Hi Redhunter! Thanks for the reply
However I think youāve got some confusion going on here as wellā¦:eek:
You are talking about the exit rule on the touch of [B]2 dev[/B] outer BB after a inversion and āre-inversionā ā¦ but the thing is different here.
Tymen says the if the PA touches 3.3 BB several candles after your entry, it usually indicates an extream value and implies a possible big retracement. so we exit on the touch on 3.3 BB to prevent ourself from getting into these retracements.
the rule for PSAR comes after this.
urrr, i really shouldnāt trade on Fridayā¦ PA goes 20 pips in my favor and turn immediately down on me in 1 hour, hit the stoploss causing -55 pipsā¦ I just can resist the temptation when everything sets up so nice and clearā¦
Never predict anything. Just pay respect to the market. āSALUT!!ā
Took my 1st Breakout trade on cable around 10:40am London time. Looking successful so far. I have a few questions about the exit when the BBs are not trumpetting all related to candle close and candle formation.
The quick exit mentioned is taken only after the entry candle has closed and the start of the following candle has began?
We donāt enter and exit on the same candle if the entry candle no longer shows a BB trumpet after initial entry?
For the quick exit on the candle following entry, do we wait to see if this following candle has closed 1st to see if still BB trumpet or do we exit anytime the BB trumpet disappears during this candle formation.
I think youāre making a wise decision. To put in trading lingo - better to take a small loss early than a big loss later. In other words donāt try to force yourself into liking the small town when youāve realized that youāre actually a city slicker
After visiting my friend in Greece I can only agree with the others here - no matter what the cost, you need to consider aircondition. At least for the bedroom and office.
(Btw, does it have to be hot Perth? Isnāt for instance Melbourne more humane temperaturewise?)
I know youāre a very intelligent person and Iām sure youāll figure out a good solution for you and Sweetie.
Its the one in between.
This candle hits the outer BB and the outer bands are expanding - requirements that need to be met.
I take this opportunity to thank you for your private email to me.
I greatly appreciate your concerns and encouragements regarding the work here.
All the best with your family and I trust that you will return to the city as I do!!
This post is a heartfelt thank you to all those who have shown their concerns for my health and mental well beingā¦
ā¦and also for encouraging me to soldier on - something that I will endevour to do.
[B]DanielMarz[/B], you are obviously a newbie here and you are showing signs of confusion - brought on, I suspect, by rapid digestion of the material in this thread.
Take note of [B]IronHeartās [/B]analysis.
Further, you have mixed up the two methods of trading given here ā¦
[B]1) The BB DNA method with its CBL entries and PSAR/mid BB exits.
The shortcut DNA method with its 7 entry rules and PSAR/mid BB /extreme BB exits.[/B]
ā¦and come up with a dogās breakfast. :eek: :eek:
You have made a dubious entry which is neither method, and exited on a skewed version of exits.
You need to slow down and read the PDFās again which are on the chatroom.
Took my 1st Breakout trade on cable around 10:40am London time. Looking successful so far. I have a few questions about the exit when the BBs are not trumpetting all related to candle close and candle formation.
The quick exit mentioned is taken only after the entry candle has closed and the start of the following candle has began?
I t hink yes - but there may be a situation, where you personally or me personally would need even a quicker exit- ā ie - price goes against you strong and fast - then probably an āimmediate exitā is in order
We donāt enter and exit on the same candle if the entry candle no longer shows a BB trumpet after initial entry?
if upon close the āsignalā candleās BBās are not expanding - there is no entry, if the āsignalā candle is expanding and now your on the entry candle - and it is not expanding -still no entry. IF you keep watching, and the next candle re-introduces the expanding BB - and your entry trigger is hit - it is OK to enter now.
For the quick exit on the candle following entry, do we wait to see if this following candle has closed 1st to see if still BB trumpet or do we exit anytime the BB trumpet disappears during this candle formation.
For verification of the BB expanding or not - must wait until close - - I was watching this the other night - and it did seem as if the BB were āflappingā in the wind - - went from expandinging to flat to compressing and back - so the only way to know how it ends up is to wait on the close.
I also think this can be a personal desicion - as if the BB are closing and closing hard, and your pips are going the wrong way - it may not return to expanding and you may get out early - - BUT AGAIN PERSONAL CHOICE - as closing early there is always a change price will return to your favor.
The sequence order has no hard and fast correct order.
The purpose of this exercise was to get you to think logically about the rules so that you could make sense of the entry.
This you have accomplished very well.
As for the 2nd exercise, the answers are correct, it was a simple arithmetic matter.
After I load a chart into Paint, I edit it, then cut it down to 51%.
This saves the comentary āthis chart has been resizedā from appearing at the top of every chart.
The best thing to do here is to trust the signal candle and enter as the price action goes inward thro the 1.5 BB.
You can be certain that the BB [U]will be expanded again[/U] at the close of the candle.
If things go wrong here you can always exit.
But if you follow the rules, the wrongs will be the losing trades and they will be in the minority.
Thank you for your encouragement and considered conclusion.
Yes, I agree completely - and going back to the city is what I will do.
I will consider cutting the time here as a stoploss as you say.
I spent the last 5 years in the city of Perth - and, looking back, they were the best years of my life!!
After visiting my friend in Greece I can only agree with the others here - no matter what the cost, you need to consider aircondition.
Yes, I have checked the websites - window air conditioners are the best and most efficient.
They are designed for vertical slide down windows.
Getting them into a horizontal sliding window is another matter that needs attention as most windows here are of that type.
(Btw, does it have to be hot Perth? Isnāt for instance Melbourne more humane temperaturewise?)
I am not ready to make such a grand move yet.
I have my friends in Perth.
Perth may be hot but then you can also go swimming.
Melborne is absolutely freezing in winter and this cold de-energizes me!! :eek:
I have always wanted to live in Melborne but now, with the freezing temperatures of this country town, I am not so sure.
Still Melbourne is a proper lively city much bigger than Perth, not a country town.
I know youāre a very intelligent person and Iām sure youāll figure out a good solution for you and Sweetie.
Thank you - indeed it is the existence of Sweetie that has me on hold for Melbourne.
Greetings Tyment and the rest of the team,
Iāve been lurking on this thread for the last couple of weeks reading it from start to finishā¦ Impressive. I love the style, the camaraderie and great insight. Thanks to all for your effort and time, but specially to Tymen youāve managed to do something quite impressive on this thread. Iāve seen the growth of many traders on this thread. Congrats. Iām trying to organize all this info to be able to use the methods correctly and confidently. Demo practicing right now.
On a side note, I would like to wish Tymen a good move back to the cityā¦ sorry that the country life did not work out for you. As far as dealing with Perthās summer heat, I would like to suggest an alternate approach to the āCool this Oven with some ACā one. I think you should analyze the characteristics of your next home in a different way prior to committing. I suggest you look at the passive cooling systems that are in place so that the load of the mechanical ones (AC, ventilator, etc) are reduced. Passive strategies can help a great deal. Things like proper insulation of walls, north oriented building and openings, overhangs or awnings to block summer sun and passive ventilationā¦ you would be amazed at how much you would save on your electric bill. Have a look at Glenn Murcuttās work, he has done some amazing projects for the aborigines in Australia with passive cooling strategies.
Anyway, just a suggestion. Iām a newby in the forex world, but the the building design world is my bread and butter.
Best reagards to allā¦ from a Spanish-American living in switzerland.
Has anyone seen the squeeze in the USDCHF Daily? Due to my lifestyle and commitments, I would like to be able to trade on the higher time framesā¦ from what Iāve read, it should be very doable. Iāve attached a chart as per Tymenās instructions and would love some basic comments on itā¦ Itās about the entry, itās funny how you can read and understand, but as soon as you try it you have a bunch of questions.
I saw the squeeze yesterday and the extreme candle was candle (A) at that moment, so I set up the CBL and put in a pending BUY order. It was long and past the mid band, so middle of extreme candle.
Looking at it, there might have been an earlier entry for a SELL.
Is this correct?
Should I have not set up the BUY?
Also, the squeeze was not exactly levelā¦ slightly downward.
Is that a NO-NO for a BUY?
Now thereās a new extreme candle (B) from today, so a new CBL will be drawn to continue looking for a possible BUY.
Any thoughts on this trade would be greatly appreciate it, and please bear with meā¦ Iām very new to this, but I consider myself a fairly quick learner. I hope it holds true for forex.
Best Regards
Thanks [B]Tymen & Ironheart[/B] for pointing this out. I think I still have to clear up the logic in my mind.
I admit that i didnāt exit strictly at the mid-BB following the BB DNA method. I will work on my discipline.
At the meantime I believe the entry is valid because the green candle is the extream candle and the body is smaller than the previous one. so i use 1 candle to enter when pa touches the cbl line. Please kindly point out if iām wrong, Thanks.
[QUOTE=abrsive;209700]Has anyone seen the squeeze in the USDCHF Daily? Due to my lifestyle and commitments, I would like to be able to trade on the higher time framesā¦ from what Iāve read, it should be very doable. Iāve attached a chart as per Tymenās instructions and would love some basic comments on itā¦ Itās about the entry, itās funny how you can read and understand, but as soon as you try it you have a bunch of questions.
I saw the squeeze yesterday and the extreme candle was candle (A) at that moment, so I set up the CBL and put in a pending BUY order. It was long and past the mid band, so middle of extreme candle.
Looking at it, there might have been an earlier entry for a SELL.
Is this correct?
Should I have not set up the BUY?
Also, the squeeze was not exactly levelā¦ slightly downward.
Is that a NO-NO for a BUY?
Now thereās a new extreme candle (B) from today, so a new CBL will be drawn to continue looking for a possible BUY.
Any thoughts on this trade would be greatly appreciate it, and please bear with meā¦ Iām very new to this, but I consider myself a fairly quick learner. I hope it holds true for forex.
Best Regards
and everytime I read I always feel encouraged. You are right its intense but fun!
