THE JOY OF CANDLESTICK TRADING - a Learning Experience

[tymen1]

Now to reply to a private message wherein the sender has blocked the replies, so I post the reply here with part of the message deleted.

Originally Posted by F X

Good day Mr Tymen,

Do you teach your method in any other format live; and have you put this method in a pdf or some other document for learning?
Regards, (F X)

Greetings F X!

If you skip thro to page 115 post #1142 and read from there to page 116 post #1154 you will get the whole of the thread.

In these posts I explain fully my 4 levels of trading from Basic to Advanced and you can pick one of these.

A few posts further on from there you will find a post by the Rumpled One.
He put the 4 levels in PDF format and there is a download hyperlink on his post.
He kindly did it for me because, since I am fairly new to computing, I had no idea how to do it.

Keep reading the rest of the thread but the essentials are in these posts above.

FXCaribbean's posts are important because he has hyperlinks in his posts that lead to all the important concepts explained in my thread.

Then Cordite has made a full copy of the whole thread and you can download a copy from him. Just go to one of FXCaribbean's posts.

Finally, yes, candlesticks are definitely the most reliable way to go.

Regards, Tymen.

[traderG]

Thanks Tymen. Another question, if you don't mind, can I just use the standard Di Napoli MACD for LONG trades, but reverse its direction (if point up, consider it to be down, and vice versa)?

[tymen1]

Originally Posted by traderG

Thanks Tymen. Another question, if you don't mind, can I just use the standard Di Napoli MACD for LONG trades, but reverse its direction (if point up, consider it to be down, and vice versa)?

Of course you can!

But just do not get confused and make a mistake!!

[draco76x]

Hi Tymen,

Just wonder, when you trade, do you read the latest news that affect the world & take into consideration before you made any decision or you just based on the candlesticks chart??

Although you said before that Candlesticks give up to the second information whereas indicators only tell you things upon the close of a bar. Does it means that you just follows the chart by "Reading" the "Minds of the Trader in the world" what are they going to do in the next step??

Rgds

[VulcanClassic]

Originally Posted by draco76x

Hi Tymen,

Just wonder, when you trade, do you read the latest news that affect the world & take into consideration before you made any decision or you just based on the candlesticks chart??

Although you said before that Candlesticks give up to the second information whereas indicators only tell you things upon the close of a bar. Does it means that you just follows the chart by "Reading" the "Minds of the Trader in the world" what are they going to do in the next step??

Rgds

I think I know what he will say, because he's said it before;

He doesn't check the news, news is built into the price action. If anything news gives your set up more power.

[tymen1]

Originally Posted by VulcanClassic

I think I know what he will say, because he's said it before;

He doesn't check the news, news is built into the price action. If anything news gives your set up more power.

Yep!!

You got it!!

[forexlover89]

Thanks tymen I will check those post out.Once again thanks for being such a big help to the babypip community

[condor]

Originally Posted by tymen1

I am sorry but there is a major error here in trading the Starc band.

It involves C and F.

You never use the middle Starc band.

The trades in the Advanced level go from one Starc band extreme to the other.

Tymen,
Thanks for correcting my understanding. I thought that, since the Starc bands were going up, a good re-entry would be after it crosses the middle band. In the chart I posted, the price never goes down to the lower band.

I'm having some success just using Level 2 on the 4 hour charts (the one hour chart I posted is not my main chart). But I'm trying to progress to the higher Levels. Thanks for your help.

[tymen1]

Originally Posted by condor

Tymen,
Thanks for correcting my understanding. I thought that, since the Starc bands were going up, a good re-entry would be after it crosses the middle band. In the chart I posted, the price never goes down to the lower band.

I'm having some success just using Level 2 on the 4 hour charts (the one hour chart I posted is not my main chart). But I'm trying to progress to the higher Levels. Thanks for your help.

You are doing well Condor!!

The choice of a 1 hour Starc chart for a 4 hour main chart is a good one.

The idea of showing the middle Starc band is only to use it a guide for where the price action is.

Now the entries and exits exactly are given according the the key diagram on page 115, post #1147 headed "Common Procedures at all Levels".....Definition : Starc Band Retrace Point.

You may want to print this chart and keep it on hand.

In your 1 hour chart the Starc bands were going up and, therefore, the entry price will never go down so far as to touch the lower Starc but rather come close to it.

This is clearly demonstrated in your chart.

As such, you could have got a better entry and made more pips!!

Soldier on!!

[traderG]

Tymen, can I use the Starc bands instead of the Keltner channels for my initial entry? thanks again