Yes !!! I finally understood, I hyper waow quick to understand, I’m afraid …
Ok Tymen, i have 50 posts you can do me a personal message to forward to Grace:)
Yeah, I figured that Tymen must be satisfied himself with the countertrend entry methods for him to show us. It’s just that teaching using the forum style may not communicate all that he intended things to be interpeted. Different people will interpret words differently and give more emphasis to certain words than others. Therefore there’s bound to be so kind of gap even if it is small for Tymen with his teaching skills. That’s why posting examples is so important. A chart can speak 1000 words…
I wouldn’t settle for an more inferior system if it is more easier to teach than a more profitable one.
What timeframe and pairs are you having success on Ironheart?
Hi Didilut,
congratulations that you are now able to use photobucket. Thats really cool!
[U]Looking at your chart i have two questions:[/U]
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In the top left corner you can see the time how long the latest candle will take to its close. What indicator/tool is this?
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You got these yellow arrows on to of the highs & lows. Did you made them yourself or is this also an indicator?
Hi TraderAlan,
I am predominantly using the 20M and 30M charts, as they offer small stop losses and are relatively reliable.
The pairs I mostly trade are: GBPUSD, EURUSD, USDCHF and I have just placed one on EURJPY.
What I try to do is look for an entry that is at least 10 pips away from the mid-BB (of course this depends on the relative size of the Bollinger Bands).
If price offers an entry that is only a few pips away from the mid-BB, I simply do not take the trade. The reason I do this is because most of my trades only hit TP1.
It takes an excruciating amount of patience, especially if you have been waiting for 6 hours for your TP2 to be hit, only for the trade to break even.
I try to remain productive whilst waiting - it helps!
1 Like
Here is the indicator NForex - it is an absolutely fantastic indicator, seeing as though we are entering immediately at the close/open of the candle…
I trust that you are using MT4?
Candle Timer.zip (687 Bytes)
Wow!!
So many posts since I was last here. :eek:
I will get sore fingers just typing replies.
One thing at a time.
[B]Because I am coming to the end of my time here before I move, I will give an overview…[/B]
I see us dividing into 2 groups - those that are successful and those that are not successful at using this DNA method.
What should I do?
I must be honest - When I posted this method, I did not expect the level of experience to become a major factor in this method.
Some people are having good success, some don’t know, others are complaining that they are failing because the risk/reward ratio is so poor.
I ask that while I am away, you continue to perfect here what you can.
[B]Some pointers…[/B]
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Trade the higher timeframes only - for example, a 5 minute chart is only noise, there is no trend here and you will only lose.
-
If you think you can handle the retracement areas I said not to trade, then go ahead, but stop if you continue failing. If your losses are greatest in these areas, then stay out of them and restrict yourself to the OO and OBB price action types.
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use a “think outside the box” mentality.
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if you are going live, DO NOT trade undercapitalized.
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experiment with the 2 CBL methods given - the current one and the earlier one where we used 2 candles and no other rules. (I personally prefer the earlier rules but I modified then to suit the ongoing complaints).
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Decide in the end whether this method is going to work for you - be prepared for the low risk/reward ratios.
When I return, I will want to know what the verdict is.
I think I know already - [U]lack of trading experience [/U]will cause this DNA method to be a failure for you. (I do not have trouble myself at all).
[U]If I am wrong,[/U] then I will post live trades as they happen (on demo account of course).
This is the best way for you to learn and I did this on my candlestick thread, part one.
But being pressed for time, I cannot do it now (I have to set my keyboard up to do 2 things at once - edit screen prints and trade at the same time!!).
When I am relaxed after moving I can do this!!
[U]If I am correct[/U], then I will start to post the alternative method of macro trading which is relatively simple to understand.
It will involve knowing the major trend (how to discern it from the subtrends), selecting the correct entry points on the Bollinger bands, using the 3 candle CBL, setting a TP1, then shooting for the moon with a TP2 using Fibonacci.
This macro method can be used with any timeframe because it is governed by the major trend in the high (daily/4h) timeframe.
It does, however, come with an average win/loss ratio, but the complaining readers here will state that the DNA method already has that too!!
[B]For some of you, this macro method will definitely be the way to go.[/B]
Once we establish which way to go, I will then construct the PDF which is the final act on this thread.
1 Like
You are asking a lot of Didilut. :eek:
Remember, he speaks French, so do not put too much pressure on him. 
This is standard procedure in this method!!
Do it always!!
Now if only [B]Graviton [/B]would post charts!!
[B]Didilut[/B], who speaks French can do it!! 
After a string of complaints about losses coming from these retracement areas I decided to make them NO GO zones. :eek: 
But if you are successful as I am, then by all means trade these areas!!
[B]An amazing piece of work by NForex!! [/B]
Congratulations.
You must be a graphic artist!!
You would do well to get togther with [B]MerchantPrince [/B]and do some combined work!!
You’re right! It totally rocks!!
Thank you IronHeart!
Thanks! :D:D
Yeah i think we should combine our skills for the final pdf.
Looking forward to that!
[B]Thank you to Merchantprince for his very dedicated work in producing those 3 PDF’s outlining the method so far. [/B]
Your summary work is, I am sure, greatly appreciated as it puts together all the important information in one spot.
That’s OK.
Decide in the end if this method is for you.
If nothing else I have learned how to post charts I have picked up so much on this thread compared to other threads
…
Nice to hear that!!
The two candle CBL seemed a better approach to me, if when using it we look only for a PA moving beyond the CBL, rather than any type of close or smaller candles.
So, in that sense it remains similar to a squeeze entry.
When we used that method, I saw alot more successful trades than with the new CBL, but then I had more time to look during that time than I have recently.
Will add it to my list of things to test.
Of course, price action can do ANYTHING at ANYTIME!!
It helps greatly if these posts come with charts.
Otherwise it is a bit like being told about a football match instead of actually watching it.
i hope we continue with this method, as i’ve said before…i think it works if you know how to use it properly…
use it on higher TF’s…m30 minimum and check if your trading against a bigger trend in h4 and daily…even weekly is worth a glance…
it should only be producing 1 or 2 really good set-ups per day, nothing is risk free, but if your entering a trade in the direction of a stronger trend then it should give you more confidence to enter…
AUD/USD m30, produced the only really good set-up for me today so far…and it was a winner…
thats 4 winners and one loser this week…only 5 trades, and with so much news today…its time to wait until monday…
i just hope we stick with this method as i’d love to learn more about it…
thanks tymen
I am determined to make this method a success!!!