The finest in trend trading

Thanks very much for your detailed reply Trizzle. :slight_smile: Of course you are correct about E3 & E4. I think I tend to rush things & forget the simple things - like [B]P[/B]. :o Before I place another demo trade I am going to make a check list with ALL of Tymen’s rules in logical order with a checkbox beside each. That way I will slow down placing a trade and make sure I don’t forget anything.

Cheers.

Dodge,
Had a look at the xdotool and have to say I am impressed. The thought of paying for Oanda’s API does not interest me, but I do think they have the best spreads around. I would like to learn more on how to get the output from the MT4 EA linked to my Oanda DEMO account. Would you prefer a PM or should I wait until you have set up an alternate thread.

Is there any indicator that can show BB contraction or expansion

Hi [B]iCarumba[/B],
I dont think there is an indicator. (Not sure)

You dont really need one actually.

Practice spotting BB-squeezes (times when BBs are level) and BB-Bubbles/BB-Sausages (times when the BBs are expanding) on a chart. You get a feeling and an eye for it pretty quick.

Just take one currency-pair and scroll back in time a few months.
Now just try to find every squeeze and every expansion/contraction from that point on till today.

I know its not the funniest thing in the world, but its worth the effort.

Many, many pages back on this thread Tymen gave us all a similar “homework” and im happy i have done all my “homework” up to now.
It really helps. :smiley:

often times the bands are expanding too much so i can only see one side of the band only. and sometimes the change from expansion to contraction is not contrast. this is important especially to determine extreme candles.

I have tried 2 read all the pdfs … but still could not find … how to enter at bb squeeze … since the gap between upper and lower band is very small and the extreme candle is not obvious. And i think this is important to know this and alot of major trends starts from bb squeeze.

Naah.
You just need to learn how to use you trading-platform correctly.
I think every plattform has the ability to change the perspective.
(Changing the timeframe is not what i mean)

For example if you use metatrader and you can’t see both Bollinger Bands you can simply press “+” to zoom in and “-” to zoom out.

To trade successfully you definitely need to know the tools you work with.
E.g. your trading-platform.

Did you read the pdf’s? Or did you just try?
I mean nobody asks you to read every post of this thread (even if its worth the effort) but you should [B]at least[/B] study the pdf’s.

  • Read them.
  • Try to spot similar situations on your charts.
  • Read them again.
  • And then again.
  • That would be the [B]absolute minimum[/B] you have to do if you want to learn to trade this method.

Also finding an extreme candle isn’t that hard.
It’s the candle which penetrates one of the outer BBs.
With it you draw your CBL (count back line).
Is the candle too big cut it in half.
That should work for most squeezes, even if they’re pretty narrow.

True, true.
So as i said, scroll back in time.
Learn to spot squeezes and draw your CBL’s.
Just practice that for some time. Its improtant.

Good luck mate.

[B]EDIT:[/B]
It was mentioned by [B]Tymen [/B] before that this method is for experienced traders only.
Was i an experienced trader when i started reading this thread?
[B]Definitely not.[/B]

But i spent hours and hours and sleepless nights to understand everything. Like many on this thread i think.
That sometimes costs strengh and nerves.

[U]Just take a close look what you have here:[/U]
Together with [B]Gravitations [/B]Thread on [B]Multi-Timeframe trend Trading[/B] you have so much knowledge aviable.
Knowledge from two professionals with years of experience.
For FREE. Its your decision to just take it.

Hey iCarumba (nice name btw :D), in my early days I made an indicator to do this…but I never used it.

Maybe it might be of use to you.

BB-Bandwidth.zip (1.58 KB)

It’s really unfortunate that we can’t take every BB walk on the planet…a great entry into a potential walk just goes wanting…

Btw, which trading platform are you using? :confused:

Yes, this can happen in the case where price with PSAR trailing close behind is already near the upper band, price dips dips and inverts the PSAR above the upper band, then price resumes it’s upward move, but hasn’t reverted the PSAR to standard form again, yet.

In this case as I understand it, you exit immediately if price penetrates the 3.3 BB. If price reverts the PSAR to below the midband, then the PSAR is your stoploss. If PSAR reverts to still be above the mid band, then the mid band is your stop loss. One of these three things must happen eventually.

Someone please correct me if I’m wrong on this.

That would be G R E A T!

Dodge, once again, great work. Your contributions to this thread have been invaluable. Thanks! I have one small comment on your EA for Tymen’s PSAR method. Since I’m just beginning to demo test myself, someone please correct me if I’m wrong.

I believe in Tymen’s method, when the PSAR moves above the mid band in a long trade, the midband becomes the ultimate stop loss, so the trade is exited on any touch of the midband, not on a close in the band between the PSAR and the midband. That might have kept you in the long trade in your example longer.

Someone please correct me if I’m confused, again.

Thanks again Dodge. Once we all agree on the PSAR exit EA, I’m wondering if it can be combined with the CBL entry EA to allow good testing of the whole Tymen trading system. If that is possible, I’d be interested in testing the 2 lot strategy using Tymen’s trading system vs. one lot vs. multi lot.

Sorry to generate more work for your Dodge, but your work is so fantastic it only makes me want more. Maybe someone else like IH who knows how to back test can help carry the burdon by running those tests once the EA is ready?

Thanks again to you Dodge and all the others who have helped so much. Of course, many thanks to Tymen who has spent countless hours developing this system and patiently answering our questions. I’ve only been demo testing about a week on this and I’m getting great results. My results are so good it’s hard not to incorporate this into my live trading without completing a good demo test first. I have rules about changing my trading plan too fast, but this might turn out to be the exception to the rule, or proof of the rule that every rule has an exception. Now I’m rambling on. Thanks to all involved :slight_smile:

Hi Graviton, I think you’re right.

Before the PSAR crosses above the mid-band in a long trade, the ultimate stop loss is the PSAR. Once it crosses above the mid-band, the ultimate stop loss is the mid-band.

Any touch of the ultimate stop loss takes us out of the trade.

This is my understanding of this method…

Hello everyone, I have finally made it through this amazing thread! It took me a while but I feel like I have learned a lot along the way, what an interesting journey this thread has been. Thank you [B]Tymen [/B]for sharing your ideas and for your time - being so devoted to helping others here in this forum is an inspiration to me. Thank you.

To put what I have learned into practice, allow me to make a small correction to [B]Graviton[/B]'s response to [B]ReNala[/B]:

  1. When the PSAR inverts, we exit immediately if the price action touches the outer BB (deviation 2.0).

  2. [B]Graviton [/B]is correct to say that there exists an exit condition at the extreme BB (deviation 3.3). This condition happens when we enter a trade and, based on the price action, we determine that it is a breakout trade (Condition A in the BollingerBandExit.pdf). In this case the price reaches the extreme BB several candles after entering the trade and we exit at that point.

Hope this helps!

Thanks this is handy.

You are welcome, [B]Aserat[/B]!! :slight_smile: :slight_smile:

Look forward to seeing you in the chatroom!! :slight_smile: :slight_smile:

Welcome here [B]madpipa[/B]!! :slight_smile:

First of all, do try to type in standard font.
The font you use (Callisto) is straining on the eyes to read. :frowning:

[B]Now as to your trade, everything appears to be in order.[/B]

2 points I make…

  1. learn the parabolic sar/mid BB exit method whose rules I have posted a few pages back.
    Learn this exit method well.
    Then you can trade and win those BB walks with confidence!! :wink:

  2. The very last entries are trades made in the NO TRADE areas - after the completion of a BB walk.
    These areas are risky to trade and should be avoided.

Finally, If you wish to continue to persue this method, you should join the chatroom where all the PDF’s are located.
Having rush-learnt this method, it is essential that you read thro the PDF’s several times to get it completely correct!!

[B]WOW!![/B]

While I like Merchantprince’s setup, and contrary to popular belief, don’t have anything against the guy

That puts my heart at rest…:slight_smile: :slight_smile:

… I think there are better options out there for our needs.

Given the choice, I would choose BigBlueButton.

Hmmmmm.

I agree with the quote of [B]Graviton [/B]below :

…but your work is so fantastic it only makes me want more.

I have to ask this of you [B]DodgeV83 [/B]- do you ever sleep?!! :stuck_out_tongue: :cool:

I am amazed by the research you have done for the chatrooms and whiteboard.
As to the decision, I would like to leave that between [B]you[/B], [B]Merchantprince [/B]and [B]IronHeart [/B]- because you 3 are the experts in this area.
I am just a dummy here and asking for my wisdom on this matter is not going to get a best result!!
Maybe [B]Graviton [/B]would like to have some input here as well.

As for me, I will go with what ever decision you computer wizards choose!!

Thank you to [B]NForex [/B]for answering a lot of the recent questions and again taking the strain off me. :slight_smile:

And sorry to [B]Graviton [/B]and any others who were looking forward to the appearance of [B]Rhodytrader, Honorary FX Member[/B], on the chatroom.

This is what he says…

Chatrooms are problematic because of SEC compliance restrictions on me as part of my employment situation. I certainly wouldn’t be able to do anything during the work/trading day while I’m in the office.

While I do appreciate others giving answers in my place, a trader does need time to digest and mature in all the information in this thread. :wink:

Please take more time to mature in this material before giving answers, [B]juanchy31[/B]. :wink:

Unfortunately, your answer above is [U]incorrect.[/U] :eek:

[B]The correct answer is…[/B]

[B]When the PSAR inverts, we exit only when there is a CLOSE passing thro the stoploss extension line.
Should the live price action hit the mid BB at this point, we also exit.

An exit at the outer BB is only made after the PSAR reverts to standard and the price action then indeed hits the outer BB.[/B]

[B]Correct!![/B] :wink: :wink: :slight_smile: