Thank you Tymen for the detailed and graphic explanation. I think that by showing the method so clearly, removes any doubts and misunderstanding.
Thank you also Merchantprince for making a PDF of the method - I have printed it out.
Ken.
Thank you Tymen for the detailed and graphic explanation. I think that by showing the method so clearly, removes any doubts and misunderstanding.
Thank you also Merchantprince for making a PDF of the method - I have printed it out.
Ken.
Thanks Merchant Prince. This is an excellant resource for newbies like me.
Gerard:)
I have some questions regarding entry rules.
the CBL rules gives too much entries for me in 15 m timeframe, but alot of them are wrong. On my daily trading I still draw support resistance lines on 4 hr timeframe to determines trend direction.
the questions iCarumba asked are some of the questions Iād like to know the answer too as well ā¦ so ā¦ any takers ?
Best Regards,
Matt Jones
Have you both come onto this thread just to waste my time? :mad: :mad:
This thread is now 400 pages long, and everything you would want to know is in the thread.
Added to that is [B]Gravitonās [/B]multi timeframe trend trading thread!!
And [B]Merchantprince [/B]has just finished posting another one of his fine PDFās.
So, you lazy pair, do some homework and look up the answers yourself!! :mad: :mad:
[B]I ask that [U]every regular poster here[/U] ignore these people - DO NOT answer them - remember, I am one of the chief troll watchers on this forum.[/B]
I also wish to take this opportunity to thank [B]Merchantprince [/B]for making a full PDF of the quality exit method.
I am also very grateful that he has placed it on the chatroom as well.
It is here that we are getting a collection of the essentials of the DNA method.
I will myself refer to it when constructing the final PDFāS. :o
Wonderful [B]Graviton[/B]!!
Well done!!
MT4 users will love you!!
As [B]Aserat [/B]has stated, a chart added is always helpful.
The problem here is that you are trying to compress trades - that is, having one following on the heels of another.
Do not do this!!..because it can create clashes and confusion. :eek: :eek:
Even I the inventor of the BB DNA method, cannot solve this kind of clashing.
The correct thing to do is to end one trade and give it a nice time space before entering another.
A good idea would be to end the trade correctly, then go onto another trade in another currency pair.
OK, now to spend time answering a question asked in a PM by our great world class trader, [B]Rhodytrader (John Forman), Honorary FX Member.[/B]
I will ask him to visit us in the chatroom and if possible, give a lesson on the whiteboard.
tymen, I started reading this thread a couple months ago, got to around page 20 and havenāt really picked it back up, but I intend to. This week perhaps! Anyway, I wanted to thank you for your contribution to the forum. I look forward to reading until my eyes pop out soon.
Thank you for an excellent system!
My first profitable day was the one I applied it and what was even better: after reading and studying the whole post I knew more or less what was going on with PA so I wasnāt all the scared!
Took three bearish movements in the morning in USD/JPY, CHF/JPY and GBP/JPY with a net result of 240 pips
Post analys of trades showed an increment of 3% in total account, so that shows me I overtraded there as I donāt have the knowledge to consistently do thatā¦
Wellā¦ only wanted express my gratitude for all people here who spent all this time teaching and working towards the goal of a magnificient tool.
A tool Iām devoted to master so I will join DNA chatroom as soon as I can and meet all students/masters
thanks tymen for answering my questions
would you please notify what time you, Graviton and John Forman will give the lessons I can make myself available to this time. I think others traders will do too.
thanks once again
btw, just interesting what world class trader question is? :rolleyes:
traderAlan, I think you would need to set SL at Parabolic Sar value.
Thanks once again Tymen for a wonderful read. I have actually enjoyed learning! That, I am sure, is a reflection on the teacher. And the exit method is concise & easy to understand (and hopefully to imlement).
To all - I do have a few questions to clarify, so I will post a chart.
Can someone please comment on my logic (or otherwise) for this 15 min chart of EUR/CHF?
From my understanding of Tymenās rules:
E1 ā This is in a squeeze (or is it a small sausage?) so 1 candle CBL at Extreme candle. I think I should enter as the next candle passes through the CBL line, indicated by Enter 1. Is this correct?
There are 12 pips profit if TP1 is taken at mid 2.0 BB (std dev = 2.0).
