THE JOY OF CANDLESTICK TRADING - a Learning Experience

[neboxian]

BB starting to flare a little but flat

sarc up
center bb up

price could touch top sarc and walk up to BB
at this point from the low , retrace is 60% of sl target of 108.06
why 108.06? ..strong star pattern and and entry vector was flat to slightly up
will consider moving sl to max star +3
would like to see the 25m chart to keep prespective
need to wait to see how next candle develops and closes

SO-HAW! (sit on hands and wait)

We are waiting for a retrace B4 next entry

[BrianSNJ]

Quick question to all following this thread -

I was using GFT/DealBook 360. I really liked it but they only give you 30 days then it expires, too much trouble. Also, everyone is doing EAs and indicators for MT4.

I have an MT4 demo with StrategyBuilder FX that does not expire but I can only get 1,5,15,30 minute and 1 hour charts. I cannot seem to find a file for MT4 that allows you to change the time frames.

Does anyone have a solution for that? I read this entire thread and have not had success but maybe I missed something.

Also, if MT4 is not a solution, is there any other recommended that cooperates with Tymen's system? How is Oanda? It does not expire, so that would be nice.

Please help me here. I want to be IN TUNE with what is going on here.

Thanks so much. The people in this thread are wonderful.

Brian

[VulcanClassic]

Brian,

Somewhere in this thread I did a post with instructions on how to change MT4 timeframes.

I was using MT4 as well but decided to go with GFT (had to deposit money to keep the charts, but worth it), Dealbook is just more versatile.

Oandas charts suck.

Good luck

[daydreamer65]

Originally Posted by VulcanClassic

Brian,

For all the metatrader users, here is how to get a 20 minute chart:

*The first step can be done in two places. Don't do it first if you use other expert advisors you don't want to affect. If you're doing several pairs doing it first will save time.

1.Go to tools/options/expert advisors. Check 'allow live trading' and clear 'Ask manual confirmation' , check 'allow DLL imports' and clear 'confirm DLL function calls'.

2.Open a chart and select the 5 minute timeframe.

3.Open the navigator, go to scripts and open period converter.

4.On the inputs tab change 'ExtPeriodMultiplier' to 4. If you skipped step 1, it can now be done on the 'common' tab.

5.Now go to 'file/open offline' and choose your chart. Look for it, it will be there. Whichever indicator you're using, make sure visualization is on all timeframes or you won't see it.

It will tick even though it says offline, but there's a catch, you have to keep the 5 minute chart open and you can't change times on either the 5min or the 20min. For one you can change times on, you need to open another chart.

Hopefully that helps and we can all be on time with Tymen.

From earlier on in the thread.

[BrianSNJ]

Originally Posted by daydreamer65

From earlier on in the thread.

OK...now I see how to get a 20min chart...but how do I get a 25, 35, 40, 45, 50 and 55 minute chart?

If I change the multiplier again, the 20 minute chart dies.

PS - Thanks to Vulcan and Day for guiding me.

[VulcanClassic]

Brian,

You could start with a 1 minute chart and multiply it by those timeframes. I think you would have to open a new 1 min chart for each timeframe you want to create.

Thanks Daydreamer for finding that post.

[tymen1]

Originally Posted by BrianSNJ

I am still here Tymen. Just have had serious work and client issues to deal with. Several deadlines needed to be met. I am way behind so I am going to have to catch up, but still loving your system and APPRECIATING your school teaching style. REALLY! I cannot thank you enough! I may be silent but I am here. lol

Thats fine BrianSNJ!

There is a way you can still keep your GFT demo program.

Call Kinetic Securities in Sydney and ask Jay to open a forex account with them. Ask for the demo to be indefinite and he will give it to you.

You can elect to keep your money in the American Morgan Chase bank or the Australian branch.

Kinetic Securities is and introducing broker for GFT ie they are a stock and forex broker. They use the GFT platform.

Tell him that I sent you because I am trying to promote his site.

If you type "Kinetic Securities" into Google you should get it immediately.

It is one of the cleanest websites I have ever seen. Their telephone number is listed, of course.

Hope this helps.

[tymen1]

Thank you Vulcan Classic and Daydreamer65 for your very helpful posts.
It saves me a lot of trouble sorting these things out.

To Daydreamer65 ;

Great to see you on this thread!

Good to know there are two veterans, Daydreamer65 and Tonymand, on this thread to keep me on the straight and narrow!!

[tymen1]

Originally Posted by neboxian

................................but nothing really teaches better than working with real money....

Firstly, welcome to this thread.......and pleased to know that you are getting much out of it.

As a result , I placed two trades With your guidance last week + 15 pip and +35 pip.
Most Importantly , I knew the Why! From The entry to the exit....Thank'ya...thank'ya...thank'ya

You are welcome!!

I hope that your trading will prosper and that your understanding will grow.

There are many more good things to come on this thread.

......and thank you for participating in the current trading exercise!!

[tymen1]

Answer to Stage 5

We note that the Starc is going up.

This means that a retrace is almost always a penetration of the Starc also.

That is what we see now.

You could add your 2nd amount here but it may well be wiser to wait 3 candles because the price action may walk the upper Starc band.

So every one at this time is correct.

Sinn1 has the opportunity of re-entering 2 amounts from scratch!

Everyone else will have their 2nd entries averaged with their 1st entries.

If you are now careful, this will turn out to be a good trade.