The finest in trend trading

Beginner Questions
4290

OK, as you may well know by now, I use GFT Dealbook - an absolutely Rolls Royce program. :slight_smile:
Several others here use GFT Dealbook too.
With you $1000 you will have limited indicators but all you need is the BB and PSAR and they will be available to you.

Many here use MT4 with its attendant brokers. :slight_smile:

I leave it to other members here to give details of other brokers for you so that you may choose.
The main things to consider are the integrity of the broker and the quality of the service you are going to get.
It goes without saying that you must also like the charting software. :smiley:

4291

I will give them a look-over tonight after work, thank you for the response. Do you know if they offer micro?

4292

yes, UK gft does. Not every agent will connect you to this future for some reason. If you would like I can send your email to agent who can help setup such account for you. Or try your self first

4293

I currently have a GFT UK micro account, and a smart live markets account too (UK also). If you have trouble setting up a micro account with GFT UK I can give you the person who set up mine. I find GFT a much better broker for their support, and they also require you to contact them by phone/fax if you need things changing or withdrawals which I much prefer instead of it being all automated. Smart Live Markets seem ok, they use MT4 too with spread betting which is a first in the UK for MT4. The only problem with them is sometimes opening times on each Sunday is later than the market opens, which I have complained about many times :mad:

4294

Tymen, this is fantastic!

Now I will be able to stop sitting here and going ā€œoh man, I just missed that walk!ā€ :smiley:

4295

Tymen, i have to agree GFT dealbook is very good. I have started using a demo MT4 account as well, itā€™s very hard to get used to after dealbook.

On your home issues, why donā€™t you try a cooler city perhaps Adelaide or Perthā€¦ if really desperate you could try Hobart or Launcestan even.

Power prices are insane in Syndey too, perhaps an airconditioner cooling a small area wouldnā€™t be so expensive rather than it trying to cool the whole house.

4296

Someone was also telling me how to get all of the indicators in DealBook from GFT that are blocked for smaller accounts. Itā€™s pretty easy but I wonā€™t discuss it here.

4297

Hi, Thank you for all the knowledge here.
Iā€™d like to start participating and learning.
Iā€™ve attempted to sign up for the chat room several times. Iā€™m running firefox 3.6
Iā€™ve enabled cookies and java but keep getting ā€œYour password is incorrect. Please try a different password, or reset your password.ā€ Any help is appreciated.
Thank You.

4298

First I would like to say a big thanks to you Tyman1 Im at page 300 at this thread and I enjoy reading it so much, I started with Babypip school then yr candlestic thread and now this. I have been in forex for a couple of years and was to forget about it when i found this
site, I bought some robots and it did well some times and less well some times so I lost confidence in them. I take my time to understand yr systems, meanwhile i only doing Demo trading. My Broker is Fxcm UK and use MT4. I would like to test GFT. Well back to page 300 for another hours of studying. Sorry for my poor enghlish I work on that too :slight_smile:

4299

What are peoplesā€™ opinions on the Exit Rule quoted below:

a) The price action hits the Extreme 3.3 Bollinger Band after several candles (condition A)

Iā€™ll post a couple of screenshots of two demo trades I entered yesterday to illustrate but basically thereā€™s 2 separate questions:

i) Whatā€™s the beginning point for ā€œseveral candlesā€? Is it several candles after the expansion begins?

ii) Do you need to close outside of the 3.3 line or just wait for it to touch it?

GBP/JPY (1 Hour):

1023Ɨ736

3.3 Dev is hit but Outer BB expansions has not been going on for that long - would it qualify for ā€œseveral candlesā€ at this point?

GBP/CHF (1 Hour):

1024Ɨ737

3.3 Dev is hit early on and then again after Outer BB expansion has been going for a few hours (the candle before just misses it) - this last one appears to qualify for ā€œseveral candlesā€ at this point. However the price only just touches it - would people wait for a close above it or just take it?

I decided to close the GBP/CHF when it hit the 3.3 line but leave the GBP/JPY open for now but would welcome any advise / opinions.

Cheers!

4300

Hi PipBandit, I think the most important thing here to be consistent with what you are doing.

If you choose to close your position as soon as the 3.3 BB is hit, then do that [B]all[/B] the time.

What I would normally do is run a backtest to see how many times price closes above the 3.3 BB and how many times it just touches it and retraces.

There are all sorts of statistics you can keep to help you decide what to do. The most important thing to do, though, to always implement your strategy the way youā€™ve decided in your strategy.

4301

Thanks IronHeart. Iā€™ll do some more detailed backtesting. Iā€™m leaning towards just touching the 3.3 rather than closing above it at the moment. Maybe thatā€™ll also lead me to a better understanding of what point in time qualifies as ā€œseveral candlesā€.

Really impressed with this method so far. The two demo trades from my previous post closed out for +213 pips and +172 pips resulting in a 3.85% account gain.

Granted this was perhaps a fortunate way for the trades to play out with GBP rocketing across the board but what struck me most about using this method in a live environment for the first time was how much more I felt in control of the trade thanks to the system and rules provided by Tymen.

4302

Yes, I can well understand that, since I tried MT4 myself.
It is yesterdayā€™s charting as far as I am concerned.
I cannot understand how traders can live with it!! :rolleyes:

On your home issues, why donā€™t you try a cooler city perhaps Adelaide or Perthā€¦ if really desperate you could try Hobart or Launcestan even.

It is Perth where I came from and where I intend to return to.

Power prices are insane in Syndey too, perhaps an airconditioner cooling a small area wouldnā€™t be so expensive rather than it trying to cool the whole house.

Yes, power prices in Sydney would be way over the top too!!

I am an OOOOOOOOLD person now and in the process of downsizing so I can move easily into any accomodation (even sharing for company - but who wants an old geyser!! :D)
So airconditioning should not be so much of a problem in the future.

The problem I have is my cat, Sweetie.
He is absolutely gorgeous, super fluffy ginger with a fluffy tail, a prize winning cat with a very high intelligence.
I love him dearly. :cool:

He is 6 years old and a real playpuss - runs thro the house like a wild tornado!! :eek:
You look into his beautiful giant golden eyes and he knows what you are thinking.
The only cat I have ever needed to take for long walks like a dog - and he responds to your verbal commands!!

I rescued this cat as a small kitten from certain death while I lived in Perth.

A pet is a wonderful item to have - they have unconditional love for you.

[U]However, having a pet is the quickest way to shutting down your mobility[/U].
In many places, pets are not allowed.
I will have sorrow, but not sorry, when Sweetie dies.

Therefore, as an old person, I give this wisdomā€¦

[B]Do not own a pet unless you are very well established and intend to stay where you are.
If you pet is to be a dog, consider the noise effect it will have on your neighbours.[/B]

4303

Ahemā€¦:smiley: :smiley: :smiley: :smiley:

4304

I will have to leave this one to the heavies on this thread, namely [B]Merchantprince, DodgeV83[/B] and [B]IronHeart[/B]. :slight_smile: :slight_smile:

4305

Good - keep going!! :slight_smile:

I bought some robots and it did well some times and less well some times so I lost confidence in them. ā€¦

Here is the very best robot I have found so far :smiley: :smiley: >>>


By tymen1 at 2008-06-10

4306

Touching is fine.
The principle of operation here needs to be understood clearly.

This 3.3 BB approach deals with BB walks where the price action rises/falls very strongly during the walk, then collapses strongly afterwards.
The aim of the extreme BB is to capture the price action while it is still running hot.
So it is not so much the figure 3.3 that is important, it is the fact that this is an extreme BB and, when hit, signifies an extreme price - which is what we are looking for. Afterwards, the price action nearly always collapses in these cases, so exits afterwards are no good.

Really impressed with this method so far. The two demo trades from my previous post closed out for +213 pips and +172 pips resulting in a 3.85% account gain.

Excellent!! :slight_smile: :slight_smile:

ā€¦ what struck me most about using this method in a live environment for the first time was how much more I felt in control of the trade thanks to the system and rules provided by Tymen.

Yes, you do feel much more in control when you are using the PSAR and a firm understanding of the rules!! :slight_smile:

4307

There are some more rules for the shortcut DNA entry method which I have not yet posted.

They are very important and will give you great confidence by allowing you to go into positive territory immediately with the possibility of adding further contracts.

But please allow me to take a break for a moment while I look at these rules, collate them together, check for inconsistancies, then post them all as a group.

I know that there will be a mad rush for traders using these rules for entry to BB walks, then rushing to use the PSAR/mid BB for exits to these walks!! :smiley:

4308

Thanks Tymen! I guess today was one of those days where the PA just kept on going despite hitting the extreme BB. Iā€™m going to do some backtesting so I can better see how this works out and to get my eye in a bit better.

4309

Hi Tymen,
Thank you for taking time out to respond, I appreciate it!
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