Hi Toka
UM is only part of my trading 
very reliable but not enough action for me
I agree, you have to be patient:(
I have no experience other than UM(studied threads 1 and 2 start to finish…twice) and worked through ALL the examples published.
I’m at the stage where I can comfortably trade on a practice account. I’ll go live when I have the funds:D
Have you gone live with this yet?
ps USD/JPY TF 20 min 14:40
would you have traded this evening star when the 3rd candle in the pattern has such a long wick?
hi Toka
Yes I would trade that pattern subject to 5 min chart.
Yes I do trade this system live, but only as part of what I trade. I have been full time trader for over 5 years now
5 years…respect!
If I stick to UM 100% without ever deviating, I have never lost a trade. Have you found this?
It is difficult to be that patient so I (like many others I suspect) find myself in trades which are marginal at best but not BAD trades tho.
I have not had a losing live trade with this method. the losers that I did have when learning were my error. However I only take the very best patterns and even then not all of them depending on other trades at the time
best regards
Dave
ok, if we both rarely lose a trade with this method(Tymen also found this to be true), should the usual money management rules apply?
I’m talking about never risking more than approx 5% ish of you bankroll.
Is ok to risk more?
My thoughts are, that if you rarely lose and have sensible stops, then why not risk more?
I’d love to know what an experienced trader thinks here.
Just because the system works well does not mean that you should adjust mm. No system is perfect and no trader is perfect. Discipline, patience correct mm plus compounding will get you where you want to be. There are no short cuts that I am aware of. imho 5% is to much risk, 1-2% would be max I would be comfortable with
best regards
Dave
ok, thanks for your input.
Always nice to know what an experienced trader thinks.
Its been a week and my laptop is still not fixed and i am out of action, unable to see charts :mad: However, I am happy to see some very useful discussions going on with some lively charts. We had several trades that posted when i took screen shot right when the pattern formed which means you will get an idea of how the bollinger bands looked on the main chart at that time when patterns formed. When i see a pattern on the main chart, i look at the bbs. If they are nicely turned in our favor or atleast flat, i switch to 5m and enter again looking at the bbs to be in favor (An Ideal trade). A risky trade is one when the pattern formed on the bbs of the main chart and the bbs are not flat or in our favor (grey area trade). Once i see a grey area trade, i again switch to 5m to look for the entry. Please note, an ideal trade or grey area trade is both decided only on the main chart and once we switch to 5m there are no ideal/grey area entries !!! What I mean to say is that on 5m there has to be an ABSOLUTE AGREEMENT irrespective of what has happened on the main chart (either text book or grey area on mains). I humbly encourage you to go back to JoCT2 to see the patterns as most of the trades i took the screen shots right when the pattern formed on the main chart so you get to know how the bbs looked.
Hope it helps !
Regards,
Muthu.
Chennai.
India.
Look for Text Book Trades if you are a beginner
Cheers Muthusai
Helpful as always.
Are you trading live yet? If I remember correctly you were saving up in order to start?
Hi,
No not yet there my friend. I lost 2k dollars before going back to demo trading. I am willing to take my time. Besides I am saving money to make a decent equity to restart as well. Hope you guys have profitable trading using this method.
Regards,
Muthu.
Hi Muthu
for sure pips to be made thanks to Tymen and yourself
best regards
Dave
Hi,
Like everybody in this thread, i am a just a contributor and the only difference is that i started bit earlier. It is Just Tymen who gets all credit. I hope we can get more confident of this method by trading and posting charts. Best wishes !
Regards,
Muthu.
hi
your chart postings and sound knowledge of the method has helped to keep many on track and understand better. Your willingness to help and answer questions is much apprieciated
Dave
does any one knows how i can get the starc bands?
Hi ruilima
the starc code is at the end of the pdf
best regards
Dave
but is in pdf.
how can i copy past a pdf?
Hi
copy and paste the code to notebook. full instructions are in appendix C. also a video
best rgards
Dave
Most Welcome and thank you too for guiding and helping people over here.
Regards,
Muthu.
ok. i got it.
but how can i change the factor to 1 and to 0.75??