5M Entry/Exit
Thanks Loppan, sounds like maybe you could be a bit more ‘selective’ about the trades.
I will bare this in mind for when I get started 
@ Muthusai
why did you stop trading at that point?
There were three levels that we could have used as exit on 5m. Looking at the last 3 candles including the green candle where it is marked as exit. (Two bear candles and the last green candle). All these candle did go down and broke the lower bollinger band giving an opportunity to exit. I thought i was taking the ride too long and didnt want to give the market that we got. Hence the exit at the green candle.
Regards,
Muthu.
hi,
I was wondering, can the 3rd candle in evening star or morning dodge star be longer than the first candle?
regards,
Ilan
Hi Ilan
the third candle must be a minimum of 50% of the first but beware when it extends toward and close to the middle BB and always wait for the BB and starc to be in favour before you trade
best regards
Dave
I think I’ve spotted a piercing pattern here, but does it matter that it’s not down by the bottom BB?
Hi Blackswan
the lower wick of the second candle is to short to be a valid pattern. this is a reversal strategy and price is seeking always to return to the middle BB which is why in this method we require the pattern to be as near as possible to the BB
best regards
Dave
yes of course, it shouldn’t be too close or touch the mid BB.
I just wasn’t sure weather its a valid pattern or not.
tnx kockneerebel
ilan
Ok cheers Muthusai.
I’m just loading Dealbook, so hope to get demoing soon!!!
You have posted many trades that you won(huge thanks for that) they are really helpfull however, what would be more beneficial for some of us at the moment is if you’d post your losing trades(even if you dont know why they lost).
Of course I hope you have bugger all losing trades to post but if you do…
Cheers
Yes quality patterns are always winners! Well mostly, if theres a news release you should be careful though! Also depends on where you “want” to exit or where the market forces you to exit:D!
I think you should try trading both the advanced and the basic level, too get a feel for both :). TP levels are usually the mid bb, or opposite bb, or wherever if a trend breaks out 
! I love this method:D
Some more questions about these charts:
Is this an acceptable long engulfing pattern? I’m not sure about the top wick on the first candle.
Here is where I made a mistake. I took the first entry but not the second. I exited the first entry when the stacs turned down, but I guess I should have entered again when the stacs turned up again? We are still within seven candles of the pattern on the main chart.
Hi BlackSwan
with the long upper wick on the first candle and short lower wick on the second, I would not have traded this pattern. I wouldn’t have exited position unless mid BB turned against. Second entry could have been made a little sooner and exit of both lots I would have waited as the last green candle is still strong.
best regards
Hi,
In JoCT Part 2, I did post few losing trades as well. First week of November was not going great as it was trending sharply. I had losers during this period. However, some of the losers were all my mistakes entering a doubtful trade when bbs in the main chart are not in favor (Grey area trades as Tymen calls it)
Moving forward, I will try to catch up the losers as well but i will post it only if it is a trade that matched all criterias and still ended up losing and not the ones that i took on doubtful starters. Remember a trade is a trade and even the best patterns will fail and we just have to simply move on looking for the next one. I strongly suggest to stick by the rules if you are a beginner and not venture in to the grey areas.
Regards,
Muthu.
It would be interesting to know how many trades you see each day/week that meet the criteria. I am watching 8 pairs and not seeing that many, which is fine since trades that hit all the criteria seem to work 100% of the time. I’m just wondering if I am missing something.
Main Chart
If you just glance it we will surely miss this as a no pattern. However on careful spotting we will be surprised the pattern did meet the criteria as per the pdf for a short trade.
I sure did miss that one…thanks for pointing it out. 
Hi,
You are not missing anything here. You have to be patient and that is all is wanted. Probably the last trade happened around the same time you were posting this message ? May be May be not. I have 7 pairs open with 7 tf so 49 charts. Since I work i am unable to catch the trades as much as i want to. However, there is surely atleast 2 trades per day if you watch these pairs, sometimes even more. I am talking about reliable patterns only.
Regards,
Muthu.
Chennai.
India.