Thanks for the advice Ironheart! That worked the way you said. But I’m actually trying to set a pending order to exit 1 lot after I’ve entered an initial order of 2 lots, so I don’t have to sit in front of the computer monitoring the charts all day. Will try to fiddle around with MT4 somemore.
Ahh I see, I haven’t actually figured out a way to do that in MT4!
I just enter 2 separate trades at the same time with their own TP points.
Hey ada_ighy! Yes I’ve also been drilling down from the daily TF to 4H and then to 1H to find a setup. Now that I’ve added more pairs to look at with reference from Trizzle’s thread, I’m beginning to see more opportunities now. I suppose my grouse is waiting for an appropriate setup to appear (which is like watching grass grow) 
Btw you mentioned somewhere on this thread you are from Sg?
Apologies Tymen for the long posts! My teachers used to say I’m too long winded for my own good. Will try to use the chatroom for questions in the future.
I also hope your health is on the mend!
@ [B]Ironheart,[/B] with regard to where to take our profits. Perhaps we can place a Standard Deviation 1.0 Bollinger Band as suggested previously by [B]Tymen,[/B] and allow TP1 to be the Standard Deviation 1.0 band, and the Middle Bollinger Band to be TP2. Or if you want an extremely high Win:Loss ratio, consider setting TP1 and TP2 to the Standard Deviation 1.0 band. The only issue with the aforementioned, is that it will be relatively close to the Price Action, giving a reduced Risk:Reward :p.
I’m sure we’ll find some way to get the best of both worlds - [U]Win:Loss[/U] and [U]Risk:Reward[/U]!
Happy pipping!
Hey xXTrizzleXx, this is a very good idea! I will incorporate this into my tests!
It’s good to have hard rules for entry and exit, as that completely removes any guesswork we have to do!
Iron heart,
I did not do quite what you recommended (there was not extreme candle and contraction in the 30 minutes, but everything else was close. I sold GBPJPY and made 67 pips!
Hey Rob, glad that you made pips!
I’m just looking at the GBPJPY chart but can’t find any opportunities for entry at all 
It would be great if you can post a chart of how you made the trade and how much risk you took to steal those 68 pips! 
It was last night. I did not make screen caps but I will see if I can work something up when I get home. For now, I can at least give you some details. Like I said though…not all the TF’s matched up but they were either tunnels or close…no opposition.
I started at 2:18 GMT on the 29th. The 3 hour chart was pulling off the upper BB a few hours on Oanda. The 15 showed an extreme candle at 1:15 GMT. At 2:18, using a 2CBL, the line was crossed. Sold GBPJPY 10000 for 134.971. I use a 1% SL so about 37 pips.
Once the ball got rolling, I moved my stop. After 30 pips, I started using a 20 pip SL and moved up from there. Once I got to 70 pips, I used a 20 pip TL so I could go to bed. So my Profit may be slight off. But you get the idea.
Sounds great! Good R/R ratio, keep it up!
I am trying.
I will tell you what though, Ironheart, that setup you have IS hard to find (as you said), where all the time frames are contracting and such. Do you only trade that strictly, or do you have some room for other trades?
I am still testing this technique but yes, it is quite rare.
To be honest, I’m not sure at this stage if the 1H and 30M charts are of much use when entering. They definitely provide a good picture of PA but the same results [B]might[/B] be achievable with just the 4H and 15M charts.
This is something that the results of my testing will tell.
You could always add your own twist and change the rules to get more trades, but it may come at the cost of the quality of trades taken, so it’s good to find a balance.
As long as you test extensively with every rule change you make, you could even stumble on more than you bargained for 
Here is a link to Tymen’s 6/29 class regarding the SL changes. It needs a few minutes to convert.
I noticed that too. The 30 minute is almost worthless. The 1 hour for me is good to at least look at since I use Oanda which does 3 hour not 4. So it is closer.
But I definitely like finding a spot on 3H and entering on 15. I need to do more trades to see if that is consistent though.
GBPJPY is so volatile so even though I got some great pips, I need to be careful with it.
I opened another thread to avoid disturbing the work going on here: 301 Moved Permanently
It’s late here now, but I’ll post some info tomorrow on the situation up here for dentists.
Hey tymen! Excellent video of your lesson as usual.
I have always manage to learn something new or little bits and pieces along the way that somehow completes the entire picture!
Im grateful for that.
And just so you know, i believe your method of teaching has reached many of us, and im quite certain not all of us would follow exactly what’s been taught.
Humans would always seek to modify and improve what we have, for the better!
I’m real glad you gave us the stepping stone to further enhance what we learnt from you.
I hope your health gets better as i’ve heard you coughing couple of times.
Get well soon, as there’s no point having all the money in the world without having the opportunity to spend a dime.
God bless and take care
hey there, yup im from singapore. dont suppose you are too?
Actually yes I am Always nice to see a fellow Singaporean
I’m from singapore too!
[B]Many Singaporians on this thread!![/B]
You are a clever and hard working people!!
The next big ticket in my research is to find a method for getting the very best exits on a BB walk.
The simple exit method is great for BB bubbles but leaves you way from the best exit on a BB sausage.
The parabolic sar does little better and keeps you in the trade longer than necessary.
Exiting on the mid BB after a long BB walk seems satisfactory but is hardly the best exit you could get. 
So I am looking further - at the relationships between timeframes, as they are linked by the square root function.
A BB sausage always becomes a BB bubble in a higher timeframe.
The trick is to find the correct higher timeframe.