Adventures in candlestick trading

Beginner Questions
21

Hi,

Tyman and Kockneereble tnx for your comments.

I thought that it will be obvious that the horse is already before the cart :wink:
the question is if all the straps are connected and we can goā€¦

maybe I should have put it in a different way.

When I said ā€œlet say I wanna trade Bullishā€ I actually meant ā€œlets say we have a bullish reversal patternā€¦let say morning Doj startā€.
Bullish patterns always end with a green candle, so sometimes when u move to the 5m chart, u see that the starc bands are level, and the price is on the upper side or even on the upper starc band. in this case we should wait 'till the price will go down to the lower band. now, let say it was like we wanted and the price went down. but because the price went down and the starc bands were level before that, now the starc bands started going down as well. so now the starc bands are against usā€¦
in these cases iā€™m confused.

regards
Ilan

22

OK, I understand what you mean nowā€¦:slight_smile:

ā€¦ so sometimes when u move to the 5m chart, u see that the starc bands are level, and the price is on the upper side or even on the upper starc band.

Yes, this can happenā€¦at this point you would consider any trade at all to be a level starc band trade.

ā€¦ in this case we should wait 'till the price will go down to the lower band.

Exactly correct. :slight_smile:

now, let say ā€¦the price went down. but because the price went down and the starc bands were level before that, now the starc bands started going down as well. so now the starc bands are against usā€¦

That is correct.
They will be against you.

[B]The answer is that unless the Starc bands go up again, or at least level, there is NO TRADE!![/B]

But in price action all sorts of things happen.
And a lot of the time all you have to do is [U]wait[/U]!!
As you wait, amazing things happen!!
The Starc bands end up going level and lo, the price action is on the bottom Starc band - like magic!!

in these cases iā€™m confused.

[B]In these cases, WAIT[/B]!!

If the Starc/mid BB return to go up or at least level after waiting, [U]you have a trade!![/U]

If they do not, then there is [U]no trade[/U], [U]regardless of how nice the pattern looks on the main chart!![/U]

How long do you wait?
[B]Answer [/B]- You can wait for up to 3/4 candles on the main chart.
If nothing happens after that, then NO TRADE.

23

Thank you Tymen, I try to explain as best I can but defer to you as the great Teacher

24

Tymen tnx very much for the help.
and to kockneerbele too.

25

Main Chart

803Ɨ509

26

5m Entry/Exit

27

Main Chart - After Exit

Regards,
Muthu.
Chennai.
India.

803Ɨ509

28

Hi I made some pips here, but iā€™m really not sure about my entries and exit.
the first entry was as fast as i saw it (i missed 1 minute). but the second entry although I made pips i think maybe I shouldnā€™t have entered another entry there because it was far away from the mid starc.
i was like, ā€œmy god what did i ā€¦yessssā€
then the exit I actually panicked coz it started going down, so i exited.

u can se the 45m and 5 m charts. there r from different soft wares. the 45m chart times r GMT, and the 5m chart times are Beijing times (8 hours ahead) so pls donā€™t be confused.

bulish trade 5 m EURJPY 11.11.jpg700Ɨ512 70.8 KB

bulish trade 45 m EURJPY 11.11.jpg700Ɨ420 46.2 KB

29

Hi Muthu,

how do u upload the images?

tnx
ilan

30

Hi,
I use photobucket. Its simple and easy. Refer page 51 of JoCT Part 2 thread. Tymen has shown it how to do it step by step.
http://forums.babypips.com/newbie-island/19339-joy-candlestick-trading-part-2-a-51.html

He also started a thread about how to do it in ā€œNewbie Islandā€.

Good luck !

Muthu.

31

tnx muthu.

32

Here is the thread explaining how to put charts/pictures on the forumā€¦

Click on the hyperlinkā€¦

http://forums.babypips.com/newbie-island/30564-how-post-charts-forum-upgraded.html

33

tnx tymen Iā€™ll use it next time.

34

828Ɨ509

35

5m Entry/Exit

828Ɨ509

36

Main Chart - After Exit

Regards,
Muthu.
Chennai.
India.

828Ɨ509

37

Welcome :slight_smile:

38

Hi everyone here! :smiley:

oh, its in page 4 already.

have to review back, along with the old thread :wink:

39

Hi,

I have a problem with dealbook and Iā€™m wondering if someone had this proble before, and what was the solution.

the problem is that the chart is not refreshing it self, means that i donā€™t sea the price moving. I need to refresh it manually by clicking F5. also when i change the time frame to Tick it refreshes it self, but when i go back to the previous TF
it stops refreshing again.
I already sent an email to the support but no reply yet.

regards
ilan

40

It happens to me a lot live and certainly is annoying. One thing that can solve such freezing is to empty the Storage folder located within your Dealbook360 folder in program files.

If that doesnā€™t work also re-install the program.

This has worked for me temporarily and certainly is a good option to solve the problem.

Hope that helps. :wink: