5m Entry/Exit
Main Chart - After Exit
A kind of trade which when attempted may never reach the mid bb. So, it was an early exit. Take the money and run to the Hills as they say !!!
Regards,
Muthu.
Chennai.
India.
Lets have a look few minutes after our exit. Note the way bollinger bands have fooled us and the last two green candles. Hence patterns like these needs to be handled with care.
Regards,
Muthu.
Chennai.
India.
Main Chart
The star is green but the body of the star is big. The third candle’s body in the pattern barely reaches 50% mark of the first candle. Hence a doubtful starter.
Muthu,
Lots of your set ups have the BBs leaning the wrong way. Most seem to have turned out ok.
Is this just the least important rule you like to bend?
Regaurds
Simon
Hi Simon,
As per text book. The bbs must be flat or turning in the direction of our trade to be an excellent setup. If i wait for a setup on an absolute flat bb, as flat as a line drawn with a ruler, i think i will have to wait for a looong time before i get a single trade. Your Quote “Lots of your set ups have the BBs leaning the wrong way” surprises me a bit. Can you elaborate further ? BBs shape is very vital here and i have skipped many setups on bbs which were sharply pointing in the opposite direction of our trade. If i take a doubtful starter, i mention them as grey area trade along with the reasons. The last trade can also be taken as a grey area because the mid bb on the main chart was just starting to straighten out (and not already a straight one) when the pattern was thrown at us.
Regards,
Muthu.
Chennai.
India.
I notice your good trades usually gather around 8 to 15 pips, while this failed trade was about -20 pips. How are you doing overall with this strategy? If you were trading live would you be in profit? About how many pips per week do you gain?
Tymen’s PDF says to get out when the Starcs move against you, but many of your trades do not follow this step and end up profitable anyway. This one however, did not, and ended in a big loss. Because of this, it is important to note your success rate with these type of trades.
These are the important questions for any newbies interested in following in your footsteps 
Lets have a look at AU1H. The patterns that formed on the lower bbs were good enough to trade. However, we had to skip them as the position of the bbs were not that great (both midd bb and especially the lower bb).
PS. Both patterns did give us profits however, it is not advisable to take them.
Regards,
Muthu.
Chennai.
India.
Sorry Muthu,
I didn’t mean to be so blunt. When I said" leaning the wrong way" I ment not totally straight like text book. I’ve been waiting for perfect patterns and BBs and as you said, they are few and far between. I’ve missed out on lots of trades like the ones you have posted, because the mid BB has a slight curve going against the trade. Mostly they would have worked out.
As we can see, the trade which looked like going up, just changed its course in between and didnot reach the mid bb.
Hey,
Please you don’t have to say sorry and you weren’t blunt Yes as you said the near perfect ones are the ones i look for as well and the MOST PERFECT remains elusive to me as well. Since Tymen has given a free hand to use this thread for ALL candle stick traders, i am also trying to tweak the method a bit, just a lill bit only
Regards,
Muthu.
Chennai.
India.
Dodge:
Every trade (both profit and loss) i take it will be on this thread and i believe that will give you enough stats along with the chart to see how it is going and judge the trades. Since the starc bands tick every second, i find them sometimes so misleading. The word “sharply turning” looks too subjective for me and i rather decided to wait to see how the mid bb on the 5m reacts to this sharp turning starcs. I am walking in the beach and my foot steps are too insignificant to be followed. It is Tymen’s whose steps that we follow
Regards,
Muthu.
Chennai.
India.
