The finest in trend trading

[cordite]

How can I move the chart forward or backward 1 candle/bar at a time? I want to use it for back testing.

Also, how do I change the profit/loss from $ to pips? I want to concentrate on pips won or lost rather than money.

Right click in the profit window, and select pips.

Not sure how to advance one candle at a time, although did know once, so will try and remember!

Edit - haha, beaten to it.

[cordite]

I’d like to continue as we are. A high win/lose ratio might make for easier entries psychologically.

As I said, I’ve traded high Reward:Risk ratio before, and while they do provide impressive wins, the losses are more frequent, so the doubts start to creep in.

Nothing stopping us form covering the macro method once the micro has been completley understood and trialled.

[sijeeva]

Tymen

Its not complicated ,its easy to learn and impliment
we are buliding a system with great performance and thats our goal
So i like to cont with BB DNA method ( no turning back no turning back)

[PTB]

press f12 to move forward one candle

right click on the terminal window Trade>profit>as points ($ to pip)

Thank you very much. I knew there was a way to do it.

Here is a tip for those who don’t yet know it. Click on the scroll wheel on your mouse…it will bring up the cross hairs just like clicking on the cross hairs icon at the top of the chart. But here is the kicker. A really useful feature. Put the cross hairs on any point on the chart…left click and drag you cursor to any other point on the chart. You will see 3 sets of numbers. 1st set is the number of candles between the 2 points. 2nd set is the number of pips between the 2 points. 3rd set is the price at the point of the cursor. This is very useful. I use it all the time.

[TraderAlan]

Would you prefer if we retreated back to our original idea of macro trading with the 3 line CBL and the Fibonacci ratios.
We would use the Bollinger Bands as a replacement for the SR line.

By using a higher timeframe and knowlege gained from this DNA system, we could cut out a lot of the losing trades and develop a reasonable win/loss ratio.
The risk/reward ratio is already good as proven by the Fibonacci retracement approach.

Now, I am happy to continue with the Bollinger DNA method if you like.

But if you prefer a retreat to macro trading using the BB, a 3 line CBL and Fibonacci, then I am happy to switch over.

[B]The job of a teacher is to be flexible.[/B]

[B]So, think about it, and I would like to know everyone’s thoughts on the matter.
Please let me know - I can continue with your preferred direction after I have moved and return to this forum.[/B]

I think it’s going fine, the new CBL entry method is very smart. Why not continue the way it’s going and then do the macro alternative as a season 3 to the thread?

[jcgibson]

OK, here I go again!

I wanted to wait for Tymen to assist with what Graviton and hachiko were trying to do: lay out the rules in a simple, step-by-step fashion. Now it looks like we have that clarification, so I’ve been working on formatting everything that’s been covered so far into some handy PDF references.

As such I have finished two more PDFs to add to our growing collection (if you are new to the thread, be sure to grab an earlier document detailing the overall theory of Tymen’s Bollinger Band DNA trading).

I have made some grammar and formatting fixes to help improve what’s been paid out so far but, as always, no content or images have been changed from Tymen’s original lessons.

The first PDF is a clean, two-page document with just the Four Price Action charts you can print out for easy reference. The second PDF represents the lesson content of the last several installments, along with a detailed synopsis of the step-by-step method for making these entries.

Tymen, let me know if anything is not to your standards and, for everyone else following along and doing our best to learn, enjoy!

EDIT: The CBL Rules PDF has been corrected for Tymen’s typo on not raising/lowering the CBL.

Thanks a lot Merchantprince.

Now I had to make a new directory just for Tymen stuff.

I suppose now I’ll have to make a sub-directory for all your find work.

Seriously all your hard work is appreciated.

John

[Graviton]

I’m demo trading the existing DNA method now and having very impressive results. I vote we follow this to it’s logical conclusion and if there are other ways to trade it, like using multiple TF’s and higher level BB’s as S/R lines, could we not go into those later? Note to those trading 20 min TF, it works the same on 1H TF with lots less work and lots more time to think trades over, entry risk is a bit higher, but pips won per trade can be surprising.

That’s just my thought. I have no problem running multiple demos if we branch off in another direction, since I trade higher TF’s it’s not very intensive work. Perhaps after a bit of demo trading and back testing while Tymen is away we’ll have a better feel for it. So I’m undecided.

Special thanks to Merchant Prince for the PDF’s. They have been most helpful.

[IronHeart]

I agree with the general sentiment here…

I have used a high R/R but average win/loss but it was too difficult for me to implement properly.

Being a very short term minded person, I have found your method very easy to learn and implement and would be happy to carry on as we are.

Of course, for completeness, it would also give me great pleasure to learn the macro approach once we are done with the micro

My great respects as usual are out to you.

[hachiko]

My preference is to continue with the current approach. Better to move forward rather than back off when the going gets a bit tricky. If by high lots we are referring to standard lots, then I am sure that will naturally separate those who are more experienced/ capitalised, from those who are less so.

I am also using the H1 timeframe and finding it less volatile. It appears the bubbles & sausages are more clearly formed on this TF (or it could just be the pairs I have been using).

PS Anyone got in on the USD/JPY, AUS/JPY run-up since April 19? Have a look at those on H1 and see what you think.

[Graviton]

For anyone who feels they aren’t making enough pips, note that I will have three to five trades going at any one time on either the 30M, 1H or 4H TF’s, wherever the entry shows up. I’m adjusting my lot size to risk 2% of trading capital per trade and making 3-5% increase in account balance per day over the past few days. Maybe I’ve just been lucky as I caught a few huge moves on the 1H TF in the last few days. If this works out, I’m looking at a 60% or better increase in capital per month never risking more than 2% per trade. Like I said, it’s too soon for me to say if this will continue, but I haven’t even come close to a drawdown in the past few days. Not to shabby so far anyway. I’d be interested in hearing others results.

[Mystic]

A continuation of the current strat for me also.

[kockneerebel]

If I may, I suggest that we kept to the current method whilst Tymen is away and keep the dialogue and discussions going. On Tymens return we will all have had time to explore and demo this method. At that time we will be better informed to make a choice

[NearlyHuman]

Hello tymen1. I have been thru this entire thread with no questions (or any other active participation for that matter). I’ve found all of the information clear and easy to understand and after a bit of study and digesting, easy to apply. I feel like I’m soon going to be ready to trade with confidence. I’ve been trading for about 3 years and can be a bit trigger shy at times,been bitten a few too many times because I didn’t have a solid trading plan. So far, the Bollinger DNA system feels comfortable to me. I know exactly where I will enter the trade and it will just play itself out. I am anxious to continue this thread and learn about the rest of this system any other tweaks you may discover along the way. Great job!! Thank you!!

[Merchantprince]

[I]from 4-10-2010:
[/I]

I would have to side with those choosing Option 2. The idea of lots of wins is good for one’s frame of mind when trading - I can assure you I’ve never enjoyed even a 68% win percentage, let alone something as astonishing as 98%. And if you could [B]get me a 90+% win rate I would employ the one wild card perhaps no one has really mentioned yet: the use of the high leverages available in forex to trade absolutely [I]insane[/I] lot sizes[/B] using Method 2.

[emphasis added]

I’m telling you, this thread is doing wonders for my self-confidence! I believe I called this a while back: using a high-percentage win rate is golden [I]if[/I] you have the stones to go with much larger lot sizes.

Do I get a cookie for guessing right again, Tymen?

And, yes, I agree with the prevailing sentiment we should continue along with BB DNA – I think it’s possibly worth its weight in solid gold.

If anyone does not feel like risking larger lot sizes, there’s nothing at all keeping them from trading lots equivalent to proper money management rules (1% of account size, etc). You won’t make much money of course, but you can still practice the system until you have it down cold.

I’m more heartbroken over Tymen leaving us for another month(!), but I understand the circumstances.

To the question of chat rooms, earlier today I actually thought of starting one for this method. But it would really only apply to those trading BB DNA off the 5m/15m charts, honestly. People who trade this system off the hourly probably won’t have much use for the immediacy of a chat room - but a dedicated thread just for sharing the experiences of trading this system will probably be in demand at some point. Tymen is familiar with doing this kind of thing from the JoCT.

And for those who have extended thanks for the PDFs, you are most certainly welcome.

[PTB]

Why don’t we just use the chat room here on Babypips? Whenever we are trading we could be in there chatting about what we’re looking at and why or why not. The link is up at the top of this page. There is usually no one there.

[PTB]

For anyone who feels they aren’t making enough pips, note that I will have three to five trades going at any one time on either the 30M, 1H or 4H TF’s, wherever the entry shows up. I’m adjusting my lot size to risk 2% of trading capital per trade and making 3-5% increase in account balance per day over the past few days. Maybe I’ve just been lucky as I caught a few huge moves on the 1H TF in the last few days. If this works out, I’m looking at a 60% or better increase in capital per month never risking more than 2% per trade. Like I said, it’s too soon for me to say if this will continue, but I haven’t even come close to a drawdown in the past few days. Not to shabby so far anyway. I’d be interested in hearing others results.

Sounds like you’re doing great. How about posting some of those trades so we can learn?

[hachiko]

For anyone who feels they aren’t making enough pips, note that I will have three to five trades going at any one time on either the 30M, 1H or 4H TF’s, wherever the entry shows up. I’m adjusting my lot size to risk 2% of trading capital per trade and making 3-5% increase in account balance per day over the past few days. Maybe I’ve just been lucky as I caught a few huge moves on the 1H TF in the last few days. If this works out, I’m looking at a 60% or better increase in capital per month never risking more than 2% per trade. Like I said, it’s too soon for me to say if this will continue, but I haven’t even come close to a drawdown in the past few days. Not to shabby so far anyway. I’d be interested in hearing others results.

Graviton, WRT Tymens comments about high lots, I was wondering if you trading mini or std lots on demo? Sounds like you are well on the way to taking this Live already

[hachiko]

That’s a joke by the way. (just before anyone jumps on me)

[Graviton]

I don’t make trade recommendations on-line as somebody will take it in live account without reading all Tymen’s info and get mad if it doesn’t work. I’m still trading this in demo and probably will till Tymen gets back or until I have confidence that my initial results aren’t by chance. My methods are outlined above, but like I said, I will need to demo for a period of time to say what longer term results occurr.

[hachiko]

Being serious now: I agree completely with Graviton & Tymen on this point. I have seen other forums degenerate into micro-analysis of good trades by inexperienced individuals who then try to repeat the results with the same pair in their own live accounts. Problem is, the whole situation has changed by the time they read the post, their trade goes against them and then they come back and complain the method is flawed.

There is also the free rider problem as well. If you want get it TO work, you’ve got to DO the work.

Once the method has been refined, then maybe we can start up a forum al la james16 where we all post charts & disect them for each other.