THE JOY OF CANDLESTICK TRADING - a Learning Experience

[Blaiserboy]

Now I know why you like your software....LOL

[Ray_1]

I have setup DealBook 360 and setup the keltner bands and starc bands charts.

This is the 5 mins keltner charts for entering short with evening star pattern.
This is the 5 mins keltner chart for entering long with engulfing pattern.

Tymen1, I like to know how you observe the different time frames in DealBook 360? in addition, how do you do it for different currencies, I find that by putting so many timeframes it will be too small to see?

[Blaiserboy]

Ray

I set mine up today.......placed 8 small screens on one monitor and the 5 minute on another monitor......

After I had made the first workspace for one currency , I 'cloned' that workspace to make a new one.. and then just had to change the name of the pair in each chart.

If you do not have enuf screen space, perhaps you could make the small charts in one workspace and then put the entry chart or 5 minute for each pair into another. so that you can pull up whatever when you need it...

It took me quite a few hours today to set up 6 currency pairs, at one point I had to uninstall and reinstall as I had made some big errors...lolol

The layout that I have now shows the patterns clearly and it takes only a couple minutes to scan six pairs...

Hopefully that is some help


dave

[tymen1]

To Ray_1 and Blaiserboy

This matter requires a comprehensive answer and I will give you guidance.
Although Blaiserboy seems to have the solution to it already.

Firstly, go to page 31 of this thread for a fair amount of detail on setting up Dealbook. Here several posters pioneered the setting up and VulcanClassic discovered that the program eventually quits after 84 charts are loaded!

Next, I give you the following hyperlink that is a set of tuition videos for Dealbook :

http://www.gftforex.com/temp/videoju...eojukebox.html

Now my own personal take :

I trade the 4 majors plus 2 pairs useful in my time zone. (AUD/USD + AUD/JPY). That is 6 pairs.

I trade the timeframes 20, 25, 30, 35 mins............1 hour.
That is 9 timeframes.

In addition, I have 6 charts of 5 minute KC . (one for each pair).
In addition, I have 6 charts of 5 minute Starc band . (one for each pair).
That is 12 short term charts.


How do I do all this?

Simple - clone your workspaces, like Blaiserboy did and then edit them - that is, label them. (all right click work with the mouse).

I have one workspace for the 5 minute Keltner charts.
I have one workspace for the 5 minute Starc bands.

For each of the majors, I have 2 workspaces - A and B (8 workspaces altogether).
For the useful pairs I have 1 workspace each (2 workspaces total).

That is a total of 12 workspaces altogether.

Setting out on the workspaces :

Now I have all 6 charts of 5 minute KC (one for each pair), on the 5 minute Keltner workspace (6 small charts - 6 pairs)
and I have all 6 charts of 5 minute Starc band . (one for each pair), on the 5 minute Starc workspace (6 small charts - 6 pairs).

As I said, my majors get 2 workspaces each : (8 workspaces total)

Workspace A gets 4 timeframes. (4 small charts).
Workspace B gets the 5 remaining timeframes. (5 small charts).

As I said, my useful pairs get one workspace each and on that workspace are 4 charts each. (4 small charts).

majors charts...... = 36
5 min charts.........= 12
useful pairs charts = 8

Grand totals :

charts........ = 56
pairs.......... = 6
timeframes.. = 9
workspaces. = 12

I have found this setting out to be ideal.

More in the next post.

[FXCaribbean]

To Blaiserboy and Ray


Don't forget that tymen is using a 22 inches screen ...... like i do now (just bought )

IMHO it is the minimum if one want to radar all those charts. If you decide to trade only 1 or 2 currency pairs then this size is quite useless.

To tymen1

Just wanted to tell you that i received and read yet half of Nison book. Thanks for the advise, there is so much to learn from that one. He really learn you to "feel" the candle.



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

[tymen1]

Yes, FXCaribbean these large screens are nice.

I am just suspicious right now because my internet lights in the tray menu are on continuously even though I am just on the desktop.

