After a lot of investigation by [B]Merchantprince [/B]and a quick PM to [B]DodgeV83[/B], [B]Robkore [/B]was able to record both the sound and video on his Camtasia program for the live whiteboard set up by [B]Merchantprince[/B].
So last night I did my first lesson on a nice short trade on EUR/USD on a 5 minute chart.
The CBL was as clear as a bell and the entry was discerned and the stoploss set.
The stoploss was 13 pips.
I used the traditional 2 contract method with TP1 and TP2.
With 2 contracts the stoploss = 26 pips.
The TP1 gave only 2 pips profit after spread and TP2 gave about 29 pips - 32 pips in all.
[B]Now 32 pips is excellent for a 5 minute chart!![/B]
The problem with hourly charts is the lesson time.
As I said - who is going to sit thro 10 or more one hour candles for a lesson.
So I think we are restricted to very short timeframes but at least there is action for all to see.
[B]The above lesson was recorded for all to see later!![/B]
I can tell you like designing and running these programs, and you are very good at it. It always seems that people are the best at what they love to do. It was Confucius that said, find a job you love to do, and youāll never work a day in your life. So good for you!
Knowing this, Iām expect you have been forward testing, back testing, auto testing and every other kind of testing Tymenās methods. Care to share any preliminary results?
If anyone else has testing results they care to share, now that DodgeV83 has been kind enough to share his EA, please pass them on.
Iām trying to see if Iām just lucky, or this stuff really works as well as it seems to.
Thanks for all the contributions and great help from everyone.
So excited that this thread is gaining momentum again!
Is anyone using an alert system with the Bollinger Bands? Iāve been googling for an MT4 indicator that will send an email when price crosses/closes beyond a band but havenāt found one yetā¦
Thanks for the lesson tymen, the parts I saw were extremely informative and I canāt wait to see the recording.
Regarding the hourly issue, can we pick a random currency pair and use backtest data to do a lesson. MT4 backtest data can be slowed down and speed up to fly by hours.
Again thank you for this EA.
Could you explain the difference between āhide stopā 0, and "hide stop " 1.
Sorry for my silly question, but Iām not a light nor programing, or English, and I sometimes have difficulty understanding the subtleties of the explanation.
Thank you in advance of the time to explain to a newbie ā¦
Regards, Didier:)
I downloaded the pdfās for this thread but it seems to be unorganized as of now. I was just curious if there is going to be a remake of it anytime soon. I just came to this thread and it would take forever to go through the whole thing to capture just the things needed to get this trade down. Is there an easier way of learning this trade then going through the whole thread post by post. I really liked how the ultimate candle pattern pdf was setup and it would be great if something similar would come out for this topic. Also is there a setup strategy and EA for the GFT DealBook since I use this program instead of MT4. If Dodge could post some videos with this trade being used with GFT DealBook that would be great.
I just which I was on board when this thread started so I could of kept up with it but only found this site a couple weeks ago. I donāt want to take the easy way out and will read the entire thread if need be but I would just like to jump to the learning process of this trade without all the talk in between.
I can create a video for this and post it on Youtube, but honestly I donāt consider myself an expert in this strategy yet! Give me a few more days of backtesting and weāll see what I can come up with.
Also, the main addition Whiteboard brings is the ability for others to chat together while I do it, correct? Unfortunately, no one seems to be online here during my available hours, so scheduling would be an issue. Also I sometimes like to take breaks/phone callsā¦etc while backtesting, (especially if I were to backtest a whole month), so this will take some planning on my part.
Would you like me to show you how to download an MT4 demo and free yourself from the shackles of GFT backtesting? It really is fun to pick a random date in the past and watch the 1hr candles fly by in a matter of seconds
I would first like to give thanks to you (and everyone else!) for all of the kind words
I will share some more of my backtesting results this weekend, but here is something I did just a few minutes ago in response to your request for results:
Sorry, there are a few reasons why this wonāt happen.
I only use MT4, which GFT doesnāt support. Iām not at all familiar with how to trade like this in GFT.
I canāt create a GFT Demo account without a pushy GFT Sales rep calling my cell phone (the only phone I own). If you use a fake number, they will immediately end your 30-day trial account.
thanks for your reply,
I have downloaded your Tymen_Final EA, but I didnt get a chance to use it yet, from other posters I can see that your EA is fantastic thing to have
I want to thank you for that also.
I have installed the script that you have attached (close all open orders specific pair), but I dont know how to use it.
Its right now in my scripts folder. I clicked on it twice didnt happend anything, then I did right click and then execute on the chart it didnt happend anything also. I have few others scripts but now sure how to make them work.
would you explain please what I do wrong?
and I sometimes have difficulty understanding the subtleties of the explanation.
