THE JOY OF CANDLESTICK TRADING - a Learning Experience

[tymen1]

Thank you SimplexX!!

I copy/pasted your 2 formulas on the one file(page) so it is continuous - I trust that is correct - It loaded successfully.

I have been helping a family in crisis with no money today.
Then straight after I went to a funeral.
So now I am a little tired.

I will test your indicator very carefully tomorrow and take notes.
Then I shall post feedback.

I take this opportunity now to welcome King and Pips4breakfast to this thread.
I trust that both of you will enjoy the improved levels to come and make many pips in doing so.

Please be aware that FX Caribbean has set up the UMS and UML threads for posting charts and questions about individual trades.
Many posters, including myself, visit those threads, regularly.

That then leaves this thread clear for teaching purposes.

[VulcanClassic]

Hi Tymen,

Interesting to see how you have evolved this system over the course of the thread, tweaking and improving in a logical manner.

With KC gone, does this mean that MACD is gone as well?

[tymen1]

Originally Posted by VulcanClassic

With KC gone, does this mean that MACD is gone as well?

Greetings Vulcan.

No news from Mytwopips yet.

Ah!! Yes, I forgot about that!

Yes, the MACD's are gone too!!
Yep - another simplification.

[VulcanClassic]

Ok, more room on my screen for candles.

Yeah, I don't think we'll be hearing from MyTwoPips for a while. Too bad. I hear Galveston was smashed which isn't too far from him.

[kjcallaway2]

I have only been 4Xing for a couple of months and just this week recently converted from back to candlesticks from indicators.

I have been "scalping" using candlesticks on both 15 & 5 minute charts and have had a good success rate.

But my question is if scalping for smaller pips (< 10) and not going for the big pips should I still wait for a bollinger band expansion (trumpet as I have seen it described)?
The reason I ask is because bollinger bands are good in detecting larger breakouts and my targets are frequent/smaller gains.

Please advise.

[VulcanClassic]

Originally Posted by kjcallaway2

I have only been 4Xing for a couple of months and just this week recently converted from back to candlesticks from indicators.

I have been "scalping" using candlesticks on both 15 & 5 minute charts and have had a good success rate.

But my question is if scalping for smaller pips (< 10) and not going for the big pips should I still wait for a bollinger band expansion (trumpet as I have seen it described)?
The reason I ask is because bollinger bands are good in detecting larger breakouts and my targets are frequent/smaller gains.

Please advise.

What has been described is to actually avoid trumpeting BB. The move is done, or you've missed the beginning of it anyway (BB lagging), but candlesticks would get you into that trade before it trumpets. The use of the BB here is to trade away from a relatively level BB (non trumpet)

Perhaps three red or green might be more appropriate for a trumpeting BB (see what Tymen says).

[TheRumpledOne]

Originally Posted by tymen1

Thank you Akeakamai and SimplexX for supporting me.

I do get the distinct impression that The Rumpled Ones's strategy, as well as showing signs of being incomplete, is specially geared towards trading only with MB Trading and no other broker.

And MB Trading is the broker he is advertising.

I personally do not care which broker you use for candlesticks - it is your business!!

I am NOT ADVERTISING.

I am EDUCATING.

There's a difference.

THERE IS NO FIXED SPREAD IN FOREX. You should know that by now Tymen and you should be teaching that.

Deal with FIXED SPREAD BROKERS is giving your money away.

Yes, I use MB TRADING. Yes, I am an IB. But I am an IB because I told so many people about EFX Group they offered it to me as a THANK YOU. That's the facts.

But I say you should use an ECN broker. I don't say you should use MB TRADING.

So, Tymen, don't spread false rumors about what I am doing and why I am doing it.

All you have to do is READ MY THREAD. NEVER LOSE AGAIN!!
. and you'll see all the people making pips.

My strategy is NOT incomplete. You don't know it so you shouldn't judge it. I know one thing, my strategy is easier to learn and execute than yours and probably more flexible and profitable, too.

Let the readers decide, Tymen.

[ravel96]

Originally Posted by TheRumpledOne

Let the readers decide, Tymen.

There should be no question that Tymen's trading strategy as detailed in this thread is an actual concrete strategy with concise details, one that has been carefully thought through, one that is explained very well and in clear terms, and one that yields proven results for traders that are willing to take the time to study it. This thread is one of those that I always feel comfortable recommending to people.

[The-Mez]

Hi all,

I just wanted to say how impressed I am with this thread and with the hard work Tymen has put in with his detailed explanations, exercises and answering questions.

I believe that candlesticks are the only way to go. I have tried experimenting with indicators but in the end they don't compare with candlesticks.

Although I am only on page 40 of the posts on this thread I know I have a long way to go but am looking forward to catching up and using this system!

Thanks,
Alan

[tymen1]

Originally Posted by kjcallaway2

I have only been 4Xing for a couple of months and just this week recently converted from back to candlesticks from indicators.

I have been "scalping" using candlesticks on both 15 & 5 minute charts and have had a good success rate.

But my question is if scalping for smaller pips (< 10) and not going for the big pips should I still wait for a bollinger band expansion (trumpet as I have seen it described)?
The reason I ask is because bollinger bands are good in detecting larger breakouts and my targets are frequent/smaller gains.

Please advise.

Great to have you here Kjcallaway2.

VulcanClassic is correct in saying that avoidance of BB expansion is needed when trading patterns from the BB.(Bollinger band)
These patterns include Dark Cloud, Piercing pattern, Evening and Morning star, long and short Engulfing.

However, if you do want to trade on a BB breakout, then I suggerst using the 3 green soldiers or 3 red crows (they were black ).

You can trade these two patterns from anywhere and should give you good success, especially if the BB is rising or falling rapidly.