Tymen! I am so greatful to have the luck to find this thread, what you have done here is outstanding, not to forget the experiance shared by Graviton and the skilled program writers.
I slowely start to catch pips, working āalmostā always at H1,H4 and daily
chart. In the future I strongly belive I will stay with H4 and daily coz itās suite my personality.
Hope yr health is good and will be for many years to come.
I have been having pretty good results on the 15 M timeframe.
If I miss the initial breakout, then I wait for a retrace and look for a reversal pattern (like in the Joy of Candlesticks) at the mid BB in the direction of the breakout. (Also keeping in mind the next higher TF)
I know that Tymen isnt teaching that, but it has been working for me.
Hello all, have spent weeks reading the entire thread and associated links and pdf files etc.
Wow :eek:
Tymen you are an inspiration and your dedication is to be admired. Since starting this thread you have; fallen off your bike, been verbally/cyber abused by trolls 
, suffered heat exhaustion, moved house, thinking of moving again!, been hampered by barking dogs and on top of this having to deal with illness!!!
Special thanks also to Merchant Prince, Graviton, Iron Heart, N Forex, Ken Double U and Hordane for the pdfās. Sorry if i have missed someone.
I am an Independent Financial Adviser based in Belfast, Northern Ireland and am involved daily with portfolio planning, asset allocating, researching and money management for clients. I met a chap about 3 years ago who was an account manager for a UK firm specialising in Forex and it was his introdution to the world of currency trading that sparked my own personal interest.
I have only been trading for about a year now with mixed results. Lets just say I still have my initial capital intact with a little profit to show but what a learning curve i have gone through since starting this thread.
My intentions are to become a full time trader and if possible a semi-part time Financial Adviser where I can cut my client base to a small number of profitable clients. If you have ever read the book ābuilding the happiness-centred businessā by Paddi Lund you will know what I mean.
Tymen, thanks again and please look after your health.
āAct like a pilot/remora fish but think like a shark!ā 
Hi Merchant Prince
Your not alone here on this one. I have experienced the same on the 15min.
I have now moved up to the 20 min chart to see if that is any better.
[B]I am going to answer your post in detail because it is important.[/B]
[B]Answer to Merchantprince - part 1.[/B]
I am well ahead of you and 100% familiar with what you are saying - therefore, I take the following approachā¦
When new traders come on this forum with a view to trading forex, they come here expecting to make millions.
They look to get rich quick, thinking that a small outlay and high leverage can net them a progressive income.
They expect this with little learning, thinking that it is easy.
Then after some work, they start calculating, even drawing graphs to show how much compounding will give them a million dollars in such and such a time.
Certain outlays are given, such as 2% or some other growth figure.
Then the amount and frequency of trading is added into the equation.
Newly aspiring traders end up licking their lips as they see what appear to be extremely promising figures.
Why work?, they think, when they can trade and compound their profits into millionare road.
The truth is, of course, that the financial pie is limited, and forex trading can be likened to a whole flock of seagulls fighting over left over fish + chips on the beach.
The biggest, strongest and most aggressive seagull gets the chips.
[B]Answer to Merchantprince - part 2[/B]
Now the get rich quick mindset of the new trader affects them subconsiously.
That is, they donāt realise that it drives them to wrong actions.
The new trader, looking for large profits, goes straight to where the action is.
And where is this action?
Where will we see candles growing large in both green and red in very short time?
Where do we see apparent profits roaring?
[B]In the 1 minute chart, of course!![/B]
Here the candles move fast, and hence give the [U]illusion [/U]of profits.
After all, the new trader is looking for [B]action[/B]!!
The experienced trader knows better and is looking for [B]patience!![/B]
[B]Where is the difference?[/B]
[B]Answer to Merchantprince - part 3.[/B]
Anyone who has traded on a forex chart knows full well that the price oscillates up and down.
Yes, it has a trend to it but the price action goes [U]up, down, up, down, up, [/U][U]down [/U]on its way along the trend, be it an up or down trend.
This oscillation can be clearly seen on the smallest time frame - the tick chart.
These oscillations can be 10 pips or more at times.
Now in a 15 min timeframe, these oscillations are very important.
[U]They make up a huge factor of the size of the actual candle.[/U]
Get in atā¦
[ul]
[li]the right time of the oscillation - and you make a profit.
[/li][li]about halfway thro the oscillation - and you might get something, maybe just break even.
[/li][li]at the wrong end of the oscillation - you make a loss.
[/li][/ul]
It becomes extremely important whether you get in at say 90 rather than 100.
[U]The 10 pip range is crucial.[/U]
Furthermore, these large oscillations threaten your stoploss [U]with every[/U] 15 minute candle.
[U]The oscillations have only to hit your stoploss once and you are dead.[/U]
The interbanks know this and send price spikes to hunt out your stops.
So one bigger than usual oscillation (a price spike) and there goes your stoploss.
"Patience is the key to well-being."
Quote of Mahomet Proverbs Muslim tradition - the seventh century.
"Men never do the two major conditions for success: the willingness and patience."
Quotation of Alfred Capus,
[B]Answer to Merchantprince - part 4.[/B]
Now in a daily candle, the oscillations, compared to the range of the candle, are so small and far away from the stoploss, that you need a telescope or binoculars to see the oscillations.
