Sam,
best way to start is to ask your friend about the system he uses.
if he can get from 1000 to 400.000 in one year…it must be using a darn good system 
enough with joke…there is a lot to learn in this thread.
Graviton, its nice post and actually entire thread
thanks
Hi graviton, i noticed the eu 4hr has really strong uptrend, however looking at the daily it appears to be just a really strong retracement.
So i suppose if you swing trade, you would buy on dips on the 4hr tf however if you were to position trade using the daily, i suppose you would find a cbl entry or break of trendline to go short?
All depends on what kind of trade you are looking for right? Thanks.
Same thing for the eur cad.
Sam, I’d advise opening a micro lot demo account for the same amount you intend to open a real account for. Then trade a very small position, 1 or 2 micros, so emotions don’t come into play as much in the beginning. Only trade real money after you have traded three months without a weekly drawdown. Be prepared for that to take 2 to 4 years. This is a profession and like being a Doctor, Lawyer or Engineer, you have to plan for years of study and practice to be proficient in it.
I’ve known many traders that turned a small amount of cash into a large amount in a very short time. Every one lost it all back plus what would have made a very nice starting account. Don’t fall into that trap.
It’s a journey, not a race. It takes different amounts of time for different people. There will always be those who get there faster and slower than you. You can’t judge your progress by that of others. Start a trading journal. You will need it. Create a trading plan before your first trade and make improvements on it each weekend while the markets are closed.
Keep very good detailed stats and graph and chart them up with moving averages just as you would a price chart. You’ll see steady progress over a long enough period of study and practice.
Be aware it doesn’t matter what your profit is, it only matters that you can trade with no weekly drawdowns. That is 1000 times more important and more difficult than it sounds, but if you make no weekly drawdowns your goal, you will become a world class trader twice as fast as someone who makes maximizing profit their goal. As a matter of fact, anyone who makes maximizing profit their goal rather than minimizing drawdowns will never make it in this profession, no matter how long they study and practice. It’s just the way this business works and you can’t change it. Happy trading.
Note that with trend CBL entries only out of a squeeze works so well you can trade any time frame and have many trades going at any time. I can have 5 to 15 trades going at any time on time frames from 5M to daily. Shorter TF’s make fewer pips and longer TF’s make more pips, but it’s all good. I just keep up with it in all in my journal and with on-chart notes so I don’t get confused as to which pair is trading which TF. I have a plan for every trade and I track all my stats carefully and I’m always optimizing my methods. It’s lots of work, but I enjoy it and it pays well.
Yes, EU is in a major retracement. It will either break it’s retracement trend line, making for a great entry, or continue with the retracement turning into a reversal of long term trend. Draw a nice channel on the 4H chart and buy after turns back up from dips and sell as it approaches the top of the channel to enjoy this type of ride. Don’t try to get all the pips. Just try to get the sweet middle third of each swing. So wait till it’s very clear that price has turned back up after a dip to buy, and take profit after it’s moved about 1/3rd the width of the channel. Then sell only after it is very clear it’s headed back down, and take profit about 1/3rd the width of the channel. Don’t rush entering the trade, in fact, be late entering and early taking profit. Settle for the sweet middle third of the range. Draw entry and exit lines in that sweet middle one third of the channel so you don’t enter too soon or stay too long. If it goes out of the bottom of the channel, you’ll have to wait. It may come back into the channel, or it may be a return to major trend down. You just have to wait and see. Happy trading.
Graviton, I noted that this week squeeze-trades are not so good for me. Some squeezes are very long, which doesnt copmpair with my patience style.
also such long squeezes make to many ‘whipsaws’
for exemple today I took the trade of the 15min gj chart. it was looks like PA going down. I went short at the lower band. then there is bullish candle comes up which made me closed the trade with loss it was at 06.45 am in the squeeze.
later the pa went down and then up again after it took real short movement for 70-80 pips. But I didnt trade it. there was no squeeze anymore.
Those candles accross a squeeze appear pretty often as I can see . I would need to look for some more ways for entries.
CBL entry in the sausage looks not very safe without any some extra confirmation.
Please post this chart marked up with your trade so I can comment.
You’ll need to develop lots of patience to succeed in this business
here we go
can you see I have marked two candles. One is very small at the lower band I took the entry when It was bearish (low of the candle) right before it become bullish.
I may need to make a rule to enter on candle closed,which is not always good. So I dont know ???
Such first candle, that first off the band, can be very long and make more pips
I am trying 
Very hard to see, even when I zoom in it’s still blury. Is the candle you are speaking of an extreme, or was the previous larger candle a lower extreme?
You have marked both top and bottom, you went short off the top band, or long off the bottom band?
Do you remember we were trade off the 4H chart squeeze-trade (I think it was au. is it?) we took long wshen pa was at the upper band and the price was continuing to rise?
I do not go short in the squeeze if the PA at the upper band. I go long at the moment when pa touch the band and the bands start to open up.
Thus I wnet short when pa was at the lower band and was about to fall. But it didnt. It closed with very small bullish candle. Can you open your chart and see please?
That small bullish candle didnt make me to close the trade because it was too small and touched the band. Next candle was long bullish candle. I didnt close the trade because I did think its could be a spike that pierced the middle band, and I was waiting for the candle closed. It closed by the upper band.
my computer is so slow for some reason … :rolleyes:
OK, I see what you did wrong. You did just the opposite of what Tymen’s CBL method requires. His method would have you going long off the bottom band, in which case you would have made nice pips. You have to use a system, some system. Hoping or guessing isn’t a system. It can’t be improved. Had you followed Tymen’s system, and gone long off the bounce off the bottom band, you would have made nice pips, right?
no, I didnt I would need some extra confirmation to go long at the lower band. Tymen didnt advise some extra confirmation. Because if the price would continue to fall in case of sausage It is a loss.
if the sausage is to long you would experiance to many losses.
I was trading only squeezes. How I can go long if the price is about to fall??
I wouldnt understand it.
now I can make conclusion, that in case of squeeze-trade its 50/50 the price can fall or rise at the band.
I can show to you too many examples when pa at the upper band (in the squeeze) is rising instead of falling.
dont lie to yourself that cbl works all the times. It dosnt.
Or am I missing something?
If you can see at NB’s cbl entry alert there are to many cbl entries that makes losses only. I would say like 50/50/ or even more
Because you know better then anyone that BB bands act as support and resistant and there is 50/50 chance that the price will bounce off or ‘broke’ the band (SR level)
I would say I would need an extra confirmation, 50/50 dont work with me
naked method is for tymen, think he is getting hot when he trades 
I don’t believe you understand how the CBL method works with the probabilities. Yes, at any time, price has about a 50/50 chance of going up or down. But after a valid CBL signal has been given off a bottom band, there is about an 80% chance the price will go up. That means that if you consistently trade against a valid CBL off an outer band, you will lose most of those trades.
Now if price is headed down, and does not turn back up to give a valid CBL, then you might be able to trade the breakout down, but that is a different system. If you try to trade all those breakouts down, some, perhaps half, will turn out to be a false breakout and will turn back up, giving a valid CBL and then proceeding to the opposite band. The bane of breakout trading is false breakouts. In a sense, Tymen’s method identifies some false breakouts and trades them.
Trading breakouts is a valid way to trade and tons of information can be found by a quick google search like trading Forex breakouts. I often trade breakouts myself and have done very well trading them. If you enjoy trading these set-ups, by all means become the best breakout trader in the world. The breakouts you are looking to trade often turn into long BB walks and make many pips. But if the breakout turns back up and makes a valid CBL, there is an 80% chance it will continue against you and you should immediately exit, or even better, reverse and trade the CBL entry (which most would call a false breakout), since you have an 80% chance of winning with it. Sure it’s not absolute, it’s a probability.
So I’d say if you want to trade breakouts, you need some additional confirmation that it isn’t a false breakout. Even then, if price turns back up and generates a valid CBL, you should exit immediately. You also need to do some serious study of that method. Do a google search on trading Forex breakouts and start reading. You will discover there is a whole world of research and systems to trade breakouts. After only a few months of study and practice, I promise you will not have the problems like you did with this trade.
In the end though, whether you are trading breakouts, or false breakouts, or whatever, you need to have a system that has a positive expectancy and always stay with it. There is nothing wrong with having several systems and trading them in some sort of combination, as long as that combination generates a positive expectancy. As I mentioned, you can trade both breakouts and false breakouts, as long as you have a well tested system to do that. Just trying to jump in in the middle of breakouts without a system though will prove to be very frustrating and is probably a losing method. At least, that’s my opinion.
Thanks graviton, the daily looks like retracement still has some room to go before hitting the upper channel.
Also looking at the retracement of the eu on the 4hr tf, would you consider adding lots in? After every dip you add a lot and place a SL before a higher low?
This way you are riding the trend right? Or you stick to your 1/3 profit method?
And also on your first lot, how much risk does it carry? 0.5% ?
Renala, you can tried what i did by combining trends with the cbl.
For example i would look for a trend in the 4hr or daily tf. If its strong upward trend i would buy on dip.
When its dipping i would look into the 1hr tf for a cbl entry to go long, usually i am able to get it. This way i am playing with the odds in my favour, as im going with the trend.
I’ll post up couple of charts soon to show you what i mean