THE JOY OF CANDLESTICK TRADING - a Learning Experience

[VulcanClassic]

Tymen,

I've been away due to work and such, didn't get to my screen all last week. Seems like longer than that.

I just got caught up on the thread, good job!!

Very interesting addition to the stategy, is this also known as scaling in?

Looking forward to trying it.

[kelvin]

Hi there Tymen,
Thank you so much for sharing your trading strategies. Your teaching methods are phenomenal. I have been experimenting with different systems and indicators for a while now but candlestick trading has the best approach IMO. I've always had better trades when reading candlesticks but never stuck to it coz' i had that believe that indicators provided a more robust system. It's thanks to you that i now have the confidence to adopt this method. Thank's for teaching us all and i can't wait for you to start on other reversal patterns like the dark cloud covers and etc...

Kelvin

[bernbeach]

Thanks Tymen for your time & effort with the daily, 4hr & 1hr EURUSD candlestick charts. I will continue experimenting and keep you posted. I look forward to the following approaches with doji etc...

[watteau]

what do flat BB lines tell you? What does one flat and one curved indicate?

[Bill Clinton]

First of all, I just want to thank you Tymen for the great thread you have started and the wealth of information you're sharing with us! I do have a few questions for you if you wouldn't mind answering.

I've been using GFT's Dealbook 360 per your recommendation and I was wondering what are your settings for the MACD, Bollinger Band and the Keltner Channel?

I currently have the MACD set to:
Price: Close
First Period: 12.00
Second Period: 26.00
Signal Period: 9.00

The Bollinger Band setting is:
Price: Close
Period: 20.00
Deviations: 2.00
Displacement: 0.00

Keltner Channel is set to:
Period: 5.00
Factor: 1.00

I'm using the M25 and M5 charts as well. Are there anything I should change in regard to the settings and the time frame for the charts? Thank you again Tymen!

Cheers,
Bill Clinton

[keitsuke]

Tymen, this has to be one of the most detailed tutorials I've ever seen. The amount of effort you put into this thread must have been enormous.

Thank you for the step by step lessons you provided for us newbies, and I look forward to learning more from you in this thread in the future.

Cheers.

[bernbeach]

Hello Tymen,
I found this thread from Hussin Jaji/Iran on:
Have a close look at it. You may like it as an additional approach?
A geat week-end and best... from Bern
I will be out of station till june 9th: trip to Thailand, Italy

[greywolf238]

Originally Posted by Bill Clinton

First of all, I just want to thank you Tymen for the great thread you have started and the wealth of information you're sharing with us! I do have a few questions for you if you wouldn't mind answering.

I've been using GFT's Dealbook 360 per your recommendation and I was wondering what are your settings for the MACD, Bollinger Band and the Keltner Channel?

I currently have the MACD set to:
Price: Close
First Period: 12.00
Second Period: 26.00
Signal Period: 9.00

The Bollinger Band setting is:
Price: Close
Period: 20.00
Deviations: 2.00
Displacement: 0.00

Keltner Channel is set to:
Period: 5.00
Factor: 1.00

I'm using the M25 and M5 charts as well. Are there anything I should change in regard to the settings and the time frame for the charts? Thank you again Tymen!

Cheers,
Bill Clinton

Bill
If you look at page 35 post 76 from tymen1, the settings are posted there.

[tymen1]

Welcome to Term 2 of this thread :
THE JOY OF CANDLESTICK TRADING - a Learning Experience

I really needed the break and now it is time to restart.

This term will see improved charts with the explanations.

Further work on establising the risk/reward ratio will be undertaken with a view to setting this finally in concrete.
To enable this we will look more closely at money management strategies especially when trades go wrong.
A general all encompassing strategy will be developed to allow trading under all conditions with a favourable outcome.

Once these matters are settled we will then look at other candlestick patterns and transfer our new knowledge to trading them successfully.

[tymen1]

First, all the posts since last term need to be answered:

To Yuv, Kelvin, Keitsuke, VulcanClassic and Bernbeach I say thank you indeed for the wonderful compliments. You do encourage me to keep going.