The candle indicated by TP 2 doesnāt quite touch the lower 2.0 BB ā it misses by 0.5 pip. In hindsight it is easy to say ālets take the profit hereā. From here the trade reverts until we get stopped out on the next candle. If TP 2 is not taken then trade would be +12 - 5 = 7 pips profit, so still OK. How do others handle this?
E2 ā Still in a squeeze, so 1 candle CBL at Extreme candle. Entry 2 is 2 candles later. With the spread included the entry level is already below the mid BB. In this case I could take TP1 at the lower 1.0 BB, which would still only be 5 pips. TP2 is taken at lower 2.0 BB with 12 pips profit. At this stage I am still thinking I am in a squeeze & not too confident of a BB walk. Even if I let the trade go longer I donāt know if I would want to give all these pips back. By the high of the 9th candle after entry I am 9 pips in debit. I think some would have already locked in the profit & maybe re-enter on candle 9, while others may wait to see if the SL from E2 is actually hit. What are your thoughts please?
After I missed a great BB walk (well over 100 pips) I get to E3. As this is in a bubble/sausage area I must wait till the opposite outer BB contracts and have a candle close in the direction of my trade (now long) with a [B]body[/B] that is [B]smaller[/B] than the [B]body of the extreme candle[/B]. This would be Entry 3, which results in a loss of 2 lots * 19.5 = -39 pips. Is this correct?
E4 is the next extreme candle with a very small body. This means there is little chance of finding a candle with a smaller body that passes through the CBL. So I may as well go to the next curreny. Is this correct or am I missing something?
Any thought and comments are welcome. Thanks for your time.
Cheers.
Actually Ive been following this thread from the beginning. Sorry if I donāt absorb as much as others.
Following from the beginning, you should have seen the countless PDFās that are made and know where to find them.
Surprisingly the post above yours quotes another post with links to everything.
itās not about you absorbing the information slower itās the fact you have either skimmed and missed it all or you have the memory of a fish.
personally, as i came to each and every PDF i saved them and printed the ones i needed.
Tymen and the contributors to the thread have done an amazing job not only providing us with an amazing trading system but also re-producing the information in easy PDFās having you come along after 400 pages asking all the quetsions already covered half way through the thread and also covered in the PDFās is a little disrespectful to the work thatās been put in.
I have read almost all the post but i didnāt read the pdf
Had a look at his website, very impressive fellow, John.
[B]@ madpipa,[/B]
E1 ā This is in a squeeze (or is it a small sausage?) so 1 candle CBL at Extreme candle. I think I should enter as the next candle passes through the CBL line, indicated by Enter 1. Is this correct?
[B]E1 in my opinion looks to be in a squeeze area, and your entry with the 1 candle CBL seems spot on! :)[/B]
The candle indicated by TP 2 doesnāt quite touch the lower 2.0 BB ā it misses by 0.5 pip. In hindsight it is easy to say ālets take the profit hereā. From here the trade reverts until we get stopped out on the next candle. If TP 2 is not taken then trade would be +12 - 5 = 7 pips profit, so still OK. How do others handle this?
[B]Yes, such situations are almost as bad as being stopped out to the exact pip! However, we must stick to our System Rules! I also wanted to point out that the actual pip value of a trade, actually means nothing much by itself - its the pip value relative to your stop-loss and position sizing that counts. Those 7 pips at a glance look like they could have resulted in a tidy 1% increase in your account. To help remedy such unfortunate situations, when the trade hits the opposite Standard Deviation 1.0 Band, I move my Stop-Loss to Break Even. This in essence gives a risk-less trade, which not only bolsters oneās confidence, but also follows the axiom of locking in profits as the market makes them available to us.[/B]
E2 ā Still in a squeeze, so 1 candle CBL at Extreme candle. Entry 2 is 2 candles later. With the spread included the entry level is already below the mid BB. In this case I could take TP1 at the lower 1.0 BB, which would still only be 5 pips. TP2 is taken at lower 2.0 BB with 12 pips profit. At this stage I am still thinking I am in a squeeze & not too confident of a BB walk. Even if I let the trade go longer I donāt know if I would want to give all these pips back. By the high of the 9th candle after entry I am 9 pips in debit. I think some would have already locked in the profit & maybe re-enter on candle 9, while others may wait to see if the SL from E2 is actually hit. What are your thoughts please?