With a daily candle, as long as you know the trend direction, it does not matter if you get in at 90 or 100.
[B]Why is this so?[/B]
Because, compared with the total pip range of the daily candle, a 10 pip oscillation is nothing.
Further, you stoploss is far away and will never be hit with a price spike.
The daily candle is 24 hours of price action.
In 15 minute version, it contains 4 BB bubbles + 3 sausages + 10 sqeezes + several bits of random action.
Then you make a profit.
The essence here is [U]time.[/U]
With a daily chart, all you need to know is the trend direction.
Then, if you enter at random in the correct direction, you will make a profit at the end of the day.
Try that in a 15 minute chart!! :eek:
Trading one bubble while the oscillations are so large is not the way to a profit.
The difference is that you are in a daily for at least 24 hours.
In a 15 min, you may be in for maybe 2 hours.
In the daily chart you are in the trade much longer.
[B]It is time that makes the profit, not the action in the chart.[/B]
[B]Answer to Merchantprince - part 5.[/B]
If time in the market (knowing the correct trend direction) is important, we can see the problem with trading just one BB bubble in the 15 min chart.
There is not enough time to let the profit potential grow, and [U]the oscillation [/U][U]factor [/U]becomes a huge player in the timeframe and the price action.
By comparison, the oscillation factor in the daily candle is so small as to be of little consequence.
[B]So the profit potential is greatest in the daily candle.[/B]
[B]The difference between the two is the time in the market.[/B]
[B]And the daily chart shows very little action compared to the 1 minute chart.[/B]
Now we see why the new traders, with a quick profit, no patience mindset, choose the wrong timeframes.
(speaking generally - not referring to Merchantprince).
[B]New traders choose the short, action timeframe with its least profit potential, instead of the long, patience timeframe with its almost guaranteed profits.[/B]
[B]When we understand the above, we are ready to make a breakthro in our trading - and real profits are potentially on our doorstep.[/B]
[B] (note my avatar - the theme of this entire thread!!)[/B]
It appears, [B]Merchantprince[/B], that you are ready to take this step to higher timeframesā¦
(not that you were ever greedy or lacked patience - I am speaking generally!!)
I am strongly considering leaving the 15m TF behind altogether, even though I am only trading squeeze breakouts and CBL entries off level bolls.
This is good news!!
If I remember correctly, you started out with the 2 minute timeframe, and graduated to the 15 minute timeframe.
Why not now go the whole way and forget about the 1 hour timeframe, and consider only the 4 hour, 8 hour and daily timeframes?
This I say to other readers also.
[B]Answer to Merchantprince - final.[/B]
One of the greatest psychological enemies of the new trader is [B]pride [/B]or [B]stubborness[/B].
Every psychological breakthro to an improvement in trading requires a confession that the traderās is present trading approach is wrong, and consequently, making a loss.
This confession is followed by a repentence - a change of heart causing the trader to adopt the new way of trading that leads to a profit.
This change of heart is [U]blocked [/U]when a trader has a pride or stubborn mindset - thinking that what they know is correct, and hence persisting in the destructive trading style.
The end thereof is a loss of all funds, and this is the only way the stubborn trader is brought to heel.
To all, I say thisā¦
[B]Do not be a stubborn trader with pride uppermost.
Be humble, and prepared to repent of a wrong trading action long before it destroys your account.[/B]
This is the correct way to go.
The reason I work with the 15 minute chart is because they are fickle.
[U]Fickle and unreliable charts[/U] are the best place to test any new indicator that I may be constructing.
That is the [U]only reason[/U] I am posting on them.
That is not an endorsement of 15 min charts. :eek:
Forget it!! :eek:
Read my above posts and learn!! 
Outstanding choices of timeframe, [B]erikskenne[/B]!!
You will make more profit as you go along!!
[B]gerard1 [/B]could learn from your example and that of [B]Pip Bandit.[/B]
Impressive lesson Tymen, all of us can learn a lot from it and in many ways.
In fact, you were hinting this very simple idea from the beginning of the post. Even when people look to adapt the method to itās needs you were trying to explain it was better not to deviate as the underlying theory of it is pretty much the same.
The market as a wave, an oscillatory movement in wich we need to learn to sail as in the beach and explaining of the tide post. Inside this wave we find 4 types of movement and if somehow we can stadistically measure in wich portion of the wavelength (with the Bollinger Bands) we are we can try to get inside the portion where it will change its direction.
Of course as we try to go down on timeframes so we are using an higher frequency, we see a very energetic and chaotic (human driven) movement so itās dangerous to stay in.
After all, itās true that psichological part of forex trading is what catters the profitable ones. Only the most most experienced can stand such emotions when your money is on the table and can be seen by everybody.
Thank you for this new lesson sensei. I somehow envy your past students as no one could make me feel so interested in anything I knew nothing about, even when they were in front of me trying to teach.
Pure heritage to the world.
Very nice adaptation to retracements, [B]VulcanClassic[/B].
But I do recommend the higher timeframes for a safer trade.
Wow!!
Along with those whom you have given special acknowledgement, you may also be a great asset to this thread, [B]Nipper[/B]!!
I see questions specially for you coming your way!!
[B]Didier[/B], who has proven to me many times, that he is a true friend, and one of the first to have my private email address, is always full of encouragement and giving credit!!