.

At this point I am just letting everyone know of my concern for VulcanClassic who is on the Cayman Islands right near the path of hurricane (cyclone) Ike.

There appears to be a real queue of these things out there in the Caribbean.

VulcanClassic tells me that the cyclones are moving in abnormal fashion by going too far south.

[VulcanClassic]

Originally Posted by cordite

Can I just get a confirmation on something?

At the advanced level, we are no longer locking in/protecting profits with multiple lots?

I've been using multiple lots still, but if others find there is no need I'll abandon them too...

Cord

I don't know about anyone else, but I like the multiple lots idea.

At this point I am just letting everyone know of my concern for VulcanClassic who is on the Cayman Islands right near the path of hurricane (cyclone) Ike.

Thanks Tymen for the concern. I think we'll probably be ok with this one, but Cuba is going to get hammered. It's a CAT4 right now I believe, just coming up on them now. I'm sure the Gulf Coast is watching this one very closely as well.

Gonna be a busy season!