the trade is live now on USD/CAD 1 HOUR, looks like the start to me, out of a squeeze, after a bubble…
trade is live now USD/CAD 1 hour, looks like the start to me, i entered on the 12.00 candle
Looking at the charts, I don’t see an entry signal on that pair right now that I would take. USD/CAD has been a wiley bugger for a while now. It could go either way.
If you haven’t done so already, may I suggest you read this thread.
I am still here, but taking a break from answering the many new posts coming on this thread.
Glad to see that IronHeart has posted the MT4 code for the stoploss+exit indicator for the BB Profit Walk method.
This method is still under scrutiny since I have still to set rules for large signal candles and retracing entry candles and retracing candles after the entry.
Please wait while I take a much needed break for the 1st time since February when I started this thread. 
i have read every post of the thread, and demo traded all the systems outlined… according to the rules set out… bb’s expanding, mid bb pointing in the direction of the trade, signal candle through the outer bb, enter on next candle to go through the outer bb and bb 1.5, as long as the outer bb’s are still expanding…
the question is… if the trade goes against you straight away… do you bale… or stick with the psar stop loss rules…?
obviously all the rules are open to personal interpretation and clearly in this case the outer bb’s were expanding… but not excessively… and i have found that the amount of magnification on the charts seems to visually affect the slope to a large degree…
p.s I have only been demo trading for 2 weeks so i am on a steep learning curve here, that said, i have taken all the advice on this thread and am trying to follow the rules to the letter…
Hello 60minuteman
Far from it for me to say as I am new to this forum also but the daily trend for your pair has just gone through trend reversal, now going upwards and the weekly looks like its flat. As Vulcanclassic says it’s a wiley bugger so maybe stick to something with a bit less volatility to start off with.
Only my thoughts on it.
Regards
Mark
That’s up to you. But rules are rules. They are there to keep you out of trouble.
USD/CAD looks confused right now;
Daily trend is sideways and at a SR level, 4 H is slightly up, 1H is up. The signal you were looking at on the 1H isn’t a great one IMO (it could work though) because price action didn’t step to bottom BB, it puched right through.
yes vulcan i concur… a bit hasty to get into the trade i think… still i learn way more from the trades that lose than the ones i win… cheers for the advice…
Im learning that although an entry signal may appear to meet all the requirements for an entry, it is prudent to back this up with some longer term trend signals and even some fundamentals…
cheers Nipper… hey i’m open to all advice and opinion… its the only way to learn!
can you remember if the psar for trailing stop loss is on its standard setting? mine seems to be way off the price action?
i really need to post some charts dont I… phew! lots to learn
I suggest that [B]Nipper [/B]and [B]60minuteman [/B]start off trading with the BB DNA method because it is a working method whereas the Profit Walk method is still under research.
I suggest a 1 hour or 4 hour timeframe to start with.
For quicker action, you could try the 30 min but no lower.
As to the bailing out - NO.
The stop loss (PSAR is used to check that).
An immediate retracement may well come good again so that to exit prematurely is to invite making a deliberate loss.
The price action will never hit the PSAR so go with it and trade according to the rules.
The rules have been carefully worked out and are NOT open to personal interpretation.
Stick with the rules for a profit.
Break the rules and you are in NO MANS land.
thanks Tymen, i am demoing both systems… and really trying to stick rigidly to your rules…
excellent thread Tymen… thanks so much for all you effort and wisdom…
I am seeing a strong link between the steepness of the mid bb slope and the success of bb profit grabber trades… am i right? or is that a massive over simplification?
i am only trading 1 hour and higher…
When I first saw this, I thought it would be a great long trade, following the Band DNA rules, for 2 reasons:
[ul]
[li]Price action would just be crossing the Daily PP when it passes the CBL (which acted as a strong support line for the last 6 candles).
[/li][li]There has been a strong Long trend for the last few days, then price action casually (not strongly) hit the lower bb after a squeeze, formed a CBL, then crossed it. In my experience, these are the best CBL trades.
[/li][/ul]
Unfortunately, it looks like you shorted this? 
Here is the 12 oclock candle crossing as I saw it
And it looks like it just might be starting a new long walk.
As I have said before, and say again - a 1hour/4hour/8 hour/ daily timeframe [U]is recommended for beginners[/U] here.
Assuming you have the trend direction correct, the oscillations are small compared to the candle, and time in the market will get you the pips.
The more time, the more pips.
[U]It is only when you are experienced [/U]that you can go to lower timeframes where the oscillations make up a large part of the candle.
The experienced trader knows how to deal with these oscillations and get the best out of them.
As a result, the experienced trader can shorten his time in the market - that is, use a shorter timeframe.
This is the legendary point P that I have referred to much earlier on in this thread when I was first explaining the DNA method.
And it looks like it just might be starting a new long walk.
Yes, certainly!!
One candle has already hit the upper band with the BB expanding and the mid BB is going up.
yes dodge, i guess thats experience on your side there…
I can see it clearly now with hindsight, but i made the mistake of seeing what i wanted to see… i wanted to try the new profit grabber trade, so i convinced myself that was what i was seeing… i saw the bb’s expanding and the mid bb start to turn down… so i took a short trade expecting a bb walk…
another lesson learnt…!
can you confirm that the psar setting are the standard settings when using it for the stop loss? and is the daily p.p a standard indicator?
thanks for your advice dodge
This is correct and is a [U]must know[/U]!! 
That is why I coded the Slopemeter for the mid BB to check for safe entries.
When the mid BB is very steep the price action will walk the outer bands.
This is the basis for my BB Profit Walk method.
[B]But I strongly recommend that you do NOT trade this method just now because it is still under development.
Embarking on this method could bring you massive losses[/B]. :eek:
Stick with the DNA method and enter at a squeeze.
Use minimum 30min/1hour timeframe.
Use the PSAR as your stoploss and stick with the rules that I have posted re use of the PSAR.
Then you are in safe territory.
There is a lot to learn in this thread - both in theory and practice.
Yes it is the standard PSAR setting.
Here is indicator I use for pivot points, make sure to set the “shift” according to timezone your broker is in:
Daily Pivot Points shifted for different day start time - MQL4 Code Base
While this indicator is not officially a part of Tymen’s strategy, I find it very useful. Notice, the lines draw once, at the beginning of the day, and don’t repaint at all. Once you load it up, look back at the charts and notice how often you’ll see price reversing [B]directly[/B] after hitting the pivot line, [B]continuing strongly[/B] after crossing one, or just [B]hovering[/B] around the line before taking off.
It’s not a requirement for this strategy, but it’s a helpful confirmation indicator I use.
here is my trade today on USD/CHF 1 hour TF
I missed the nice CBL entry, but traded long at E after the signal candle S,
I closed the trade at the end of the day (being a complete newb… i was unsure what to do)
open price 1.03764
closed 1.04062
2 lots
(demo account)
thoughts would be appreciated…
i stress… only been demo trading and studying forex for 2 weeks…
babypips.com school and tymens BB thread…
I am field-testing the new BB Profit Walk indicator on the current EU downtrend. But I am a bit confused over how the indicator line is being drawn. Should we be taking our stop-loss value from the previous candle? It looks like the indi paints down near the current price of the current candle underway.
[B]4H Example:
[/B]
[B]1H Example:[/B]
Hey Merchantprince,
Based on my understanding, it should work exactly like the PSAR line, so while it uses the current candlestick line (not from the previous candlestick), you don’t exit unless the candlestick either [B]closes[/B] past the line, or at any time goes past the midbb.
Good luck!