[B]I agree, a squeeze still appears to be present, and your extreme candle selection is spot on. However, when the extreme candle extends so close to the Middle Bollinger Band, it is necessary to ācut the candle in halfā, and place our CBL at the half-way point, as opposed to the low of the candle. This will allow TP1 and TP2 to be larger, increasing our Risk:Reward ratio. Now in order to try to catch those Bollinger Band walks, while eliminating the need to have a āfeelingā for whether or not one will occur, I use 3 contracts as opposed to only 2. One is for TP1 at the middle Bollinger Band, one is for TP2 at the outer Bollinger Band, and one is to be exited via the PSAR Exit which Tymen has recently showed us. I also move my Stop-Loss to the Middle Bollinger Band, as soon as TP2 is hit, thus allowing my third contract to be a risk-less one, with profit locked in, and the potential to capture those lovely walks on the Bollinger Band. According to my Trade Plan, I would however be stopped out of the trade at Candle 8, but for a healthy profit, and thus I will forfeit the upcoming Bollinger Band walk.[/B]
After I missed a great BB walk (well over 100 pips) I get to E3. As this is in a bubble/sausage area I must wait till the opposite outer BB contracts and have a candle close in the direction of my trade (now long) with a body that is smaller than the body of the extreme candle. This would be Entry 3, which results in a loss of 2 lots * 19.5 = -39 pips. Is this correct?
E4 is the next extreme candle with a very small body. This means there is little chance of finding a candle with a smaller body that passes through the CBL. So I may as well go to the next curreny. Is this correct or am I missing something?
[B]No sweat! We canāt always capture such great BB walks. Personally, I would not enter at E3 or E4, because my definition of an extreme candle is one which has to touch an Outer Bollinger Band (of the regular 2.0 BB). Also, these areas have been designated as āNo Tradeā areas, since they generally tend to be unpredictable, and do not adhere as well to the CBL rules as squeezes and other areas. I would wait until Point P has been reached, which is where the Price Action touches the Upper Bollinger Band (of the regular 2.0 BB) after the BB walk.[/B]
Hope this helps!
Happy pipping!
Iāve been quite busy lately, but here are some things Iāve been working on:
The SAR EA
The new EA is attached, and here is a short video demonstration of its use.
Video - YouTube - The Finest in Trend Trading - EA with SAR exits
I believe all of Tymenās rules have been followed, let me know if I missed anything Tymen
MT4 to Oanda Tech. Demo
Video - YouTube - The Finest in Trend Trading - MT4 to Oanda Tech. Demo
This next topic took some time, but Iāve finally developed a 100% reliable way to bridge my MT4 and Oanda accounts together. I am now using an MT4 EA to automate Tymenās band-trading on a non-MT4 broker
The possibilities are endless, and this same method could work with GFT or any other non-MT4 broker, if you know how to configure it. Iām considering creating an alternate thread for this topic, and might make a Linux VM so people can easily implement this automation themselves, let me know if youāre interested.
Free chat and screen sharing (Whiteboard) solutions
Video - YouTube - The Finest in Trend Trading - Free Chat and Screen Sharing solutions
Lastly, Iāve done some tests and ran some numbers on our chat and whiteboard solutions. While I like Merchantprinceās setup, and contrary to popular belief, donāt have anything against the guy :p, I think there are better options out there for our needs.
Iāve calculated the cost to $404 a year for the Ning chatroom + Vyew whiteboard services, allowing 20 concurrent users and $524 for 30 concurrent users. While the final decision is up to you (Tymen), Iād like to review some options so you can make an informed decision.
Here are my recommendations:
Home | www.bigbluebutton.org - Unlimited chat. Unlimited whiteboard. Unlimited screen sharing. 0 cost. Requires one of us to run this on their server (I have one).
Easy, Open and Affordable Web Conferencing and Webinars | Dimdim - 20 concurrent users of chat, whiteboard and screen sharing. 0 cost. Hosted (doesnāt rely on one of us running it on their server).
Iāve created 2 demo sites for each option:
BigBlueButton - I put this on a temporary server, will only be up for maybe a day or so.
bandsdna.servebbs.com
Dimdim
https://my.dimdim.com/bandna2/
Given the choice, I would choose BigBlueButton. I hope this is enough information for you Iāll be posting some demo trades soon!
Final_Tymen_Sar_rules.ex4.zip (95.5 KB)