Though I have antispyware, there is something funny going on.

A large number of bytes are either leaving or entering my computer against my will.

I do not know what to do about it.

[FXCaribbean]

Originally Posted by tymen1

Yes, FXCaribbean these large screens are nice.

I am just suspicious right now because my internet lights in the tray menu are on continuously even though I am just on the desktop.

Though I have antispyware, there is something funny going on.

A large number of bytes are either leaving or entering my computer against my will.

I do not know what to do about it.

Even if you're on your desktop, your DealBook still work. Then it download all the data. More charts = more data = more (traffic)lights.

You can also have Vista which now check for so many things to update. Even my (new) screen driver (HP w2207h) is checking everything.

And i don't talk about the antivirus that can update its internal list automatically....

We're fortunate not to have to pay for the size of data. It used to be but hopefully this doesn't exist anymore....for our developed country. There are still countries that are spoiled by those big (international) internet company that still sell issue depending on data size..... Unreal nowadays !

[tymen1]

I will now finish my posts to Blaiserboy and Ray_1

Have a look at this Dealbook workspace >>>


By tymen1 at 2008-08-01


In this first picture you can see all my workspaces below. There are 12 of them.

The picture shows one chart downloaded on the 5 minute Keltner workspace.
This chart has been fully prepared when maximized with all necessary indicators, that is BB and Keltner and MACD.

You right click this chart to give the list shown.
Now right click the "copy form" tab.


Now look at this next picture >>>


By tymen1 at 2008-08-01

Here we move the mouse to a vacant area.
Right click again and we get the list again.
Now right click "paste form"


This next picture shows the result >>>


By tymen1 at 2008-08-01

You end up getting a new chart which is the exact copy of the first.
The indicators and anything else in the original is also on the copy.
This makes our work easy.

The new chart usually appears completely on top of the original and so you do not see it.
Use your mouse to separate the two.

By using the paste function 5 times you can fill your screen with 6 charts.

The next job it to set the correct currency pair for each one.
All else is already done.

Next post.

[tymen1]

On this picture you see my complete 5 minute Keltner chart setup.
This occupies my first workspace >>>


By tymen1 at 2008-08-01


The next picture shows my workspace B of EUR/USD.
There are 5 charts shown.


By tymen1 at 2008-08-01


To get a full sized chart you simply click the Windows maximize icon at the right hand top of your chosen chart.
To minimize - same standard Windows operation.

Finally :

To have this arrangement you will need 2GB of RAM memory or better.

If you do not have this then you can buy extra RAM cards from your local computer supplier or let them set it up for you.

The beauty of the Dealbook program is that it does not use that horrible Java program language.
Instead it has something to do with 32 bit Windows. (sorry I am not an IT expert)
The result of this is that you can run Dealbook on a dial-up connection of only 46kb/second.
Try that with any Java based broker program - no chance!!
This means that you have a very stable program in Dealbook, that is almost self correcting if anything goes wrong!

OK, I finish here, hope this helps.

I would ask FXCaribbean to index these particular posts because they may help other dealbook posters in future.

[tymen1]

Now to go on to that engulfing pattern trade!!

We had just finished a pips first trade with 45 pips gained.

So now we look at the retraces on the next 5 minute Starc band chart which explains itself >>>


By tymen1 at 2008-07-24

The end of the pips first trade is shown on the left and now we look for a retrace point from which to go long.

This means we look at the lower Starc band.
The Starc is going level at this time, therefore a retrace will occur near or on the lower Starc.
We have favour in finding such a point at price 14.
It is shown in blue.
At this point we enter with 2 amounts.

With the Starc bands level, we look for an exit near or at the upper Starc, and again we find favour with an exit touching the upper at price 32.
This is shown in red.

The black type shows the profit........32 pips!!

Add that to the previous and we get 77 pips.

OK, we did not take spreads into account and the fact that the trader will not necessarilly get the exact tops.

So lets drop the profit to, say, 60 pips.

That is still excellent for such a short period of work.

The next chart will show further retraces to complete the trade.